Northern Rare Earth's affiliate, Jinlong Rare Earth, lists on NEEQ

China Northern Rare Earth Group High-Tech (SSE:600111) announced that its equity-holding company, Fujian Jinlong Rare Earth, will list on the NEEQ starting February 28, 2025. Jinlong Rare Earth, a company specializing in rare earth compounds, luminescent materials, and magnetic alloys, will trade under the stock code 874673, using a call auction method on the NEEQ's base tier. As of the announcement, China Northern Rare Earth holds 74.25 million shares of Jinlong Rare Earth, representing a 3% stake. The listing is expected to improve Jinlong Rare Earth's financing capabilities and enhance the value of Northern Rare Earth's assets, aligning with the company’s development strategy without significantly impacting its financial condition or operating results.