China Northern Rare Earth Group High-Tech Co Ltd: Segment Analysis

China Northern Rare Earth Group High-Tech Co Ltd (Northern Rare Earth) manufactures and distributes refined rare earth mining products. The company’s product portfolio includes rare earth oxide, rare earth metals, rare earth concentrate, and magnetic materials. The company also produces polishing powder, applications for aerospace communications and hydrogen storage material.

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Northern Rare Earth has developed a comprehensive research and development system aligned with its development needs, enabling the accumulation of substantial rare earth scientific and technological expertise. The company operates multiple national-level innovation and service platforms, including enterprise technology centers, academician and postdoctoral workstations, and provincial-level science and technology innovation centers. The company's Rare Earth Research Institute is the world's largest comprehensive rare earth research and development institution, leading in domestic and international rare earth basic research and new product development. The company has established a "one-center" system and a "Three Bases" science and technology innovation framework to strengthen organization, coordination, and management of its national-level enterprise technology center, enhancing collaboration with advanced enterprises, universities, and research institutes. The company has various national and autonomous region-level key laboratories, technology innovation centers, and industrial parks. The Engineering Research Center is also a significant part of the company's R&D structure, focusing on basic research, new product development, and the promotion and application of new technologies. The company operates 9 national-level innovation and service platforms, 2 nationally recognized enterprise technology centers, 1 academician workstation, 2 postdoctoral workstations, and 16 research platforms. In FY2024, the company reported R&D expenses of CNY299,901.6 million, which grew 23.1% YoY.