Shanghai Nonferrous Metals News
27th SMM: China Tungsten Hitech Materials published its 2019 annual report, stating that during the reporting period, the company realized an operating revenue of RMB8.085 bln, down 1.12% y-o-y. Net profit attributable to shareholders of listed companies was RMB123 mln, down 9.31% y-o-y.
The decline can be attributed to an overall decline in both domestic and global industries, led by a depressed macro-economic environment and by tungsten and APT prices slumping by more than 20% during the reporting period.
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