Company Study of Xiamen Tungsten 
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The Company's production capacity of tungsten smelting products reaches 12,000 tons, and tungsten powder production capacity is 5,000 tons of tungsten powder, 3,500 tons of carbonized tungsten powder and 2000 tons of mixed materials. In addition, the Company's production capability of hard alloy is 1000 tons, 80% of which is exported. As for tungsten and molybdenum wire materials, the Company produces 1,500 tons of thick tungsten wires, 300 tons of thick molybdenum wires, 10 billion meters of thin tungsten wires, and three billion meters of thin molybdenum wires. And the production capability of new energy materials is 3500 tons of hydrogen storage alloy powder and 1500 tons of lithium cobaltate (LiCoO2).

In the year of 2006, the non-ferrous metal products such as tungsten and molybdenum generated 80% of the main operating revenue and 74% of the main operating profit.

In 2006, China's supply volume of refined tungsten ore totaled 107.1 thousand tons, including the imported 12.3 thousand tons, and the domestic 94.8 thousand tons. Except the 26.4 thousand tons of refined tungsten ore applied for ferro tungsten, special steel and tungsten chemical production, the rest 81.3 thousand tons can merely meet the demand to produce 50-60 thousand tons of APT.

China's Demand of Tungsten, 2001-2006

1 Company Profile

2 Analysis on the main business
2.1 Non-ferrous metal products
2.2 Battery materials
2.3 Real estate business

3 Profitability of the Company

4 Risks and countermeasures
Organization structure of the Company
Structure of the Company's main operating income and profit
Proportion of the Company's exported products and products sold in domestic market
Sketch map of the Company's tungsten industry chain
Price trend of China's domestic major tungsten products
Monthly average rock-bottom price of refined tungsten ore and APT, 2006
Change of income and gross profit margin of tungsten and molybdenum products
China's tungsten consumption structure
Net profit of Golden Egret Company in recent years
Income and gross profit margin of battery materials in recent years
China's demand of tungsten in recent years
Output and actual demand volume of refined tungsten ore in recent years
Forecast of refined tungsten ore output and self-sufficient ratio
Profitability forecast of the Company

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