Core Viewpoint - Tungsten, known as "industrial teeth," is experiencing a surge in demand and price due to supply constraints and strong market demand [1][2]. Group 1: Price Increases - The long-term procurement prices for tungsten products have significantly increased, with 55% black tungsten concentrate rising by 28.1% to 670,000 CNY/ton and 55% white tungsten concentrate increasing by 28.2% to 669,000 CNY/ton [2][3]. - Ammonium paratungstate (standard grade zero) long-term procurement price rose by 27.6% to 970,000 CNY/ton [2]. Group 2: Supply and Demand Dynamics - Domestic mining operations are conservatively producing, leading to a weak market increment expectation and further price adjustments for long-term contracts [2]. - The supply side is facing tightening due to stricter safety and environmental regulations, resulting in decreased production and shipments from some mines [2][3]. - Demand remains stable, primarily driven by essential purchases, particularly in the PCB tool sector [2]. Group 3: Future Price Outlook - Institutions are optimistic about the future price of tungsten, with expectations for continued strong performance and new highs [3]. - The global tungsten production is projected to increase from 82,800 tons in 2025 to 89,900 tons by 2028, while demand is expected to rise from 102,100 tons to 110,000 tons, indicating a potential supply-demand gap [3]. Group 4: Stock Market Response - A-share tungsten concept stocks have reacted positively to the price increases and supply-demand changes, with several stocks hitting the daily limit [4]. - Notable performers include Xianglu Tungsten Industry and Zhangyuan Tungsten Industry, both of which saw significant price increases [4][5]. - Xianglu Tungsten Industry has achieved a cumulative increase of 166.32% this year, reflecting strong market interest [5].

Core Viewpoint - The article highlights the rising prices of tungsten and rare earth metals, with tungsten reaching a historical high, amidst increasing global competition for critical minerals [1]. Group 1: Market Performance - On February 12, the three major indices collectively rose, with the ChiNext Index increasing by over 1% [1]. - Small metal sectors showed significant activity, with companies like Xianglu Tungsten and Dongfang Tantalum experiencing notable stock performance [1]. Group 2: Supply and Demand Dynamics - The market anticipates increased demand for replenishment after the Spring Festival, leading to improved short-term transaction volumes [1]. - The current supply situation for tungsten remains tight, with challenges such as reduced mining quotas, declining year-end shipments, and unstable import volumes [1]. - The global tungsten market faces a pronounced supply-demand imbalance, making it difficult to resolve short-term issues [1].

Group 1 - A-shares experienced a total of 69 stocks hitting the daily limit up and 22 stocks hitting the daily limit down on February 12 [1] - The non-ferrous tungsten sector was notably active, with Xianglu Tungsten Co. achieving three consecutive limit ups in five days, and Zhangyuan Tungsten Co. achieving two consecutive limit ups [1] - ST Jinglan achieved ten limit ups in fourteen days, while ST Zhongdi achieved six consecutive limit ups [1] Group 2 - Several stocks recorded multiple consecutive limit ups, including Dawi Technology and Zhangyue Technology with four consecutive limit ups, and Haimass Data with three limit ups in five days [1] - Stocks such as ST Guohua and ST Cuihua faced significant declines, with ST Guohua experiencing nine consecutive limit downs and ST Cuihua three consecutive limit downs [1] - Other stocks like ST Jianlun and ST Xiongmao also faced consecutive limit downs, indicating a trend of declining performance in certain sectors [1]

Market Overview - The Shanghai Composite Index experienced narrow fluctuations, while the Shenzhen Component and ChiNext indices saw upward movements, with the Shanghai and Shenzhen markets recording a half-day trading volume of 1.33 trillion yuan, an increase of 30.7 billion yuan from the previous trading day [1] - Over 2,700 stocks in the market rose, with notable strength in the electric grid equipment sector, where companies like Suyuan Electric and Sifang Co. reached new highs [1] - The non-ferrous metals sector remained active, with Xianglu Tungsten and Zhangyuan Tungsten achieving consecutive gains [1][7] - The CPO concept stocks surged again, with Tianfu Communication rising over 10% to set a new historical high [1] - The gas turbine concept stocks exploded, with Yingliu Co. and Changbao Co. hitting the daily limit [1] Electric Grid Equipment Sector - The electric grid equipment sector showed strong performance, with stocks like Suyuan Electric, Sifang Co., Shun Sodium Co., and Senyuan Electric hitting the daily limit [1][12] - The sector's growth is supported by a significant increase in transformer exports, which reached a record value of 64.6 billion yuan in 2025, marking a nearly 36% increase from the previous year [2][3] Non-Ferrous Metals Sector - The non-ferrous metals sector saw a notable increase, with black tungsten concentrate prices rising by 25.19% to 671,000 yuan per ton, and ammonium paratungstate prices increasing by 24.68% to 985,000 yuan per ton [7][17] - The Producer Price Index (PPI) showed a positive growth of 0.4% month-on-month in January 2026, the highest growth rate since May 2022, indicating potential price increases in the non-ferrous, electronics, and chemical industries [7] Liquid Cooling and Computing Power Rental Sector - The liquid cooling concept stocks also performed well, with companies like Chuanrun Co., Bojie Co., and Yingwei Co. hitting the daily limit [3][10] - The computing power rental sector remained active, with stocks like Dazhi Technology achieving four consecutive gains, and UCloud announcing a price increase for all cloud products and services starting March 1, 2026, due to rising costs [6][20] Media and Entertainment Sector - The media and entertainment sector faced a collective decline, with companies like Huanrui Century and Hengdian Film experiencing significant drops [1] Summary - Overall, the market continued to show a mixed trend, with the ChiNext index gaining over 1%. Technology growth stocks, particularly in electric grid equipment, liquid cooling, gas turbines, and computing power rental, led the gains, while the media and consumer sectors faced adjustments [9]

