Xiamen Tungsten Co Ltd

Xiamen Tungsten announced that the company has completed the issuance of its first tranche of technology innovation bonds for 2026, with an actual total issuance of 500 million yuan. The bond, abbreviated as 26 Xiamen Tungsten MTN001 (Technology Innovation Bond), has a term of three years, with an interest accrual date of September 18, 2026, and a redemption date of September 18, 2029. The coupon rate is 1.65%, and the issue price is 100 yuan per 100 yuan of face value. Industrial Bank served as the lead underwriter for this bond, with GF Securities as the joint lead underwriter. The raised funds have recently been received.

Xiamen Tungsten released its 2026 interim report, with net profit attributable to the parent company of 2.201 billion yuan, up 127.04% from the same period last year. Total operating revenue was 35.014 billion yuan, up 81.70% year on year, marking a second consecutive year of growth. Net cash flow from operating activities was negative 2.463 billion yuan, down 398.95% from the same period last year. The company's latest asset-liability ratio was 59.17%, gross margin was 21.83%, return on equity was 11.77%, and diluted earnings per share was 1.39 yuan.

Xiamen Tungsten announced that the company plans to spend 26.5174 million yuan to acquire a 1.3483% stake in Jiangxi Jutong Industrial Co., Ltd. held by Jiangxi Zhuoxin Mining Co., Ltd., in order to secure upstream tungsten raw material supply. After the transaction, the company will directly hold a 1.3483% stake in Jiangxi Jutong. Based on the principle of prudence, this is recognized as a related-party transaction and does not constitute a major asset restructuring.

On the evening of July 20, multiple listed companies on the Shanghai and Shenzhen stock exchanges released important announcements. Xiamen Tungsten expects its net profit attributable to shareholders of the listed company in the first half of 2026 to be approximately 2.216 billion yuan, a year-on-year increase of about 128.62 percent. Redick announced that its actual controller, chairman and general manager Shen Renrong, received a decision on bail pending trial from the Hangzhou Public Security Bureau on July 20, 2026, due to suspected insider trading. The bail period starts from July 20, 2026. This matter only involves Shen Renrong personally and is unrelated to the company. Currently, the company's production and operations are normal. In addition, several companies disclosed their half-year results. Raytron Technology expects its net profit in the first half to increase by 242 to 270 percent year-on-year. Haozhi Electromechanical achieved a net profit of 232 million yuan, up 266.57 percent year-on-year. Haitong Development posted a net profit of 523 million yuan, a year-on-year increase of 502.60 percent. In terms of buybacks and shareholding increases, Huayou Cobalt plans to repurchase shares worth 600 million to 1 billion yuan. Sany Heavy Industry's chairman proposed a buyback of 400 million to 800 million yuan. China State Construction's controlling shareholder intends to increase its shareholding by 500 million to 1 billion yuan.