Revenue and Profit Performance - Revenue for the third quarter was RMB 9,207,409,717.68, a decrease of 14.73% year-over-year[2] - Net profit attributable to shareholders of the listed company was RMB 385,785,870.11, an increase of 4.32% year-over-year[2] - Basic earnings per share for the third quarter were RMB 0.2727, an increase of 4.04% year-over-year[2] - Net profit attributable to the parent company for the first three quarters of 2024 was RMB 6.59 billion, an increase of 14.5% compared to RMB 5.76 billion in the same period of 2023[15] - Net profit attributable to parent company shareholders increased to 1,402,388,931.27 RMB, up 20.8% year-over-year from 1,161,124,339.79 RMB[19] - Net profit for the third quarter of 2024 was RMB 847,791,974.59, compared to RMB 575,593,617.87 in the same period last year[27] - Revenue for the first three quarters of 2024 reached 2,360,670,932.23 RMB, up from 2,112,790,648.56 RMB in the same period of 2023[26] - Net profit attributable to shareholders rose to 1,696,283,801.74 RMB, compared to 1,415,731,267.15 RMB at the end of 2023[26] Asset and Liability Changes - Total assets as of the end of the reporting period were RMB 41,347,491,836.39, an increase of 5.28% compared to the end of the previous year[4] - Equity attributable to shareholders of the listed company was RMB 12,063,148,877.78, an increase of 7.59% compared to the end of the previous year[4] - Total assets as of the end of Q3 2024 were RMB 41.35 billion, an increase of 5.3% compared to RMB 39.27 billion at the end of Q3 2023[14] - Total liabilities as of the end of Q3 2024 were RMB 21.20 billion, an increase of 4.9% compared to RMB 20.20 billion at the end of Q3 2023[15] - Total assets grew to 22,819,553,271.03 RMB, a 12.3% increase from 20,342,085,058.16 RMB[21] - Total liabilities decreased by 8.5% to 16,970,762,683.19 RMB from 18,526,473,259.18 RMB[21] - Total assets increased to 19,518,099,549.52 RMB as of September 30, 2024, compared to 19,167,972,004.50 RMB at the end of 2023[24][25][26] - Total liabilities stood at 12,333,037,892.98 RMB, slightly higher than 12,271,708,342.51 RMB at the end of 2023[25] Cash Flow and Financial Activities - The company's cash flow from operating activities for the first nine months of the year was RMB 2,293,080,011.85, an increase of 18.23% year-over-year[2] - Operating cash flow increased by 18.2% to 2,293,080,011.85 RMB compared to 1,939,499,413.71 RMB in the same period last year[21] - Cash received from selling goods and providing services decreased by 11.7% to 22,384,080,132.88 RMB from 25,351,712,287.99 RMB[21] - Investment activities resulted in a negative cash flow of -1,258,510,306.99 RMB, an improvement from -1,546,918,502.79 RMB in the previous year[23] - Cash and cash equivalents at the end of the period stood at 3,433,323,722.46 RMB, a 14.7% increase from 2,993,774,767.72 RMB[23] - Cash received from sales of goods and services in the first three quarters of 2024 was RMB 2,549,277,822.69, an increase from RMB 2,146,141,821.46 in the same period last year[28] - Total cash inflow from operating activities in the first three quarters of 2024 was RMB 2,712,971,279.77, compared to RMB 2,348,958,594.33 in the same period last year[30] - Net cash flow from operating activities in the first three quarters of 2024 was RMB -30,663,221.08, a decrease from RMB 323,246,601.32 in the same period last year[30] - Net cash flow from investing activities in the first three quarters of 2024 was RMB 257,487,018.41, down from RMB 661,073,641.33 in the same period last year[30] - Net cash flow from financing activities in the first three quarters of 2024 was RMB -19,878,573.84, compared to RMB -875,909,297.92 in the same period last year[30] - Net increase in cash and cash equivalents in the first three quarters of 2024 was RMB 206,976,973.20, up from RMB 104,848,009.70 in the same period last year[30] - Ending cash and cash equivalents balance for the first three quarters of 2024 was RMB 695,120,061.84, compared to RMB 875,606,942.34 in the same period last year[30] Business Segment Performance - Tungsten and molybdenum business achieved revenue of 13.249 billion yuan, a year-on-year increase of 7.04%, with a profit of 1.960 billion yuan, up 17.34%[12] - Fine tungsten wire sales reached 106.5 billion meters, a year-on-year increase of 95%, with sales revenue up 52%[12] - Energy materials business revenue was 9.882 billion yuan, a year-on-year decrease of 24.69%, with a profit of 386 million yuan, down 13.87%[12] - Cobalt lithium product sales reached 32,300 tons, a year-on-year increase of 30%[12] - Ternary material product sales reached 38,600 tons, a year-on-year increase of 65%[12] - Rare earth business revenue was 3.203 billion yuan, a year-on-year decrease of 18.25%, with a profit of 180 million yuan, up 61.92%[12] - Magnetic material sales reached 6,325 tons, a year-on-year increase of 15%[12] - Real estate business revenue was 35 million yuan, a year-on-year decrease of 68.38%, with a profit of 68 million yuan, an increase of 174 million yuan[12] Shareholder and Equity Information - The company's largest shareholder, Fujian Rare Earth (Group) Co., Ltd., holds 31.77% of the shares[8] - The top 10 shareholders collectively hold approximately 52.3% of the company's shares[8] - The company's equity attributable to parent company shareholders increased by 15.6% to 5,949,224.28 RMB from 5,149,224.28 RMB[19] R&D and Operating Costs - R&D expenses for the first three quarters of 2024 were RMB 1.09 billion, a slight decrease of 1.5% compared to RMB 1.11 billion in the same period of 2023[18] - R&D expenses for the first three quarters of 2024 were 92,342,615.85 RMB, slightly higher than 91,537,045.70 RMB in the same period of 2023[26] - Operating costs for the first three quarters of 2024 were RMB 24.01 billion, a decrease of 12.2% compared to RMB 27.35 billion in the same period of 2023[18] Inventory and Monetary Funds - Monetary funds increased to 3.482 billion yuan from 2.851 billion yuan at the end of the previous year[13] - Inventory increased to 8.244 billion yuan from 7.419 billion yuan at the end of the previous year[13] - Inventory increased to 246,100,736.34 RMB, up from 151,777,263.13 RMB at the end of 2023[24] Comprehensive Income and Other Financial Metrics - Total comprehensive income reached 2,219,429,043.69 RMB, a 20.8% increase compared to 1,837,784,926.42 RMB in the same period last year[19] - Comprehensive income for the third quarter of 2024 was RMB 844,941,282.13, up from RMB 584,836,971.36 in the same period last year[27] - Weighted average return on equity (ROE) for the third quarter was 3.27%, a decrease of 0.09 percentage points year-over-year[4] - Non-recurring gains and losses for the third quarter amounted to RMB 15,650,563.71, primarily due to government subsidies and asset disposal gains[5] - Total profit for the third quarter of 2024 was RMB 864,126,559.20, an increase from RMB 575,300,835.11 in the same period last year[27] - Operating profit for the first three quarters of 2024 was 868,237,600.39 RMB, compared to 575,939,161.89 RMB in the same period of 2023[26] Fixed Assets and Construction in Progress - Fixed assets as of the end of Q3 2024 were RMB 10.33 billion, an increase of 1.9% compared to RMB 10.14 billion at the end of Q3 2023[14] - Construction in progress as of the end of Q3 2024 was RMB 3.47 billion, an increase of 30.1% compared to RMB 2.66 billion at the end of Q3 2023[14] Borrowings and Investments - Short-term borrowings as of the end of Q3 2024 were RMB 2.96 billion, an increase of 36.5% compared to RMB 2.17 billion at the end of Q3 2023[14] - Long-term borrowings as of the end of Q3 2024 were RMB 6.84 billion, a decrease of 2.7% compared to RMB 7.03 billion at the end of Q3 2023[15] - Long-term equity investments increased to 12,223,419,824.43 RMB, up from 11,860,303,731.42 RMB at the end of 2023[24] - Short-term borrowings grew to 2,022,306,517.68 RMB, compared to 1,539,926,109.59 RMB at the end of 2023[25] Accounts Receivable and Other Financial Metrics - Accounts receivable decreased to 341,119,322.45 RMB, down from 463,297,021.95 RMB at the end of 2023[24]

