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Equity

China Tungsten and Hightech Materials Co., Ltd. (TUNGSTEN) perpetual futures

TUNGSTEN perpetual futures on 1 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade TUNGSTENUSDT.

China Tungsten and Hightech Materials Co., Ltd. tracked across crypto venues with normalized contract specifications.

$8.60-3.3%
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Price chart

 

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Collecting venue price data...
venue perp mark · Gate.io (TUNGSTEN/USDT)
Auto: highest-volume live perp venueOpen in TradingView

Trading data

Perpetual market activity

1/1 live markets
Venues
1
Live markets
1/1
24h volume
$2.1K
Open interest
$43.3K
Best liquidity
-
Tightest spread
+82.3 bps
Gate.io
Highest volume
$2.1K
Gate.io
Settlement mix
USDT · 1/1
Perp/spot vol.
0.00x
Spot volume $310.9M
OI / float
0.00%
Float $10B
Spot performance
1D-3.35%
5D-7.57%
1M-14.35%
6M+14.96%
YTD+106.35%
1Y+226.93%

Venue matrix

1 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
Gate.ioTradeTUNGSTEN/USDTTrading$8.600.0% APR
0.000% every 8h
+82.3 bps-$2.1K$43.3KUSDT20x

Tradability

Execution quality

Entry cost and depth per venue at $1k–$100k

No sufficient depth · 0 of 1 venues absorb $10k

No fresh book data: Gate.io

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Best liquidity

-
No live data-

Tightest spread

TUNGSTEN

Highest volume

TUNGSTEN

Funding history

Stored venue snapshots by market

Company data

Company fundamentals

Updated 1h ago
Market cap
$19.4B
Updated 1h ago
Revenue
$3.9B
Trailing 12 months
Revenue growth
+89%
Next fiscal year
Profit margin
+10.9%
P/E
45.4
Peer P/E 5.0
Free cash flow
-$218.4M
Trailing 12 months
More metrics
Net income
$423.4M
Trailing 12 months
P/S
5.0
Peer P/E
5.0
Similar listed perps
Revenue estimate
$5B
Next fiscal year
Earnings
2026-10-23
Revenue est. - · Updated 1h ago
Dividend
¥0.23
2026-07-06

