Northern Rare Earth sees profits surge nearly 2,000% in strong first half

China Northern Rare Earth Group High-Tech announced significant growth for the first half of 2025, with revenue increasing by 45.24% to 18.87 bn yuan, and net profit attributable to shareholders surging by 1,951.52% to 931.31 m yuan. This growth was primarily driven by increased sales volumes and rising prices of rare earth products, particularly praseodymium-neodymium. The company's total assets grew by 4.27% to 47.32 bn yuan, while net assets attributable to shareholders rose by 3.71% to 23.26 bn yuan.

Key operating data for Q2 2025 showed varied performance across product categories, with rare earth oxides production up 225.00% to 9,430.15 tonnes. Rare earth metals production increased by 8.40% to 12,046.05 tonnes, and sales rose by 20.38% to 11,068.01 tonnes. Magnetic materials production and sales saw increases of 12.08% and 11.35%, respectively. The company also confirmed that it will not distribute profits or convert capital reserves for 2024.

The board of directors approved the half-year report and a risk assessment report for Baogang Group Finance Co. Ltd., with independent directors confirming the finance company’s sound operations and compliance. Additionally, resolutions were passed regarding the 2025 performance evaluation scheme and the 2024 annual salary realization plan for the management team.