China Northern Rare Earth (Group) High-tech Co in Baotou, North China's Inner Mongolia autonomous region, announced on Aug 27 that it achieved an operating revenue of 18.87 billion yuan ($2.65 million) in the first half of the year, a year-on-year increase of 45.24 percent. It also established a complete industrial chain that includes rare earth smelting and separation, functional materials, and terminal applications. 

During this period, the company's revenue, profit, output value, and market value remained the highest in the industry. Its production of rare earth metal products and functional materials production increased by 28.1 percent and 16.65 percent year-on-year, respectively.

The company innovated through strengthening marketing models, resulting in a 32.33 percent year-on-year increase in sales of rare earth metal products and a 17.93 percent year-on-year increase in sales of rare earth functional materials.

The company continued to accelerate the construction of key projects, with several projects entering the commissioning or production phase, and the expansion of downstream functional materials and terminal applications achieving significant results.

Northern Rare Earth advanced State-owned enterprise reforms, disclosing its annual ESG report for the third consecutive year and releasing an English version for the first time. Its ESG ratings were upgraded by major institutions such as the China Securities Index Co, while its stock was selected for inclusion in the CSI A50 Index for the first time.