Fundamental detail

Annual + quarterly
Latest revenue$2.6B
Net margin+7.3%
Free cash flow-$58.4M
Net debt$135.1M
2020$1.5B
2021$1.8B
2022$1.9B
2023$2B
2024$2.2B
2025$2.6B
PeriodRevenueGrowthNet incomeFCF
2020$1.5B+13%$32.9M-$109.9M
2021$1.8B+22%$78.5M$55.3M
2022$1.9B+8%$79.5M$27.5M
2023$2B+5%$119M$25.4M
2024$2.2B+8%$139.7M$17.3M
2025$2.6B+20%$190.5M-$58.4M
PeriodGross marginOperating marginNet marginROEROA
2020+16.8%+3.3%+2.2%+5.1%+2.4%
2021+17.8%+6.1%+4.4%+10.7%+5.4%
2022+16.8%+5.4%+4.1%+9.9%+4.6%
2023+20.7%+7.4%+5.8%+11.2%+5.1%
2024+21.5%+7.7%+6.4%+12.4%+5.4%
2025+23.7%+9.2%+7.3%+13.2%+6.0%
PeriodCashDebtNet debtCurrent ratio
2020$140.9M$395.9M$254.9M1.87
2021$144.1M$219.3M$75.2M2.00
2022$113.1M$296.4M$183.3M1.79
2023$179.2M$360.9M$181.7M1.67
2024$225.7M$428.2M$202.5M1.53
2025$302.6M$437.8M$135.1M1.50
PeriodMarket capEnterprise valueP/SP/E
2020$1B$1.3B0.731.0
2021$2.6B$2.6B1.432.6
2022$2.5B$2.7B1.332.1
2023$1.8B$1.9B0.914.9
2024$2.9B$3.1B1.320.5
2025$9.1B$9.2B3.547.8
Q3 2024$509M
Q4 2024$671.5M
Q1 2025$504.5M
Q2 2025$663M
Q3 2025$729.8M
Q4 2025$726.4M
Q1 2026$1B
Q2 2026$1.4B
PeriodRevenueGrowthNet incomeFCF
Q3 2024$509M+14%$8.8M$7.6M
Q4 2024$671.5M+9%$109.1M$96.7M
Q1 2025$504.5M+4%$32.9M-$107.3M
Q2 2025$663M+3%$43M$4.7M
Q3 2025$729.8M+43%$49.9M$36.1M
Q4 2025$726.4M+8%$64.7M$12.6M
Q1 2026$1B+107%$137M-$332.7M
Q2 2026$1.4B+110%$171.8M$65.6M
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+15.4%+2.1%+1.7%+1.0%+0.4%
Q4 2024+36.5%+19.2%+16.2%+9.7%+4.2%
Q1 2025+20.6%+8.4%+6.5%+2.3%+1.1%
Q2 2025+20.7%+8.6%+6.5%+3.0%+1.5%
Q3 2025+22.9%+8.4%+6.8%+3.4%+1.6%
Q4 2025+28.5%+11.0%+8.9%+4.5%+2.0%
Q1 2026+30.5%+19.4%+13.1%+8.6%+3.2%
Q2 2026+30.0%+15.3%+12.3%+10.2%+3.7%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$96M$422.9M$326.9M1.58
Q4 2024$225.7M$428.2M$202.5M1.53
Q1 2025$434.1M$478.3M$44.2M1.77
Q2 2025$299M$460.4M$161.4M1.75
Q3 2025$341.2M$717.7M$376.5M1.67
Q4 2025$302.6M$437.8M$135.1M1.50
Q1 2026$290.1M$817.7M$527.6M1.43
Q2 2026$387M$1.5B$1.2B1.39
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$2B$2.4B4.057.8
Q4 2024$2.8B$3B4.26.4
Q1 2025$3B$3B5.922.5
Q2 2025$4B$4.2B6.122.8
Q3 2025$6.3B$6.7B8.731.1
Q4 2025$7.3B$7.4B10.034.6
Q1 2026$16.3B$16.9B15.729.8
Q2 2026$32.4B$33.6B23.346.9

