China Tungsten and Hightech Materials Co., Ltd. (TUNGSTEN) balance sheet

SHZ · Basic Materials · Industrial Materials · 9,155 employees · CEO Dan Wang

Price: CN¥36.78 +2.71%
Market cap: CN¥83.8B
Enterprise value: CN¥90.4B
Last report: Q3 '26 filed 2026-09-30
Next report: 2027-04-23

At the end of Q3 '26 China Tungsten and Hightech Materials Co., Ltd. (TUNGSTEN) held CN¥2.43B in cash and short-term investments against CN¥9.03B of debt incl. leases. Total assets CN¥29.9B, total liabilities CN¥16.6B, shareholders' equity CN¥12.3B.

Balance sheet

Balance sheet	Q4 '23	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26	Q3 '26
Assets
Cash & equivalents	CN¥867M	CN¥505M	CN¥696M	CN¥645M	CN¥1.52B	CN¥2.92B	CN¥2.01B	CN¥2.29B	CN¥2.03B	CN¥1.95B	CN¥2.6B	CN¥2.42B
Short-term investments	CN¥1.36M	CN¥38.6K	CN¥2.65K	CN¥1.46M	CN¥147K	CN¥0	CN¥21.7K	CN¥259K	CN¥1.47M	CN¥2.66K	CN¥8.54M	CN¥5.86M
Receivables	CN¥3.74B	CN¥4.13B	CN¥4.76B	CN¥5.01B	CN¥4.65B	CN¥5.47B	CN¥5.59B	CN¥6.5B	CN¥5.6B	CN¥7.33B	CN¥9.13B	CN¥9.51B
Inventory	CN¥3.33B	CN¥3.61B	CN¥3.3B	CN¥3.47B	CN¥3.75B	CN¥4.08B	CN¥4.09B	CN¥4.03B	CN¥4.89B	CN¥8.33B	CN¥9.19B	CN¥7.98B
Other current assets	CN¥116M	CN¥109M	CN¥88.7M	CN¥95.2M	CN¥197M	CN¥188M	CN¥182M	CN¥187M	CN¥374M	CN¥599M	CN¥944M	CN¥877M
Current assets	CN¥8.15B	CN¥8.44B	CN¥8.95B	CN¥9.37B	CN¥10.2B	CN¥12.8B	CN¥12.1B	CN¥13.2B	CN¥13.3B	CN¥20.2B	CN¥22.3B	CN¥21.1B
Property, plant & equipment (net)	CN¥3.94B	CN¥3.92B	CN¥4.02B	CN¥4.05B	CN¥5.58B	CN¥5.64B	CN¥5.59B	CN¥5.74B	CN¥6.3B	CN¥6.18B	CN¥6.17B	CN¥6.48B
Long-term investments	CN¥110M	CN¥5.86M	CN¥108M	CN¥4.43M	CN¥94.8M	CN¥181M	CN¥180M	CN¥177M	CN¥185M	CN¥171M	CN¥169M	CN¥168M
Intangible assets	CN¥476M	CN¥472M	CN¥466M	CN¥468M	CN¥922M	CN¥920M	CN¥910M	CN¥1.07B	CN¥1.31B	CN¥1.3B	CN¥1.29B	CN¥1.39B
Deferred tax assets	CN¥111M	CN¥115M	CN¥108M	CN¥123M	CN¥254M	CN¥253M	CN¥266M	CN¥297M	CN¥353M	CN¥475M	CN¥606M	CN¥543M
Other non-current assets	CN¥192M	CN¥267M	CN¥143M	CN¥299M	CN¥316M	CN¥315M	CN¥446M	CN¥276M	CN¥36.6M	CN¥172M	CN¥480M	CN¥196M
Non-current assets	CN¥4.82B	CN¥4.78B	CN¥4.84B	CN¥4.94B	CN¥7.17B	CN¥7.31B	CN¥7.39B	CN¥7.56B	CN¥8.18B	CN¥8.3B	CN¥8.71B	CN¥8.78B
Total assets	CN¥13B	CN¥13.2B	CN¥13.8B	CN¥14.3B	CN¥17.4B	CN¥20.1B	CN¥19.4B	CN¥20.8B	CN¥21.4B	CN¥28.5B	CN¥31B	CN¥29.9B
Liabilities
Accounts payable	CN¥1.35B	CN¥1.64B	CN¥1.57B	CN¥1.83B	CN¥1.78B	CN¥1.98B	CN¥2.16B	CN¥1.66B	CN¥2.43B	CN¥4.27B	CN¥6.47B	CN¥2.42B
