Formal Notice of Drill Bit Price Adjustment​

Dear Valued Customers,

We hope this notice finds you well. First and foremost, we would like to express our sincere gratitude for your long-term trust and support in our drill bit products.

It is with regret that we inform you of a necessary adjustment to the prices of our drill bits, effective from this month. The primary reason for this price adjustment lies in the continuous and significant surge in the price of tungsten carbide—the core raw material of the cemented carbide used in our drill bits. Over recent months, the cost of tungsten carbide has risen sharply due to factors such as tightened global supply of tungsten ore, increased demand from key industries (including mining, new energy, and aerospace), and enhanced environmental and resource management policies. This dramatic increase in raw material costs has brought enormous pressure on our production and operation costs.

Notably, the price increase range of our drill bit products varies from 6% to 25%, and this differentiation is fully determined by the cost structure of each product. Specifically, products with higher tungsten carbide consumption (e.g., heavy-duty drill bits for hard rock) or those using high-grade tungsten carbide materials are subject to a relatively larger price adjustment, while products with lower raw material input (e.g., light-duty small-diameter drill bits) have a more moderate increase. This pricing adjustment principle—"cost determines the increase range"—ensures that our price changes are reasonable and transparent, rather than arbitrary.

For your specific needs, if you wish to obtain the latest quotation for any drill bit model or have questions about the price adjustment details, please do not hesitate to contact our team. Our sales representatives will promptly provide you with detailed pricing information and answer all your inquiries. We assure you that despite the price adjustment, we will continue to maintain the high quality of our drill bits, adhere to strict production standards, and provide you with reliable products and professional after-sales service as always.

Additionally, we would like to share a key market update with you: the price of tungsten carbide is still on an upward trend. As a result, the adjusted prices of our drill bits may not remain fixed, and further adjustments may be necessary in the future to align with ongoing raw material cost changes. To help you better control procurement costs and avoid potential additional expenses from subsequent price fluctuations, we kindly suggest that you arrange your purchase plans as early as possible if you have confirmed demand. Our team will fully support your procurement process to ensure timely delivery and meet your production needs.

We fully understand that this price adjustment may bring inconvenience to your procurement plans, and we sincerely apologize for this. We greatly value our cooperative relationship with you and are committed to working with you to mitigate the impact of this adjustment. Should you need further communication or have additional concerns, please feel free to reach out to our customer service team or your dedicated sales contact at any time.

Thank you for your understanding and continued support. We look forward to continuing our mutually beneficial cooperation with you in the future.

Best regards,

Qingdao Worldrill Co., Ltd

Sep.9, 2025