[Chinatungsten High-tech: Net profit is expected to increase by 219%-241% year-on-year in the first three quarters. The PCB micro-drilling business will achieve both volume and price increase] On October 13, Chinatungsten High-tech (000657.SZ) announced that the net profit attributable to shareholders of listed companies in the first three quarters of 2026 is expected to be 2.90 billion yuan-3.100 billion, a year-on-year increase of 219%-241% (after restatement). During the reporting period, the average price of tungsten concentrate increased year-on-year, and the profitability of tungsten concentrate and powder products increased. At the same time, the company relied on the cost advantage of the entire industry chain to expand the profit margins of its upstream and downstream businesses. The company continues to optimize its product structure and promote the expansion of production and capacity of related products. The PCB micro-drilling business has achieved both volume and price increases, effectively enhancing profitability. Xiaocai Note: The company’s Q3 net profit is expected to be 824 million to 1.024 billion, and Q2 net profit is 1.155 billion. Based on this calculation, Q3 net profit is expected to decrease by 11% to 28% month-on-month.