Core Viewpoint - The company, Zhangyuan Tungsten, is adjusting the prices of its hard-facing materials due to a significant increase in tungsten raw material costs, which has led to a substantial rise in production costs [1] Group 1 - The price adjustment for hard-facing materials will take effect from May 20, 2025 [1] - All products will be executed at the new prices starting from the adjustment date [1]

Core Viewpoint - The small metal concept stocks are experiencing a strong upward trend, particularly in the tungsten sector, with significant gains reported among various companies [1] Group 1: Company Performance - Zhangyuan Tungsten Industry has reached its daily limit increase [1] - Xianglu Tungsten Industry and China Tungsten High-tech have both risen over 5% [1] - Other companies such as Xiamen Tungsten Industry, Xingye Silver Tin, Dongfang Zirconium, and Yunnan Germanium have also seen increases [1] Group 2: Market Influences - Zhangyuan Tungsten Industry indicated that the rising prices of tungsten concentrate have a positive impact on the company [1]

Group 1: Capacity Expansion and Market Strategy - The company is focused on upstream resource exploration and integration to ensure orderly replacement of mining resources, with plans for deep mining and infrastructure development to enhance resource reserves and extraction efficiency [1][7] - In the midstream, the company aims to optimize production processes and develop automated production workshops to meet diverse market demands [1][2] - The company’s subsidiary, Ganzhou Aoketai Tool Technology Co., Ltd., is committed to high-value hard alloy markets, particularly in aerospace and new energy sectors [2] Group 2: Environmental and Energy Management - The company has established an integrated management system and obtained ISO14001:2015 and ISO50001:2018 certifications for environmental and energy management [4] - Continuous technological innovation and process improvements are being implemented to optimize energy structure and promote energy-saving technologies [5] - The company emphasizes resource efficiency, clean production, and compliance with environmental regulations, actively promoting green practices among employees [5] Group 3: Financial Performance and Market Challenges - The company’s overseas revenue accounted for 18.71% of total revenue, with a year-on-year decrease of 5.2%, indicating challenges in international trade [5] - The company is focused on enhancing product quality and stability, expanding product categories, and increasing customer loyalty to penetrate overseas markets [5] - The gross margins for core products like tungsten powder and tungsten carbide powder are relatively low at 8.01% and 10.38%, respectively, prompting the company to seek measures to improve profitability [7] Group 4: Resource Management and Future Plans - The company owns six mining rights and ten exploration rights, with ongoing efforts to integrate mining resources and explore deeper mining opportunities [6][7] - New exploration rights are expected to enhance resource integration and expand tungsten concentrate production capacity [7] - The company is committed to maintaining a stable supply of raw materials and improving product competitiveness to mitigate the impact of raw material price fluctuations [7][9]

关于参加江西辖区上市公司 2025 年投资者 网上集体接待日活动的公告 证券代码：002378 证券简称：章源钨业 公告编号：2025-030 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。 崇义章源钨业股份有限公司 为进一步加强与投资者的互动交流，崇义章源钨业股份有限公司（以下简称 "公司"）将参加由江西省上市公司协会举办的"2025 年江西辖区上市公司投资者 网上集体接待日活动"，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP，参 与本次互动交流，活动时间为 2025 年 5 月 21 日（周三）15:30-17:00。届时公司 高管将在线就 2024 年度及 2025 年第一季度业绩、公司治理、发展战略、经营状 况和可持续发展等投资者关心的问题，与投资者进行沟通与交流，欢迎广大投资 者踊跃参与！ 特此公告。 崇义章源钨业股份有限公司董事会 2025 年 5 月 15 日 1 ...

