Zheng Quan Shi Bao Wang·2025-12-05 05:26Market Overview - Major stock indices in the A-share market experienced a collective rise, with the Shanghai Composite Index up by 0.08%, the Shenzhen Component Index up by 0.39%, and the ChiNext Index up by 0.47% [1] Sector Performance - The optical module sector continued to show strength, with the concept index rising by 4.41%. Other sectors such as superconductors, fiberglass, and charging piles also saw significant gains [2] New Stock Performance - The stock N-Mole-U debuted on the STAR Market, opening with a surge of 468% and reaching a peak increase of 502.03%, trading at 688 CNY per share. By midday, it closed with a gain of 416.79% at 590.59 CNY per share. Investors holding one lot (500 shares) could potentially earn over 286,860 CNY [3] Market Reaction to New Listings - Following the listing of N-Mole-U, related A-share stocks experienced a collective pullback. For instance, Heertai saw a drop of 9.32%, while Yingqu Technology and others also faced declines of over 3% [4] Tungsten Market Dynamics - Tungsten product prices have surged significantly, with black tungsten concentrate prices reaching 353,000 CNY per ton, reflecting a 146.85% increase since the beginning of the year. APT and tungsten powder prices also saw substantial increases of 145.5% and 161.08%, respectively [6][9] Supply and Demand Factors - The price increase in tungsten products is attributed to supply constraints and rising demand. China, being a major producer and consumer, is projected to produce approximately 67,000 metric tons of tungsten in 2024, accounting for 82.7% of global output. The government has also implemented mining quotas, reducing the total output for 2025 by 6.45% compared to 2024 [9] Emerging Applications and Industry Outlook - Companies in the tungsten sector are actively exploring new applications in emerging industries. For instance, Zhongtung High-tech has developed high-quality nano-grade tungsten carbide powder for PCB micro-drills, while Xiamen Tungsten is expanding its tungsten wire applications in the photovoltaic sector [11][12] Company Performance - Tungsten-related stocks have shown positive earnings trends, with companies like Xianglu Tungsten and Guangsheng Nonferrous Metals turning profitable. Other companies reported significant year-on-year profit growth, with Luoyang Molybdenum and Hunan Gold seeing increases of 72.61% and 54.28%, respectively [12]