Accrued expenses	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥284M	CN¥0	CN¥0	CN¥405M	CN¥358M
Short-term debt	CN¥987M	CN¥1.03B	CN¥1.39B	CN¥1.42B	CN¥1.49B	CN¥1.76B	CN¥1.91B	CN¥3.7B	CN¥2B	CN¥3.89B	CN¥8.8B	CN¥7.23B
Taxes payable	CN¥54.9M	CN¥38.5M	CN¥38M	CN¥35.3M	CN¥156M	CN¥117M	CN¥116M	CN¥0	CN¥210M	CN¥478M	CN¥0	CN¥0
Deferred revenue	CN¥188M	CN¥127M	CN¥170M	CN¥183M	CN¥185M	CN¥270M	CN¥261M	CN¥371M	CN¥0	CN¥0	CN¥673M	CN¥604M
Other current liabilities	CN¥1.82B	CN¥1.83B	CN¥1.9B	CN¥2.14B	CN¥2.35B	CN¥2.36B	CN¥1.93B	CN¥1.68B	CN¥3.46B	CN¥4.89B	-CN¥1.66B	CN¥2.42B
Current liabilities	CN¥4.65B	CN¥4.82B	CN¥5.39B	CN¥5.94B	CN¥6.71B	CN¥7.26B	CN¥6.87B	CN¥7.9B	CN¥8.83B	CN¥14.1B	CN¥16B	CN¥13.6B
Long-term debt	CN¥1.39B	CN¥1.38B	CN¥1.49B	CN¥1.36B	CN¥1.34B	CN¥1.4B	CN¥1.14B	CN¥1.07B	CN¥902M	CN¥1.56B	CN¥1.48B	CN¥1.66B
Lease obligations (non-current)	CN¥52.3M	CN¥55.4M	CN¥60M	CN¥64.8M	CN¥51.4M	CN¥55.5M	CN¥45.4M	CN¥48.8M	CN¥45.5M	CN¥48.5M	CN¥126M	CN¥140M
Deferred revenue (non-current)	CN¥224M	CN¥212M	CN¥207M	CN¥198M	CN¥473M	CN¥479M	CN¥479M	CN¥475M	CN¥485M	CN¥472M	CN¥465M	CN¥463M
Deferred tax liabilities	CN¥53.9M	CN¥59.1M	CN¥54.4M	CN¥60.6M	CN¥68.4M	CN¥76.4M	CN¥71M	CN¥69.4M	CN¥73.9M	CN¥82.5M	CN¥86.2M	CN¥103M
Other non-current liabilities	CN¥105M	CN¥107M	CN¥103M	CN¥108M	CN¥491M	CN¥511M	CN¥520M	CN¥540M	CN¥556M	CN¥635M	CN¥584M	CN¥614M
Non-current liabilities	CN¥1.82B	CN¥1.81B	CN¥1.92B	CN¥1.79B	CN¥2.42B	CN¥2.52B	CN¥2.25B	CN¥2.21B	CN¥2.06B	CN¥2.8B	CN¥2.74B	CN¥2.98B
Total liabilities	CN¥6.47B	CN¥6.63B	CN¥7.31B	CN¥7.73B	CN¥9.13B	CN¥9.78B	CN¥9.12B	CN¥10.1B	CN¥10.9B	CN¥16.9B	CN¥18.7B	CN¥16.6B
Equity
Common stock & paid-in capital	CN¥1.4B	CN¥1.4B	CN¥1.4B	CN¥1.4B	CN¥1.4B	CN¥2.28B	CN¥2.28B	CN¥2.28B	CN¥2.28B	CN¥2.28B	CN¥2.28B	CN¥2.28B
Retained earnings	CN¥1.09B	CN¥1.15B	CN¥1.06B	CN¥1.11B	CN¥2.31B	CN¥2.52B	CN¥2.45B	CN¥2.79B	CN¥3.08B	CN¥4B	CN¥4.63B	CN¥5.53B
Accumulated other comprehensive income	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥4.81B	CN¥0	CN¥0	-CN¥115M	CN¥4.45B
Shareholders' equity	CN¥5.77B	CN¥5.85B	CN¥5.76B	CN¥5.85B	CN¥7.55B	CN¥9.57B	CN¥9.53B	CN¥9.87B	CN¥9.72B	CN¥10.7B	CN¥11.3B	CN¥12.3B
Debt
Total debt (incl. leases)	CN¥2.43B	CN¥2.46B	CN¥2.94B	CN¥2.84B	CN¥2.88B	CN¥3.22B	CN¥3.1B	CN¥4.82B	CN¥2.94B	CN¥5.5B	CN¥10.4B	CN¥9.03B
Net debt (debt - cash)	CN¥1.56B	CN¥1.95B	CN¥2.25B	CN¥2.2B	CN¥1.36B	CN¥297M	CN¥1.09B	CN¥2.53B	CN¥909M	CN¥3.55B	CN¥7.8B	CN¥6.61B

