Northern Rare Earth: Parent raises stake to 38%

Baogang Group, the controlling shareholder of China Northern Rare Earth Group High-Tech, has increased its ownership stake to 38% of the company's total share capital. This move follows Baogang Group's previously disclosed plan to increase its holdings, with the intention of bolstering investor confidence and supporting the company's long-term value. Since the initial purchase on March 17, 2025, Baogang Group has continued to acquire shares via the Shanghai Stock Exchange. From March 18 to March 28, Baogang Group purchased an additional 36,150,722 shares, representing 1% of the company's total share capital, bringing the total shares held to 1,373,724,991. The total expenditure from the initial purchase through March 28 was 975,322,968.04 yuan (excluding transaction costs). Baogang Group stated that it will continue to implement the shareholding plan, purchasing shares at its discretion.