As the first decade guideline of "three-step" strategy for construction of manufacturing power of China, "Made In China 2025" depicts a path for Chinese manufacturing from large to strong, which has been gained high-level attention by Communist Party of China (CPC). In early July 2015, the State Council set up national manufacturing power construction leading group, and the vice-premier Ma Kai is the group leader, and there are more than 20 government departments involved in this group. This group has held the third meeting and established a consultative committee for construction strategy of national manufacturing power, and builds up intersectoral links joint-action mechanism and actively mobilizes multi-power and enthusiasm.

Over the past year, for the implementation of the "Made in China 2025", the government mainly carried out three aspects. Firstly, the government prepared and issued the "1 + X" plan. Secondly, the government formulated a number of supporting policies. CBRC revised the "Commercial Bank M & A Loan Risk Management Guidelines" to encourage the support of commercial banks to manufacturing concern. It would work with the Ministry of Industry and Information Technology of the People’s Republic of China to further improve the financing guarantee system. The introduction of these supporting policies, mainly in order to provide the reasonable support for necessary innovation and development for manufacturing.

The third is to strengthen the guidance of local, promote development of regional differences. Some effects and implementation of policies and the major projects has been initially apparent. For example, “Enterprise R & D Expenses Plus Deduction Policy” further stimulates industrial enterprises, especially SMEs (Small and Medium Enterprises) innovation and dynamic development. Future development of "Made in China 2025" will be more perfect, be more conducive to long-term development of business volume, so that it will greatly facilitate the tungsten heater and other tungsten enterprises development.

Since the price of tungsten concentrate and ammonium paratungstate hit the bottom of 60,000RMB/ton, it stoped falling and went up slightly last week. The change in market is faster than expected, for most enterprises thought the market will turn better at the end of August.

The full-year profits took a hit from the on-going malaise in the Oil&Gas sector, although management sounded an optimistic note on the potential of its products, including graphene.
The advanced engineering materials group recorded losses before tax of £1.8m, up from £0.9m in 2015.
Revenues declined 10% from £4.98m to £4.4m, with improved sales at its thermal products arm failing to offset a drop in Hard Wear products unit.
Its tungsten carbide business took a hit from the downturn in the oil and gas sector, reporting sales for the year to end March of £3.1mln compared to £4.6mln in 2015, but it said all three of its divisions, hardware, thermal and graphene, had made progress.

Sales at the former, which manufactures microporous copper foam, improved from £0.4m to £1.3m, benefitting from the purchase of its heat sink business in February 2015.
In parallel, Hard Wear product sales were hit by the adverse environment in the oil and gas market, although new opportunities were emerging in defence and aerospace, the company said in a statement.
The unit makes sintered tungsten carbide business for "arduous environment" applications, primarily in Oil&Gas.
Since the end of the reporting period, the company had closed four partnerships to introduce its grapheme products into four key markets: batteries, carbon fibre products and enhanced composites for 3D printing and the aerospace industry.
It had also negotiated its first OEM contract for the use of low profile copper foam heat sinks in consumer devices.

Cash at period end was down from £3.5m one year ago to £1.6m, with £1.26m having been funneled into operating activities and another £276,000 towards the purchase of intangible assets.
Regarding the company's outlook, the board said it remained confident it was on track to benefit from progress made, saying that graphene was moving quickly towards commercial applications, while thermal products had moved into commercial production.
As of 15:56 BST shares in AIM-listed Versarien were 6.38% down to 11.0p.