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Benefits of tungsten enterprises continue to improve

In the first half of the year, the tungsten industry continued its steady and positive trend since last year, with enhanced profitability, reduced loss area and continued improvement of corporate profits. Enterprise production and management are still faces many difficulties and challenges: one is the deepening of the reform of "pipes", the change of government function and the continuous deepening of the reform of administrative examination and approval system and propulsion, market access, the implementation of the environmental protection tax and resource tax policy, red line drawn, and ecological protection of production safety and the strengthening of environmental protection regulations, laws and regulations of China's tungsten industry development faced in tungsten resources protection and reasonable development and utilization of the constraint, safe environmental protection pressure. The ministry of ecological environment initiated "action to clean up wastes 2018". The prevention and treatment of tungsten smelting pollution by tungsten smelting enterprises and reduction, recycling and harmless utilization and disposal of tungsten slag are faced with unprecedented pressure. Third, the overall innovation capability is not strong, the industrial chain is not balanced, the industrial concentration degree is low, the overall competitiveness of the industry is not strong, the industrial structural contradictions remain prominent, and the quality and efficiency of industrial development is not high.

According to the statistics of China tungsten industry association, the business revenue of 123 major tungsten enterprises in the first half of the year increased by 26.01%.Main business revenue increased by 26.72% year-on-year. We achieved a 39.02 percent year-on-year increase in profits and taxes. Total profit rose 55.94 percent year-on-year. The operating profit margin of 123 tungsten enterprises is 5.98%, lower than that of industrial enterprises above the national scale.
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