Xiangyu Tungsten Industry: The large short-term increase in stock price indicates various risks.

Canglong Tungsten Industry announced that the company's stock has increased by 48.86% over the five consecutive trading days from February 6th to 12th, 2026, and the closing price on February 11th and 12th has deviated by more than 20%, which is considered abnormal fluctuation. The reason for this abnormal movement is attributed to the improvement in performance, with the prices of main raw materials for the company's main products rising and transmitting smoothly. The company also warns of risks related to macroeconomic conditions, industry policies, raw material supply, reverse osmosis of high-carbon steel wire, export trade qualifications, and currency fluctuations. It is pointed out that the company's price-to-book ratio is higher than that of the same industry, and the rapid increase in stock price deviates from the overall market and industry valuations, reminding investors to be cautious of risks.