China Tungsten and Hightech Materials Co., Ltd. (TUNGSTEN) income statement

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

China Tungsten and Hightech Materials Co., Ltd. (TUNGSTEN) reported revenue of CN¥7.31B for Q3 '26 (+49.1% year on year), operating income of CN¥1.4B (19.2% of revenue) and net income of CN¥903M. Over the last four quarters revenue was CN¥28.6B.

Income statement

Income statement	Q4 '23	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26	Q3 '26
Revenue	CN¥4.13B	CN¥3.28B	CN¥4.34B	CN¥3.42B	CN¥4.51B	CN¥3.39B	CN¥4.46B	CN¥4.91B	CN¥4.88B	CN¥7.01B	CN¥9.38B	CN¥7.31B
Cost of revenue	CN¥2.84B	CN¥2.61B	CN¥3.49B	CN¥2.89B	CN¥2.86B	CN¥2.69B	CN¥3.53B	CN¥3.79B	CN¥3.49B	CN¥4.87B	CN¥6.56B	CN¥4.94B
Gross profit	CN¥1.29B	CN¥668M	CN¥848M	CN¥528M	CN¥1.65B	CN¥700M	CN¥923M	CN¥1.12B	CN¥1.39B	CN¥2.13B	CN¥2.81B	CN¥2.37B
Research & development	CN¥262M	CN¥127M	CN¥191M	CN¥143M	CN¥281M	CN¥127M	CN¥202M	CN¥228M	CN¥0	CN¥247M	CN¥409M	CN¥314M
Sales & marketing	CN¥109M	CN¥89.3M	CN¥118M	CN¥114M	CN¥119M	CN¥92M	CN¥111M	CN¥0	-CN¥167M	CN¥172M	-CN¥60.4M	CN¥283M
General & administrative	CN¥273M	CN¥148M	CN¥174M	CN¥153M	CN¥305M	CN¥155M	CN¥177M	CN¥344M	-CN¥307M	CN¥238M	-CN¥161M	CN¥489M
Other operating expenses	CN¥29.9M	CN¥46.1M	CN¥48.6M	CN¥45.6M	CN¥78M	CN¥39.3M	CN¥49.2M	CN¥138M	CN¥1.33B	CN¥119M	CN¥1.19B	-CN¥115M
Operating expenses	CN¥675M	CN¥411M	CN¥532M	CN¥455M	CN¥784M	CN¥413M	CN¥540M	CN¥709M	CN¥856M	CN¥776M	CN¥1.38B	CN¥970M
Operating income	CN¥616M	CN¥257M	CN¥316M	CN¥72.6M	CN¥865M	CN¥287M	CN¥383M	CN¥412M	CN¥535M	CN¥1.36B	CN¥1.43B	CN¥1.4B
Interest income	CN¥1.77M	CN¥1.77M	CN¥1.53M	CN¥1.41M	CN¥4.71M	CN¥2.49M	CN¥4.94M	CN¥4.71M	CN¥0	CN¥4.17M	CN¥7.31M	CN¥2.24M
Interest expense	CN¥24.2M	CN¥20.8M	CN¥25.1M	CN¥25M	CN¥32.3M	CN¥21.5M	CN¥29M	CN¥26.3M	CN¥20.5M	CN¥34.2M	CN¥37.1M	CN¥31.9M
Other non-operating income (gains on investments, FX ...)	-CN¥13.1M	-CN¥36M	-CN¥5.84M	-CN¥86.5M	CN¥117M	-CN¥27.4M	CN¥32.6M	-CN¥33.3M	-CN¥22.7M	CN¥218M	CN¥0	CN¥0
Total non-operating income	-CN¥7.39M	CN¥6.53M	CN¥1.72M	CN¥10.9M	CN¥17.1M	CN¥2.18M	CN¥1.86M	CN¥4.93M	CN¥2.2M	-CN¥252M	-CN¥5.32M	-CN¥72.1M
Income before tax	CN¥609M	CN¥264M	CN¥317M	CN¥83.5M	CN¥882M	CN¥289M	CN¥385M	CN¥417M	CN¥538M	CN¥1.11B	CN¥1.43B	CN¥1.33B
Income tax	CN¥72.8M	CN¥32.7M	CN¥44.6M	CN¥2.27M	CN¥112M	CN¥49.7M	CN¥62.8M	CN¥46.2M	CN¥77.8M	CN¥115M	CN¥208M	CN¥362M
Net income	CN¥484M	CN¥214M	CN¥255M	CN¥59.2M	CN¥733M	CN¥221M	CN¥289M	CN¥335M	CN¥435M	CN¥921M	CN¥1.16B	CN¥903M
EPS (basic)	CN¥0.35	CN¥0.15	CN¥0.13	CN¥0.04	CN¥0.36	CN¥0.11	CN¥0.13	CN¥0.15	CN¥0.20	CN¥0.40	CN¥0.51	CN¥0.40
EPS (diluted)	CN¥0.35	CN¥0.15	CN¥0.13	CN¥0.04	CN¥0.36	CN¥0.11	CN¥0.13	CN¥0.15	CN¥0.20	CN¥0.40	CN¥0.51	CN¥0.40
Shares (basic, weighted)	1.4B	1.28B	1.4B	1.4B	2.05B	2.01B	2.28B	2.28B	1.76B	2.3B	2.28B	2.28B
Shares (diluted, weighted)	1.4B	1.28B	1.4B	1.4B	2.05B	2.01B	2.28B	2.28B	1.76B	2.3B	2.28B	2.28B
Depreciation & amortization	CN¥132M	CN¥183M	CN¥183M	CN¥206M	CN¥206M	CN¥194M	CN¥194M	CN¥217M	CN¥217M	CN¥0	CN¥230M	CN¥0
EBITDA	CN¥761M	CN¥476M	CN¥504M	CN¥365M	CN¥954M	CN¥508M	CN¥544M	CN¥662M	CN¥775M	CN¥1.14B	CN¥1.66B	CN¥1.4B

