The 2025 2nd SMM Southeast Asia Automotive Supply Chain Conference was successfully held, featuring the on-site launch of 10 new car models, Southeast Asia brand strategies from three automakers, and SMM's local steel prices in Thailand. The event facilitated efficient matchmaking between 12+ buyers and 60+ suppliers, and preliminarily established a communication platform for the entire industry chain of Southeast Asian automotive. Currently, the NEV industry in Southeast Asia is entering a critical development phase. Thailand, Indonesia, and Vietnam each have their own strategic layouts and breakthroughs, while the industry also faces challenges such as supply chain restructuring, competition over technology roadmaps, and localization compliance. Thanks to the support of all parties, SMM's local pricing systems in Thailand and Indonesia have been implemented and adopted by core enterprises, establishing a credible cost benchmark for the industry. The 2026 3rd Conference will focus on three core themes: exploring the NEV auto sales potential in Southeast Asia; connecting the last mile of the supply chain and integrating regional industry chain resources; and advancing SMM's Southeast Asia metal pricing from a price reference to a transaction benchmark, implementing electrification material procurement applications, and establishing an executable pricing system. We firmly believe that true progress comes from turning consensus into action. At this conference, BEST cordially invites you to gather again in Bangkok to transform strategic blueprints into market competitive advantages, to witness and participate in this extraordinary and far-reaching industry event, and to co-create a brilliant new chapter! Click the to register now. Booth No.: B04 BEST was established in 1997 and listed on the ChiNext Board of the Shenzhen Stock Exchange in 2017. As a national high-tech enterprise with 1,400 employees, it has been deeply engaged in the precision manufacturing field for nearly 30 years. Its three core businesses include: precision parts for traditional automobiles, high-end tooling and fixtures, and intelligent equipment; core components for NEVs, hydrogen fuel cells, energy storage, and liquid cooling for computing centers; and high-precision linear motion functional components for industrial machine tools and humanoid robots. Wuxi Best Precision Machinery Co., Ltd., established in 1997 and listed on the Shenzhen in 2017, is a national high-tech enterprise with 1,400 employees. It has been deeply involved in the precision manufacturing field for nearly 30 years. Its main businesses include three core areas: precision parts for traditional automobiles, high-end tooling and fixtures, and intelligent equipment; core components for new energy vehicles, hydrogen fuel cells, energy storage, and liquid cooling for computing centers; and high-precision linear motion functional components for industrial machine tools and humanoid robots. The company has three major production sites in Wuxi, Anhui, and Thailand, achieving large-scale R&D and mass production. It possesses a fully vertical industry chain encompassing mold making, casting, and machining, with annual revenue exceeding 1.5 billion yuan. Its clients include globally renowned enterprises such as Garrett, Cummins, and BMW. In 2024, it established BYH New Technology Co., Ltd. in the AMATA Industrial Park (Phase II) in Chonburi, Thailand, covering an area of 80,000 m², specializing in precision casting and machining. The company has three major production sites in Wuxi, Anhui, and Thailand, achieving large-scale R&D and mass production. It possesses a fully vertical industry chain encompassing mold making, casting, and machining, with annual revenue exceeding 1.5 billion yuan. Its clients include globally renowned enterprises such as Garrett, Cummins, and BMW. In 2024, it established BYH New Technology Co., Ltd. in the AMATA Industrial Park (Phase II) in Chonburi, Thailand, covering an area of 80,000 m², specializing in precision casting and machining. Main Products Leveraging its mature processes, comprehensive quality control, and intelligent workshops, the company provides customized products and intelligent manufacturing solutions. It sincerely invites clients from all sectors to discuss cooperation and achieve win-win development! Leveraging its mature processes, comprehensive quality control, and intelligent workshops, the company provides customized products and intelligent manufacturing solutions. It sincerely invites clients from all sectors to discuss cooperation and achieve win-win development! Contact Contact Contact Us Wu Chaojun wuchaojun@smm.cn

