In 2024, China Rare Earth reported revenue of 3.027 billion yuan, down 24.09% year-on-year; net profit attributable to shareholders was -287 million yuan, a decline of 168.69% year-on-year; non-recurring profit-adjusted net profit was 145 million yuan, down 158.65% year-on-year; net cash flow from operating activities was 594 million yuan, down 271.65% year-on-year; basic earnings per share were -0.27 yuan, down 163.94% year-on-year; total assets at the end of the reporting period were 5.486 billion yuan, down 0.92% year-on-year; and equity attributable to shareholders was 4.643 billion yuan, down 4.39% year-on-year.
China Rare Earth is primarily engaged in rare earth resource development, smelting and separation, deep processing, and import/export trade of rare earth products. The company integrates both heavy and light rare earths, with heavy rare earth resources mainly distributed across six provinces (autonomous regions): Jiangxi, Guangxi, Guangdong, Hunan, Fujian, and Yunnan, and light rare earth resources primarily located in Sichuan and Shandong. Its business scope includes rare earth oxides, rare earth metals, and the operation and trade of rare earth deep-processed products.
According to CTIA GROUP LTD, the overall performance of China’s rare earth market in 2024 was weak. Against the backdrop of increased rare earth raw material supply and prolonged sluggish downstream demand, mainstream rare earth product prices experienced a certain degree of decline, with actual transaction volumes falling short of expectations. In 2024, praseodymium oxide prices dropped by approximately 9.57%; neodymium oxide prices fell by about 10.99%; praseodymium-neodymium oxide prices decreased by around 11.11%; praseodymium-neodymium metal prices declined by about 8.89%; terbium oxide prices dropped by approximately 26.45%; dysprosium oxide prices fell by about 36.86%; and dysprosium-iron alloy prices decreased by around 35.71%.
In 2024, the average price of praseodymium oxide in China was approximately 403,100 yuan/ton, down 25.04% year-on-year; neodymium oxide averaged around 401,200 yuan/ton, down 27.61% year-on-year; praseodymium-neodymium oxide averaged about 393,500 yuan/ton, down 25.72% year-on-year; praseodymium-neodymium metal averaged around 487,400 yuan/ton, down 24.66% year-on-year; terbium oxide averaged about 5,786 yuan/kg, down 36.69% year-on-year; dysprosium oxide averaged around 1.842 million yuan/ton, down 21.20% year-on-year; and dysprosium-iron alloy averaged around 1.842 million yuan/ton, down 21.20% year-on-year.