Balance sheet	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Assets
Cash & equivalents	CN¥602M	CN¥959M	CN¥913M	CN¥769M	CN¥947M	CN¥969M	CN¥761M	CN¥1.2B	CN¥1.52B	CN¥2.03B
Short-term investments	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥701K	CN¥1.36M	CN¥147K	CN¥1.47M
Receivables	CN¥1.09B	CN¥1.27B	CN¥1.23B	CN¥1.5B	CN¥1.65B	CN¥1.69B	CN¥3.24B	CN¥4.05B	CN¥4.65B	CN¥5.6B
Inventory	CN¥1.57B	CN¥1.87B	CN¥1.84B	CN¥1.85B	CN¥2.52B	CN¥2.81B	CN¥2.93B	CN¥3.53B	CN¥3.75B	CN¥4.89B
Other current assets	CN¥32.8M	CN¥56.9M	CN¥25.3M	CN¥97.3M	CN¥101M	CN¥73.2M	CN¥85.6M	CN¥136M	CN¥197M	CN¥374M
Current assets	CN¥3.39B	CN¥4.27B	CN¥4.2B	CN¥4.28B	CN¥5.3B	CN¥5.68B	CN¥7.1B	CN¥9.01B	CN¥10.2B	CN¥13.3B
Property, plant & equipment (net)	CN¥2.57B	CN¥2.44B	CN¥2.52B	CN¥2.84B	CN¥3.21B	CN¥3.35B	CN¥3.78B	CN¥5.19B	CN¥5.58B	CN¥6.19B
Long-term investments	CN¥22.3M	CN¥19.1M	CN¥14.3M	CN¥13.3M	CN¥26.5M	CN¥28.4M	CN¥6.09M	CN¥110M	CN¥94.8M	CN¥185M
Intangible assets	CN¥601M	CN¥575M	CN¥552M	CN¥527M	CN¥530M	CN¥506M	CN¥486M	CN¥759M	CN¥922M	CN¥1.31B
Deferred tax assets	CN¥76.6M	CN¥86.6M	CN¥80.2M	CN¥82.6M	CN¥90.3M	CN¥86M	CN¥115M	CN¥234M	CN¥254M	CN¥353M
Other non-current assets	CN¥19.8M	CN¥27.2M	CN¥70.3M	CN¥96.9M	CN¥128M	CN¥170M	CN¥215M	CN¥416M	CN¥316M	CN¥143M
Non-current assets	CN¥3.29B	CN¥3.15B	CN¥3.24B	CN¥3.56B	CN¥3.98B	CN¥4.14B	CN¥4.6B	CN¥6.71B	CN¥7.17B	CN¥8.18B
Total assets	CN¥6.67B	CN¥7.42B	CN¥7.44B	CN¥7.84B	CN¥9.28B	CN¥9.82B	CN¥11.7B	CN¥15.7B	CN¥17.4B	CN¥21.4B
Liabilities
Accounts payable	CN¥735M	CN¥864M	CN¥558M	CN¥580M	CN¥597M	CN¥589M	CN¥910M	CN¥1.56B	CN¥1.78B	CN¥2.43B
Short-term debt	CN¥1.08B	CN¥1.19B	CN¥1.55B	CN¥2.11B	CN¥1.52B	CN¥456M	CN¥790M	CN¥987M	CN¥1.49B	CN¥2B
Taxes payable	CN¥16.1M	CN¥28.6M	CN¥47.2M	CN¥24.5M	CN¥19.4M	CN¥20M	CN¥49.8M	CN¥106M	CN¥156M	CN¥210M
Deferred revenue	CN¥154M	CN¥235M	CN¥190M	CN¥175M	CN¥143M	CN¥216M	CN¥222M	CN¥188M	CN¥185M	CN¥0