"Tin" Leads the Future: Industrial Transformation and Value Reshaping in a New Cycle **Conference Background** Currently, the global tin industry stands at a historic turning point, where traditional cyclical logic has been fundamentally disrupted and strategic value has become fully prominent. The tin market in 2026 presents an unprecedented complex pattern and profound transformation: **I. Deep Restructuring of the Supply-Demand Pattern with Unprecedented Elevation of Strategic Attributes** The global static reserve-to-production ratio of tin resources is only 14 years, with scarcity becoming increasingly prominent. The supply side faces "triple pressures": repeated setbacks in Myanmar's production resumptions, continued tightening of Indonesian policies, and elevated geopolitical risks in the DRC — resource constraints have become the new normal. Meanwhile, the demand structure has undergone a fundamental shift, and tin has become a strategic resource connecting traditional manufacturing with the digital future. **II. Price System Breaking Historical Records with the Industrial Ecosystem Facing Reshaping** In early 2026, SHFE tin prices broke through 470,000 yuan/mt, hitting a record high. This price breakthrough is not only a reflection of supply-demand imbalance but also a hallmark of value reassessment for the tin industry. Traditional trade models, risk management systems, and supply chain collaboration approaches all urgently require innovative breakthroughs. **III. Technology-Driven and Green Transformation Fostering a New Symbiotic Ecosystem** Digital and intelligent technologies are deeply empowering the tin industry chain. The global green transformation requires the tin industry to upgrade toward low-carbonisation and circular economy models, making recycled tin recovery and green smelting processes an inevitable path. All segments of the industry chain must shift from competition to collaboration, building an open, resilient, and innovative symbiotic system. Against this backdrop, the 2026 SMM (16th) Tin Industry Chain Conference , to be held on August 19-21 in Changsha, Hunan , will bring together global industry elites for in-depth discussions. Dongguan Tenghui Tin Co., Ltd. will attend this grand event, joining industry peers to explore industry development trends and work together to propel the tin industry to new heights. Click the to register now. Join us in witnessing and participating in this extraordinary and far-reaching industry event, and together create a brilliant new chapter! Founded in 2009, Tenghui Tin is located in Dongguan, Guangdong Province. Since its establishment, the company has been dedicated to refined production and deep processing in the solder tin industry. With high-quality products, outstanding reputation, and excellent services, it has earned widespread industry recognition and has grown into a reliable and trusted producer in the industry. Tenghui Tin boasts a professional management team and production team, and has established long-term, stable cooperative relationships with suppliers across the country. The company adheres to reasonable pricing, trustworthiness, and contract compliance, winning the trust of a broad client base. We possess the most comprehensive production equipment and process flows in the industry, with daily refined tin output reaching 30 mt. We are equipped with advanced detection equipment such as desktop Spectro direct-reading spectrometers and handheld spectral guns, enabling us to provide clients with professional detection services. In terms of corporate culture, Tenghui Tin Industry upholds the mission of "cooperating with sincerity, operating with integrity, pursuing excellence in business, dedicating to environmental protection, and becoming China's most professional non-ferrous metal resource recycling enterprise." We pursue excellence, value every detail, and are committed to providing clients with satisfactory value-added services and high-grade products. Every employee of the company understands that clients are the source of our livelihood, and their attention and patronage are the greatest reward for us. We advocate integrity, innovation, quality, and service, always centering on clients. Through continuously improving our technical capabilities and service quality, we strive to provide clients with the best solutions. Tenghui Tin Industry is not merely a producer, but also a socially responsible enterprise. We are dedicated to environmental protection and hope to make positive contributions to society and the environment through our efforts. Whenever you need, just one supply call and we will come to serve you in the shortest time possible. We welcome all organizations, companies, enterprises, and individuals to come and discuss cooperation and inquire about prices. We look forward to joining hands with you to create a bright future together. Main business: Production and sales of national standard white board refined tin, foil tin, 305 tin materials, standard-compliant tin-copper, 0307 tin materials, 63/37 tin materials, national standard silver board, and other products. Contact Information Liao Huaiqing 13714200395 Liao Guoxiong 13828701483 Long press to scan the code and register now 2026 SMM (16th) Tin Industry Chain Conference

