Core Viewpoint - Xiamen Tungsten Co., Ltd. intends to acquire a 39% stake in Jiujiang Dadi Mining Development Co., Ltd. to secure upstream tungsten raw material supply and increase self-sufficiency in tungsten resources [2][4][18] Transaction Overview - The company signed a Letter of Intent for the transfer of shares with Beijing Shangdaxin Investment Co., Ltd., agreeing to pay an intention fee of 28 million yuan [2][4] - The acquisition is still in the planning stage, and the final transaction details, including the specific acquisition ratio and price, will depend on due diligence and negotiations [3][4] - The transaction is expected not to constitute a major asset restructuring as defined by relevant regulations [4][5] Counterparty Information - The transferor, Beijing Shangdaxin Investment Co., Ltd., is a limited liability company with a registered capital of 30 million yuan and is not related to the company [7] Target Company Information - Jiujiang Dadi Mining Development Co., Ltd. is a limited liability company with a registered capital of 120 million yuan, currently in the exploration stage with no operational revenue [8][9] - The company holds mining rights for the Yangshidian copper-molybdenum polymetallic mine and has a subsidiary, Xiushui Kunshan Tungsten Mine Co., Ltd. [9][10] Purpose and Impact of Acquisition - The acquisition aims to enhance the company's mineral resource reserves, improve raw material self-sufficiency, reduce procurement risks, and support stable production operations [18]

Mergers and Acquisitions - Fangda Carbon plans to acquire 100% equity of Tianjin Tongda Huanyu Logistics Co., Ltd. for 319 million yuan, aiming to optimize inventory management and enhance logistics efficiency [1] - Xiamen Tungsten intends to acquire a 39% stake in Jiujiang Dadi Mining Development Co., Ltd. from Beijing Shangdaxin Investment Co., Ltd., with an intention fee of 28 million yuan [2] - Efort plans to purchase 100% of Shengpu shares through a combination of issuing shares and cash payments [3] Shareholding Changes - Former senior executive He Chengzhi of Changhong Huayi increased his holdings by 59,500 shares [4] - Controlling shareholder Tianjin TEDA Investment Holding Group Co., Ltd. of TEDA Co., Ltd. plans to reduce its stake by up to 29.38 million shares, representing no more than 2% of the total share capital [5] - Controlling shareholder Liansheng Chemical Group Co., Ltd. and its concerted parties plan to reduce their holdings by up to 3% of the total shares [6] - Shareholders of Songsheng Co., Ltd. plan to collectively reduce their holdings by no more than 5% of the company's shares [7] Risk Matters - Jieqiang Equipment and its actual controller Pan Feng were convicted of bribery, resulting in a fine of 1.5 million yuan [8] - Cuihua Jewelry is under investigation by the China Securities Regulatory Commission for suspected information disclosure violations, with significant financial implications including overdue loans totaling 254 million yuan and multiple bank accounts frozen [10]

证券日报网讯 2月9日，厦门钨业在互动平台回答投资者提问时表示，近年来国内切削工具进口替代趋 势加快，下游客户更加看重供应链安全和采购性价比，积极与以公司为代表的国内头部切削工具制造商 联合研发，开展深度合作。同时公司稳步扩张中高端硬质合金刀片和刀具产能，进一步提升产品等级， 配套国内下游航空航天、通用机械、新能源等产品中高端加工环节。 （文章来源：证券日报） ...

Core Viewpoint - Xiamen Tungsten Co., Ltd. (600549) has confirmed that it strictly follows the relevant provisions of the Accounting Standards for Business Enterprises and its accounting policies to recognize inventory impairment losses [1] Group 1: Inventory Impairment Preparation - The company applies the prudence principle of the Accounting Standards for Business Enterprises, measuring inventory at the lower of cost and net realizable value [1] - When the cost of inventory exceeds its net realizable value, the company recognizes an impairment loss based on the difference, which is included in the current period's profit and loss [1] - The company typically recognizes inventory impairment losses on an individual inventory item basis, while for numerous low-priced inventory items, it recognizes impairment losses by inventory category [1]

Core Viewpoint - Xiamen Tungsten Co., Ltd. has a complete industrial chain in tungsten and molybdenum products, showcasing significant competitive advantages in various sectors including smelting, wire materials, powder, and hard alloy deep processing [1] Group 1: Tungsten and Molybdenum Business - The company produces high-end tungsten wire for photovoltaic applications, which is a result of independent research and development, holding multiple national invention patents and utility model patents [1] - Hard alloy products are characterized by high quality and high unit price, with production and sales scale ranking among the top in China [1] - Cutting tool products are positioned in the mid-to-high end market, supported by strong research and development capabilities [1] Group 2: Rare Earth Business - The company possesses a complete rare earth industrial chain, covering fine chemical products, luminescent materials, rare earth metals, high-performance magnetic materials, and optoelectronic crystals [1] Group 3: Battery Materials Business - The company has strong technological advantages, business scale advantages, and market/customer advantages in the battery materials sector, adhering to a development path focused on product high-endization, management refinement, and international operations [1]

证券日报网讯2月9日，厦门钨业（600549）在互动平台回答投资者提问时表示，为保证所有投资者平等 获悉公司信息，公司严格按照信息披露要求于各期定期报告中披露对应时点的股东人数信息。 ...

证券日报网讯 2月9日，厦门钨业在互动平台回答投资者提问时表示，公司货币资金情况请关注公司定 期报告。 （文章来源：证券日报） ...

Group 1 - The core viewpoint of the article indicates that Xiamen Tungsten has reported a decrease in the sales volume of fine tungsten wire products, while experiencing an increase in sales revenue [2] - As of September 2025, the company achieved a sales volume of 101.5 billion meters, reflecting a year-on-year decline of 5% [2] - The sales revenue for the same period increased by 4% compared to the previous year [2]

证券日报网讯 2月9日，厦门钨业在互动平台回答投资者提问时表示，金龙稀土为公司控股子公司，目 前为基础层挂牌公司，须进入创新层后方可申报公开发行股票并在北交所上市。公司后续将根据有关规 定及事项进展情况及时履行信息披露义务。 （文章来源：证券日报） ...

Core Viewpoint - The company emphasizes a "low inventory, fast turnover" operational principle to manage fluctuations in raw material prices and aims to control the impact of these fluctuations on profits within a reasonable range [2] Group 1: Operational Strategies - The company strengthens procurement and inventory management to respond to changes in raw material prices [2] - The company adjusts product sales prices based on raw material costs and market conditions to mitigate profit impacts [2] - The company plans to leverage its industry chain synergy by optimizing product and customer structure, reducing internal costs, and improving processes to enhance product profitability [2]