After the completion of the "Ultra High Performance Tungsten Powder Intelligent Manufacturing Project" by Zhangyuan Tungsten Industry, a production capacity of 5000 tons of ultrafine tungsten carbide powder will be added

On July 4th, Zhangyuan Tungsten Industry (002378. SZ) stated during an institutional survey that the company owns six mining rights mines, including Taoxikeng Tungsten Mine, and eight exploration rights mining areas, including Dongfeng. In addition, the company invested 230.2838 million yuan to construct the "Ultra High Performance Tungsten Powder Intelligent Manufacturing Project". After the project is completed, the company will increase its production capacity of 5000 tons of ultrafine tungsten carbide powder. According to reports, in the first quarter of 2022, the subsidiary Ganzhou Aoketai achieved a revenue of 95.5021 million yuan, a year-on-year increase of 10.21%. The sales of coated blades and bar products have both increased compared to the same period last year.

Investing in the construction of the "Ultra High Performance Tungsten Powder Intelligent Manufacturing Project"

It is reported that Zhangyuan Tungsten Industry has 6 mining rights mines, including Taoxikeng Tungsten Mine, Xinanzi Tungsten Tin Mine, Dayu Shilei Tungsten Mine, Tianjingwo Tungsten Mine, Changliukeng Copper Mine, and Huangzhulong Tungsten Mine, as well as 8 exploration rights mines, including Dongfeng, Xikengkou, Bikeng, Nikeng, Longtanmian, Shizuinao, Dapaishang, and Daqiao. According to the latest reserve review and filing of the company's mining rights with the Jiangxi Provincial Department of Natural Resources, the company has 90100 tons of tungsten resource reserves, 14800 tons of tin resource reserves, and 11200 tons of copper resource reserves under its jurisdiction.

In addition, the company invested 230.2838 million yuan to construct the "Ultra High Performance Tungsten Powder Intelligent Manufacturing Project". After the project is completed, the company will increase its production capacity of 5000 tons of ultrafine tungsten carbide powder. Currently, infrastructure projects are being implemented and the project is progressing as planned.

Ganzhou Aoketai achieved a year-on-year increase of 10.21% in revenue in Q1

The wholly-owned subsidiary of the company, Ganzhou Aoketai Tool Technology Co., Ltd. (hereinafter referred to as "Ganzhou Aoketai"), is mainly engaged in the research and development, production, and sales of hard alloy coated blades, bars, and their tools. In recent years, the overall level of China's high-end CNC tool industry has been continuously improving, and the trend of domestic substitution for imports has accelerated. The domestic tool market has maintained a rapid growth trend, and the market prospects for high-end CNC tools are broad, further increasing market demand. In 2021, Ganzhou Aoketai continued to adhere to the "profit centered" strategy, adjusting sales strategies, optimizing product structure, increasing production capacity, strictly controlling costs and expenses, improving talent system construction, and further significantly increasing sales of coated blade and bar products, shifting from consecutive years of losses to profits.

In the first quarter of 2022, Ganzhou Aoketai achieved a revenue of 95.5021 million yuan, an increase of 10.21% compared to the same period last year. The sales of coated blades and bar products have both increased compared to the same period last year.

Looking forward to the future, Zhangyuan Tungsten Industry is committed to the utilization and development of tungsten resources, the research and development of high-performance, high-precision, and high value-added hard alloys, and the coordinated development of tungsten resource exploration, mining, smelting, deep processing, and related industries.

On the upstream end, the company will increase the geological exploration work of existing exploration rights mining areas, gradually promote the integration of resources between mining rights and exploration rights mining areas, strengthen the company's resource reserves, and consolidate the resource foundation.

At the midstream end, we will leverage the production advantages of tungsten raw materials and promote new green smelting processes for tungsten ore. By improving product technology and stabilizing product quality, we will focus on developing ultra-fine, ultra-coarse, and ultra-pure powder products, and producing characteristic powder products to meet different customer needs.