China Minmetals Rare Earth reports profit decline, share transfer

China Minmetals Rare Earth (SZSE:000831) reported a significant 24.09% year-over-year decline in revenue, posting CNY3.03 billion for 2024, with net losses reaching CNY286.91 million, due to increased expenses and decreased rare earth prices, as declared by the company's Annual Audit Report.. This financial downturn has led to its parent company, China Minmetals Group, transferring CNY100.59 million shares (9.48% stake) to China Rare Earth in an effort to stabalize the entity, as per reports in the Notice of Share Transfer to Promote Stakeholders.