Xiamen Tungsten Co (600549) Q2 2026 earnings summary

Executive summary

• Achieved consolidated revenue of RMB 35.01 billion in H1 2026, up 81.70% year-over-year; net profit attributable to shareholders reached RMB 2.20 billion, up 127.04% year-over-year.

• All core business segments—tungsten & molybdenum, rare earths, and new energy materials—delivered strong revenue and profit growth.

• Proposed interim cash dividend of RMB 4.2 per 10 shares, totaling RMB 666.79 million, representing 30.30% of H1 net profit.

Financial highlights

• Operating income: RMB 35.01 billion, up 81.70% year-over-year.

• Net profit attributable to shareholders: RMB 2.20 billion, up 127.04% year-over-year.

• Operating cash flow: -RMB 2.46 billion, down from RMB 824 million in H1 2025, mainly due to increased working capital needs.

• Basic and diluted EPS: RMB 1.3862, up 127.06% year-over-year.

• Gross margin and profitability improved across major product lines.

Outlook and guidance

• Focus on expanding upstream resource control and downstream high-value product lines.

• Continue global capacity expansion, digital transformation, and industrial chain integration.

• Maintain emphasis on R&D, green manufacturing, and supply chain resilience.