the demand side have yet to see significant improvement

Tungsten mining is one of the company's main source of profit, the company has a line of Luo Ning of pit tungsten mine and Yulu Mining stable profit contribution for the company, Yang Chu newly acquired mining has been put into production, is expected to Yang Chu mining capacity continuous release In the next 2-3 years will become a major profit growth point. Yang Chu Mining is expected to reach capacity in 2015, put into operation, Yang Chu tungsten carbide inserts mine with an annual output of about 2,500 tons of tungsten concentrate, is expected to net profit of 87.11 million yuan, 52.26 million yuan profit contribution of equityJiujiang Golden Egret Carbide project is expected to begin in 2014 contribute to the performanceCarbide is the focus of the company's development, but also the strong profitability of a business segment. The company's current production of carbide Xiamen Golden Egret stable earnings, gross margin was stable at 25% -30%, nearly three years net profit of about 1.9 billion yuan. Jiujiang Carbide project is expected to put into operation at the end of 13 years, in 2014 began to contribute to the performance, is expected to put into net profit of about 130 million yuan, 91 million yuan profit contribution of equity.Rare earth permanent magnet profit growth will become another pole3000 tons NdFeB magnets items. Changting Jinlong currently has 3,000 tons of rareearth NdFeB magnet production capacity in 2011, the project started construction in Fujian Changting, as of June 2012 have been completed and put into production, the ongoing production debugging. Although the project put into production, but did not contribute to effective if normal production and operation of the project, the estimated annual contribution to the net profit of 100 billion yuan.Optimistic about the price of tungsten and rare earth pricesOrderly supply of tungsten resources, mainly lies in several large tungsten industry companies, the demand side have yet to see significant improvement. It is expected that as the economy improves, the downstream carbide commissioning of the project, will further boost the demand for tungsten metal. The Minmetals acquisition of other companies in the market price of tungsten concentrates short-term stimulus starts up.Rare earth prices are expected to rise bottomsRare earth prices experienced in 2011 after skyrocketing, from the third quarter of 2011 began to enter the down channel, the downward trend continued throughout the year 2012, to May 2013, the basic price of rare earth rare earth prices close to 2011 before skyrocketing price level. Analysts believe that rare earth prices is to build long-term bottom, but there have been recent signs of improvement in demand, companies operating rate NdFeB rare earth prices bottoming help enhance recovery