"我们处在一个从学习、追赶、并跑到领跑的过程。"李仲泽如此评价公司在全球产业链中的所处阶段。 目前，中钨高新旗下柿竹园公司拥有全球在产的最大单体钨矿山，上半年，公司钨精矿产量、硬质合金 产量稳居全球第一。近日，中钨高新披露的2025年半年报显示，公司实现营收与利润双增长，延续了过 去五年的增长趋势。在实地采访中，李仲泽深入剖析了业绩增长的核心逻辑，勾勒出中钨高新未来发展 的蓝图。 全产业链协同 谈及过去五年公司持续增长的原因，李仲泽将"全产业链优势"作为首要因素。中钨高新构建了从钨矿山 开采、冶炼，到硬质合金加工及制成品的完整产业链，且在每个环节都具备行业领先的实力。 在矿山领域，2024年，中钨高新宣布以52亿元收购柿竹园公司，通过重大资产重组将全球最大的单体钨 矿山收入麾下。"柿竹园公司为增厚上市公司利润做出了较大贡献。"李仲泽表示。目前中钨高新还受托 管理着实控人中国五矿旗下的四座钨矿山。"公司将继续推进四座矿山的注入工作，目前这项工作正在 有序推进。"李仲泽说，公司也在关注资源端和加工制造端的并购机会。 汇正财经资深研究员朱杲怡认为，中钨高新对柿竹园公司的收购是其全产业链战略布局的里程碑式举 措，通过 ...

从钨矿的开采到硬质合金产品的研发、加工与生产，中钨高新的目标是成为一家全产业链布局的世界一 流钨产业集团。日前，中钨高新董事长李仲泽在接受中国证券报专访时称，产业链资源整合、持续的科 技创新、产品规模与品质升级，是公司业绩保持增长的三大原因，未来公司还将继续推动资产注入，持 续提升产品品质与技术含量，优化业务结构。 "我们处在一个从学习、追赶、并跑到领跑的过程。"李仲泽如此评价公司在全球产业链中的所处阶段。 目前，中钨高新旗下柿竹园公司拥有全球在产的最大单体钨矿山，上半年，公司钨精矿产量、硬质合金 产量稳居全球第一。近日，中钨高新披露的2025年半年报显示，公司实现营收与利润双增长，延续了过 去五年的增长趋势。在实地采访中，李仲泽深入剖析了业绩增长的核心逻辑，勾勒出中钨高新未来发展 的蓝图。 汇正财经资深研究员朱杲怡认为，中钨高新对柿竹园公司的收购是其全产业链战略布局的里程碑式举 措，通过整合全球顶级钨矿资源与冶炼技术，形成了"资源-冶炼-加工-应用"的闭环体系，在资源端构建 了全球稀缺的钨、铋、萤石资源控制体系，为高端制造提供稳定原料保障，在全球钨产业链中占据战略 主导地位。 在硬质合金领域，2025年上半 ...

为了让全产业链的协同效应最大化，中钨高新在今年5月启动了一场"刀刃向内"的组织架构改革。李仲 泽介绍，公司撤销了运营部、贸易部、集采中心三个二级部门，重组新设供应链部，下设大宗原材料供 应中心、矿冶集采服务中心、合金集采服务中心、进出口经营中心四个中心。 ● 本报记者 郑萃颖 熊永红 从钨矿的开采到硬质合金产品的研发、加工与生产，中钨高新（000657）的目标是成为一家全产业链布 局的世界一流钨产业集团。日前，中钨高新董事长李仲泽在接受中国证券报专访时称，产业链资源整 合、持续的科技创新、产品规模与品质升级，是公司业绩保持增长的三大原因，未来公司还将继续推动 资产注入，持续提升产品品质与技术含量，优化业务结构。 "我们处在一个从学习、追赶、并跑到领跑的过程。"李仲泽如此评价公司在全球产业链中的所处阶段。 目前，中钨高新旗下柿竹园公司拥有全球在产的最大单体钨矿山，上半年，公司钨精矿产量、硬质合金 产量稳居全球第一。近日，中钨高新披露的2025年半年报显示，公司实现营收与利润双增长，延续了过 去五年的增长趋势。在实地采访中，李仲泽深入剖析了业绩增长的核心逻辑，勾勒出中钨高新未来发展 的蓝图。 全产业链协同 谈及过 ...

