Chongyi Zhangyuan Tungsten Co.Ltd(002378) at noon on January 25, the company released the performance forecast for 2021. The company expects to achieve a profit of 150 million yuan to 190 million yuan in 2021, an increase of 303.49% – 411.08% over the same period of the previous year, and the net profit after deduction increased by 651.41% – 835.43% year-on-year.
The company said that during the reporting period, the tungsten market continued to improve, the sales volume, sales price and gross profit margin of main products increased year-on-year, and the net profit attributable to shareholders of listed companies increased significantly year-on-year; Ganzhou aoketai Tool Technology Co., Ltd., a wholly-owned subsidiary of the company, has improved production efficiency, refined management, achieved scale growth in revenue and significantly improved performance.
Chongyi Zhangyuan Tungsten Co.Ltd(002378) Ganzhou aoketai, a wholly-owned subsidiary, is mainly engaged in the R & D, production and sales of cemented carbide coated blades, bars and tools. Ganzhou aoketai has R & D, production and testing equipment and R & D team. It is committed to providing customers with customized metal processing services. It is positioned to “be an expert in cutting difficult materials and create a world-class cutting tool brand”. In 2020, the operating income of aoketai was 277.8152 million yuan and the net profit was 89.1441 million yuan. With the increasing effectiveness of Chongyi Zhangyuan Tungsten Co.Ltd(002378) technology investment in aoketai, the operation of aoketai will improve significantly in 2021. According to the semi annual report, in the first half of 2021, Ganzhou aoketai achieved an operating revenue of 180024200 yuan, an increase of 56.12% over the same period of last year, of which the sales revenue of coated blades was 86.06 million yuan, an increase of 101.55% over the same period of last year, and the sales revenue of bars was 83.47 million yuan, an increase of 103.64% over the same period of last year; The net profit attributable to the parent company was -16.2026 million yuan, a decrease of 29.1557 million yuan compared with the same period of the previous year.