Persistent weakness in downstream demand dragged the tungsten market lower. As of May 19, the average price of wolframite concentrates (≥65%) was quoted at 445,500 yuan/standard tonne (65%WO3 basis). The current price has not only completely erased all gains accumulated within the year but also pulled back from the year-end 2025 price. Moreover, in just over two months, the average price has fallen 57.59% from its intra-year historical high. End-users have adopted a cautious purchasing stance, with weak demand transmitting upstream level by level, continuously exerting significant downward pressure on raw material prices. Under such circumstances, how will tungsten prices perform going forward? Wolframite Concentrates Continue to Decline, with All Intra-Year Gains Fully Retraced According to SMM quotations, on May 19, the quotation range for wolframite concentrates (≥65%) was 445,000–446,000 yuan/standard tonne (65%WO3 basis), with a market average price of 445,500 yuan/standard tonne (65%WO3 basis), down 3.26% from the previous trading day. In a horizontal comparison, the current average price pulled back 8,000 yuan/standard tonne (65%WO3 basis) from the average of 453,500 yuan/standard tonne (65%WO3 basis) on December 31, 2025, with all previously accumulated gains within the year fully retraced. Looking at the intra-year price trend, the current price has significantly departed from its highs. Compared to the intra-year historical average high of 1,050,500 yuan/standard tonne (65%WO3 basis) recorded on March 16 this year, the average price of wolframite concentrates has cumulatively plunged 605,000 yuan/standard tonne (65%WO3 basis) in just over two months, a cumulative decline of 57.59%, representing a highly significant pullback. Outlook Overall, there are currently no substantive positive factors underpinning the market. Downstream mainstream consumers such as cemented carbide and machining enterprises have adopted a conservative purchasing mindset, generally adhering to a strategy of "purchasing as needed and strictly controlling inventory," with overall end-use demand remaining persistently weak. Sluggish demand has directly dragged down upstream smelting-stage demand for products such as APT and tungsten powder, with operational pressure transmitting upstream level by level, continuously suppressing tungsten concentrates raw material prices. Even if mining controls remain stringent going forward and the commissioning progress of low-grade tungsten mines falls short of market expectations, the support from the supply side remains limited and is unlikely to offset the downward pressure brought by weak end-use demand. In the short term, the market lacks sufficient momentum to support a strong price rebound. Tungsten product prices are expected to move sideways amid the interplay between weak demand and low raw material costs. Close attention should be paid to subsequent long-term contract pricing by major tungsten enterprises for guidance on tungsten prices. From a medium and long-term perspective, China's primary tungsten ore mining scale and production are still expected to continue their YoY declining trend. However, during the previous tungsten price surge cycle, the terminal tungsten consumption structure underwent deep optimization, with tungsten consumption in low-value-added sectors gradually being cleared; coupled with the cemented carbide industry's continuous quality upgrades, extended tool service life, and accelerated transition toward high-end products, multiple factors have resulted in China's actual tungsten consumption volume falling short of earlier market expectations. Against this backdrop, the tungsten industry's supply-demand pattern has undergone a fundamental shift—from the previous logic of price increases driven by mine-side supply contraction, it has officially transitioned to a new pattern of "demand-led, structure-priced, cost-supported, and expectations-driven."

[Tongding Interconnection: Q1 performance mainly driven by optoelectronic communication and security business segments] Tongding Interconnection stated at its earnings briefing that the company's main performance in Q1 2026 was driven by the optoelectronic communication business segment and the security business segment. The company will continue to focus on its core businesses including optical fiber and cable, power cable, and communication cable, while continuously improving quality and efficiency. Meanwhile, it will vigorously develop new business segments represented by energy storage and security, cultivating new profit growth drivers. The company is currently not engaged in optical module business.

[SMM Analysis]Unwrought Aluminum Alloy Exports Surged 180% YoY in April, Imports Clearly Under Pressure

Recently, Yunnan Yuntianhua Co., Ltd. issued an announcement disclosing that its investee subsidiary, Yunnan Yuntianhua Julin New Materials Co., Ltd., plans to invest in the construction of the Wanchang phosphate mine mining project with a capacity of 10 million tons per year. The total estimated investment for the project is approximately 8.169 billion yuan. Yuntianhua will fulfill its capital contribution obligations according to its 35% shareholding ratio, with a subscribed capital contribution of 700 million yuan, of which 455 million yuan has been actually paid as of the announcement date. Its main construction content includes an underground mining project with a capacity of 10 million tons per year and supporting auxiliary facilities.