证券代码：600549 证券简称：厦门钨业 厦门钨业股份有限公司 投资者关系活动记录表 编号：2024-投关-006 | --- | --- | --- | --- | |-------------------------------------|------------------------------------------------------------------------------|-------------------------------------------------------------------------|--------------------------| | 投资者关系 \n活动类别 | √现场参观 □其他 | √特定对象调研 √分析师会议 □媒体采访 \n□业绩说明会 □新闻发布会 □路演活动 | | | 参与单位名称 | 详见附表。 | | | | 时间 | 2024 年 9 月 2 日至 | 2024 年 9 月 29 日 | | | 地点 | | 北京、券商策略会现场、公司会议室、公司产线、腾讯会议 | | | | | 厦门钨业董事长黄长庚、董事兼总裁吴 ...

证券研究报告 有色金属|小金属 联系人 陈轩 S1350124080032 chenxuan01@huayuanstock.com 市场表现： 股价数据： 2024 年 8 月 30 日 收盘价（元） 17.00 年内最高/最低（元） 22.15/13.50 总市值（亿元） 241 基础数据： 2024 年 6 月 30 日 总股本 (亿股) 14.18 总资产（亿元） 406.76 净资产（亿元） 195.46 市净率 PB 8.22 首次覆盖报告 2024 年 09 月 01 日 厦门钨业 (600549.SH ) 买入（首次） ——钨钼业务实现高增长，三大板块扩产项目稳步推进 投资要点： 证券分析师 田源 S1350524030001 tianyuan@huayuanstock.com 田庆争 S1350524050001 tianqingzheng@huayuanstock.com 项祈瑞 S1350524040002 xiangqirui@huayuanstock.com ➢ 事件：公司发布 2024 年半年报。公司上半年实现营收 171.62 亿元，同比降低 8.4%，实现归母净利润 10.17 ...

厦门钨业（600549.SH）2024 年半年报点评 钨价走高增厚矿山利润，钨钼板块表现强劲 2024 年 08 月 29 日 ➢ 事件：公司发布 2024 年半年报。2024H1，公司实现营收 171.62 亿元，同 比-8.37%；归母净利润 10.17 亿元，同比+28.47%，扣非后归母净利 8.58 亿 元，同比+18.92%。分季度看，2024Q2，公司实现营收 88.92 亿元，同比-12.55%、 环比+7.52%；归母净利润 5.90 亿元，同比+67.84%、环比+38.02%；扣非归 母净利 5.57 亿元，同比+69.13%、环比+85.21%。 ➢ 钨钼板块：钨价走高增厚矿山利润，光伏钨丝持续放量。1）2023 年公司钨 钼业务实现利润总额 14 亿元，同比增长 30%。测算 24Q2 钨钼板块实现利润总 额 8.9 亿元，同比增长 65%、环比增长 64%。2）光伏钨丝持续放量，2024H1 光伏钨丝销量达到 628 亿米（2023 年全年 760 亿米），光伏钨丝替代高碳钢丝 大势所趋。子公司厦门虹鹭实现净利润 6.19 亿元，同比增长 51.15%。3）钨价 强势，2024H1 ...

[Table_Main] 公司研究|有色金属材料 证券研究报告 [Table 上半年业绩 _Title] 高速增长，钨钼利润占比维持高位 ——厦门钨业 2024 年半年度报告点评 [事件：公司 Table_Summary 8 月] 22 日发布 2024 年半年度报告，期内实现营业收入 171.62 亿元，同比下降 8.37%；实现归母净利润 10.17 亿元，同比增长 28.47%。 点评： 上游钨精矿价格上涨增厚矿山利润，公司钨钼板块业绩保持快速增长 2024 年上半年，公司钨钼业务整体向好，主要深加工产品保持平稳发展态 势，钨钼业务实现营业收入 87.81 亿元，同比增长 10.98%；实现利润总额 14.27 亿元，同比增长 29.50%，占公司利润总额比例超过 75%。钨精矿方 面，2024 年 1-6 月，国内黑钨精矿（65%WO3）均价为 13.44 万元/吨，较 2023 年同期上涨 13.04%。公司三大矿山业绩显著提升，2024 年上半年实 现营业收入 8.06 亿元，同比增加 11.83%，实现净利润为 3.10 亿元，同比 增加 36.32%。其中，宁化行洛坑实现营业收入 3.11 亿 ...

