OTIC(SZ:000962) Xin Lang Cai Jing·2025-08-27 11:32Core Viewpoint - Ningxia Dongfang Tantalum Industry Co., Ltd. continues to show steady growth in operating performance, driven by multiple sectors and strategic projects aimed at meeting market demand [2][3][4]. Group 1: Operating Performance - In the first half of 2025, the company reported operating revenue of 797 million yuan, a year-on-year increase of 34.45%, and a net profit attributable to shareholders of 145 million yuan, up 29.08% [2]. - As of June 30, 2025, total assets reached 3.361 billion yuan, reflecting a 9.8% year-on-year growth, with domestic sales revenue of 516 million yuan, increasing by 33.65% [2]. Group 2: Drivers of Performance Growth - The high-temperature alloy sector benefited from increased demand for gas turbines, with significant product growth due to capacity release from technical upgrades [3]. - The semiconductor sector experienced explosive growth driven by AI and computing chips, leading to increased demand for tantalum target materials, with the company achieving breakthroughs in technology and industry integration [3]. - The recovery in the consumer electronics market has boosted demand for tantalum capacitors, while the development of national large scientific research facilities has increased the need for superconducting niobium materials [3]. Group 3: Fundraising Projects - The company plans to implement several projects, including the construction of a digital factory for tantalum and niobium hydrometallurgy, upgrades to tantalum and niobium pyrometallurgy production lines, and the establishment of high-end tantalum and niobium product lines [4]. - The changes in the tantalum and niobium industry landscape and the rapid development in high-tech and national defense sectors have created new demands that the current production capabilities cannot meet, necessitating these new and upgraded projects [4]. Group 4: Raw Material Supply and Capital Increase Progress - The company has completed the equity acquisition of Brazil's Taboca and signed a procurement contract for iron-tantalum-niobium alloy, ensuring a stable supply chain for tantalum and niobium ore [5]. - The capital increase plan was approved by the board on June 22, 2025, and is pending further regulatory approvals [5]. Group 5: Cash Dividends and Shareholder Returns - The company implemented cash dividends in the third quarter and annual distributions for 2024, with a total cash dividend of 1.32 yuan per 10 shares (including tax), amounting to 66.66 million yuan [6]. - For the mid-2025 period, the company plans to distribute a cash dividend of 0.50 yuan per 10 shares (including tax), totaling 25.25 million yuan, aiming to enhance shareholder returns [6].