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Northern Rare Earth (600111): 24Q1 performance is under pressure, and the company's profit inflection point can be expected
Net profit attributable to mother decreased by -94.35% year on year in 24Q1. Maintaining increased holdings, the rating company achieved revenue of 5.762 billion yuan (yoy -37.59%, qoq -32.80%) in Q1 of 2024, and net profit of 5
Express News | Northern rare earths: net profit for the first quarter of 2024 fell 94.35% year on year
Northern Rare Earth (600111): Current industry performance plummeted in Q1, focus on the company's volume in the second half of the year
Core view: Q1 net profit of 52 million yuan to mother. According to the company's quarterly report, 24Q1 achieved operating income of 5.762 billion yuan, a year-on-year decrease of 37.59% and a month-on-month decrease of 32.80%; net profit to mother of 0.5
Northern rare earths: Recently, the rare earth market price has risen by about 10%, and the company's upstream raw materials industry production line is producing at full capacity
At the 2023 Shanghai Main Board Traditional Industry Group Performance Briefing held this afternoon, Qu Yedong, general manager of Northern Rare Earths, said in response to investors' questions, “Due to market supply and demand, product prices in the rare earth market have recently rebounded at a low level, fluctuating slightly upward, with an increase of around 10%. In addition to new production lines under construction or commissioning, the company's upstream raw materials industry production lines are at full capacity. The downstream functional materials industry is affected by market factors, and the capacity utilization rate is lower than that of the raw materials industry.”
Express News | Northern Rare Earths established a renewable resources subsidiary with 100 million yuan
Northern Rare Earths (600111): Falling rare earth prices dragged down performance, year-on-year improvement in asset impairment losses throughout the year
Incident: The company achieved operating income of 33.497 billion yuan in 2023, a year-on-year decrease of 10.1%; realized net profit attributable to shareholders of listed companies of 2,371 billion yuan, a year-on-year decrease of 60.38%. Distribution per 10 shares
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