中国稀土(000831) - 2024年11月12日投资者关系活动记录表

Group 1: Raw Material Supply and Procurement - The company completed the acquisition of Zhongxi Hunan in 2023, which has the largest ion-type rare earth mine in Jianghua, Hunan, to meet part of its raw material needs [1][2] - The company utilizes market principles for raw material procurement and has successfully diversified its domestic and international sourcing channels to ensure stable supply for its separation enterprises [2] - In 2023, the actual controller, China Rare Earth Group, completed the integration of medium and heavy rare earth resources in China, enhancing the stability of raw material supply for production [2] Group 2: Mining and Separation Quotas - The Ministry of Industry and Information Technology issued the second batch of rare earth mining and separation quotas for 2024, with the company receiving quotas of 2,384 tons (REO) for mining and 5,000 tons (REO) for separation [2] - The company is actively adapting to policy changes and market fluctuations, ensuring stable operations through advance raw material reserves and inventory adjustments [2] Group 3: Market Demand and Pricing Trends - Rare earths are essential in modern industry, with applications in manufacturing, emerging industries, and green energy, leading to new demand in sectors like energy-efficient motors and humanoid robots [3] - In 2024, rare earth product prices experienced a downward trend in Q1, followed by fluctuations at lower levels in Q2 and Q3, with some recovery in Q4 due to improved supply-demand dynamics [3] Group 4: Competitive Landscape and Strategic Commitments - The actual controller, China Rare Earth Group, issued a commitment on January 18, 2022, to avoid competition with Minmetals Rare Earth Co., Ltd., planning to resolve competition through management delegation, asset restructuring, and business adjustments over five years [3] - The company aims to leverage its position as a core listed platform for China Rare Earth Group to promote high-quality development and actively participate in industry consolidation and green transformation [3] Group 5: Pricing Mechanism - The pricing of the company's rare earth products is based on an internal pricing table, market prices from major rare earth portals, and actual transaction prices, considering market trends [3]