Other current liabilities	CN¥389M	CN¥350M	CN¥298M	CN¥49M	CN¥243M	CN¥1.18B	CN¥1.64B	CN¥2.04B	CN¥2.35B	CN¥3.46B
Current liabilities	CN¥2.52B	CN¥2.88B	CN¥2.98B	CN¥3.2B	CN¥2.83B	CN¥2.84B	CN¥3.96B	CN¥5.4B	CN¥6.71B	CN¥8.83B
Long-term debt	CN¥361M	CN¥308M	CN¥258M	CN¥193M	CN¥1.08B	CN¥973M	CN¥1.13B	CN¥1.39B	CN¥1.34B	CN¥902M
Lease obligations (non-current)	CN¥0	CN¥0	CN¥0	CN¥0	CN¥61.9M	CN¥45.4M	CN¥72M	CN¥53.7M	CN¥51.4M	CN¥45.5M
Deferred revenue (non-current)	CN¥141M	CN¥130M	CN¥143M	CN¥140M	CN¥157M	CN¥161M	CN¥222M	CN¥461M	CN¥473M	CN¥485M
Deferred tax liabilities	CN¥2.14M	CN¥787K	CN¥529K	CN¥3.87M	CN¥13.5M	CN¥23.3M	CN¥61.9M	CN¥72.6M	CN¥68.4M	CN¥73.9M
Other non-current liabilities	CN¥137M	CN¥343M	CN¥280M	CN¥227M	CN¥197M	CN¥146M	CN¥127M	CN¥445M	CN¥491M	CN¥556M
Non-current liabilities	CN¥641M	CN¥782M	CN¥681M	CN¥563M	CN¥1.51B	CN¥1.35B	CN¥1.61B	CN¥2.42B	CN¥2.42B	CN¥2.06B
Total liabilities	CN¥3.16B	CN¥3.67B	CN¥3.66B	CN¥3.77B	CN¥4.34B	CN¥4.18B	CN¥5.57B	CN¥7.82B	CN¥9.13B	CN¥10.9B
Equity
Common stock & paid-in capital	CN¥629M	CN¥629M	CN¥880M	CN¥880M	CN¥1.05B	CN¥1.07B	CN¥1.08B	CN¥1.4B	CN¥1.4B	CN¥2.28B
Retained earnings	-CN¥369M	-CN¥315M	-CN¥181M	-CN¥301M	-CN¥80.2M	CN¥447M	CN¥823M	CN¥1.61B	CN¥2.31B	CN¥3.08B
Accumulated other comprehensive income	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥2.12B
Shareholders' equity	CN¥2.98B	CN¥3.17B	CN¥3.18B	CN¥3.48B	CN¥4.3B	CN¥4.91B	CN¥5.39B	CN¥7.13B	CN¥7.55B	CN¥9.72B
Debt
Total debt (incl. leases)	CN¥1.44B	CN¥1.49B	CN¥1.8B	CN¥2.3B	CN¥2.66B	CN¥1.47B	CN¥1.99B	CN¥2.43B	CN¥2.88B	CN¥2.94B
Net debt (debt - cash)	CN¥835M	CN¥535M	CN¥891M	CN¥1.53B	CN¥1.71B	CN¥506M	CN¥1.23B	CN¥1.22B	CN¥1.36B	CN¥909M

Standardised from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in CNY.

Cash, investments and debt

quarter ends

The other statements

Income statementRevenue, costs, operating income, net income and EPSOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings.

Data as of 2026-11-02