中钨高新材料股份有限公司 关于 2021 年限制性股票激励计划预留授予第二个 证券代码：000657 证券简称：中钨高新 公告编号：2025-95 解锁期解锁股份上市流通的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1、本次解锁的限制性股票授予日为 2022 年 6 月 1 日，股票上 市日为 2022 年 7 月 8 日，上市流通日为 2025 年 8 月 11 日。 2、本次符合解锁条件的激励对象人数为 34 人。 3、解除限售股数量：本次限制性股票解锁数量为 676,800 股， 占公司目前总股本的 0.0297%。 中钨高新材料股份有限公司（以下简称"公司"）于 2025 年 7 月 25 日召开第十一届董事会第三次临时会议，审议通过了《中钨高 新材料股份有限公司关于限制性股票激励计划首次授予第三个解锁 期及预留授予第二个解锁期解锁条件成就的议案》，公司限制性股票 激励计划预留授予限制性股票第二个解锁期解锁条件已成就，同意公 司按照相关规定办理解锁事宜。根据公司 2021 年第二次临时股东大 2、2021 年 5 月 9 ...

证券代码：000657 证券简称：中钨高新 公告编号：2025-94 中钨高新材料股份有限公司 关于 2021 年限制性股票激励计划首次授予部分第三个 解锁期解锁股份上市流通的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1、本次解锁的限制性股票授予日为 2021 年 7 月 2 日，股票上 市日为 2021 年 7 月 22 日，上市流通日为 2025 年 8 月 11 日。 2、本次符合解锁条件的激励对象人数为 125 人。 3、解除限售股数量：本次限制性股票解锁数量为 7,370,990 股，占公司目前总股本的 0.3234%。 中钨高新材料股份有限公司（以下简称"公司"）于 2025 年 7 月 25 日召开第十一届董事会第三次临时会议，审议通过了《中钨高 新材料股份有限公司关于限制性股票激励计划首次授予第三个解锁 期及预留授予第二个解锁期解锁条件成就的议案》，公司限制性股票 激励计划首次授予限制性股票第三个解锁期解锁条件已成就，同意公 司按照相关规定办理解锁事宜。根据公司 2021 年第二次临时股东大 会的授权，公司按规 ...

Core Viewpoint - The report from Guosheng Securities indicates that the long-term quotes from major tungsten manufacturers have significantly increased, suggesting a continued upward trend in tungsten prices due to ongoing supply-demand tightness [1][2]. Price Trends - As of August 5, the prices for black tungsten concentrate, APT, and tungsten carbide powder have risen by 12%, 13%, and 14% respectively compared to early July, with current prices at 194,500 CNY/ton, 285,000 CNY/ton, and 422,500 CNY/ton [2]. - The long-term quotes for major manufacturers in early August include: Xiamen Tungsten Industry at 279,500 CNY/ton for APT, Zhangyuan Tungsten at 192,500 CNY/ton for black tungsten concentrate and 283,000 CNY/ton for APT, and Jiangxi Tungsten Group at 194,000 CNY/ton for black tungsten concentrate [2]. Market Dynamics - The current strong performance of tungsten prices is driven by three factors: the manufacturing sector is at a cyclical low, inventory levels among industries and traders are low, and external tungsten prices have been rising since June, reflecting a recovery in exports [3]. - The price gap between domestic and international tungsten prices has reached historical highs, indicating strong demand for domestic products as external markets recover [3]. Supply Situation - The long-term quotes from major manufacturers are close to market price announcements, indicating that the tight supply situation persists [4]. - The Bakuta tungsten mine in Kazakhstan has resumed normal shipments since May, with an average monthly output of around 800 tons. However, the domestic tungsten price remains strong, suggesting that local demand and supply constraints have effectively mitigated any potential market disruption from this new supply [5]. Investment Recommendations - Companies positioned at both ends of the tungsten industry chain are expected to benefit from the rising tungsten prices. Recommended stocks include Zhongtung High-tech (000657.SZ) and Anyuan Coal Industry (600397.SH), with related stocks being Xiamen Tungsten Industry (600549.SH), Zhangyuan Tungsten (002378.SZ), and Xianglu Tungsten (002842.SZ) [6].

