China Rareearth announced its performance for the first half of 2024, with revenue of approximately 0.294 billion Hong Kong dollars, down about 22% compared to the same period last year. The gross loss is around 43.175 million Hong Kong dollars, and the net loss has narrowed to about 62.59 million Hong Kong dollars, with a loss per share of about 2.58 Hong Kong cents. Rare earth and refractory materials are the main business, with a 12% decrease in revenue from rare earth business and a 46% decrease in revenue from refractory business. The company has not declared an interim dividend and has not purchased, sold, or redeemed any listed securities during the period. As of June 30, 2024, the company holds cash and bank deposits of approximately 1.049 billion Hong Kong...Show More

China Rareearth announced its performance for the first half of 2024, with revenue of approximately 0.294 billion Hong Kong dollars, down about 22% compared to the same period last year. The gross loss is around 43.175 million Hong Kong dollars, and the net loss has narrowed to about 62.59 million Hong Kong dollars, with a loss per share of about 2.58 Hong Kong cents. Rare earth and refractory materials are the main business, with a 12% decrease in revenue from rare earth business and a 46% decrease in revenue from refractory business. The company has not declared an interim dividend and has not purchased, sold, or redeemed any listed securities during the period. As of June 30, 2024, the company holds cash and bank deposits of approximately 1.049 billion Hong Kong dollars, with net current assets of approximately 1.764 billion Hong Kong dollars. Changes in the board of directors include Mr. Jiang Quanlong as acting chairman, Mr. Wong Shu Wai appointed as an independent non-executive director on April 2, 2024, and Mr. Zhu Jianming resigned as the company secretary on September 13, 2024, and was succeeded by Mr. Yu Desheng.