2025年上半年，中钨高新实现营业收入78.49亿元，同比增长3.09%；扣非净利润为4.84亿元，同比增长 310.54%。 二级市场上，K线图显示，中钨高新股价从年初的9.05元/股涨至9月8日收盘的19.79元/股，2025年年内 涨幅达118.67%。 长江商报消息 ●长江商报记者 潘瑞冬 中钨高新（000657.SZ）业绩股价双双高增。 对于钨价走势，公司在投资者活动中表示，钨作为国家战略性稀缺资源，其供给端受到国家开采配额管 控、环保监管趋严以及在产矿山资源品位自然下降等多种因素影响，2025年叠加出口管制、第一批配额 下降等因素，进一步推动供求紧平衡，对钨价形成有力支撑。 钨价保持高位运行，完成收购湖南柿竹园有色金属有限责任公司（以下简称"柿竹园公司"），推动公司 盈利水平提升。 同时，长江商报记者注意到，中钨高新研发投入跃上新台阶，推动毛利率提升。近两年半，公司研发费 用合计达16.32亿元。2025年上半年，公司毛利率增至21.18%。 主营业务盈利能力大幅提升 中钨高新是中国五矿旗下钨产业的运营管理平台，拥有集矿山、冶炼、加工于一体的完整钨产业链。 2025年上半年，中钨高新的主营业务盈利 ...

Core Viewpoint - Tungsten prices remain high, positively impacting the company's performance due to its strong resource base and innovative product offerings [1] Group 1: Company Performance - The company benefits from owning high-quality mining enterprises, directly profiting from the rise in tungsten and other associated metal prices [1] - The company's hard alloy segment focuses on innovation, continuously optimizing product structure, which increases the proportion of high-value-added products [1] Group 2: Market Conditions - The overall high tungsten price environment is favorable for the company's performance [1] - The ability to resist risks from raw material price fluctuations is enhanced by the increasing share of high-value-added products [1]

Group 1: Company Overview and Strategy - Zhongtung High-tech Materials Co., Ltd. is a platform for tungsten industry management under China Minmetals, integrating mining, smelting, and deep processing [2] - The company will actively seize opportunities from the Hainan Free Trade Port policies to enhance its tungsten industry and improve the quality of the listed company [3] Group 2: Market Conditions and Impact on Profit - Tungsten prices are currently high due to supply-demand dynamics, influenced by national mining quotas, stricter environmental regulations, and declining resource grades [3] - The high tungsten prices are beneficial for the company's performance, as it owns quality mining enterprises that directly benefit from rising tungsten and associated metal prices [3] Group 3: Future Plans and Acquisitions - The company plans to actively pursue the acquisition of assets from four other mines to minimize related transactions and eliminate industry competition, thereby enhancing profitability [3]

Market Overview - The non-ferrous metal sector has seen a strong rebound, with the Shenwan Non-Ferrous Metal Index rising by 8.59% over the past two weeks, ranking fifth among 31 primary industries [7] - The market has shown significant structural differentiation, with small metals, precious metals, and new materials performing particularly well, while rare earths, copper, and aluminum have attracted substantial capital [1][2] Precious Metals - Gold and silver prices have strengthened, with COMEX gold closing at $3,516 per ounce, reflecting a year-to-date increase of 31.63%, while silver has risen by 35.88% [1][17] - The demand for gold from global central banks continues to rise, enhancing its financial attributes, leading to increased investment in companies like Shandong Gold, Zhongjin Gold, and Hunan Gold [1][17] Industrial Metals - Copper prices have shown a strong upward trend, with LME copper settling at $9,805 per ton, up 12.89% year-to-date, driven by expectations of increased infrastructure investment and demand from the renewable energy sector [2][23] - Aluminum prices are constrained by production capacity limits, with domestic electrolytic aluminum capacity reaching 44 million tons, while demand from the new energy sector remains robust [2][27] Rare Earths - The rare earth sector has experienced a strong performance, with the rare earth price index rising by 6.39% over the past two weeks and 37.44% year-to-date [2][41] - Recent policy changes have tightened supply controls, benefiting companies like China Rare Earth, Northern Rare Earth, and Shenghe Resources [2][41][55] Small Metals - The small metals sector has seen significant price increases, with black tungsten concentrate prices rising by 24.26% over the past two weeks and 75.52% year-to-date [3][30] - Tin prices have also increased due to raw material shortages and recovering semiconductor demand, benefiting companies like Tin Industry Co., Huaxi Nonferrous Metals, and Xingye Silver Tin [3][31] Energy Metals - The energy metals sector has shown mixed performance, with electrolytic cobalt prices rising by 1.33% over the past two weeks and 86.71% year-to-date, while lithium carbonate prices have decreased by 3.69% in the short term but remain positive year-to-date [3][47][49] - Companies like Zijin Mining, Ganfeng Lithium, and Huayou Cobalt are positioned well across multiple supply chains, benefiting from low inventory and downstream replenishment demand [3][47] Fund Flow and Market Sentiment - The non-ferrous metal ETF has seen record trading volumes, with significant inflows into rare earth and copper sectors, indicating strong market sentiment and recognition of the sector's growth potential [3][56] - The market is shifting towards low-valuation, high-growth segments, with leading companies benefiting from favorable conditions [3][56]

