每经AI快讯，12月20日，章源钨业（002378）公布2025年12月下半月长单采购报价：55%黑钨精矿 44.80万元/标吨，55%白钨精矿44.70万元/标吨，仲钨酸铵(国标零级)65.00万元/吨。注：以上单价含13% 增值税。 ...

转自：证券时报 人民财讯12月20日电，章源钨业公布2025年12月下半月长单采购报价：55%黑钨精矿：44.80万元/标 吨，较12月上半月上调9.8万元/标吨；55%白钨精矿：44.70万元/标吨，较12月上半月上调9.8万元/标 吨；仲钨酸铵(国标零级)：65.00万元/吨，较12月上半月上调14万元/标吨。注：以上单价含13%增值 税。 ...

记者丨董鹏 编辑丨巫燕玲 不涨停、不停涨，被称为"工业牙齿"的钨产品，12月以来再次加速上涨。 而以上基本面的强势表现，也映射到了二级市场走势中，近期在多数行业板块回调的背景下，以中钨高新为代表的钨行业个股逆市上涨。 中钨在线数据显示，截至12月18日，钨精矿、仲钨酸铵、钨粉价格继续上调，其中钨粉（≥99.7%）报价已经达到101万元/吨，较年初涨219.6%；Wind采集 的国产钨粉（≥99.7%）价格，则升至104.5万元/吨，并且上涨速率较11月提升非常明显。 综合多家市场机构反馈，上述产品价格的进一步拉涨，与此前主流企业上调12月上半月长单价格，以及临近年末矿山端检修增多带来的供应收紧有关。 "目前，钨原料供应偏紧因素仍主导市场，消费端弥漫谨慎情绪，导致产业链整体流动性受限，参与者观望江西和广东两地大型钨企的长单价格。"中钨在线 指出。 | 27.36 额 8.99亿 股本 22.79亿 市盈 77 39.5 房i 짧 | | --- | | 时间范围 2025/01/02 ~ 2025/12/19 235周期 周期:日 | | 区间涨幅 回撤 -26.87% 均价 17.77 成交量 1.5亿 | ...

不涨停、不停涨，被称为"工业牙齿"的钨产品，12月以来再次加速上涨。 中钨在线数据显示，截至12月18日，钨精矿、仲钨酸铵、钨粉价格继续上调，其中钨粉（≥99.7%）报价已经达到101万元/吨，较年初涨219.6%；采集的国 产钨粉（≥99.7%）价格，则升至104.5万元/吨，并且上涨速率较11月提升非常明显。 综合多家市场机构反馈，上述产品价格的进一步拉涨，与此前主流企业上调12月上半月长单价格，以及临近年末矿山端检修增多带来的供应收紧有关。 "目前，钨原料供应偏紧因素仍主导市场，消费端弥漫谨慎情绪，导致产业链整体流动性受限，参与者观望江西和广东两地大型钨企的长单价格。"中钨在 线指出。 而以上基本面的强势表现，也映射到了二级市场走势中，近期在多数行业板块回调的背景下，以中钨高新（000657）为代表的钨行业个股逆市上涨。 截至12月17日，在申万划分的31个一级行业中，只有有色金属、国防军工等6个行业板块本月取得正收益，同期钨板块的涨幅又是位居所有细分行业首位。 钨粉暴涨超200% 12月18日上午，章源钨业（002378）官方公众号发布调价通知函，"因钨原材料价格持续上涨，致使公司生产成本大幅增长…… ...

Group 1 - The core strategy of the company during the "14th Five-Year Plan" period is to focus on integrated development across the entire industry chain, achieving breakthroughs in business expansion, technological innovation, capital operations, and shareholder returns [2] - From 2021 to 2024, the company's net profit attributable to shareholders is projected to grow from 528 million yuan to 939 million yuan, with operating revenue expected to exceed 14.7 billion yuan in 2024, representing an increase of over 48% compared to 2020 [2] - The total assets of the company are expected to reach 17.416 billion yuan by the end of 2024, reflecting a 77% increase since the beginning of 2021, indicating enhanced profitability and risk resistance [2] Group 2 - The company emphasizes technological innovation as a core driver, establishing a comprehensive innovation system, with tungsten concentrate production of 42,000 tons and APT production of 85,000 tons in the first half of the year, maintaining its position as the global leader [2] - In 2024, the company plans to implement a dividend scheme of 1.6 yuan per 10 shares, totaling 365 million yuan in shareholder returns [2] - The company completed the asset injection of Shizhu Garden in 2024 and plans to acquire 99.97% of Yuanjing Tungsten Industry in 2025, significantly enhancing its tungsten resource self-sufficiency [3]

