At the performance briefing, China Northern Rare Earth stated that from the market perspective, this year, influenced by factors such as downstream demand growth falling short of expectations, the overall rare earth market has been weak. Prices of major rare earth products have generally experienced a fluctuating downward trend. After entering the third quarter, the market has shown a warming trend, with the prices of major rare earth products steadily rising. In the first three quarters of this year, the prices of major rare earth products have still been operating differentially. Lanthanide products have seen prices decrease due to oversupply; cerium products have maintained stable operation after a price surge driven by demand in the magnetic materials sector; prices of praseodymium and neodymium rare earth products have fluctuated downward. After entering the third quarter, with an increase in downstream orders and the issuance of the second batch of rare earth total control indicators for mining, smelting, and separation within the year, the prices of praseodymium and neodymium products have rebounded and stabilized. The market stabilization since the third quarter has provided support and momentum for the improvement of the company's performance.