Core Viewpoint - Zhongtung High-tech has experienced significant stock price growth this year, with a year-to-date increase of 131.05% and notable recent gains over various trading periods [1][2]. Company Overview - Zhongtung High-tech Materials Co., Ltd. is located in Zhuzhou, Hunan Province, and was established on March 18, 1993, with its listing date on December 5, 1996 [2]. - The company specializes in the research, development, production, sales, and trade of hard alloys and rare metals such as tungsten, molybdenum, tantalum, and niobium [2]. - The revenue composition includes: 34.74% from ore and powder products, 23.13% from other hard alloys, 21.68% from cutting tools, 16.23% from refractory metals, and 4.22% from trade and equipment [2]. Financial Performance - For the first half of 2025, Zhongtung High-tech achieved operating revenue of 7.849 billion yuan, representing a year-on-year growth of 15.31%, and a net profit attributable to shareholders of 510 million yuan, reflecting a substantial increase of 247.28% [2]. - The company has distributed a total of 880 million yuan in dividends since its A-share listing, with 854 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders for Zhongtung High-tech was 46,800, a decrease of 8.15% from the previous period, with an average of 26,620 circulating shares per shareholder, an increase of 8.85% [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited as the third-largest shareholder with 29.916 million shares, and Southern CSI 1000 ETF as the sixth-largest with 8.405 million shares [3].

Group 1 - The stock price of Zhongtung High-tech has increased by 5.17% on September 1, reaching 21.75 CNY per share, with a trading volume of 2.163 billion CNY and a turnover rate of 8.16%, resulting in a total market capitalization of 49.567 billion CNY [1] - Zhongtung High-tech's stock has risen for six consecutive days, with a cumulative increase of 13.56% during this period [1] - The company specializes in the research, development, production, sales, and trade of hard alloys and rare metals such as tungsten, molybdenum, tantalum, and niobium, with its main business revenue composition being: 34.74% from ore and powder products, 23.13% from other hard alloys, 21.68% from cutting tools, 16.23% from refractory metals, and 4.22% from trade and equipment [1] Group 2 - According to data from the top ten heavy stocks of funds, one fund under Guotai Fund has a significant holding in Zhongtung High-tech. The Guotai Jinlong Industry Select Mixed Fund (020003) held 2.4285 million shares in the second quarter, accounting for 3.45% of the fund's net value, making it the third-largest heavy stock [2] - The floating profit from the stock during the six-day increase is approximately 599.84 thousand CNY, with a current floating profit of about 259.85 thousand CNY [2] - The Guotai Jinlong Industry Select Mixed Fund (020003) has a total asset scale of 834 million CNY, with a year-to-date return of 20.28% and a one-year return of 49.65% [2]

Group 1 - The stock price of Zhongtung High-tech has increased by 5.17% to 21.75 CNY per share, with a total market capitalization of 49.567 billion CNY and a trading volume of 2.163 billion CNY, reflecting a turnover rate of 8.16% [1] - Zhongtung High-tech has experienced a continuous rise in stock price for six consecutive days, with a cumulative increase of 13.56% during this period [1] - The company specializes in the research, development, production, sales, and trade of hard alloys and rare metals such as tungsten, molybdenum, tantalum, and niobium, with its main business revenue composition being: 34.74% from ore and powder products, 23.13% from other hard alloys, 21.68% from cutting tools, 16.23% from refractory metals, and 4.22% from trade and equipment [1] Group 2 - According to data, Dachen Fund has one fund heavily invested in Zhongtung High-tech, specifically the Dachen Shengshi Flexible Allocation Mixed A Fund, which reduced its holdings by 270,600 shares in the second quarter, maintaining 400,000 shares, representing 4.68% of the fund's net value [2] - The Dachen Shengshi Flexible Allocation Mixed A Fund has achieved a year-to-date return of 20.15%, ranking 3924 out of 8254 in its category, and a one-year return of 43.71%, ranking 3205 out of 8037 [2] - The fund manager, Zhao Peng, has been in charge for 2 years and 30 days, with the fund's total asset size at 1.283 billion CNY and the best return during his tenure being 38.79% [2]