Group 1 - The core viewpoint of the article highlights that Xianglu Tungsten Industry has experienced significant stock performance, achieving three consecutive trading limits within five days, indicating strong market interest and activity [1] - The stock reached a trading limit at 10:48 today, with a transaction volume of 2.166 billion yuan and a turnover rate of 21.39%, reflecting high investor engagement [1] - Recent increases in tungsten prices and notable price hikes in related products have contributed to the company's stock performance, alongside the gradual release of photovoltaic tungsten wire production capacity and technological breakthroughs in high-end hard alloy sectors [1] Group 2 - The article emphasizes that multiple factors, including rising tungsten prices and enhanced production capabilities, are driving the company's stock activity [1] - The company is positioned for growth in the high-end hard alloy market due to technological advancements, which opens up new opportunities for expansion [1]

Core Viewpoint - The tungsten sector is experiencing a strong upward trend, with several companies in the industry seeing significant stock price increases, particularly Zhangyuan Tungsten, which has reached its daily limit up [1] Group 1: Company Performance - Zhangyuan Tungsten has hit the daily limit up, indicating strong investor interest and confidence in the company's performance [1] - Other companies in the tungsten sector, including Xianglu Tungsten, Zhongtung High-tech, Western Materials, Xiamen Tungsten, Antai Technology, and Luoyang Molybdenum, have also seen their stock prices rise in response to the overall market trend [1]

Group 1 - The small metal sector has seen a significant rise, with Zhangyuan Tungsten reaching the daily limit increase [1] - Xianglu Tungsten has increased by over 8%, indicating strong market performance [1] - Other companies such as Zhongtung High-tech, Dongfang Tantalum, and Baotai Co. have also experienced gains, reflecting a positive trend in the industry [1]

Market Overview - The stock market experienced mixed performance with the ChiNext Index and the Sci-Tech Innovation 50 Index both declining over 1% [1] - The trading volume in the Shanghai and Shenzhen markets fell below 2 trillion yuan, decreasing by 121.3 billion yuan compared to the previous trading day [1] - Over 3,200 stocks in the market saw declines, while sectors such as chemicals, small metals, computing power leasing, and fiberglass led the gains [1] Company Highlights - Baichuan Co., Ltd. (002455) achieved 11 consecutive trading days of gains [1] - Dazhi Technology (600589), Decai Co., Ltd. (605287), and other companies have also seen significant stock performance, with some achieving multiple consecutive gains [1] - The recent surge in tungsten prices, with black tungsten concentrate and ammonium paratungstate both rising over 24% in two weeks, has led to a collective explosion in the small metals sector [1] - Companies like Xianglu Tungsten Industry (002842), Zhangyuan Tungsten (002378), and China Tungsten High-Tech (000657) reported trading limits and historical highs [1] Specific Company Announcements - Decai Co., Ltd. (605287) announced the establishment of Fujian Qixiang Infinite Network Co., Ltd., with a registered capital of 10 million yuan, where the company holds a 51% stake [2] - The newly established company is in its early development stage and has not yet impacted Decai's financial performance [2] - Dazhi Technology (600589) clarified that its main business remains unchanged and that its Zhangbei data center project does not involve computing power leasing [3]

Group 1 - The core point of the article is that Xianglu Tungsten Industry reported a total of 80,905 shareholders as of January 30, 2026 [2]

Core Viewpoint - The article discusses recent developments in various sectors, highlighting significant technological advancements in space exploration, financial incentives in the tech industry, and market trends in materials and inflation data. Group 1: Space Exploration - The successful sea landing test of the Long March 10A rocket marks a significant breakthrough in technology, crucial for the recovery of low-orbit satellites and future landing operations [1] - The successful maximum dynamic pressure escape flight test of the Dream Chaser manned spacecraft indicates a major milestone in China's lunar exploration program [2] Group 2: Financial Incentives and Market Trends - Ant Group's promotional campaign offering new users a 16.8 yuan red envelope reflects a competitive landscape in the tech sector, with various platforms engaging users through incentives [4] - The glass fiber sector saw a notable increase in stock prices, driven by supply reductions from major producers due to rising demand [4] Group 3: Economic Indicators - January's CPI growth was 0.2% year-on-year, below expectations, while the core CPI reached its highest level in six months at 0.3% [9][15] - PPI data showed a slight improvement at -1.4%, with certain sectors like non-ferrous metals and AI-related industries experiencing price increases [15] Group 4: Stock Market Performance - On February 11, the A-share market showed mixed results, with the Shanghai Composite Index up by 0.09% and the Shenzhen Component down by 0.35% [17] - The glass fiber concept stocks surged, with several companies hitting the daily limit up, indicating strong market interest [17] Group 5: Industry Dynamics - The electric power sector is undergoing significant reforms, aiming to establish a unified national electricity market by 2030, which will enhance market participation and efficiency [20] - The AI sector is being prioritized for commercial applications, with government initiatives to foster growth and innovation in various industries [23]