厦门钨业：第三季度净利润同比增长109.85%

Core Insights - Xiamen Tungsten (600549) reported a significant increase in revenue and net profit for Q3 2025, with revenue reaching 12.823 billion yuan, a year-on-year growth of 39.27%, and net profit of 810 million yuan, up 109.85% [1] - For the first three quarters of 2025, the company achieved a total revenue of 32.001 billion yuan, reflecting a year-on-year increase of 21.36%, and a net profit of 1.782 billion yuan, which is a 27.05% increase compared to the previous year [1] - The surge in revenue and profit is attributed to the significant rise in prices of tungsten ore, rare earth ore, and cobalt raw materials, along with increased sales volume of most products [1] Financial Performance - Q3 2025 revenue: 12.823 billion yuan, up 39.27% year-on-year [1] - Q3 2025 net profit: 810 million yuan, up 109.85% year-on-year [1] - First three quarters 2025 revenue: 32.001 billion yuan, up 21.36% year-on-year [1] - First three quarters 2025 net profit: 1.782 billion yuan, up 27.05% year-on-year [1] - Basic earnings per share: 1.1223 yuan [1] Market Factors - The increase in revenue and profit is linked to the substantial rise in prices of key raw materials, including tungsten ore, rare earth ore, and cobalt [1] - The company experienced a year-on-year increase in sales volume for most of its products, contributing to the overall revenue growth [1]