暴增56倍！1700亿稀土牛股，中报来了

Core Viewpoint - Northern Rare Earth's net profit for the first half of 2025 increased significantly, with a non-recurring net profit growth of 5645% and a net profit growth of 1951% compared to the previous year [1][2]. Financial Performance - The company's operating revenue reached 18.866 billion yuan, a year-on-year increase of 45.24% [1][3]. - The net profit was 931 million yuan, showing a year-on-year increase of 1951% [1][3]. - The non-recurring net profit was 897 million yuan, with an astonishing growth rate of 5645% year-on-year [1][3]. - Compared to the highs of 2021 and 2022, the current performance is still below those levels [2]. Market Dynamics - The increase in operating revenue is attributed to higher sales volumes of key rare earth products, particularly praseodymium and neodymium, along with rising average prices since the beginning of the year [2]. - The overall rare earth market is experiencing a recovery, supported by stable domestic demand despite international trade challenges [4]. Price Trends - Rare earth product prices have been on the rise, with praseodymium-neodymium oxide prices increasing from 435,000 yuan per ton in early July to 622,000 yuan per ton by August 25, marking an increase of over 40% [4]. Company Background - Northern Rare Earth, established in 1961, is a subsidiary of Baotou Steel Group and is recognized as the origin of China's rare earth industry [5]. - The company benefits from exclusive mining rights to the Baiyun Obo mine, which provides a stable supply of rare earth concentrates for its operations [5]. Stock Performance - The company's stock price has seen significant increases, with a 50.6% rise in July and a 31% increase in August, totaling nearly a 100% increase over the past two months [5]. - The current market capitalization of the company is 177.5 billion yuan [5].