Income statement	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	CN¥5.2B	CN¥6.71B	CN¥8.18B	CN¥8.81B	CN¥9.92B	CN¥12.1B	CN¥13.1B	CN¥13.7B	CN¥14.7B	CN¥17.6B
Cost of revenue	CN¥4.28B	CN¥5.47B	CN¥6.74B	CN¥7.21B	CN¥8.25B	CN¥9.94B	CN¥10.9B	CN¥10.8B	CN¥11.6B	CN¥13.5B
Gross profit	CN¥919M	CN¥1.24B	CN¥1.43B	CN¥1.6B	CN¥1.67B	CN¥2.15B	CN¥2.2B	CN¥2.83B	CN¥3.17B	CN¥4.18B
Research & development	CN¥195M	CN¥212M	CN¥175M	CN¥335M	CN¥367M	CN¥412M	CN¥415M	CN¥609M	CN¥694M	CN¥0
Sales & marketing	CN¥315M	CN¥350M	CN¥395M	CN¥411M	CN¥351M	CN¥359M	CN¥374M	CN¥406M	CN¥437M	CN¥189M
General & administrative	CN¥436M	CN¥341M	CN¥393M	CN¥411M	CN¥449M	CN¥485M	CN¥597M	CN¥705M	CN¥726M	CN¥235M
Other operating expenses	-CN¥73.8M	CN¥103M	CN¥113M	CN¥149M	CN¥170M	CN¥165M	CN¥103M	CN¥108M	CN¥172M	CN¥2.13B
Operating expenses	CN¥873M	CN¥1.01B	CN¥1.08B	CN¥1.31B	CN¥1.34B	CN¥1.42B	CN¥1.49B	CN¥1.83B	CN¥2.03B	CN¥2.55B
Operating income	CN¥45.9M	CN¥237M	CN¥356M	CN¥296M	CN¥330M	CN¥732M	CN¥709M	CN¥1.01B	CN¥1.14B	CN¥1.62B
Interest income	CN¥4.74M	CN¥4.88M	CN¥7.22M	CN¥5.25M	CN¥8.41M	CN¥48.8K	CN¥3.87M	CN¥3.4M	CN¥9.42M	CN¥9.81M
Interest expense	CN¥85.1M	CN¥81.4M	CN¥95.2M	CN¥108M	CN¥108M	CN¥108M	CN¥93M	CN¥94.6M	CN¥103M	CN¥97.3M
Other non-operating income (gains on investments, FX ...)	-CN¥52.8M	-CN¥53.8M	-CN¥31M	-CN¥48.4M	-CN¥56.2M	-CN¥82.3M	-CN¥6.48M	-CN¥75.1M	CN¥14.8M	-CN¥103M
Total non-operating income	CN¥58.6M	-CN¥15.3M	-CN¥87.4M	-CN¥46.1M	CN¥6.68M	-CN¥7.38M	CN¥24.6M	CN¥10.7M	CN¥37.5M	CN¥5.84M
Income before tax	CN¥105M	CN¥221M	CN¥269M	CN¥250M	CN¥337M	CN¥725M	CN¥733M	CN¥1.02B	CN¥1.18B	CN¥1.63B
Income tax	CN¥51M	CN¥31.9M	CN¥65.5M	CN¥50.3M	CN¥40.5M	CN¥86.5M	CN¥72.3M	CN¥108M	CN¥143M	CN¥236M
Net income	CN¥13.3M	CN¥135M	CN¥136M	CN¥124M	CN¥221M	CN¥528M	CN¥535M	CN¥800M	CN¥939M	CN¥1.28B
EPS (basic)	CN¥0.01	CN¥0.12	CN¥0.12	CN¥0.11	CN¥0.18	CN¥0.38	CN¥0.38	CN¥0.57	CN¥0.45	CN¥0.58
EPS (diluted)	CN¥0.01	CN¥0.12	CN¥0.12	CN¥0.11	CN¥0.18	CN¥0.38	CN¥0.38	CN¥0.57	CN¥0.45	CN¥0.58
Shares (basic, weighted)	1.14B	1.14B	1.14B	1.14B	1.25B	1.4B	1.4B	1.4B	2.09B	2.21B
Shares (diluted, weighted)	1.14B	1.14B	1.14B	1.14B	1.25B	1.4B	1.4B	1.4B	2.09B	2.21B
Depreciation & amortization	CN¥403M	CN¥401M	CN¥391M	CN¥419M	CN¥445M	CN¥483M	CN¥486M	CN¥614M	CN¥777M	CN¥808M
EBITDA	CN¥502M	CN¥692M	CN¥778M	CN¥763M	CN¥831M	CN¥1.3B	CN¥1.2B	CN¥1.7B	CN¥1.9B	CN¥2.53B

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.

Revenue, operating income and growth

quarterly

Margins

quarterly

Costs as % of revenue

quarterly

The other statements

Balance sheetCash, investments, assets, debt, liabilities and equityOpen 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