Core Viewpoint - Shenghe Resources reported significant growth in its Q3 2025 financial results, with a revenue of 10.456 billion yuan, a year-on-year increase of 26.87%, and a net profit of 788 million yuan, a remarkable increase of 748.07% [1][2] Financial Performance - For the first three quarters of 2025, Shenghe Resources achieved a total revenue of 10.456 billion yuan, reflecting a year-on-year growth of 26.87%, while net profit reached 788 million yuan, marking a staggering increase of 748.07% [1][2] - In Q3 alone, the company experienced a revenue growth of 52.59% year-on-year and a net profit growth of 154.48%, second only to the first quarter's growth of 178.09% [2][3] - The increase in revenue and profit is attributed to rising prices of rare earth products, capacity release, and effective cost control, leading to a significant improvement in gross profit margins [1][2] Market Dynamics - The price of major rare earth products has seen substantial increases, with the price of rare earth concentrate rising to 26,205 yuan per ton, a 37.13% increase from the previous quarter [2] - The sales volume of rare earth oxides increased by 9.5%, while the sales volume of rare metals surged by 37.71% [3] Strategic Developments - Shenghe Resources is enhancing its global resource matrix by acquiring the Australian Peak company, which includes the development rights to the world-class Ngualla rare earth mine [4][5] - The Ngualla mine is noted for its large scale, high grade, and low cost, with a total rare earth reserve of 18.5 million tons and an average grade of 4.8% [5] Capacity Expansion - The company is also upgrading its Tanzanian Fungoni project to increase production capacity to 150,000 tons per year, with completion expected by the end of the year [5] - The production of rare earth oxides and metals has been steadily increasing, with production growth rates of 18.74% and 19.82% respectively in Q3 [3] Investor Interest - The strong performance of Shenghe Resources has attracted attention from public fund managers, with significant increases in holdings in the company by various ETFs [6]

作为国内稀土领域的重要企业，盛和资源主要产品包括稀土精矿、稀土氧化物、稀土盐、稀土金属、锆 英砂等，广泛应用于新能源、军工、电子信息等领域。公司经营活动遍及亚洲、美洲、欧洲、澳洲和非 洲，国际合作项目包括美国芒廷帕斯稀土矿、坦桑尼亚恩古拉稀土矿、格陵兰科瓦内湾稀土多金属矿 等。 从主要经营数据来看，公司今年第三季度稀土氧化物销售量为4340.89吨，同比增长9.50%；稀土稀有金 属销售量为5806.35吨，同比增长37.71%；锆英砂销售量为1.1万吨，同比增长18.31%；钛矿(含金红石) 销售量为2.64万吨，同比增长170%；稀土盐类销售量为2353.28吨，同比下降59.22%；稀土精矿(含独居 石)为3205.26吨，同比下降60.77%。 在业务扩张与项目推进方面，截至报告期末，公司全资子公司乐山盛和稀土有限公司年产1.5万吨高性 能稀土抛光粉项目一期工程按计划正常推进，已完成总进度的63%，预计将于2026年一季度末投产。 10月30日晚间，盛和资源（600392）披露2025年第三季度报告。公司前三季度实现营业收入104.56亿 元，同比增长26.87%；实现归母净利润7.88亿元，同比增长 ...