Refreshed 1h ago

Charts: revenue, profit, cash flow & valuation
Revenue$1.4BQ2 2026
$348.7M$697.5M$1B$1.4BQ3 2023: $446.5MQ4 2023: $614MQ1 2024: $487.4MQ2 2024: $645.2MQ3 2024: $509MQ4 2024: $671.5MQ1 2025: $504.5MQ2 2025: $663MQ3 2025: $729.8MQ4 2025: $726.4MQ1 2026: $1BQ2 2026: $1.4BQ3 2023Q2 2026
Net income$171.8MQ2 2026
$43M$85.9M$128.9M$171.8MQ3 2023: $10.9MQ4 2023: $72MQ1 2024: $31.8MQ2 2024: $38MQ3 2024: $8.8MQ4 2024: $109.1MQ1 2025: $32.9MQ2 2025: $43MQ3 2025: $49.9MQ4 2025: $64.7MQ1 2026: $137MQ2 2026: $171.8MQ3 2023Q2 2026
EBITDA$247.6MQ2 2026
$61.9M$123.8M$185.7M$247.6MQ3 2023: $42.2MQ4 2023: $116.1MQ1 2024: $66.1MQ2 2024: $74MQ3 2024: $41.4MQ4 2024: $137.4MQ1 2025: $72.8MQ2 2025: $78.4MQ3 2025: $98.4MQ4 2025: $115.3MQ1 2026: $169.6MQ2 2026: $247.6MQ3 2023Q2 2026
Free cash flow$65.6MQ2 2026
-$215.6M-$98.5M$18.6M$135.6MQ3 2023: -$24.7MQ4 2023: $135.6MQ1 2024: -$76.9MQ2 2024: -$10.1MQ3 2024: $7.6MQ4 2024: $96.7MQ1 2025: -$107.3MQ2 2025: $4.7MQ3 2025: $36.1MQ4 2025: $12.6MQ1 2026: -$332.7MQ2 2026: $65.6MQ3 2023Q2 2026
EPS$0.08Q2 2026
$0.02$0.04$0.06$0.08Q3 2023: $0.01Q4 2023: $0.05Q1 2024: $0.02Q2 2024: $0.02Q3 2024: $0.01Q4 2024: $0.05Q1 2025: $0.02Q2 2025: $0.02Q3 2025: $0.02Q4 2025: $0.03Q1 2026: $0.06Q2 2026: $0.08Q3 2023Q2 2026
Cash / Debt$387MQ2 2026
$386.9M$773.8M$1.2B$1.5BQ3 2023 · Cash: $87.3MQ3 2023 · Debt: $384.2MQ4 2023 · Cash: $128.9MQ4 2023 · Debt: $360.7MQ1 2024 · Cash: $75.2MQ1 2024 · Debt: $365.8MQ2 2024 · Cash: $103.5MQ2 2024 · Debt: $437.9MQ3 2024 · Cash: $96MQ3 2024 · Debt: $422.9MQ4 2024 · Cash: $225.7MQ4 2024 · Debt: $428.2MQ1 2025 · Cash: $434.1MQ1 2025 · Debt: $478.3MQ2 2025 · Cash: $299MQ2 2025 · Debt: $460.4MQ3 2025 · Cash: $341.2MQ3 2025 · Debt: $717.7MQ4 2025 · Cash: $302.6MQ4 2025 · Debt: $437.8MQ1 2026 · Cash: $290.1MQ1 2026 · Debt: $817.7MQ2 2026 · Cash: $387MQ2 2026 · Debt: $1.5BQ3 2023Q2 2026
CashDebt
Profitability+30.0%Q2 2026
+9.1%+18.3%+27.4%+36.5%Q3 2023 · Gross margin: +17.8%Q4 2023 · Gross margin: +31.3%Q1 2024 · Gross margin: +20.4%Q2 2024 · Gross margin: +19.5%Q3 2024 · Gross margin: +15.4%Q4 2024 · Gross margin: +36.5%Q1 2025 · Gross margin: +20.6%Q2 2025 · Gross margin: +20.7%Q3 2025 · Gross margin: +22.9%Q4 2025 · Gross margin: +28.5%Q1 2026 · Gross margin: +30.5%Q2 2026 · Gross margin: +30.0%Q3 2023 · Operating margin: +3.1%Q4 2023 · Operating margin: +14.9%Q1 2024 · Operating margin: +7.8%Q2 2024 · Operating margin: +7.3%Q3 2024 · Operating margin: +2.1%Q4 2024 · Operating margin: +19.2%Q1 2025 · Operating margin: +8.4%Q2 2025 · Operating margin: +8.6%Q3 2025 · Operating margin: +8.4%Q4 2025 · Operating margin: +11.0%Q1 2026 · Operating margin: +19.4%Q2 2026 · Operating margin: +15.3%Q3 2023 · Net margin: +2.4%Q4 2023 · Net margin: +11.7%Q1 2024 · Net margin: +6.5%Q2 2024 · Net margin: +5.9%Q3 2024 · Net margin: +1.7%Q4 2024 · Net margin: +16.2%Q1 2025 · Net margin: +6.5%Q2 2025 · Net margin: +6.5%Q3 2025 · Net margin: +6.8%Q4 2025 · Net margin: +8.9%Q1 2026 · Net margin: +13.1%Q2 2026 · Net margin: +12.3%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth+110.4%Q2 2026
+27.6%+55.2%+82.8%+110.4%Q3 2024: +14.0%Q4 2024: +9.4%Q1 2025: +3.5%Q2 2025: +2.8%Q3 2025: +43.4%Q4 2025: +8.2%Q1 2026: +106.6%Q2 2026: +110.4%Q3 2023Q2 2026