Financial Performance - In 2024, the company achieved an operating revenue of CNY 367,325.17 million, representing an 8.02% increase year-on-year [2] - The net profit attributable to shareholders was CNY 17,202.86 million, reflecting a 19.50% growth compared to the previous year [2] - For Q1 2025, the operating revenue reached CNY 118,625.34 million, marking a 35.74% increase year-on-year [2] - The net profit attributable to shareholders for Q1 2025 was CNY 4,256.78 million, a significant increase of 56.46% year-on-year [2] Mining Operations - In 2024, the production of tungsten concentrate (65%) was 3,739 tons, a decrease of 9.99% year-on-year [3] - The production of tin concentrate (100% metal content) was 828 tons, down 6.12% year-on-year [3] - Copper concentrate production (100% metal content) increased by 1.81% to 449 tons [3] - The self-sufficiency rate for tungsten raw materials was approximately 20% in 2024 [4] Resource Integration - The company is advancing resource integration, with the verification report for the Taoxikeng tungsten mine and Dongfeng's resources approved by the Ministry of Natural Resources [5] - The verification reports for the Xin'anzi tungsten-tin mine and Longtanmian, as well as the deep resource verification report for Dayu Shilei tungsten mine, are nearing completion [5][6] Powder Product Sales - In 2024, tungsten powder sales were 3,980 tons, a decrease of 4.67% year-on-year [7] - Sales of tungsten carbide powder were 4,923 tons, showing a slight increase of 0.20% [7] - Sales of thermal spray powder decreased by 12.22% to 388 tons [7] - In Q1 2025, the company experienced an increase in product sales due to enhanced customer loyalty [7] Subsidiary Performance - In 2024, Ganzhou Aoketai reported operating revenue of CNY 66,599.13 million, a growth of 21.93% year-on-year [8] - The net profit was a loss of CNY 682.28 million, an improvement from a loss of CNY 4,193.11 million in the previous year [8] - Gaining traction in various sectors, Aoketai increased sales of coated blades by 6.22% to 2,168 million pieces and rod sales by 12.19% to 773 tons [8] Market Impact - The rise in tungsten concentrate prices has a generally positive impact on the company, although significant fluctuations in raw material prices could affect production costs and operational performance [9] Future Development Plans - The company aims to focus on efficient utilization and development of tungsten resources, emphasizing high-performance, high-precision, and high-value-added hard alloys [10] - Plans include resource exploration, deep mining development, and digital transformation of production facilities [11] - The strategy involves enhancing production processes, developing specialized powder products, and targeting high-value markets such as aerospace and new energy [11]

Summary of Key Points from Conference Call Records Industry or Company Involved - **Tungsten Industry**: Focus on strategic minerals and the impact of export controls on tungsten - **Huaihe Energy**: Involvement in coal, electricity, and logistics sectors - **5G-A Technology**: Development and deployment of advanced 5G technology Core Points and Arguments Tungsten Industry 1. **Export Control Measures**: The government has initiated actions to combat the smuggling of strategic minerals, including tungsten, which is essential in various industries such as automotive and aerospace [3][1] 2. **Tungsten Characteristics**: Tungsten is recognized for its high melting point, hardness, density, and thermal conductivity, earning it the nickname "industrial teeth" [3][1] 3. **Global Tungsten Supply**: By 2024, global tungsten reserves are projected to reach 4.6 million metric tons, with China contributing over 80% of the world's tungsten production [7][1] 4. **Demand and Applications**: The demand for tungsten is expected to reach 142,000 metric tons in 2024, primarily for hard alloys and tungsten steel, with significant applications in automotive and defense sectors [7][1] 5. **Recycling and Supply Challenges**: China's tungsten recycling rate is only 17%, indicating a gap in recovery and quality compared to international standards, which may affect future supply [7][1] Huaihe Energy 1. **Asset Injection Impact**: The company plans to acquire a significant stake in Huaihe Energy Power Group, which is expected to enhance its operational capacity and increase net profit by 105% [8][1] 2. **Coal Supply and Production**: Huaihe Energy has a strong coal supply chain, with a high coverage rate for long-term contracts, which positions it competitively in the market [11][1] 3. **Future Growth Potential**: The company has additional coal and power assets that could further increase its operational scale, with potential for significant growth in the coming years [11][1] 5G-A Technology 1. **Performance Enhancements**: 5G-A technology is expected to increase upload and download speeds by tenfold, significantly improving connectivity and reducing latency [12][1] 2. **Global Deployment**: Testing networks for 5G-A have been established across 31 provinces in China, with plans for expansion into international markets [12][1] 3. **Investment in Infrastructure**: There is a notable increase in capital expenditure from operators for 5G-A, indicating a strong commitment to enhancing network capabilities [15][1] Other Important but Possibly Overlooked Content - **Market Trends**: The tungsten sector is experiencing a bullish trend due to government actions against smuggling and the strategic importance of tungsten in various applications [4][1] - **Stock Performance**: Several companies within the tungsten industry and those involved in 5G technology have seen significant stock price increases, reflecting positive market sentiment [9][1][13][1] - **Long-term Outlook**: The overall outlook for both the tungsten industry and 5G-A technology remains positive, with expectations of sustained demand and growth opportunities in the coming years [7][1][15][1]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002378 证券简称：章源钨业 公告编号：2025-028 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. 董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，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。 □是 √否 ■ （二） 非经常性损益项目和金额 √适用 □不适用 单位：元 2. 公司负责人黄世春、主管会计工作负责人范迪曜及会计机构负责人（会计主管人员）赵本林声明：保 证季度报告中财务信息的真实、准确、完整。 3. 第一季度报告是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 ■ 其他符合非经常性损益定义的损益项目的具体情况 √适用 □不适用 年初至报告期末"其他符合非经常性损益定义的损益项目"发生额-1,733,089.68元，系公司对大余石雷钨 矿尾矿库进行风险隐患治理，对尾矿库实施闭库产生的费用。 将《公开发行证券的公司信息披露解释性公告第1号一一非经常性损 ...

