钨价狂飙“引爆”中钨高新，“国家队”国新投资成大赢家

Core Viewpoint - The recent surge in the stock price of China Tungsten High-tech Co., Ltd. (中钨高新) is attributed to the rising prices in the tungsten industry and expectations of asset injections, leading to significant financial performance improvements [1][3][4]. Company Performance - China Tungsten High-tech's stock price increased by 51.72% over the last eight trading days, reaching 24.76 yuan, with a year-to-date increase of nearly 174% [2][3]. - The company reported a revenue of 12.755 billion yuan for the first three quarters, a year-on-year increase of 13.39%, and a net profit of 846 million yuan, up 18.26% year-on-year [3]. - The non-recurring net profit surged to 781 million yuan, reflecting a remarkable growth of 407.52% year-on-year [3]. Industry Trends - The price of black tungsten concentrate has risen by 101.4% since the beginning of the year, reaching 143,000 yuan per ton, while APT and tungsten powder prices have also increased by over 100% [1][3]. - The price of APT reached a historical high, contributing to the overall bullish trend in the tungsten industry [3]. Strategic Developments - China Tungsten High-tech plans to acquire 100% equity of Shizhu Garden from Minmetals Tungsten Industry and Woxi Mining for a total consideration of 5.195 billion yuan, expected to complete by the end of 2024 [3][4]. - The company also announced a cash acquisition of 99.9733% equity in Yuanjing Tungsten Industry for 821 million yuan, which is expected to enhance its upstream raw material supply [4][5]. Shareholder Activity - Guoxin Investment has significantly increased its stake in China Tungsten High-tech, acquiring nearly 70 million shares since the second quarter of 2023, with a current holding value exceeding 1.943 billion yuan [6][10][11]. - Guoxin Investment is recognized as a long-term investor, having entered the top ten shareholders of multiple A-share listed companies, including China Tungsten High-tech [12][14].