西部材料公告，2025年上半年营业收入15.39亿元，同比下降0.35%。净利润6116.46万元，同比下降 36.03%。公司拟以4.88亿股为基数，向全体股东每10股派发现金红利1元（含税）。 ...

西部金属材料股份有限公司 2025 年半年度报告全文 西部金属材料股份有限公司 2025 年半年度报告 2025 年 8 月 西部金属材料股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 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、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人杨延安、主管会计工作负责人刘咏及会计机构负责人(会计主 管人员)叶闽敏声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本报告中涉及的未来发展计划等前瞻性陈述，不构成公司对投资者的实质 承诺，请投资者注意投资风险。 公司已在报告中描述了公司经营中可能存在的风险，敬请广大投资者注意 投资风险，具体内容请查阅"第三节 管理层讨论与分析"中"十、公司面临的 风险和应对措施"相关内容。 公司经本次董事会审议通过的利润分配预案为：以 488,214,274 股为基 数，向全体股东每 10 股派发现金红利 1 元（含税），送红股 0 股（含税）， 不以公积金转增股本。 1 二、报告期内在中国证监会指定 ...

证券日报网讯西部材料（002149）8月25日在互动平台回答投资者提问时表示，截至2025年8月20日，公 司总股东户数为62911户。 ...

Market Performance - On August 22, the small metals sector rose by 3.16%, with Zhangyuan Tungsten leading the gains [1] - The Shanghai Composite Index closed at 3825.76, up 1.45%, while the Shenzhen Component Index closed at 12166.06, up 2.07% [1] Individual Stock Performance - Zhangyuan Tungsten (002378) closed at 12.16, up 10.05% with a trading volume of 1.3577 million shares and a transaction value of 1.628 billion [1] - Northern Rare Earth (600111) closed at 47.95, up 7.51% with a trading volume of 3.9374 million shares and a transaction value of 18.594 billion [1] - Western Materials (002149) closed at 19.20, up 4.46% with a trading volume of 565,300 shares and a transaction value of 1.074 billion [1] - Anning Shares (002978) closed at 32.35, up 3.92% with a trading volume of 165,900 shares and a transaction value of 542 million [1] - Other notable stocks include Jin Aluminum (601958) at 14.29 (+3.48%), Zhongtung High-tech (000657) at 18.75 (+2.97%), and Xiamen Tungsten (600549) at 27.47 (+2.08%) [1] Capital Flow Analysis - The small metals sector saw a net inflow of 1.186 billion in main funds, while speculative funds experienced a net outflow of 923 million, and retail investors had a net outflow of 263 million [2] - Northern Rare Earth had a main fund net inflow of 147.5 million, while Zhangyuan Tungsten experienced a net outflow of 139 million from speculative funds [3] - Western Materials had a main fund net inflow of 122 million, with a net outflow of 51.7 million from speculative funds [3]

Group 1: Tungsten Price Trends - Tungsten prices have been on the rise throughout the year, with significant increases noted in recent weeks. As of August 20, the price of 65% tungsten concentrate reached 217,000 yuan/ton, up 3,000 yuan/ton from August 19, marking a 51.75% increase since the beginning of the year [5][8] - The price of ammonium paratungstate (APT) at 88.5% purity is reported at 311,500 yuan/ton, reflecting a 47.98% increase year-to-date, while tungsten powder is priced at 482.5 yuan/kg, up 53.91% since the start of the year [5][8] Group 2: Supply and Demand Dynamics - The surge in tungsten prices is attributed to tightening supply and emerging demand. The Ministry of Natural Resources has set a control target for tungsten mining at 58,000 tons for 2025, a reduction of 4,000 tons or 6.45% from the previous year [8] - Major tungsten-producing regions, such as Jiangxi and Yunnan, have also seen reductions in mining output, contributing to a significant decrease in market circulation [8] - Demand for tungsten is growing in various sectors, including aerospace, defense, and electronics, with notable increases in the renewable energy sector, particularly in photovoltaic applications [8] Group 3: Market Performance and Stock Analysis - Tungsten-related stocks in the A-share market have generally performed well, with an average increase of 10.1% since August. Leading stocks include Luoyang Molybdenum, Zhongtung High-tech, and Xianglu Tungsten, with respective gains of 22.48%, 18.99%, and 17.41% [10][14] - The valuation of some tungsten concept stocks remains low, with a median rolling P/E ratio of 30.24 times, and several stocks, including Shengtun Mining and Luoyang Molybdenum, having P/E ratios below 20 times [11][12] - Luoyang Molybdenum is expected to report a net profit of 8.2 to 9.1 billion yuan for the first half of the year, representing a year-on-year growth of 51.37% to 67.98% [12]

Investment Rating - The industry rating is "Outperform the Market" [4] Core Insights - The hydrogen energy index closed at 2322.90 points as of August 8, 2025, with a weekly increase of 3.68% and a year-to-date increase of 30.73% [9][10] - The number of successful bids for electrolyzer projects has increased, and the hydrogen heavy-duty truck has made significant progress, with a 400kW fuel cell hydrogen truck entering the testing phase [36] Summary by Sections 1. Hydrogen Industry Market Performance - The hydrogen energy index has shown an upward trend, ranking 29th among Shenwan secondary industries as of August 8, 2025 [9] - The top five companies in the hydrogen energy sector for weekly gains were Huaguang Huaneng (46.75%), Koweir (39.81%), Sulian Co. (31.25%), ST Diweixun (30.77%), and Chunhui Zhikong (23.31%) [14] 2. Hydrogen Industry Data Review 2.1 Electrolyzer Data Review - A total of 5 successful bids for hydrogen projects were recorded this week, including 3 for electrolyzers, with a total hydrogen production capacity of 3 Nm³/h [16] - New bidding projects for electrolyzers include a total scale of 55 MW and a hydrogen production capacity of 11,000 Nm³/h [18] 2.2 FCV Related Data Review - In July 2025, the production of fuel cell vehicles (FCVs) increased by 21.81% month-on-month, with 229 new units produced [19] - Cumulative production of FCVs reached 1,593 units in the first seven months of 2025, a year-on-year decrease of 54.47% [19] 3. Industry Dynamics and Company Updates 3.1 Industry Dynamics - A 50,000-ton wind-solar green electricity hydrogen liquefaction project has been approved [31] - The world's first 30MW pure hydrogen gas turbine demonstration project has officially started construction [31] 3.2 Hydrogen Company Dynamics - The 400kW fuel cell hydrogen heavy-duty truck developed by Rongcheng New Energy has completed integration and entered the testing phase [34] - Tianhe Yuan Hydrogen's MW-level container hydrogen production equipment has been shipped to Europe for demonstration [34]

