一行白鹭，一飞冲天 解码厦门钨业三大核心产业

Core Viewpoint - Xiamen Tungsten has transformed from an alumina manufacturer to a leading enterprise in tungsten, molybdenum, rare earth, and energy new materials over its 60-year history, focusing on three core businesses [1]. Group 1: Tungsten and Molybdenum - The company aims to strengthen its competitive products and catch up with the international first tier in the tungsten industry [2]. - Xiamen Tungsten has established a complete industrial chain from tungsten mining to deep processing, controlling approximately 15% of the national tungsten production with an annual output of about 8,000 metal tons [3][4]. - The company has achieved international advanced levels in hard alloy production, with over 30% of the national export volume in hard alloys [4]. - The company is focusing on enhancing its product variety and coating technology to close the gap with international leaders [5]. - The current tungsten resource guarantee rate is 20%, with a goal to increase it to 70% in the future [6]. Group 2: Rare Earth - The rare earth business is expected to be a major highlight for the company in 2024, with a 46.36% year-on-year increase in revenue and a 65.10% increase in profit in the first quarter of 2025 [7]. - The company has established a collaborative system covering the entire rare earth industry chain, with a focus on deep processing [7]. - Rare earth permanent magnet motors are projected to save 20% to 30% more energy compared to traditional asynchronous motors, representing a future development direction [8]. - The company has invested in building a rare earth permanent magnet motor industrial cluster in Xiamen, with industrial control motors as a key product [9]. Group 3: Energy New Materials - Xiamen Tungsten's energy new materials segment has made significant advancements in lithium battery materials, achieving a 33.52% year-on-year increase in cobalt acid lithium sales in 2024 [11][12]. - The company is actively developing solid-state battery materials, with a new layered structure that outperforms traditional materials in energy density and performance [13][14]. - The company plans to accelerate the production of new materials, including ultra-high nickel ternary materials and solid-state battery key materials, to maintain its competitive edge [12][14].