Core Insights - The company, Zhongtung High-tech, has adopted a full industry chain integration development strategy during the 14th Five-Year Plan period, achieving breakthroughs in business expansion, technological innovation, capital operations, and shareholder returns [1][2] - From 2021 to 2024, the company's net profit attributable to shareholders is projected to grow from 528 million yuan to 939 million yuan, with operating revenue expected to exceed 14.7 billion yuan in 2024, representing an increase of over 48% compared to 2020 [1] - The total assets of the company are expected to reach 17.416 billion yuan by the end of 2024, marking a 77% increase since the beginning of 2021 [1] Financial Performance - The company plans to implement a dividend scheme of 1.6 yuan per 10 shares in 2024, totaling 365 million yuan in payouts [1] - The production of tungsten concentrate in the first half of this year was 4,200 tons, with APT production at 8,500 tons and hard alloy production exceeding 7,500 tons, maintaining the company's position as the global leader [1] Technological Innovation - Zhongtung High-tech has established a comprehensive innovation system, including the only national key laboratory for hard alloys in the tungsten industry and 21 provincial and ministerial-level technology platforms [1] - The company holds 8 national high-tech enterprises, 4 national manufacturing single champion enterprises, 2 national specialized and innovative "little giant" enterprises, and 2 national intellectual property demonstration enterprises [1] Strategic Development - In 2024, the company completed the asset injection of Shizhu Garden and plans to acquire 99.97% of the equity of Yuanjing Tungsten Industry in 2025, significantly enhancing its tungsten resource self-sufficiency [2] - These asset integrations not only fulfill commitments to avoid competition in the capital market but also improve the "resource-smelting-processing" full industry chain layout, enhancing asset quality and profitability [2]

Market Analysis - The market is experiencing a significant downturn, with over 90% of trading days showing more than 4,000 stocks declining, indicating a stampede phenomenon [2] - There is a lack of clear support from major funds, and small-cap stocks are showing notably weaker performance [2] - The upcoming annual report disclosures are raising caution, particularly for ST stocks and underperforming stocks [2] Industry Insights - The introduction of national policies is positively impacting the non-ferrous metals industry, with the "Non-Ferrous Metals Industry Stabilization and Growth Work Plan (2025-2026)" aimed at promoting high-quality development and enhancing supply chain resilience [2] - The second half of the year remains in a loose monetary cycle, with some metal fundamentals trending positively, suggesting a potential rise in non-ferrous metal prices [2] - The focus for next year will shift from interest rate cuts to growth in industrial demand, providing a fundamental support for the sector [2] Stock Performance - The three major indices opened mixed, with over 3,000 stocks declining at the start of trading [3] - The tungsten market is experiencing a rapid price increase, with tungsten concentrate prices exceeding 400,000 yuan per ton and APT prices surpassing 600,000 yuan per ton [3] AI and Nuclear Fusion Sectors - The AI healthcare sector is seeing significant activity, with companies like Meian Health reaching a trading limit, indicating strong market interest [4] - The nuclear fusion sector is also gaining traction, with multiple projects announced, totaling over 2.4 billion yuan in contracts [4] Market Predictions - The Shanghai Composite Index appears to have halted its decline, but the trading volume remains low, indicating a weak market sentiment [6] - The ChiNext Index is stabilizing near the 20-day moving average, with a critical support level at 3,080 points [6] - Without protective measures or significant recovery in external markets, the likelihood of further index declines is high [6] Investment Opportunities - Foreign institutions are optimistic about China's assets for 2026, citing profit growth and innovation as key drivers for a rebound [13] - Long-term foreign capital has shown a positive inflow into the Chinese stock market, contrasting with previous outflows [13] - The non-ferrous metals sector is expected to benefit from structural opportunities, particularly in copper and aluminum, driven by industrial demand [13] Economic Context - The Federal Reserve's recent interest rate cut and plans to purchase short-term government bonds have led to a decline in the dollar index, positively affecting non-ferrous metal prices [14] - The ongoing bull market for base metals is supported by supply constraints and rising prices for metals like silver and copper [14] Strategic Focus - The non-ferrous metals industry is positioned as a key area for investment, particularly in the context of technological advancements and the "anti-involution" policy [15] - The sector is characterized by stable demand across various industries, making it less susceptible to economic cycles [15] - Investing in undervalued non-ferrous metal companies can provide significant upside potential, especially during inflationary periods [15]

中钨高新公告称，公司此前审议通过以8.21亿元现金收购五矿钨业所持远景钨业99.9733%股权。2025年 12月11日，远景钨业99.9733%股权过户至公司名下的变更登记手续办理完毕，交易完成资产交割过 户，远景钨业成为其控股子公司并纳入合并报表范围。公司需在交割手续后30个工作日内支付现金对 价，交易相关各方还需继续履行相关协议、承诺事项。 ...

证券日报网讯12月4日晚间，章源钨业（002378）发布公告称，控股股东崇义章源投资控股有限公司及 其一致行动人黄世春于2025年11月7日、12月3日通过大宗交易合计减持13，852，900股，占公司总股本 1.1530%，持股比例由58.7742%降至57.6212%，触及1%整数倍。 ...

Group 1 - The price of tungsten has increased by over 140% this year, with a significant profit surge of 915% for leading companies in Q3, validating the transmission logic and indicating that certain stocks have greater elasticity [1] - The sodium battery sector is set to kick off its large-scale production in 2025, targeting a storage capacity of 580 GWh, with costs reduced to 0.25 yuan/Wh, highlighting a strong recommendation from analysts to not miss out on sodium batteries after missing lithium batteries [1]