Investment Rating - The report maintains a "Buy" rating for the companies involved in the tungsten industry, specifically recommending Zhongtung High-tech and Anyuan Coal Industry [4]. Core Viewpoints - The tungsten price is expected to continue rising due to tight supply and demand dynamics, with significant price increases observed in various tungsten products as of early August [1][2]. - The report identifies three main reasons for the strong performance of tungsten prices: the manufacturing sector is at a cyclical bottom, low inventory levels prompting restocking, and a recovery in export demand since June [2][3]. - The long-term outlook for tungsten prices remains positive due to persistent supply constraints and the scarcity of resources, which is likely to elevate the price center [4]. Summary by Sections Market Prices - As of August 5, 2023, black tungsten concentrate prices reached 194,500 CNY/ton, up 12% from early July; APT prices were 285,000 CNY/ton, up 13%; and tungsten carbide powder prices were 422,500 CNY/ton, up 14% [1]. Long-term Quotes - Major companies have set long-term quotes close to market prices, indicating ongoing raw material shortages. For instance, Xiamen Tungsten's APT quote was 279,500 CNY/ton, while Zhangyuan Tungsten's black tungsten concentrate was quoted at 192,500 CNY/ton [2][3]. Supply and Demand Dynamics - The report notes that the domestic tungsten price remains strong despite the normal output from the Bakuta tungsten mine in Kazakhstan, which has a capacity of nearly 10,000 tons of tungsten concentrate per year. The market has absorbed this supply increase without significant price drops [3]. Investment Recommendations - The report suggests that short-term price elasticity will be driven by restocking and export recovery, while long-term supply issues will support higher tungsten prices. Recommended stocks include Zhongtung High-tech and Anyuan Coal Industry, with related stocks being Xiamen Tungsten, Zhangyuan Tungsten, and Xianglu Tungsten [4].

Market Performance - The small metals sector increased by 0.49% on August 6, with Jintian Titanium leading the gains [1] - The Shanghai Composite Index closed at 3633.99, up 0.45%, while the Shenzhen Component Index closed at 11177.78, up 0.64% [1] Individual Stock Performance - Jintian Titanium (688750) closed at 23.01, up 4.64% with a trading volume of 119,700 shares and a transaction value of 273 million yuan [1] - Baotai Co. (600456) closed at 32.62, up 3.56% with a trading volume of 257,500 shares and a transaction value of 843 million yuan [1] - Caoyuan Tungsten (002378) closed at 9.33, up 2.64% with a trading volume of 439,600 shares and a transaction value of 409 million yuan [1] - Other notable performers include Baowu Magnesium (002182) up 2.30% and Zhongtung High-tech (000657) up 2.09% [1] Capital Flow Analysis - The small metals sector experienced a net outflow of 452 million yuan from main funds, while retail investors saw a net inflow of 355 million yuan [2][3] - The main funds showed a significant outflow from Jintian Titanium, with a net outflow of 37.02 million yuan [3] - Retail investors contributed positively to Jintian Titanium with a net inflow of 7.50 million yuan [3] Summary of Key Stocks - Jintian Titanium had a notable trading day with a significant increase in share price despite main fund outflows [1][3] - Baotai Co. and Caoyuan Tungsten also showed positive price movements, indicating investor interest in these stocks [1] - The overall small metals sector reflects mixed capital flows, with retail investors actively participating [2][3]

此次注册资本的大幅增加，标志着中钨高新在资金实力上的进一步壮大。这不仅有助于公司提升研发和生产能力，扩大市场份额，还将为其在有色金属行业 的持续发展奠定坚实的基础。未来，随着公司业务的不断拓展和深化，中钨高新有望在行业内发挥更加重要的作用。 | | 都在用的商业查询工具 | 草公司 查老板 | | | | | | | 商关系 | 音风险 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 中心的发展子其全旗下机构 | 中钨高新材料股份有限公司 | | 天眼一下 | 品应用 · | 商务合作 | × | | | | | 基本信息 180 | 上市信息 999+ | 法律诉讼 2 | | 经营信息 999+ | 公司发展 42 | | | | | 经营风险 999+ | | 主要股东 2 ● | 器 股权结构 | | | | | | | | | | | 最新公示 15 | 工商登记1 历史主要股东2 股权变更历程 108 ⑦ | VIP | | 更新日期⑦:2025-04-16 | | 股东莱亚· | | (7 | | ...

