China Northern Rare Earth (Group) High-Tech Co., Ltd. has issued a performance forecast indicating a substantial increase in its first-half financial results.
The company projects that its net profit attributable to shareholders for the first six months of the year will reach a range of 19.8 billion to 20.6 billion yuan, representing a year-on-year increase of between 112.74% and 121.33%.
This strong performance is attributed to optimized operational management and record production levels across its key product lines, including rare earth separation and smelting products, rare earth metals, and new rare earth materials, all of which hit historic highs for the period.
Furthermore, the company's subsidiary, Inner Mongolia Northern Rare Earth Magnetic Materials Co., Ltd., reported robust first-half revenue of approximately 95 billion yuan, a surge of about 107% compared to the same period last year, marking its third consecutive year of growth.
In a separate development, another subsidiary, Inner Mongolia Xi'aoke Hydrogen Storage Alloy Co., Ltd., has successfully launched its first batch of 1,000 hydrogen-powered two-wheelers into operation in Baotou City, which have collectively achieved a safe operational mileage of 170,000 kilometers, demonstrating significant progress in the pilot project.
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