Shares outstanding2.3BQ2 2026
575.7M1.2B1.7B2.3BQ3 2023: 1.4BQ4 2023: 1.4BQ1 2024: 1.3BQ2 2024: 1.4BQ3 2024: 1.4BQ4 2024: 2BQ1 2025: 2BQ2 2025: 2.3BQ3 2025: 2.3BQ4 2025: 1.8BQ1 2026: 2.3BQ2 2026: 2.3BQ3 2023Q2 2026
Valuation46.9Q2 2026
14.428.943.357.8Q3 2023 · P/E: 44.4Q4 2023 · P/E: 6.1Q1 2024 · P/E: 18.0Q2 2024 · P/E: 17.8Q3 2024 · P/E: 57.8Q4 2024 · P/E: 6.4Q1 2025 · P/E: 22.5Q2 2025 · P/E: 22.8Q3 2025 · P/E: 31.1Q4 2025 · P/E: 34.6Q1 2026 · P/E: 29.8Q2 2026 · P/E: 46.9Q3 2023 · P/S: 4.3Q4 2023 · P/S: 2.9Q1 2024 · P/S: 4.2Q2 2024 · P/S: 3.0Q3 2024 · P/S: 4.0Q4 2024 · P/S: 4.2Q1 2025 · P/S: 5.9Q2 2025 · P/S: 6.1Q3 2025 · P/S: 8.7Q4 2025 · P/S: 10.0Q1 2026 · P/S: 15.7Q2 2026 · P/S: 23.3Q3 2023Q2 2026
P/EP/S
Revenue$2.6B2025
$655.9M$1.3B$2B$2.6B2018: $1.2B2019: $1.3B2020: $1.5B2021: $1.8B2022: $1.9B2023: $2B2024: $2.2B2025: $2.6B20182025
Net income$190.5M2025
$47.6M$95.3M$142.9M$190.5M2018: $20.2M2019: $18.4M2020: $32.9M2021: $78.5M2022: $79.5M2023: $119M2024: $139.7M2025: $190.5M20182025
EBITDA$375.3M2025
$93.8M$187.7M$281.5M$375.3M2018: $115.1M2019: $113M2020: $123M2021: $189.4M2022: $173.2M2023: $250.9M2024: $271.6M2025: $375.3M20182025
Free cash flow-$58.4M2025
-$68.6M-$27.3M$14M$55.3M2018: $6.3M2019: $1.9M2020: -$109.9M2021: $55.3M2022: $27.5M2023: $25.4M2024: $17.3M2025: -$58.4M20182025
EPS$0.092025
$0.02$0.04$0.06$0.092018: $0.022019: $0.022020: $0.032021: $0.062022: $0.062023: $0.082024: $0.072025: $0.0920182025
Cash / Debt$302.6M2025
$109.4M$218.9M$328.3M$437.8M2018 · Cash: $135.8M2018 · Debt: $268.3M2019 · Cash: $114.3M2019 · Debt: $342.2M2020 · Cash: $140.9M2020 · Debt: $395.9M2021 · Cash: $144.1M2021 · Debt: $219.3M2022 · Cash: $113.1M2022 · Debt: $296.4M2023 · Cash: $179.2M2023 · Debt: $360.9M2024 · Cash: $225.7M2024 · Debt: $428.2M2025 · Cash: $302.6M2025 · Debt: $437.8M20182025
CashDebt
Profitability+23.7%2025
+5.9%+11.8%+17.8%+23.7%2018 · Gross margin: +17.5%2019 · Gross margin: +18.2%2020 · Gross margin: +16.8%2021 · Gross margin: +17.8%2022 · Gross margin: +16.8%2023 · Gross margin: +20.7%2024 · Gross margin: +21.5%2025 · Gross margin: +23.7%2018 · Operating margin: +4.4%2019 · Operating margin: +3.4%2020 · Operating margin: +3.3%2021 · Operating margin: +6.1%2022 · Operating margin: +5.4%2023 · Operating margin: +7.4%2024 · Operating margin: +7.7%2025 · Operating margin: +9.2%2018 · Net margin: +1.7%2019 · Net margin: +1.4%2020 · Net margin: +2.2%2021 · Net margin: +4.4%2022 · Net margin: +4.1%2023 · Net margin: +5.8%2024 · Net margin: +6.4%2025 · Net margin: +7.3%20182025
Gross marginOperating marginNet margin
Revenue growth+19.6%2025
+5.5%+11.0%+16.4%+21.9%2019: +7.8%2020: +12.5%2021: +21.9%2022: +8.2%2023: +4.6%2024: +7.8%2025: +19.6%20182025
Shares outstanding2.2B2025
552M1.1B1.7B2.2B2018: 1.1B2019: 1.1B2020: 1.2B2021: 1.4B2022: 1.4B2023: 1.4B2024: 2.1B2025: 2.2B20182025
Valuation47.82025
12.024.035.947.92018 · P/E: 33.62019 · P/E: 47.92020 · P/E: 31.02021 · P/E: 32.62022 · P/E: 32.12023 · P/E: 14.92024 · P/E: 20.52025 · P/E: 47.82018 · P/S: 0.62019 · P/S: 0.72020 · P/S: 0.72021 · P/S: 1.42022 · P/S: 1.32023 · P/S: 0.92024 · P/S: 1.32025 · P/S: 3.520182025
P/EP/S

