XWXN(SH:688778) 智通财经网·2026-01-27 09:05Core Viewpoint - The company, Xiamen Tungsten New Energy (688778.SH), reported significant growth in its 2025 annual performance, driven by its leadership in the lithium cobalt industry and favorable market conditions [1] Financial Performance - The company achieved an operating revenue of approximately 20.034 billion yuan, representing a year-on-year increase of 47.84% [1] - The total profit reached around 858 million yuan, marking a year-on-year growth of 55.77% [1] - The net profit attributable to the parent company was approximately 755 million yuan, reflecting a year-on-year increase of 41.83% [1] - The net profit attributable to the parent company, excluding non-recurring gains and losses, was about 705 million yuan, with a year-on-year growth of 57.85% [1] Market Position and Product Performance - As a leading player in the lithium cobalt sector, the company capitalized on national subsidy policies for battery replacements and the trend of AI integration in 3C consumer devices, which enhanced its market share in lithium cobalt [1] - The company sold 65,300 tons of lithium cobalt, a year-on-year increase of 41.31% [1] - In the power sector, the company reinforced its technical strength in high-voltage and high-power ternary materials, while leveraging the differentiated advantages of hydrothermal lithium iron phosphate to expand its market [1] - The sales volume of power battery cathode materials, including ternary materials, lithium iron phosphate, and others, reached 77,400 tons, showing a year-on-year growth of 47.83% [1]