Zhangyuan tungsten industry chain advantage high-precision coating knife to help develop

Abstract Zhangyuan Tungsten Industry Co., Ltd. is one of the few manufacturers in the domestic industrial chain of tungsten industry, the first two suppliers of tungsten powder and tungsten carbide powder, and the top four suppliers of hard alloy. Since its establishment, the company has been focusing on the tungsten industry, and the industrial chain has continued to extend upstream and downstream, from the establishment of the initial single APT smelting...

Zhangyuan Tungsten Industry Co., Ltd. is one of the few manufacturers with complete industrial chain in the domestic tungsten industry, the top two suppliers of tungsten powder and tungsten carbide powder, and the top four suppliers of cemented carbide. Since its establishment, the company has been focusing on the tungsten industry. The industrial chain has continued to extend upstream and downstream. From the establishment of the initial single APT smelting business to a domestic integrated production system with upstream mining, mineral processing, midstream smelting and downstream deep processing. Large tungsten industry enterprises. Resource advantage lays the foundation for development
Tungsten is an irreplaceable basic material and strategic resource for the national economy and modern national defense. The hard alloy made of tungsten has ultra-high hardness and excellent wear resistance, and is used to manufacture various cutting tools, tools, drills and wear-resistant zeros. Parts, known as "industrial teeth", hard alloys are widely used in military, aerospace, machining, metallurgy, oil drilling and other fields, tungsten wire is a key material in the lighting, electronics and other industries.

Zhangzhou Tungsten Industry Co., Ltd. is rich in tungsten ore resources and is known as the "World Tungsten Capital". The company owns Taoxikeng Tungsten Mine, Xin'anzi Tungsten and Tin Mine, Dayu Shilei Tungsten Mine, and Patio Tungsten Mine. The four mining rights mining areas, the total mining area of ​​the four mining areas is 39 square kilometers, the total ore volume reaches 3,254,400 tons, of which the retained tungsten reserves are 96,000 tons, accounting for 5.33% of the national total; the four mines are all available for easy selection. The recovery rate of ore dressing is above 80%, and the average grade of tungsten is 2.104%. The tungsten grade of Taoxikeng tungsten mine is as high as 2.600%. It is a rare high-grade tungsten mine in China. According to static calculation, the company's abundant tungsten reserves can ensure About 30 years of mining support capacity under existing conditions.

Zhangyuan Tungsten has 5 exploration rights mining areas, including Dongfeng Mining Area, Shizhen Mining Area, Baixi Mining Area, Bikeng Mining Area and Changliukeng Mining Area. The total exploration area is 143.54 square kilometers, of which the prospective reserves of tungsten are at least 50,000 tons. At the same time, the expected reserves of tin metal and copper metal will exceed 15,000 tons and 17,500 tons respectively. The rich mineral resources have laid a good foundation for the company's future development.

Industry chain core technology industry leading
The company is one of the few manufacturers with complete industrial chain in the domestic tungsten industry. In addition to having five prospecting rights mining areas and four mining rights mines, the company also owns five tungsten smelting and deep processing plants, and has established mining and beneficiation from tungsten upstream. From the middle smelting to the complete integrated production system of downstream deep processing, the core technology of the industrial chain is at the domestic leading level.

Intensive processing is the downstream of the company's industrial chain, and is the core of the competition of tungsten processing enterprises. The advanced equipment and technical requirements are higher. The company has established a strategy of expanding and strengthening the complete industrial chain, and continuously increased investment in intensive processing. As of the end of 2009, the company has formed a strong production capacity of 9000 tons of tungsten powder and tungsten carbide powder, 1000 tons of cemented carbide and 200 tons of tungsten.

In terms of technology, the core technology technology of the company's industrial chain is at the domestic leading or international advanced level: the smelting process uses "black and white tungsten concentrate decomposition", "ion exchange new process" and "ammonia recovery and deamination conversion" and other technical processes, APT alkali consumption, water consumption, and tons of ammonia emission targets are much better than the advanced level, has a good energy saving effect; intensive processing stages downstream, the company can produce tungsten powder grain size and purity of greater than 99.995% is less than 100 Nano-tungsten carbide powder, ultra-fine grained cemented carbide with grain size less than 400 nm, among which "white (black) tungsten ore is clean and efficient to produce ultra-high-performance tungsten powder complete technology and industrialization" obtained "national science and technology" The second prize for progress, "the production technology of spherical, single crystal and ultra-fine ATP" won the first prize of Jiangxi Science and Technology Progress Award.

The company's first-mover advantage in the military industry will become an important guarantee for the company's performance. In September 2007, the company invested 57.6 million shares in Xi'an Huashan, and the other two shareholders of Xi'an Huashan were controlled by the Ordnance Group, which made the company the first and only domestic joint venture with military enterprises. Industry companies, one of the two domestic tungsten military suppliers. The military orders ensured the good demand of the company's products, and also laid a first-mover advantage for the company under the trend of "military transfer to the people."

Fundraising projects to develop profit margins
After the IPO is successful, the company will launch three fund-raising investment projects. Among them, "high-performance, high-precision coating blade technological transformation project" will significantly enhance the company's product quality, enhance the core competitiveness of the issuer, the issuer become the next a major profit growth point.

From the point of view of market capacity, high-performance, high-precision coating blade market prospects, demand showed steady growth, with domestic manufacturing equipment and technology upgrades, the amount of growth in the domestic market demand for high-performance, high-precision coating blade will be more From the perspective of competitors, in the domestic market, international superior manufacturers do not have the advantage of "cost-effective", while domestic superior manufacturers are far from meeting the needs of the domestic market; in the international market, especially in developing countries, the company is investing The product will have a strong competitive advantage (310368, fund). After the company's fund-raising project is put into production, its economic benefits will be much higher than the existing blades. The company's existing blades are priced at about 3 yuan per piece, and the price of the raised blades is about 24.5 yuan per piece. The fixed asset ratio is 0.32, which is higher than the existing blade of 0.23, which will become another profit growth point for the company.

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