----Interview with Jun Wu
Deputy General Manager
Guangxi Yusheng Germanium Hi-Tech Co., Ltd.
Guangxi Yusheng Germanium Hi-Tech Co., Ltd. is a rare and precious metal smelting and deep-processing enterprise introduced by the Hechi Municipal Party Committee and Government as part of their strategic plan to develop the rare and minor metals industry and optimize the local business environment.The company has been recognized as a National High-Tech Enterprise, a Specialized and Sophisticated Enterprise, a Guangxi Excellent Enterprise, and has also received the National Workers’ Pioneer Award. Yusheng Germanium is now advancing rapidly toward group-based and international development. The company currently operates 10 subsidiaries (including holding companies), owns five mining areas and three ore dressing plants, and employs approximately 1,200 staff members. It has established a comprehensive industrial system integrating resource mining, metal smelting, and technological innovation.
Asian Metal: Mr. Wu, welcome to our interview. Could you please give us a brief introduction to your company and its main business?
Mr. Wu: Our company was founded in July 2016. The Phase I zinc plant covers an area of about 400 mu (around 26.7 hectares). Our main products include zinc ingots, lead ingots, antimony ingots, high-purity germanium dioxide, zone-refined germanium ingots, silver, copper, and bismuth, along with other valuable metals and by-products. We have an annual germanium capacity of 50t, with a production target of over 40t this year. The company has been listed among the “Top 100 Manufacturing Enterprises in Guangxi” for two consecutive years (2024 and 2025), and our output value is expected to reach RMB 2.4 billion in 2025.
Asian Metal: What are the main competitive advantages of your germanium products in today’s market?
Mr. Wu: According to public research, global germanium production reached about 140t in 2024, with China accounting for 95t, or 68%. In 2025, the global total is expected to reach 145t, of which China will contribute around 101t, accounting for 70%. Our high-purity germanium production line is operating steadily, and output is expected to exceed 40t in 2025. Our 7N-grade high-purity germanium products are of stable quality and have gained strong recognition from downstream clients, enabling us to achieve large-scale supply. Our germanium capacity ranks among the top in China.
Asian Metal: Could you share an overview of the sources and distribution of germanium raw materials in China?
Mr. Wu: In China, germanium resources exist mainly as associated and companion minerals, meaning they are typically recovered during the extraction of other primary ores. They are mainly derived from germanium-bearing medium- to low-temperature lead-zinc deposits and germanium-bearing coal deposits. Meanwhile, recycling technologies for extracting germanium from waste—such as optical fiber production residues, discarded infrared germanium lenses, and electronic components—have become increasingly mature, improving the comprehensive utilization of resources. At present, our company owns ten mines located in Guangxi, Guizhou, and Xinjiang, with a self-sufficiency rate of about 70%.
Asian Metal: How do you view the price movements of germanium over the past three quarters? What is the current demand situation?
Mr. Wu: Overall, germanium prices have been rising steadily this year. As an important strategic rare metal, germanium plays an irreplaceable role in high-tech sectors such as optical fiber communication, infrared optics, and solar cells. With the continued development of domestic and global industries, I believe the demand for germanium will keep increasing.
Asian Metal: What is your outlook for germanium prices in the fourth quarter of 2025? What key factors will influence the market?
Mr. Wu: In my opinion, both germanium production and prices will continue to rise in the fourth quarter, driven by supply-demand dynamics. The market will mainly be influenced by supply rigidity, demand structure, and macroeconomic conditions. Supply constraints and export policies will set the price floor, while robust demand from advanced technology sectors will define the ceiling.
Asian Metal: What is your current sales strategy in the domestic market? Are there any plans to expand overseas?
Mr. Wu: At present, our germanium ingots and high-purity germanium dioxide are mainly supplied to domestic high-tech enterprises with deep-processing capabilities. In addition to sales, we are actively exploring potential cooperation with these companies to build long-term partnerships and create opportunities for industrial synergy and market expansion. For now, we have no plans to explore overseas markets.
Asian Metal: What are your future plans for product development and deep processing?
Mr. Wu: We will leverage our production capacity and technological advantages in high-purity indium, gallium, and germanium to strengthen cooperation with leading downstream enterprises in the rare and minor metals industry. By extending the industrial chain toward high-value metal materials and applications, we aim to build a comprehensive industrial system centered on high-purity rare metals.
Asian Metal: Thank you, Mr. Wu, for sharing your valuable insights. We also look forward to welcoming Yusheng Germanium as a sponsor of the 18th International Indium, Bismuth, Germanium & Gallium Forum, to be held in Nanning, Guangxi in 2026. We wish your company continued success and prosperity.
Mr. Wu: Thank you for the invitation from Asian Metal.