[Table_Main] 公司研究|有色金属材料 证券研究报告 [Table 上半年业绩 _Title] 高速增长，钨钼利润占比维持高位 ——厦门钨业 2024 年半年度报告点评 [事件：公司 Table_Summary 8 月] 22 日发布 2024 年半年度报告，期内实现营业收入 171.62 亿元，同比下降 8.37%；实现归母净利润 10.17 亿元，同比增长 28.47%。 点评： 上游钨精矿价格上涨增厚矿山利润，公司钨钼板块业绩保持快速增长 2024 年上半年，公司钨钼业务整体向好，主要深加工产品保持平稳发展态 势，钨钼业务实现营业收入 87.81 亿元，同比增长 10.98%；实现利润总额 14.27 亿元，同比增长 29.50%，占公司利润总额比例超过 75%。钨精矿方 面，2024 年 1-6 月，国内黑钨精矿（65%WO3）均价为 13.44 万元/吨，较 2023 年同期上涨 13.04%。公司三大矿山业绩显著提升，2024 年上半年实 现营业收入 8.06 亿元，同比增加 11.83%，实现净利润为 3.10 亿元，同比 增加 36.32%。其中，宁化行洛坑实现营业收入 3.11 亿 ...

国泰君安版权所有发送给上海东方财富金融数据服务有限公司.东财接收研报邮箱.ybjieshou@eastmoney.com p1 股 票 研 究 公 司 更 新 报 告 证 券 研 究 报 告 -18% -10% -1% 8% 17% 25% 2023-08 2023-12 2024-04 [Table_Market] 交易数据 投资要点： [Table_PicQuote] 52周股价走势图 厦门钨业 上证指数 [Table_Report] 相关报告 [当前价格： Table_CurPrice] 16.65 钨钼板块业绩高增，正极稀土环比改善 厦门钨业(600549) 金属，采矿，制品 [Table_Industry] /原材料 [Table_Invest] 评级： 增持 上次评级: 增持 [Table_Target] 目标价格： 24.50 上次预测: 24.17 | --- | --- | |-------------------|----------------------------| | 于嘉懿(分析师) | 刘小华(分析师) | | 021-38038404 | 021-38038434 | | y ...

[Table_Main] 证券研究报告 | 公司点评 厦门钨业(600549.SH) 2024 年 08 月 22 日 买入（维持） 所属行业：有色金属/小金属 当前价格(元)：15.96 证券分析师 翟堃 资格编号：s0120523050002 邮箱：zhaikun＠tebon.com.cn 康宇豪 资格编号：S0120524050001 邮箱：kangyh＠tebon.com.cn 研究助理 市场表现 厦门钨业 沪深300 -23% -11% 0% 11% 23% 34% 2023-08 2023-12 2024-04 2024-08 | --- | --- | --- | --- | |-------------|-------|--------|--------| | 沪深300对比 | 1M | 2M | 3M | | 绝对涨幅(%) | -6.01 | -10.59 | -16.99 | | 相对涨幅(%) | 0.38 | -5.37 | -7.12 | 资料来源：德邦研究所，聚源数据 相关研究 1.《厦门钨业（600549.SH）：2023 年 钨钼板块带动业绩稳健增长，2024 年 Q1 三 ...

厦门鹤亚 厦门钨业股份有限公司 2024年半年度报告 2024 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确性、 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人黄长庚、主管会计工作负责人钟炳贤及会计机构负责人（会计主管人员）林浩声 明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告所涉及的未来计划、发展战略等前瞻性陈述，不构成公司对投资者的实质承诺，请投资者 注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 本公司已在本报告中详细描述存在的风险因素，敬请查阅第三节"管理层讨论与分析"中 "五、其他披露事项"中可能面对的风险 十一、 其他 ...

股票代码：600549 股票简称：厦门钨业 公告编号：临-2024-054 单位：万元 厦门钨业股份有限公司 2024 年半年度业绩快报公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 本公告所载 2024 年半年度主要财务数据为初步核算数据，未经会计师事务所审计，具体 准确的财务数据以公司正式披露的 2024 年半年度报告为准，敬请投资者注意投资风险。 | --- | --- | --- | --- | |-----------------------------------------------|--------------|--------------|------------------------| | 项目 | 本报告期 | 上年同期 | 增减变动幅度（％） | | 营业总收入 | 1,716,167.62 | 1,873,007.93 | -8.37 | | 营业利润 | 188,833.50 | 145,683.64 | 29.62 | | 利润总额 | 188,283.84 | 144,912.43 | ...