证券代码：002378 证券简称：章源钨业 公告编号：2025-025 崇义章源钨业股份有限公司 第六届董事会第十七次会议决议公告 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。 一、董事会会议召开情况 崇义章源钨业股份有限公司（以下简称"公司"）第六届董事会第十七次会议（以 下简称"会议"）通知于 2025 年 4 月 15 日以专人送达、电话或电子邮件的形式发 出，于 2025 年 4 月 26 日在公司会议室以现场结合视频方式召开。本次会议应出 席董事 9 名，实际出席董事 9 名，其中董事、总经理黄世春先生及董事潘峰先生、 独立董事王京彬先生通讯表决。本次会议由董事长黄泽兰先生主持，公司监事及部 分高级管理人员列席了会议。本次会议的召开符合《中华人民共和国公司法》及公 司《章程》的规定。 二、董事会会议审议情况 表决结果：同意票 9 票，反对票 0 票，弃权票 0 票。 公司第六届董事会审计委员会于 2025 年 4 月 25 日召开 2025 年第三次会议， 事前审议通过本议案。 具体内容参见公司 2025 年 4 月 29 日披露于《证券时报》《中 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥1,186,253,423.19, representing a 35.74% increase compared to ¥873,946,805.15 in the same period last year[4] - Net profit attributable to shareholders was ¥42,567,795.73, up 56.46% from ¥27,206,530.54 year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥40,923,722.81, reflecting a 69.64% increase from ¥24,124,511.84 in the previous year[4] - Basic and diluted earnings per share both increased to ¥0.04, doubling from ¥0.02 in the previous year[5] - Total operating revenue for the current period reached ¥1,186,253,423.19, an increase of 35.7% compared to ¥873,946,805.15 in the previous period[32] - Net profit for the current period was ¥42,413,447.49, representing a 58.5% increase from ¥26,736,401.99 in the previous period[33] - Total comprehensive income for the period reached CNY 42,570,678.09, compared to CNY 27,206,660.45 in the previous period, representing a growth of approximately 56.5%[34] Cash Flow - The net cash flow from operating activities improved significantly to -¥5,742,471.85, a 96.73% improvement from -¥175,851,809.83 in the same period last year[4] - Cash inflow from operating activities increased by 396.88 million yuan, a growth of 68.78%, due to increased sales orders[19] - Cash outflow from operating activities increased by 226.77 million yuan, a growth of 30.12%, mainly due to increased cash payments for purchased goods[19] - Net cash flow from operating activities increased by 170.11 million yuan, a growth of 96.73%, as cash received from sales exceeded cash paid for purchases[19] - Cash inflow from operating activities totaled CNY 973,929,490.09, up from CNY 577,050,141.97, indicating a growth of approximately 68.6%[36] - Cash outflow for operating activities increased to CNY 979,671,961.94 from CNY 752,901,951.80, reflecting a rise of about 30.1%[36] - Net cash flow from investing activities was negative at CNY -55,045,669.69, compared to CNY -78,527,232.99 in the previous period, showing an improvement[36] - Cash inflow from financing activities decreased to CNY 302,463,230.00 from CNY 755,245,000.00, a decline of approximately 60%[37] - Cash outflow for financing activities was CNY 338,345,195.44, down from CNY 