Net profit to drop eighty percent Fujian Xiamen Tungsten Rare generous holdings

Following a quarterly report is not satisfactory, the Xiamen Tungsten let's mid-year report disappointed investors. Mid-year report released last week showed that eighty percent Xiamen Tungsten net profit to drop. However, at the same time, he was a large shareholder of Fujian Xiamen Tungsten Continuous Rare Earth Group holdings and holdings are generous.

According to the report shows, Fujian Xiamen Tungsten Rare Earth Group currently holds 235,600,000 shares in the first quarter increased by 459.16 million shares, the total share capital of 34.55%. In the second quarter, the share price at 30 yuan Xiamen Tungsten fluctuate around, that is, to buy shares in Fujian Rare Earth Group spent at least $ 120 million. Holdings in the second quarter, the major shareholder of Fujian, Xiamen Tungsten Rare Earth Group has achieved for three consecutive quarters of Xiamen Tungsten holdings. When the first quarter of this year, Fujian Xiamen Tungsten Rare Earth Group had holdings of 67 million shares. From the beginning of December last year, Fujian Rare Earth Group has total holdings of listed shares 0.95%.

In fact, in addition to intensify holdings outside, Fujian Province, Xiamen Tungsten is also rare earth business support into concrete action. Public information, in 2013 the first batch of rare earth mining Fujian indicators have 950 tons allocated to Xiamen Tungsten, which is more than the same period in 2012, 700 tons, an increase of 250 tons. The province's total mining capacity of 1,000 tons, and the remaining 50 tons were Sanming, Citylink, Changting, Shanghang other places of five rare earth companies carved up, that is, the first batch of this year, 95% of the mining index gave Xiamenwuye .

Shun securities business department Huli Avenue investment adviser Huang Huiming said, Fujian Province, Xiamen Tungsten is a rare integrated platform, its subsidiary Rare Earth Development Co., Ltd. Longyan City Longyan City has completed four rare earth mining rights in the three mining permits integration . In addition, in accordance with the requirements of the Fujian Provincial Government, Xiamen Tungsten will be a joint venture with the city of Sanming Sanming City Development Corporation and rare earth deep-processing enterprises three Ming Jinming Rare Ltd., which is expected by the end of 2013 and put into production.

However, Xiamen Tungsten results so depressed, but also with rare earth business can not get away. Due to continued depressed state of rare earth products, sales prices and sales volume dropped significantly during the first half of this year, Xiamen Tungsten subordinates Changting Jinlong Rare Earth Co., Ltd. due to operating losses and provision for inventory losses of 108.6 million yuan to prepare.

Huang Huiming expected that the rare earth industry governance policies further overweight, rare earths and magnetic prices are expected to further enhance, the main industry profitability is expected in the second half will be further strengthened, performance is higher than the first half. Although the Company completed the early development of the overall business plan with greater difficulty, but for now, Fujian Rare Earth Group will fight Fujian Xiamen Rare earth listing platform, both from a determination or action point of view, actions are great, worthy of investor attention.


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