About 1818 Tons of Rare Earth Oxides in XTC

Relevant personnel from Xiamen Tungsten Co., Ltd. (XTC) said that the company is mainly responsible for the integration of rare earth resources in Fujian Province. According to the data of the company's 2020 annual report, the company's rare earth oxides are approximately 1818.45 tons.

Xiamen Tungsten Co., Ltd. smelts and processes tungsten products. The Company manufactures and sells ammonium paratungstate, blue and yellow tungsten oxide. The company also produces batteries and operates in real estate development and management.

XTC was established on December 30, 1997. It is one of the six largest rare earth groups in domestic. It has formed a relatively complete industrial system from rare earth mine development, smelting and separation, rare earth functional materials and scientific research applications. The 2020 annual report shows that the company's rare earth business realized an operating income of 3.060 billion yuan, a year-on-year increase of 20.85%; realized a total profit of 89,863,700 yuan, a year-on-year increase of 10.57%.

To meet the needs of downstream users as much as possible, and to further improve the company's competitiveness in the rare earth industry, Xiamen Tungsten is actively expanding its rare earth business. The company plans to invest 423 million yuan in the construction of a high-performance rare earth permanent magnet material project with an annual output of 4,000 tons.

The project is expected to reach production capacity in 2023. After reaching the production capacity, it is expected to have an average annual sales income of 884 million yuan and an average annual after-tax profit of 84.7 million yuan. The payback period of the entire investment is 6.92 years, the financial internal rate of return is 19.66%, and the break-even point of the project is 71.7% of the design capacity (that is, the annual output reaches 2869 tons).

In addition to having a relatively complete rare earth industry chain, the company owns two major businesses focusing on tungsten and molybdenum and new energy materials. The 2020 annual report shows that non-ferrous metal businesses such as tungsten and molybdenum achieved operating income of 7.536 billion yuan, a year-on-year increase of 0.28%, and realized a total profit of 802 million yuan, a year-on-year increase of 200.29%.

New energy battery materials (including lithium battery cathode materials, hydrogen storage alloys) business achieved operating income of 8.216 billion yuan, a year-on-year increase of 14.58%; realized total profits of 278 million yuan, a year-on-year increase of 123.44%.

In general, XTC is mainly engaged in tungsten concentrates, tungsten and molybdenum intermediate products, powder products, wire sheets, cemented carbide, cutting tools, various rare earth oxides, rare earth metals, rare earth luminescent materials, magnetic materials R&D, lithium battery materials and other new energy materials.

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