北方稀土业绩说明会：着力延伸产业链 做专做特稀土终端应用产业

Core Viewpoint - North Rare Earth's significant growth in Q1 2025 highlights the company's leading position in the rare earth industry, driven by strong revenue and profit increases, supported by national policies and technological innovations [2][3]. Company Performance - In Q1 2025, North Rare Earth achieved operating revenue of 9.287 billion yuan, a year-on-year increase of 61.19% [2]. - The net profit attributable to shareholders reached 431 million yuan, reflecting a remarkable year-on-year growth of 727.30% [2]. - The net profit excluding non-recurring gains and losses was 435 million yuan, showing an extraordinary year-on-year increase of 11622.98% [2]. Industry Outlook - The overall profitability of rare earth listed companies has improved, with North Rare Earth maintaining a leading position in the industry [2]. - The national strategic planning for rare earth resources and continuous technological innovation are expected to support steady growth in upstream supply, promoting healthy and stable development across the rare earth industry [2][3]. - The integration of production, education, and research, along with effective technology transfer, is anticipated to drive high-quality development in the rare earth sector [3]. Future Development Strategy - North Rare Earth aims to strengthen its leading advantage in rare earth resources and expand its raw material industry [3]. - The company plans to enhance its supply capabilities in rare earth functional materials, focusing on magnetic, polishing, hydrogen storage, and alloy materials [3]. - There is a commitment to extend the industrial chain and specialize in rare earth end-use applications, thereby increasing market competitiveness and revenue contribution [3].