天眼查App显示，近日，中钨高新（000657）发生工商变更，注册资本由约14亿人民币增至约20.9亿人民币，增幅约50%。 中钨高新材料股份有限公司成立于1993年3月，法定代表人为李仲泽，经营范围包括硬质合金和钨、钼、钽、铌等有色金属及其深加工产品和装备的研制、 开发、生产、销售及贸易业务等。股东信息显示，该公司由中国五矿股份有限公司、五矿钨业集团有限公司、国新投资有限公司等共同持股。 | | | 都在用的商业查询工具 | 音风险 皇公司 首老板 做补知 | | --- | --- | --- | --- | | | | 国家中小企业发展子基金旗下机构 | 中钨高新材料股份有限公司 న్ 天眼一下 脂 应用 · 商务合作 1 | | 基本信息 180 | | 上市信息 999+ | 法律诉讼2 经营风险 999+ 经营信息 999+ 公司发展 42 | | 变更记录 84 0 章 | | | 变更项目 ▼ 品数据纠错 | | 序号 | 李更日期 | 变更项目 | 变更前 | | 1 | 2025-08-04 | 投资人变更(包括出资 额、H资方式、出资目 期、投资人名称等)变 ਵੁ | 有限售条件流通股( ...

天眼查App显示，8月4日，中钨高新（000657）发生工商变更，注册资本由约14亿人民币增至约20.9亿 人民币，增幅约50%。 中钨高新材料股份有限公司成立于1993年3月，法定代表人为李仲泽，经营范围包括硬质合金和钨、 钼、钽、铌等有色金属及其深加工产品和装备的研制、开发、生产、销售及贸易业务等。股东信息显 示，该公司由中国五矿股份有限公司、五矿钨业集团有限公司、国新投资有限公司等共同持股。 ...

Industry Overview - The ammonium paratungstate (APT) industry in China has seen significant development driven by national policy support and market demand, with China being the largest producer and seller of tungsten globally [1][7] - As of June 2025, the price of APT in China reached 251,500 yuan per ton, marking a year-on-year increase of 19.19% [1][7] - The Chinese government has implemented strict total control and quota management on tungsten mining to ensure sustainable resource utilization, with the first batch of tungsten mining indicators for 2025 being tightened, reducing the total control indicator by 4,000 tons, a decrease of 6.45% compared to 2024 [1][7] Supply and Demand Dynamics - The supply of tungsten concentrate is limited due to government policies, which in turn affects APT production [1][7] - There is a continuous increase in demand for APT driven by rapid global manufacturing and infrastructure development, particularly in downstream industries such as hard alloys, tungsten material processing, and petrochemicals [1][7] Production and Profitability - As of June 2025, the operating rate of APT in China was 74.95%, an increase of 9.76 percentage points year-on-year, driven by high APT prices that expanded profit margins for producers [9] - The gross profit margin for APT in the last week of June 2025 was 0.08 yuan per ton, a decrease of 52.94% year-on-year, indicating challenges in maintaining profitability due to raw material price fluctuations and increased competition [11] Export Trends - China has historically been a major exporter of APT, with export volumes significantly exceeding imports. However, in 2025, the implementation of export control policies led to a notable decline in export quantities, with a 52.78% year-on-year decrease in the first five months of 2025 [12] Key Players in the Industry - Major companies in the APT market include Xiamen Tungsten Industry Co., Ltd., Zhangyuan Tungsten Industry Co., Ltd., and Jiangxi Tungsten Industry Group, which are leaders in production scale, technology, and market share [14] - Xiamen Tungsten Industry has an annual APT production capacity of 45,000 tons and is recognized for its high-purity APT production technology [16] - Zhangyuan Tungsten Industry has a production capacity of 22,000 tons per year and has achieved significant improvements in production efficiency through advanced technologies [18] Industry Development Trends - The APT industry is expected to focus on technological innovation and green production methods to enhance product quality and production efficiency while minimizing environmental impact [20] - Companies are likely to accelerate the integration and extension of the industrial chain to enhance competitiveness and reduce risks, potentially through mergers and acquisitions [21] - The demand for APT is anticipated to expand further due to the acceleration of global industrialization and the growth of high-end manufacturing sectors such as renewable energy and aerospace [22]

Group 1 - The company, Jinzhou, is a leading global supplier of precision micro-drills and tools for PCB applications and is recognized as a national manufacturing single champion enterprise [2] - The company currently lacks authoritative data on the market share of PCB micro-drills [2] - The company was asked about its market share and the market gap for its 680 million micro-drill production capacity, as well as the expected market share after capacity expansion [2]