[Chinatungsten High-tech: Net profit in the third quarter increased by 149% year-on-year] On October 22, Chinatungsten High-tech (000657.SZ) announced that its operating income in the third quarter was 7.314 billion yuan, a year-on-year increase of 48.88%; the net profit attributable to shareholders of listed companies was 903 million yuan, a year-on-year increase of 148.81%. Operating income in the first three quarters was 23.699 billion yuan, a year-on-year increase of 85.57%; net profit attributable to shareholders of listed companies was 2.979 billion yuan, a year-on-year increase of 227.93%. The performance growth was mainly due to the year-on-year increase in the average price of tungsten concentrate during the reporting period. The company relied on the cost advantage of the entire industry chain to drive the expansion of upstream and downstream profit margins; it also seized development opportunities in the semiconductor and artificial intelligence industries and continued to promote production and capacity expansion. The PCB micro-drilling business achieved both volume and price increases, jointly promoting performance growth. Xiaocai Note: The company’s Q3 net profit was 903 million, and Q2 net profit was 1.155 billion. Based on this calculation, Q3 net profit dropped 21% month-on-month.