Xiamen Tungsten Co (600549) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached ¥19.18 billion, up 11.75% year-over-year.

• Net profit attributable to shareholders was ¥972 million, down 4.41% year-over-year, mainly due to one-off gains in the prior year and a resource tax adjustment in 2025.

• Excluding non-recurring items, net profit attributable to shareholders grew 7.75% year-over-year.

• Major business segments include tungsten-molybdenum, rare earths, and energy new materials, all showing strong market positions and technological leadership.

Financial highlights

• Operating income: ¥19.18 billion, up 11.75% year-over-year.

• Net profit attributable to shareholders: ¥972 million, down 4.41% year-over-year.

• Net profit after non-recurring items: ¥923 million, up 7.53% year-over-year.

• Basic EPS: ¥0.6124, down 14.78% year-over-year.

• Operating cash flow: ¥804 million, down 56.16% year-over-year.

• Proposed interim cash dividend: ¥1.84 per 10 shares, totaling ¥292 million, representing 30.05% of H1 net profit.

• Operating profit was ¥1.707 billion, down 9.71% year-over-year.

• Total profit was ¥1.690 billion, down 10.31% year-over-year.

• Basic EPS was ¥0.6121, a decrease of 14.82% year-over-year.

• Total assets at period end were ¥47.11 billion, up 3.63% from the start of the year.

• Shareholders' equity attributable to listed company shareholders was ¥16.27 billion, up 2.32%.

Outlook and guidance

• Focus on expanding domestic and international production capacity, especially in tungsten, rare earths, and energy materials.

• Continued investment in R&D, digital transformation, and supply chain optimization.

• Ongoing divestment of real estate business to concentrate on core industrial segments.

• No major uncertainties affecting the accuracy of the results were identified.

• Final audited results will be disclosed in the formal H1 2025 report.