Institutional Research | Oil & Gas Equipment Services + Combustible Ice This company's current domestic orders are full, and they are actively advancing qualification and network certification work in the Middle East region.

On March 2nd, several listed companies released investor relations activity record announcements, disclosing their business communication content with institutions, revealing many progress and highlights in their business layouts.

Deshi Co., Ltd.: Currently, domestic orders are generally full, and the capacity for screw drill bits is currently tight

Deshi Co. held an online conference call last Friday to communicate with Huaxia Fund. During the investigation, the company revealed that since the beginning of the year, as domestic oil fields gradually resume work and production, entering the peak season for stockpiling, the company’s overall orders are full, and production and operation are proceeding in an orderly manner.

It is reported that the company’s core product, screw drill bits, as downhole tools, can be widely used in oil, natural gas, shale gas, coalbed methane, geothermal drilling projects, and crossing projects. At the same time, screw drill bits are drilling consumables in drilling operations, with different models set with a rated service life.

Regarding capacity, Deshi Co. introduced that the capacity for screw drill bits is currently tight and cannot meet all order demands for the time being; the capacity for wellhead equipment is sufficient to fully meet market order needs.

“The company’s future development focuses on domestic stability and overseas expansion, striving to achieve a pattern where both domestic and international revenues each account for 50%.” Deshi Co. stated that the company will continue to increase investment and development efforts in key oil and gas markets such as North America, South America, Russia, the broader Russian-speaking regions, the Middle East, Central Asia, and Africa. Among them, the Middle East is currently steadily advancing qualification and network access work, with plans to focus on expanding direct customer resources in the future.

In the domestic market, the company’s screw drill bit business scale is steadily growing. Deshi Co. said that in the future, with the gradual market launch of new products such as MWD (Measurement While Drilling) tools, oilfield production-increasing injection equipment, and ultra-wear-resistant high-pressure acidizing hoses, will further strongly support domestic market performance growth. “Some new products have already achieved mass production and small batch sales, with good market feedback.”

Deshi Co., Ltd. mainly engages in the research and development, production, sales, and leasing of oil and gas drilling tools and equipment, providing directional drilling, horizontal drilling engineering technical services, surface technology treatment, and other services. In the first three quarters of last year, the company’s net profit attributable to the parent increased by 50.13% year-on-year.

In the secondary market, Deshi Co. hit the daily limit up of 20cm today, with the stock price reaching a four-year high, up 30.22% since the Spring Festival.

Huaxi Nonferrous Metals: Actively Promoting Capacity Release After Copper Mine Exploration and Conversion to Production

Huaxi Nonferrous Metals recently received research from CITIC Securities, Orient Harbor, Ping An Fund, and other seven institutions.

During the investigation, Huaxi Nonferrous Metals stated that the company is accelerating the advancement of the Gaofeng No. 100+105 deep mining project and actively promoting capacity release after the exploration-to-production conversion of the copper mine. The gradual implementation of these projects will effectively enhance the company’s overall capacity and extend the service life of the mine.

The 2025 semi-annual report shows that Huaxi Nonferrous Metals has a total metal resource reserve of 4.4925 million tons, including tin, antimony, indium, zinc, lead, silver, and copper. According to the company’s 2024 annual report, the remaining mineable years of its own mines range from 8 to 32 years. Huaxi Nonferrous Metals said that in the future, the company will continue to increase exploration and reserve addition investments, and dynamically optimize capacity arrangements based on resource development progress and market demand, providing resource guarantees for long-term stable operation and sustainable development.

“The current global tin market shows a long-term structural balance.” Huaxi Nonferrous Metals pointed out that due to complex resource conditions, tightening environmental policies, and geopolitical factors, new capacity is limited, and tin supply growth is generally slow; on the demand side, driven by emerging industries such as photovoltaics, new energy vehicles, and semiconductors, there is stable growth momentum. “The company will focus on its main business, continuously optimize production and cost control, improve resource utilization, and consolidate core competitiveness.”

Regarding indium metal, Huaxi Nonferrous Metals introduced that its indium business is currently mainly based on associated recovery, with production related to the main metal output. As of the end of 2024, the company’s indium metal resource reserve was 3,332.25 tons of metal. From January to September 2025, the company’s indium ingot production was 21.21 tons.

Huaxi Nonferrous Metals stated that in the future, the company will continue to monitor market trends, organize production and sales in compliance, optimize product structure, and strive to improve resource recycling and utilization levels.

Huaxi Nonferrous Metals’ main business includes exploration, mining, and beneficiation of non-ferrous metals, with main products such as tin, zinc, lead-antimony, lead, copper concentrates, and deep-processed products like tin and indium. The company also produces tin ingots, antimony ingots, zinc ingots, and indium ingots through outsourcing, and is involved in engineering supervision.

Southwest Securities previously reported that the company is the only listed non-ferrous metals platform in Guangxi, with many external mine assets, making it promising for asset injection; the supply-demand gap for tin and antimony will exist long-term, pushing prices into an upward cycle; all major mines have expansion plans, with performance elasticity expected.

Under the triple resonance of explosive demand for computing power, intensified global mineral competition, and long-term supply-demand mismatch, the non-ferrous metals sector has been actively lively recently. Huaxi Nonferrous Metals hit the daily limit early today, achieving three limit-ups in four days, with an increase of 85.71% this year.

Regarding ETF products, the Huaxi Nonferrous Metals ETF Tianhong (159157) is a scarce ETF tracking the CSI Industrial Nonferrous Metals Index, providing investors with a one-stop efficient solution for exposure in this field. As of the close, the ETF rose 3.45%, with a trading volume of 332 million yuan.

(Source: Oriental Wealth Research Center)