China Northern Rare Earth shareholder increases stake to 37%

China Northern Rare Earth Group High-Tech Co., Ltd. [SSE:600111] announced today that its controlling shareholder, Baogang Group, has increased its holdings in the company. The initial increase, executed on March 17, 2025, saw Baogang Group acquire 5,873,700 shares, representing 0.16% of the company's total share capital. The transaction amounted to RMB 137,512,438 (excluding transaction costs). Following the increase, Baogang Group's total shareholding in China Northern Rare Earth has risen from 36.84% to 37%. The move is part of Baogang Group's previously disclosed plan to increase its stake by between RMB 500 million and RMB 1 billion, funded by a bank loan and its own capital. Baogang Group retains the option to continue increasing its shareholding in the future, and the company assures that the action will not lead to changes in control.