At the 2023 Shanghai Main Board Traditional Industry Group Performance Briefing held this afternoon, Qu Yedong, general manager of Northern Rare Earths, said in response to investors' questions, “Due to market supply and demand, product prices in the rare earth market have recently rebounded at a low level, fluctuating slightly upward, with an increase of around 10%. In addition to new production lines under construction or commissioning, the company's upstream raw materials industry production lines are at full capacity. The downstream functional materials industry is affected by market factors, and the capacity utilization rate is lower than that of the raw materials industry.”