Recently, Northern Rare Earth learned from its affiliate, Jinlong Rare Earth, that its shares will be listed and publicly traded on the National Equities Exchange and Quotations (NEEQ) starting February 28, 2025.
Jinlong Rare Earth Co., Ltd. was established on March 3, 2000, with its joint-stock company formed on November 30, 2023, and a registered capital of 2.475 billion yuan. Xiamen Tungsten Co., Ltd. holds a 65.20% stake, making it the controlling shareholder, while the Fujian State-owned Assets Supervision and Administration Commission is its actual controller. Northern Rare Earth holds 74.25 million shares of Jinlong Rare Earth, representing a 3% stake.
Jinlong Rare Earth primarily engages in the deep processing of rare earths and the research, development, and application of rare earth functional materials. The company has established production capacities including 5,000 tons of rare earth separation, 3,000 tons of rare earth metals, 2,000 tons of high-purity rare earth oxides, 1,300 tons of trichromatic phosphors, 15,000 tons of neodymium-iron-boron (NdFeB) magnetic materials, and a 5,000-ton NdFeB surface treatment production line. It boasts a complete deep-processing industrial chain covering smelting and separation → rare earth metals + trichromatic phosphors + magnetic materials.
The business scope of Jinlong Rare Earth includes: rare earth compounds and metal products, luminescent materials, neodymium-iron-boron magnetic alloys, NdFeB magnets, and other rare earth deep-processed products; production, processing, and sales of barium titanate and related electronic materials and new materials; development, production, and sales of high-tech rare earth application products and related equipment; electroplating and electroplating processing; sales of chemical raw materials (excluding hazardous chemicals) for electroplating and testing; inspection of rare earths, environmental, chemical materials, waste, and products; and technical consulting and training services for rare earth testing, among others.
The listing of Jinlong Rare Earth on the NEEQ will help broaden its financing channels and support its rapid development. As a participating shareholder, Northern Rare Earth stands to benefit from enhanced asset liquidity, increased value of its held assets, and maximized shareholder interests, aligning with the company’s strategic development goals.
