Core Viewpoint - The rare earth industry is experiencing significant growth, with Shenghe Resources reporting a substantial increase in revenue and profit for the first half of 2025, driven by favorable market conditions and effective management strategies [2]. Financial Performance - Shenghe Resources achieved an operating revenue of 6.179 billion yuan, representing a year-on-year increase of 13.62% - The net profit attributable to shareholders reached 377 million yuan, a remarkable year-on-year growth of 650.09% - The non-recurring net profit was 364 million yuan, reflecting a year-on-year increase of 615.47% - The company plans to distribute a cash dividend of 0.05 yuan per share (before tax) [2]. Market Dynamics - The prices of major rare earth products have increased year-on-year due to changes in market supply and demand dynamics - The company capitalized on market opportunities by optimizing production and marketing strategies, which contributed to the turnaround from losses to profits [2]. Regulatory Environment - China has implemented a quota system for rare earth resource development, with domestic supply determined by these quotas - In April 2025, the Ministry of Commerce and the General Administration of Customs announced export control measures on seven types of medium and heavy rare earth elements, effective immediately [3]. - In August 2025, the Ministry of Industry and Information Technology released interim measures for the total quantity control of rare earth mining and smelting, marking a new phase in the management of this strategic resource [3]. Company Operations - Shenghe Resources has established a comprehensive industrial chain for rare earths, from mining to deep processing, with both domestic and international operations - The company has stakes in various rare earth mining companies in China and abroad, including significant holdings in U.S. and Australian firms [3]. - The company is in the process of acquiring 100% of Peak Rare Earths [4]. Production and Projects - Shenghe Resources operates rare earth smelting and separation bases in Sichuan, Jiangxi, Shandong, and Jiangsu, utilizing different raw materials based on regional availability - The company is advancing its long-term development project at the Ngualla rare earth mine in Tanzania and is working on the acquisition of Peak Rare Earths [4]. - The Fungoni project in Tanzania has produced nearly 20,000 tons of ore since its launch, with expectations to reach a design capacity of 100,000 tons per year by September [4]. Technological Advancements - The company is enhancing production quality and efficiency through process optimization, new product development, and digital transformation - Recent upgrades in production lines have significantly improved yield rates and economic benefits, particularly in the recovery of rare earth elements from waste [5].

华夏时报（www.chinatimes.net.cn）记者 董红艳 北京报道 亚振家居(603389.SH)的"披星戴帽"并未对其股价形成压力。5月19日开盘，*ST亚振再度涨停，9.96元/股，涨幅 4.95%，连续10个交易日涨停，累计涨幅62.75%。有股民评价称："（股价）ST比没ST时还猛！" 4月份，*ST亚振的股价也曾出现大幅上涨，结合上涨之后公布的控制权变更计划，市场上产生了"内幕交易"的质 疑声。不过，亚振家居方面向《华夏时报》记者对此进行了否认。 对于*ST亚振股价的频繁大幅波动，分析人士向《华夏时报》记者指出，从基本面恶化倒逼控制权尝试变更，到 小市值特征吸引投机资金，再到概念炒作放大波动，亚振家居的股价异动是多重问题和矛盾的连锁反应。这一连 串的反应在面临退市压力的小盘股中具有一定的典型性。 值得关注的是，随着*ST亚振股权转让的推进，新东家吴涛逐渐走进公众视野。而这位矿业大亨曾在资本市场因 为对游久游戏的操作，引发大量关注。这也引得投资者对于*ST亚振本次易主想象颇丰。 股价上演疯狂十连板 而值得关注的是，被实施了退市风险警示后，*ST亚振的股价却反常表现得"极为兴奋"。交易数据显示 ...