China Northern Rare Earth
ConvictionContext
Vertically integrated: sources rare earth concentrate (Bayan Obo feedstock via parent Baotou Steel), refines into salts/oxides/metals, and manufactures downstream functional materials (NdFeB magnetic, polishing, hydrogen-storage, catalytic) plus end-application products (permanent-magnet motors). Volume and pricing heavily shaped by state-set mining/smelting quotas.
Revenue
~$6.3B USD TTMCNY 45.13B TTM to Q1 2026); FY2025 CNY 42.56B (~$5.9B USDRev growth
+29.1% FY2025 YoY+23.7% TTM YoY; +27.7% Q1 2026 YoYGross margin
not precisely disclosedin accessible filings; company cites a YoY rise in gross margin as a driver of Q1 2026 profit — price-cycle dependentOp margin
not precisely disclosednet margin ~5.3% FY2025 / ~6.1% TTM implies thin single-digit operating marginCapex intensity
not disclosedMarket cap
~$23.9B USDCNY 171.75B, Shanghai Stock Exchange: 600111; last verified late-June/early-July 2026The read
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Full financial intelligence for China Northern Rare Earth
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07; price/market cap as of 2026-07 (last verified quote CNY 47.6 / mkt cap CNY 171.75B, late-June/early-July 2026), FY2025 annual results, Q1 2026 (ended 2026-03-31) interim, 2026 company targets· sign in (free) for the analyst summary; Pro unlocks full intelligence