Statement
As the sponsor (underwriter) for Guangdong Xianglu Tungsten Co., Ltd. (hereinafter referred to as "Guangdong Xianglu," "the Company," or "the Issuer")'s issuance of A-shares to specific objects in 2023 (hereinafter referred to as "this Offering"), Guosheng Securities Co., Ltd. (hereinafter referred to as "Guosheng Securities" or "the Sponsor") and its sponsored representatives have, in accordance with the "Company Law of the People's Republic of China," the "Securities Law of the People's Republic of China," the "Administrative Measures for Securities Issuance and Listing Sponsorship Business," the "Administrative Measures for Securities Issuance Registration of Listed Companies," and other relevant laws and regulations, as well as the relevant regulations of the China Securities Regulatory Commission and the Shenzhen Stock Exchange, honestly and faithfully, diligently and responsibly, strictly in accordance with the legally formulated business rules and industry self-regulatory norms, issued this listing sponsorship letter, and guarantee that the issued documents are true, accurate, and complete.
Unless otherwise specified, the terms used in this listing sponsorship letter are the same as those in the "Prospectus for Guangdong Xianglu Tungsten Co., Ltd.'s Issuance of A-shares to Specific Objects in 2023."
I. Basic Information of the Issuer
(I) Basic Information of the Issuer
| Company Name: | Guangdong Xianglu Tungsten Co., Ltd. |
|---|---|
| English Name: | Guangdong Xianglu Tungsten Co., Ltd. |
| Stock Exchange: | Shenzhen Stock Exchange |
| Stock Abbreviation: | Xianglu Tungsten |
| Stock Code: | 002842.SZ |
| Date of Establishment: | April 17, 1997 |
| Date of Listing: | January 19, 2017 |
| Registered Capital: | RMB 32,717.2422 million |
| Legal Representative: | Chen Qifeng |
| Registered Address: | Antou Industrial Zone, Guantang Town, Xiangqiao District, Chaozhou City, Guangdong Province |
| Office Address: | Antou Industrial Zone, Guantang Town, Xiangqiao District, Chaozhou City, Guangdong Province |
| Unified Social Credit Code: | 914451002823643033 |
| Phone: | 0768-6972888 (8068) |
| Fax: | 0768-6303998 |
| Postal Code: | 515633 |
| Website: | http://www.xl-tungsten.com/ |
| Email: | Stock@xl-tungsten.com |
| Business Scope: | Processing and sales of tungsten concentrate, tungsten products, cemented carbides, and deep-processed tungsten products; import and export of goods or technologies (excluding goods and technologies prohibited by national laws or requiring administrative licensing). (Projects subject to approval according to law can only be carried out after approval by relevant departments) |
(II) Main Business of the Issuer
The issuer is one of the enterprises with a complete industrial chain in the domestic tungsten industry. Through years of development, the issuer has formed a production system for a full range of tungsten products, from upstream tungsten concentrate mining and beneficiation, midstream ammonium paratungstate smelting, and tungsten oxide and tungsten carbide powder preparation, to downstream cemented carbides and tungsten wire for photovoltaic applications.
During the reporting period, the issuer's main products were tungsten powder products, cemented carbides, and tungsten wire, with tungsten powder products mainly being tungsten carbide powder.
The position of the issuer's product structure in the industrial chain is shown in the figure below:
[Chart: Tungsten industry product chain diagram]
Note: The products currently produced by the company are within the blue dashed box. Among them, tungsten carbide powder and cemented carbides are the main sources of income for the company.
Tungsten Concentrate: The beneficiation process of tungsten concentrate is generally to crush, ball mill, and gravity separate (mainly shaking tables, jigs), float, and electro-separate the tungsten ore (wolframite or scheelite) to produce national standard black tungsten concentrate or white tungsten concentrate. It is the main raw material for producing tungsten compounds such as ferrotungsten, sodium tungstate, and ammonium paratungstate (APT), and metatungstic acid (AMT). Its downstream products mainly include tungsten trioxide, blue tungsten oxide, tungsten powder, tungsten carbide, cemented carbides, tungsten steel, tungsten wire, tungsten strips, etc.