China Northern Rare Earth (600111.SH) controlling shareholder intends to increase its holdings by 500 million to 1 billion yuan.

China Northern Rare Earth (600111.SH) announced that the company's controlling shareholder, Baotou Iron and Steel (Group) Co., Ltd. (referred to as Baogang Group), plans to increase its investment by an amount not less than RMB 500 million (inclusive) and not more than RMB 1 billion (inclusive), with the number of shares to be purchased based on the actual trading situation. Recently, the Baotou Lucheng Branch of Agricultural Bank of China Co., Ltd. issued a "Loan Commitment Letter of Agricultural Bank of China" to Baogang Group, agreeing to provide a loan of up to RMB 900 million for the increase in A-share stocks of the company, with a loan term not exceeding 3 years. Apart from the loan mentioned above, the remaining funds for this increase plan will be from Baogang Group's own funds.