The economic benefit of the enterprise is obviously improving
In 2017, the market price increased, loss-making enterprises decreased, corporate profitability increased, and the economic benefits of the industry improved markedly, showing a steady trend. However, the production and operation of enterprises still face many difficulties and challenges. The differentiation of profitability of tungsten enterprises is intensified, and the sound foundation of the economic situation of the industry needs to be further consolidated.
The major tungsten companies in the China Tungsten Federation reported a 21.65% year-on-year increase in operating revenue in 2017, an increase of 2.97 percentage points over the first half of the year; the main business revenue increased 21.62% year-on-year, an increase of 4.10 percentage points over the first half of the year; the year-on-year growth in profits and taxes was realized. 175.30%, an increase of 57.46 percentage points over the first half of the year; the year-on-year profit loss of 2.96 billion yuan, a reversal of the loss for two consecutive years. However, the overall profitability of the industry is still not strong. The average profit rate of the industry's main business is 4.21%, which is far lower than the average level of industrial enterprises in the country. In particular, tungsten mining enterprises, because the overall price of tungsten concentrate has not yet recovered to a reasonable level of mining costs, some tungsten mining companies are still losing money, the loss of tungsten mining companies in the statistical area of 42.42%, a decrease of 9.1 than the first three quarters of 2017 Percentage points, loss of 45.82 percentage points from the year-on-year decrease. Tungsten smelting, cemented carbide enterprises and tungsten materials have enhanced profitability in processing, with a relatively small loss.