668,151,454.84, indicating a reduction of about 49.3%[37] - The ending cash and cash equivalents balance was CNY 273,992,192.02, down from CNY 347,360,704.47, a decrease of approximately 21.1%[37] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,898,501,840.97, a decrease of 1.52% from ¥4,974,113,488.54 at the end of the previous year[5] - Current assets totaled ¥2,609,498,444.52, down 3.8% from ¥2,711,414,337.43 at the beginning of the period[28] - Inventory decreased to ¥1,262,060,958.78, a reduction of 12% from ¥1,434,985,058.50[27] - Short-term borrowings increased to ¥839,423,022.86, up 2.4% from ¥815,577,196.36[29] - The company's total liabilities decreased to ¥2,720,022,379.06 from ¥2,839,308,054.46, a decline of 4.2%[30] - The company's equity attributable to shareholders rose to ¥2,174,662,561.17, an increase of 2% from ¥2,130,834,185.10[30] Operating Costs and Income - The company experienced a 39.74% increase in operating costs, amounting to ¥102,260,850.00 compared to ¥73,181,120.00 in the previous year[15] - Total operating costs amounted to ¥1,124,186,962.78, up 36.1% from ¥826,126,585.79 in the prior period[32] - The company recorded a 92.28% increase in non-operating income, totaling ¥32,860.00 compared to ¥17,090.00 in the same period last year[15] - Operating costs increased by 290.80 million yuan, a growth of 39.74%, mainly due to increased product sales[16] - Other income rose by 3.29 million yuan, an increase of 38.65%, primarily from VAT input tax deductions for advanced manufacturing enterprises[16] - Investment income decreased by 0.99 million yuan, down 85.01%, mainly due to increased financing discount interest on receivables[16] Shareholder Information - Total number of ordinary shareholders at the end of the reporting period was 56,219[23] - The largest shareholder, Chongyi Zhangyuan Investment Holding Co., Ltd., holds 58.72% of shares, totaling 705,524,056 shares[23] Research and Development - Research and development expenses for the current period were ¥17,748,229.94, an increase of 22.5% compared to ¥14,502,565.72 in the previous period[32] Audit Status - The first quarter report was not audited, indicating that the financial data may be subject to further review[38]

证券代码：002378 证券简称：章源钨业 公告编号：2025-029 崇义章源钨业股份有限公司 关于举行 2024 年度暨 2025 年第一季度业绩说明会的公告 公司出席本次业绩说明会人员：董事、总经理黄世春先生，董事、常务副总 经理、财务总监范迪曜先生，董事、副总经理、董事会秘书刘佶女士，独立董事 王平先生（如遇特殊情况，参会人员可能进行调整）。 三、投资者参加方式及问题征集 1. 参加方式 投资者可于 2025 年 5 月 15 日（星期四）15:00-16:00，通过网址 https://eseb.cn/1nHTe0pqjcc 或使用微信扫描下方小程序码即可进入参与互动交流。 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。 崇义章源钨业股份有限公司（以下简称"公司"）分别于 2025 年 4 月 22 日、 4 月 29 日在《证券时报》《中国证券报》《上海证券报》和巨潮资讯网 （http://www.cninfo.com.cn）披露了《2024 年年度报告及其摘要》《2025 年第一 季度报告》。为便于广大投资者更加全面深入地了解公司经营业绩、发展战 ...