Core Points - The company has completed the sale of a total of 2,031,600 shares from its second and third employee stock ownership plans [1][6] - The second employee stock ownership plan involved the purchase of 1,489,300 shares at an average price of approximately 20.77 yuan per share, with a total transaction amount of 30.94 million yuan [2] - The third employee stock ownership plan involved the purchase of 542,300 shares at an average price of approximately 17.52 yuan per share, with a total transaction amount of 9.49 million yuan [4] Summary of Employee Stock Ownership Plans Second Employee Stock Ownership Plan - The plan was approved on July 14, 2022, with a total of 1,489,300 shares purchased, representing 0.105% of the total share capital at that time [2] - The original duration of the plan was 24 months, set to expire on July 13, 2024, but it was extended to 48 months, now expiring on July 13, 2026 [3][5] Third Employee Stock Ownership Plan - The plan was approved on August 17, 2023, with a total of 542,300 shares purchased, representing 0.0382% of the total share capital at that time [4] - The original duration of the plan was also 24 months, set to expire on August 16, 2025, but it was extended to 48 months, now expiring on August 16, 2027 [6] Sale and Future Arrangements - The total shares sold from both plans accounted for 0.12797% of the company's total share capital, and all assets held have been converted to cash [6] - The company will proceed with asset liquidation and distribution as per the regulations of the employee stock ownership plans [6]

Core Viewpoint - Xiamen Tungsten Co., Ltd. announced the establishment of a merger and acquisition investment partnership fund, aiming to enhance its investment capabilities and accelerate strategic development while aligning with shareholder interests [1] Group 1: Fund Establishment - The company’s wholly-owned subsidiary, Xiamen Xatung Investment Co., Ltd., plans to invest 195 million yuan as a limited partner [1] - Xiamen Jiatai, a company under Xiamen Tungsten, will contribute 1.75 million yuan as one of the general partners [1] - The fund, named Fuchuang Jiatai Yixin (Xiamen) Merger and Acquisition Investment Partnership, has a total scale of 500 million yuan [1] Group 2: Strategic Benefits - The establishment of the fund is expected to leverage the resources, investment management, and operational experience of partners [1] - This initiative is aligned with the company’s development strategy and is beneficial for all shareholders [1] - The main investment areas of the fund are synergistic with the company’s industry [1]

Core Viewpoint - Xiamen Tungsten Co., Ltd. reported strong financial performance for the first three quarters of 2025, indicating robust growth in revenue and profit metrics [1] Financial Performance - The company achieved a revenue of 32.001 billion yuan, representing a year-on-year increase of 21.36% [1] - The net profit attributable to shareholders reached 1.782 billion yuan, reflecting a year-on-year growth of 27.05% [1] - The net profit excluding non-recurring items was 1.715 billion yuan, showing a significant year-on-year increase of 39.63% [1] - Basic earnings per share stood at 1.1223 yuan [1]

Core Viewpoint - Xiamen Tungsten's Q3 2025 revenue reached 12.823 billion yuan, marking a year-on-year increase of 39.27%, while net profit attributable to shareholders was 810 million yuan, up 109.85% [1] Financial Performance - For the first three quarters of 2025, the company achieved a total revenue of 32.001 billion yuan, reflecting a year-on-year growth of 21.36% [1] - The net profit attributable to shareholders for the same period was 1.782 billion yuan, representing a year-on-year increase of 27.05% [1]

Group 1 - The company announced a cash dividend distribution of 0.184 yuan per share, totaling approximately 292.12 million yuan [1] - The total share capital for the dividend distribution is 1,587,585,826 shares [1] - The A-share equity registration date is set for September 25, 2025, with the ex-dividend date and cash dividend payment date on September 26, 2025 [1] Group 2 - The dividend will be distributed by China Securities Depository and Clearing Corporation Limited, Shanghai Branch, except for certain self-distributing recipients [1] - Different tax policies apply to various types of shareholders, and investors are encouraged to contact the company's secretariat for inquiries [1]

