Northern Rare Earth's Q1 profit soars on price surge

China Northern Rare Earth Group High-Tech (SSE:600111) announced a substantial increase in net profit attributable to shareholders for the first quarter of 2025, reaching CNY 430.63 million, a 727.30% increase compared to the same period last year. Revenues increased by 61.19% to CNY 9.29 billion, driven by higher average prices for praseodymium and neodymium products, the company said. Operating cash flow surged to CNY 410.13 million, compared to outflows of CNY 151.26 million in Q1 2024. The company emphasized proactive management, efficiency improvements, and strategic pricing initiatives. Total assets were reported at CNY 46.23 billion. 包钢 (Baotou Iron and Steel) increased its stake during the quarter, holding 38.03% of the company. The company cautions that data remains internal and unaudited.