章源钨业(002378) - 002378章源钨业投资者关系管理信息20251203

Group 1: Company Overview - The company primarily engages in the development and utilization of tungsten mining resources, producing ammonium paratungstate (APT), tungsten oxide, tungsten powder, tungsten carbide powder, thermal spray powder, and hard alloy products, establishing a comprehensive tungsten industry chain [1] - The upstream business focuses on tungsten mining resource exploration and selection, with tungsten concentrate as the main product, and by-products including tin and copper concentrates sold externally [1] - The midstream production includes various specifications of powder products, capable of producing ultra-fine, fine, medium, coarse, and ultra-coarse powders to meet diverse customer needs [2] Group 2: Resource Integration and Procurement - The company completed the verification report for tungsten resource reserves in the Taoxikeng mining area and submitted the development plan for review by the Ministry of Natural Resources in the first half of 2025 [3] - The company self-produces all tungsten concentrates for its own use and procures additional tungsten concentrates and APT from qualified suppliers, ensuring stable raw material supply through rigorous supplier evaluation [4] Group 3: Business Operations and Market Position - Ganzhou Aoketai specializes in cutting tools for difficult-to-machine materials, producing various types of cutting tools for industries such as automotive, aerospace, and energy, with steady sales growth expected in 2025 [5][6] - The company aims to enhance its production capacity for competitive, high-value-added products based on market demand [6] Group 4: Future Trends and Strategic Direction - Tungsten is a strategic mineral resource in China, with supply constraints and increasing downstream demand expected to stabilize tungsten concentrate prices [6] - The company focuses on efficient utilization and development of tungsten resources, emphasizing high-performance, high-precision, and high-value-added hard alloys [6] - Plans include strengthening upstream resource exploration, optimizing midstream production processes, and advancing downstream high-end brand strategies in sectors like aerospace and new energy [6]