Core Points - The company plans to distribute cash dividends of 1.84 yuan per 10 shares to all shareholders, totaling approximately 292.12 million yuan, which represents 30.05% of the net profit attributable to shareholders for the first half of 2025 [1][2] - The company has approved the cancellation of the supervisory board and the revision of its articles of association, which will be submitted for shareholder approval [3][4] - The company has made several amendments to its articles of association, including the reduction of registered capital due to the repurchase of restricted shares and the adjustment of governance structures in accordance with new regulations [5][6][7] Financial Data - The total number of shares after the repurchase is 1,587,585,826, and the registered capital is adjusted to the same amount [5] - The company has a remaining undistributed profit of approximately 2.07 billion yuan to be carried forward to the next period [1] Governance Changes - The supervisory board will be replaced by the audit committee of the board of directors, which will assume the supervisory responsibilities [4][6] - The company will now allow shareholders with a minimum holding of 1% to propose agenda items, down from the previous 3% requirement [6][7]

Core Viewpoint - The independent directors of Xiamen Tungsten Co., Ltd. held a meeting to review and approve several key proposals related to associated transactions and the use of raised funds for the year 2025 [1][2]. Group 1: Associated Transactions - The meeting approved the proposal to add new associated parties and adjust the expected daily associated transactions for 2025, confirming that these adjustments are necessary for the company's daily operations and do not harm the interests of the company or its shareholders, especially minority shareholders [1]. - A framework agreement for daily associated transactions with the newly added associated parties was also approved, ensuring that pricing policies adhere to fairness and do not harm the interests of the company or non-associated shareholders [2]. Group 2: Fund Management - The meeting reviewed and approved the special report on the storage and actual use of raised funds for the first half of 2025, confirming that the report accurately reflects the situation and complies with relevant laws and regulations, without altering the intended use of the funds [2].

Core Viewpoint - Xiamen Tungsten Industry announced a revenue of 19.178 billion yuan for the first half of 2025, representing a year-on-year increase of 11.75%. However, the net profit decreased by 4.37% to 972 million yuan [1] Financial Performance - The company's revenue for the first half of 2025 reached 19.178 billion yuan, showing a growth of 11.75% compared to the previous year [1] - The net profit for the same period was 972 million yuan, which is a decline of 4.37% year-on-year [1] Dividend Distribution - The company plans to distribute a cash dividend of 1.84 yuan (including tax) for every 10 shares, totaling 292 million yuan (including tax) [1] - This dividend distribution represents 30.05% of the net profit attributable to shareholders in the consolidated financial statements for the first half of 2025 [1]

Core Viewpoint - The company has experienced rapid growth over the past five years primarily driven by energy new materials, and it anticipates that tungsten and rare earth deep processing and applications will be the main growth drivers in the next five years [1][3]. Group 1: Business Strategy and Focus Areas - The company will focus on the application of magnetic materials in new scenarios such as rare earth permanent magnet motors, industrial robots, and humanoid robots, with related products currently under development [4]. - The company plans to transition from a traditional sales model of hard alloy cutting tools to providing comprehensive solutions and services, potentially through mergers and acquisitions to accelerate business growth [4]. - The company aims to enhance its resource assurance rate from the current 20% to 70% in the future [5]. Group 2: Technological Development and Market Position - In the energy new materials sector, the company will focus on solid-state battery technology and hydrogen energy technologies, having already developed lithium sulfide technology [5]. - The company recognizes the importance of recycling in all its industries, as they involve rare strategic metals [5]. - The company has strategically positioned itself to minimize impacts from current international trade challenges, with an export revenue of approximately 5.4 billion yuan, accounting for 16% of its main business income [5]. Group 3: International Expansion and Investment - The company has invested in an 800-ton hard alloy bar project in Thailand, aimed at the U.S. and ASEAN markets, with a total investment of about 190 million yuan and an average return on investment exceeding 20% [5]. - The company is currently advancing the construction of a second phase project in Thailand, having acquired 130 acres of land to expand hard alloy production and develop tungsten powder, tungsten carbide, CNC blades, and complete tool businesses [6].

Group 1 - The core viewpoint of the announcement is that Xiamen Tungsten Co., Ltd. reported a revenue of 8.376 billion yuan in the first quarter of 2025, reflecting a year-on-year growth of 1.29% [1] - The net profit for the same period was 391 million yuan, which represents a year-on-year decline of 8.46% [1]