Rising Nonferrous Metals Share Co Ltd

China Rare Nonferrous Metals released its 2026 interim report. Total operating revenue was 2.506 billion yuan, and net profit attributable to the parent company was 403 million yuan, an increase of 331 million yuan from the same period last year, marking a second consecutive year of growth and a year-on-year rise of 456.51%. Net cash flow from operating activities was negative 176 million yuan. The asset-liability ratio was 52.18%, down 0.55 percentage points from the same period last year. Gross margin was 11.75%, up 4.53 percentage points from the previous quarter, rising for nine consecutive quarters, and up 7.17 percentage points from the same period last year. Return on equity was 10.49%, ranking fourth among peers, up 8.38 percentage points from the same period last year. Diluted earnings per share were 1.20 yuan, ranking third, up 445.45% year on year. Total asset turnover was 0.33 times, and inventory turnover was 1.25 times, up 0.69% year on year. The number of shareholders was 53,500, and the top ten shareholders held 45.53% of total share capital.

China Rare Earth Nonferrous Metals announced that it expects net profit attributable to shareholders of the listed company for the first half of 2026 to be between 370 million and 430 million yuan, representing a year-on-year increase of 410% to 493%. The change in performance is mainly due to a year-on-year rise in rare earth product prices, the company's enhancement of its core business value through innovative operating models, significant results in loss-making enterprise governance, and an increase in investment income from associates.

The board of China Rare Earth Nonferrous has approved the project proposal for the research and development of high-end new rare earth functional materials and the construction of a pilot line. The company plans to use its own funds of 19.5 million yuan to build two pilot demonstration lines for high-performance rare earth powder materials for special fields in Guangzhou. The project is expected to take two years, with an annual output of 20 tonnes upon completion, aiming to tackle key material technologies in the high-end equipment sector.