Tungsten metal raw material prices continue to rise, with photovoltaic tungsten wire production capacity gradually being released. Xianglu Tungsten's net profit in 2025 is expected to increase by 260.56% year-on-year.

On March 31, Xianglu Tungsten Industry (002842.SZ) announced that in 2025, the company achieved operating revenue of 2.409 billion yuan, up 37.71% year over year; net profit attributable to shareholders of the listed company was 144 million yuan, up 260.56% year over year; after deducting non-recurring gains and losses, net profit attributable to shareholders of the listed company was 135 million yuan, up 211.90% year over year; net cash flow from operating activities was 110 million yuan, up 175.23% year over year. Basic earnings per share were 0.46 yuan. The company plans to use 327 million shares as the basis and distribute a cash dividend of 1.38 yuan for every 10 shares to all shareholders (including tax), with no bonus shares and no capitalization of capital reserve funds to increase share capital.

During the reporting period, the prices of tungsten metal raw materials continued to rise throughout the year, and the tungsten market supply-demand situation improved compared with previous years. As a major domestic manufacturer of tungsten products and tungsten materials, the company enhanced its pricing power for tungsten products; the increase in raw material prices was transmitted to downstream products relatively smoothly. The gross margin and gross profit of the main products increased significantly. The number of sales orders for cemented carbide increased markedly year over year. At the same time, the capacity for photovoltaic-grade tungsten wire gradually came into production. In addition, the company strengthened cost control and improved its profitability, with both revenue and gross-margin contribution rising year over year, providing important support for the growth in performance.