XMWY Tungsten Industry Co., Ltd. is a group joint-stock company listed on the Shanghai Stock Exchange.
As of the end of 2018, Xiamen Tungsten Industry has 32 holding subsidiaries and 1 branch, with a national tungsten material engineering technology center, a national high-end energy storage material national and local joint engineering research center, a rare earth engineering technology center and three post-doctoral workstations. The company is a national key high-tech enterprise, the national torch plan tungsten material industry base, and the first batch of national demonstration enterprises for the development of circular economy. It is one of the six major rare earth groups in the country.
In recent years, the company adheres to the strategic policy of “relying on the development of cemented carbides to strengthen Xiamen Tungsten, and relying on the development of rare earth and new energy materials to enlarge Xiamen Tungsten”, and continues to optimize and enrich the industrial structure. The company's tungsten material industry's main product capacity is in a global leading position, of which the annual production capacity of tungsten smelting products is 30,000 tons, ranking first in the world; the export volume of cemented carbide accounts for more than 30% of the country, and the market share of tungsten wire for lamps is 70%. Ranked first in the world. In the field of rare earth industry, as one of the six major rare earth groups in the country, the company has formed a relatively complete industrial system from the development of rare earth mines, smelting separation, rare earth functional materials and scientific research applications. In the field of battery materials, the company has an annual capacity of 40,000 tons of lithium battery cathode materials and an annual sales volume of 35,000 tons. It ranks in the forefront of domestic production and sales and is the most competitive energy new material industry base in China.