China Tungsten And Hightech Materials (000657) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue rose 85.57% YoY to ¥23.699bn; net profit attributable to shareholders increased 227.93% to ¥2.979bn, supported by higher tungsten prices and PCB micro-drill growth.

• Capacity expansion and rising raw-material prices drove higher investment, inventories and borrowing; 9M operating cash flow was negative ¥561.7m.

Financial highlights

• 9M revenue was ¥23.699bn vs ¥12.770bn YoY; Q3 revenue increased 48.88% YoY.

• 9M net profit attributable to shareholders was ¥2.979bn vs ¥908.4m, up 227.93%; Q3 net profit was ¥902.6m, up 148.81%.

• 9M adjusted net profit was ¥2.966bn, up 279.94% YoY; Q3 adjusted net profit was ¥913.7m, up 207.83%.

• 9M operating profit was ¥3.883bn vs ¥1.166bn; net profit was ¥3.178bn vs ¥994.3m.

• 9M basic and diluted EPS were ¥1.3073, up 218.54% YoY; weighted-average ROE was 26.37%, up 16.75 percentage points.

Outlook and guidance

• A 10,000-ton technical-upgrade project continued, alongside investment in in-house micro-drill equipment, as capacity expansion progressed.

• Semiconductor and AI industry opportunities, together with PCB micro-drill volume and price increases, supported growth initiatives.