Next catalyst

Catalysts

Earnings
2026-10-23
Revenue est. - · Updated 1h ago
Dividend
¥0.23
2026-07-06

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 20261.91$5B+89%3
FY 20272.26$5.6B+113%3
FY 20282.86$6B+127%1
Q2 20260.00$1.4B+110%0
Q2 20270.13$1.5B+10%1
Q3 20270.17$1.6B+115%1

Company events

6
2026-10-23Earnings--
2026-08-24EarningsActual 0.51 / Estimate -Miss
2026-07-06Dividend¥0.23-
2026-04-26EarningsActual 0.4 / Estimate --
2026-04-09EarningsActual 0.2 / Estimate --
2025-10-27EarningsActual 0.15 / Estimate --

Peer comparison

Similar listed perps

Analyst track record

How the analysts covering TUNGSTEN have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings00
Analysts00
Buy / hold / sell
Upgrades / downgrades / initiations0 / 0 / 00 / 0 / 0
Price targets hit / missed
Avg. return after a rating (TipRanks)
Best / worst call / /

After buy calls on this stock: not enough measured cases yet

TipRanks data via FMP · computed Sep 24, 2026 · 0 ratings

Frequently asked questions

Where can I trade TUNGSTEN perpetual futures?

China Tungsten and Hightech Materials Co., Ltd. (TUNGSTEN) perpetual futures trade on 1 crypto venues, including Gate.io. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade TUNGSTEN around the clock?

Yes. Unlike the underlying stock, TUNGSTEN perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on TUNGSTEN perpetuals?

Right now the TUNGSTEN perp funding rate is 0.0% annualized (venue median), ranging from 0.0% to 0.0% across 1 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the TUNGSTEN perp price compare to the China Tungsten and Hightech Materials Co., Ltd. stock?

The venue-median TUNGSTEN perp mark is $8.6 versus a reference stock price of $8.6, a basis of 0.0%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

What is a TUNGSTEN perpetual future?

A TUNGSTEN perpetual is a derivative that tracks the price of China Tungsten and Hightech Materials Co., Ltd. with no expiry date. It lets you take long or short exposure to China Tungsten and Hightech Materials Co., Ltd. on crypto venues, around the clock.

What is TUNGSTENUSDT perpetual?

TUNGSTENUSDT is the symbol most crypto exchanges use for the China Tungsten and Hightech Materials Co., Ltd. perpetual settled in USDT (Tether). It tracks the TUNGSTEN share price through an index, trades 24/7 with leverage and never expires.

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