Guangdong Xianglu Tungsten (SZ:002842) Zhi Tong Cai Jing·2026-02-12 14:51Core Viewpoint - Xianglu Tungsten Industry (002842.SZ) has experienced a significant stock price increase of 48.86% over five consecutive trading days, raising concerns about potential risks associated with its operations and market conditions [1] Group 1: Economic and Industry Risks - The company's performance may be impacted by macroeconomic fluctuations affecting its primary customers, which could lead to decreased demand for tungsten products and challenges in accounts receivable collection [1] - The tungsten industry is subject to strict government policies aimed at controlling resource extraction and promoting high-quality development, which may affect the company's operations if regulations tighten [1] Group 2: Supply Chain and Pricing Risks - The company relies on externally sourced tungsten concentrate for production, and while it adjusts product prices based on tungsten concentrate price changes, significant price fluctuations could impact gross margins and overall performance [2] - The company does not depend on a single supplier for tungsten concentrate, but short-term procurement contracts may pose risks if there is a sudden surge in demand or restrictions on mining quotas [2] Group 3: Export and Regulatory Risks - As a leading tungsten producer and consumer, the company is subject to strict export regulations, and any changes in qualification standards for direct export could adversely affect its export business and financial performance [3] - The company's export activities are also exposed to exchange rate fluctuations, which may impact its overall financial results [4]