Northern Rare Earth parent completes planned share increase

China Northern Rare Earth Group High-Tech (SSE:600111) announced that its controlling shareholder, Baogang (Group) Co., Ltd., has completed its previously announced plan to increase its stake in the company. Between March 17, 2025, and March 31, 2025, Baogang (Group) acquired 43,099,222 shares through the Shanghai Stock Exchange's trading system, representing 1.19% of the company's total share capital. The total investment in this increase amounted to CNY 999,890,363.04 (excluding transaction costs). Following the completion of this share purchase, Baogang (Group) Co., Ltd. now holds 1,374,799,791 shares in China Northern Rare Earth Group High-Tech, representing 38.03% of the total share capital. The funding for this acquisition came from bank loans provided by the Baotou Lucheng branch of the Agricultural Bank of China and Baogang (Group)'s own funds.