China Northern Rare Earth High-Tech (600111) Q3 2025 earnings summary

Executive summary

• Achieved significant year-over-year growth in revenue and net profit for the first nine months of 2025, driven by higher product prices and increased sales volumes.

• Production and sales of key rare earth products reached record highs, with notable increases in output and sales of rare earth metals and functional materials.

• Advanced major projects, including new production lines and joint ventures, while accelerating R&D and innovation initiatives.

Financial highlights

• Operating revenue for Q3 2025 was RMB 11.43 billion, up 33.32% year-over-year; year-to-date revenue reached RMB 30.29 billion, up 40.50%.

• Net profit attributable to shareholders for Q3 was RMB 610 million, up 69.48% year-over-year; year-to-date net profit was RMB 1.54 billion, up 280.27%.

• Basic and diluted EPS for Q3 were RMB 0.1688, up 69.48% year-over-year; year-to-date EPS was RMB 0.4264, up 280.27%.

• Operating cash flow for the first nine months was RMB 2.73 billion, up 77.98% year-over-year.

Outlook and guidance

• Focus on market-driven production, cost reduction, and efficiency improvements to sustain growth.

• Continued emphasis on R&D, project construction, and product structure optimization to support long-term competitiveness.