China Tungsten and Hightech Materials Co (SZSE:000657) released audited financial results for 2007 on April 22 in the company's annual report.
According to the report, the company's 2007 revenue was RMB 1.52 billion, up 7.93% year-over-year; net income dropped 88.39% to RMB -167.71 million, and EPS was RMB -0.82, growth of 105% compared with the same period of 2006.
China Tungsten and Hightech Materals Co., Ltd (China Tungsten Higntech) is principally engaged in the manufacture and distribution of hard alloys and precious metals, such as tungsten, molybdenum, tantalum and niobium, as well as related products. The Company is also involved in the development and leasing of real estate. Based in Changsha, Hunan Province, the People's Republic of China, the Company offers carbides of tungsten, tungsten cobalt alloy, tungstic oxide and tungsten powder. During the year ended December 31, 2006, the Company operated its business mainly in Zigong, Sichuan Province. As of December 31, 2006, the Company had three major subsidiaries/associates.
