Financial Performance - The company reported total operating revenue of RMB 2,406,042,644.61 for the first half of 2025, representing a year-on-year increase of 32.65% compared to RMB 1,813,833,245.24 in the same period last year [1][2] - Operating profit for the period was RMB 137,328,795.94, showing a slight increase of 2.19% from RMB 134,390,078.49 in the previous year [1][2] - The total profit amounted to RMB 135,565,034.02, reflecting a 2.28% increase from RMB 132,544,199.11 year-on-year [1][2] - The net profit attributable to shareholders of the listed company was RMB 106,843,890.80, which is a decrease of 4.36% from RMB 111,714,769.51 in the previous year [1][2] - Basic earnings per share increased to 0.10 from 0.09, marking an 11.11% rise [1][2] Market Conditions - The report period experienced tight supply in the tungsten raw material market, leading to continuous price increases [2] - The company focused on its core business and actively expanded its market presence, achieving sales volume growth due to stable product quality and rapid supply capabilities [2] Tax and Financial Adjustments - The company implemented a 5% tax reduction on value-added tax, which was accounted for in the current period, covering the period from January 2023 to March 2024 [2] - Excluding the impact of tax adjustments, the company's operating profit, total profit, and net profit attributable to shareholders would have increased by 15.96% [2]