Highlights

• Xiamen Tungsten Co., Ltd. reported record 2025 financial results with revenue of approximately ¥46.469 billion ($6.4 billion) and profit of ¥4.081 billion ($560 million), becoming the first publicly listed company in Xiamen to reach ¥1 trillion market capitalization.
• The Chinese state-owned enterprise, a major supplier of tungsten products, cemented carbides, battery materials, and rare earth materials, attributed its success to resilience amid global economic uncertainty and sustained demand across semiconductors, electric vehicles, and defense sectors.
• Chairman Huang Changgeng announced plans to accelerate international expansion and pursue mergers and acquisitions during China's 15th Five-Year Plan period (2026-2030), signaling strengthened positioning in strategic mineral supply chains globally.

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Chinese advanced materials producer Xiamen Tungsten Co., Ltd. (opens in a new tab) reported record financial results for 2025, underscoring the growing strength of China’s strategic materials sector. The update was delivered during the company’s annual awards ceremony and corporate event held on March 4 in Xiamen and broadcast online.

According to remarks from Chairman Huang Changgeng, the company expects 2025 revenue of approximately ¥46.469 billion (about $6.4 billion) and total profit of roughly ¥4.081 billion (about $560 million)—both projected to be the highest in the firm’s history. The performance also helped push the company’s market capitalization above ¥1 trillion, making Xiamen Tungsten the first publicly listed company based in Xiamen to reach that valuation milestone, according to the report.

Company leadership credited the results to resilience amid global economic uncertainty and sustained demand for advanced materials across key industrial sectors. Xiamen Tungsten is a major Chinese supplier of tungsten products, cemented carbides, battery materials, and rare-earth materials, positioning it at the center of supply chains for semiconductors, electric vehicles, advanced manufacturing equipment, and defense applications.

Looking ahead, Huang said the company plans to accelerate international expansion and deepen its innovation-driven strategy as China enters the opening stage of its 15th Five-Year Plan period (2026–2030). He outlined five strategic priorities for future growth: research and development, manufacturing capability, marketing expansion, procurement optimization, and mergers and acquisitions.

The event also honored top-performing executives and management teams across the company’s business units, reflecting a corporate emphasis on operational performance and leadership development. The ceremony concluded with a large orchestral concert celebrating the company’s achievements and corporate culture.

For Western industry observers, the announcement highlights the continued financial momentum of China’s critical minerals champions. Companies such as Xiamen Tungsten play a pivotal role in global supply chains for tungsten alloys, hard metals, battery materials, and rare-earth products—sectors where China maintains significant global market share.

Record earnings combined with explicit plans for international expansion and acquisitions suggest that Chinese materials producers are positioning themselves to strengthen their influence across strategic mineral supply chains in the years ahead.

Profile

Xiamen Tungsten Co., Ltd. (founded in 1958, based in Xiamen) is a major Chinese manufacturer and supplier of tungsten products, molybdenum, rare earth materials, and lithium-ion battery cathode materials. Traded on the Shanghai Stock Exchange (600549), the company operates in four main segments: tungsten/molybdenum, rare earth, battery materials, and real estate.

 Xiamen Tungsten Co., Ltd. is a state-owned enterprise (SOE), primarily controlled by the State-owned Assets Supervision and Administration Commission (SASAC) of the Fujian Provincial People's Government. It originated from the state-owned Xiamen Alumina Plant and is a key, government-backed player in China's tungsten and rare earth industries.

Disclaimer: This report summarizes information originally published by Chinese industry media and the China Rare Earth Industry Association, referencing statements from Xiamen Tungsten. Because the information originates from Chinese state-linked industry media, it should be independently verified before being relied upon for business, investment, or policy decisions.