Investment Rating - The report rates the military industry as "Overweight" [5] Core Views - The military industry is expected to perform well in the long term due to increasing great power competition and rising defense expenditures [9][20] - Recent developments include the joint naval exercises between China and Russia, and the U.S. building a counter-drone defense system [8][20] - The report highlights the restructuring of China's aviation supply chain and the importance of domestic production capabilities in the aerospace sector [22][23] Summary by Sections Investment Highlights - Recommended stocks include: 1) Assembly: AVIC Shenyang Aircraft (600760.SH), AVIC Xi'an Aircraft (000768.SZ), AVIC South Lake (688552.SH) 2) Components: AVIC Optoelectronics (002179.SZ), Guobang Electronics (603678.SH), Ruichuang Micro-Nano (688002.SH) 3) Subsystems: AVIC Aircraft (600372.SH), North Navigation (600435.SH) 4) Materials and Processing: Feilihua (300395.SZ), Guangwei Composite (300699.SZ), Huayin Technology (688281.SH) [5][9][10] Market Performance - The defense military index rose by 5.24% from August 4 to August 8, outperforming the Shanghai Composite Index by 3.13 percentage points [11][12] - The military industry ranked 3rd out of 29 sectors during this period [12] Major News in the Military Industry - The joint naval exercises "Maritime Joint-2025" between China and Russia included real combat training and operational coordination [20][21] - The U.S. is developing a counter-drone defense system, with Ukraine being a testing ground for various technologies [8][9] - Japan is expanding its military influence through participation in multinational exercises, indicating a shift in its defense posture [28][30]

数据来源：天眼查APP 证券之星消息，根据天眼查APP数据整理，近日，陕西智汇清洁能源科技有限公司成立，法定代表人为 段志强，注册资本10000万元，经营范围包含：一般项目：储能技术服务；新兴能源技术研发；电力行 业高效节能技术研发；新材料技术研发；技术服务、技术开发、技术咨询、技术交流、技术转让、技术 推广；太阳能热利用装备销售；太阳能热发电装备销售；太阳能热利用产品销售；太阳能热发电产品销 售；合同能源管理；节能管理服务；信息技术咨询服务；软件开发；货物进出口；技术进出口；进出口 代理；科技中介服务；创业空间服务；电气设备销售；电子元器件零售；普通机械设备安装服务；电子 元器件与机电组件设备销售；机械设备销售；站用加氢及储氢设施销售；海上风电相关装备销售；海上 风电相关系统研发；电机制造；新能源原动设备制造；新能源原动设备销售；发电机及发电机组制造； 发电机及发电机组销售；风力发电机组及零部件销售；陆上风力发电机组销售；海上风力发电机组销 售；风力发电技术服务。(除依法须经批准的项目外，凭营业执照依法自主开展经营活动)许可项目：发 电业务、输电业务、供(配)电业务。(依法须经批准的项目，经相关部门批准后方 ...

Group 1 - The 2025 Yinchuan New Materials Industry Matching Conference and Western Materials and Energy Academic Conference was held on August 9, 2023, with nearly 300 participants from academia and industry [1] - The conference focused on new materials and renewable energy, discussing energy conversion and storage materials, advanced functional materials, and green low-carbon materials [1] - The event provided a platform for communication among researchers and professionals in the materials science field, aiming to enhance academic research and application levels [1] Group 2 - The New Materials Industry Matching Conference has been successfully held six times, facilitating in-depth exchanges between over 260 experts and more than 600 industry representatives [2] - The conference has led to the implementation of 13 research cooperation projects, including 2 national key projects and 3 regional key projects, contributing to the high-quality development of Ningxia's new materials industry [2] - Starting in 2026, the conference will be renamed to "JMST - Frontiers in Materials Science and Technology Innovation Seminar and Ningxia Materials and New Energy Industry-University-Research Matching Conference" [2]

Group 1 - The core point of the news is that Western Metal Materials Co., Ltd. has invested 9 million RMB to establish Shaanxi Zhihui Clean Energy Technology Co., Ltd., holding a 9% stake in the new company [1] - Shaanxi Zhihui Clean Energy Technology Co., Ltd. was established on August 7, 2025, with a registered capital of 100 million RMB and is located in Xi'an [2] - The new company operates in the power and heat production and supply industry, focusing on various technologies including energy storage, new energy technology research and development, and efficient energy-saving technologies [2] Group 2 - The company offers a wide range of services including technology consulting, energy management, and sales of solar thermal utilization equipment and wind power generation equipment [2] - The company is authorized to engage in power generation, transmission, and supply activities, subject to regulatory approvals [2] - The establishment of this company indicates a strategic move towards clean energy solutions and technological advancements in the energy sector [1][2]