China Northern Rare Earth (600111.SH) issued a profit warning, expecting a net profit of 950 million to 1.08 billion yuan for the fiscal year 2024, a decrease of 54.41% to 59.90% year-on-year.

China Northern Rare Earth (600111.SH) issued an announcement stating that the company is expected to achieve a net profit attributable to the owners of the parent company of 950 million to 1.08 billion yuan in 2024. Compared with the same period last year (statutory disclosure data), it will decrease by 1.29 billion to 1.42 billion yuan, a year-on-year decrease of 54.41% to 59.90%.