January 22, 2024
Xiamen Tungsten Industry: Steady Performance in 2023, Net Profit Increased by 10.57% YoY Date: January 18, 2024
Xiamen Tungsten Industry: Steady Performance in 2023, Net Profit Increased by 10.57% YoY
Date: January 18, 2024
Source: Nonferrous Metals Network
Xiamen Tungsten Industry (600549) recently released its 2023 performance report. During the reporting period, the company's total operating revenue was 39.42 billion yuan, a decrease of 18.25% YoY. Net profit was 1.599 billion yuan, an increase of 10.57% YoY. Basic earnings per share were 1.13 yuan.
Xiamen Tungsten Industry stated that during the reporting period, the company focused on its three main businesses, operated steadily, and continuously improved its overall profitability. At the same time, the company actively withdrew from the real estate business and achieved certain results.
Although the company's total operating revenue declined, the growth in net profit indicates that the company has achieved significant results in cost control and efficiency improvement. In addition, the company's withdrawal from the real estate business is also part of its strategic transformation, allowing more resources and energy to be invested in the development of core businesses.
Xiamen Tungsten Industry's main businesses include the development, processing, and sales of tungsten, rare earth, molybdenum, cobalt, copper, and other nonferrous metals. As one of the largest tungsten product manufacturers and exporters in China, the company has a high level of visibility and influence in the nonferrous metals industry.
In the future, with the transformation and upgrading of China's economic structure and the increasing environmental protection requirements, the nonferrous metals industry will face greater challenges and opportunities. Xiamen Tungsten Industry will continue to leverage its advantages, strengthen technological innovation and product research and development, improve the competitiveness and added value of core products, in order to adapt to market changes and customer demands.
