Huahong Technology H1 rare earth recycling and magnets revenue rises
2025-08-28 11:52:26 [Print]
Jiangsu Huahong Technology Co., Ltd. achieved operating revenue of RMB3.16 billion (USD442 million) in the first half of the year, up by 17.17% year-on-year, driven by a recovery in rare earth prices and rising magnet materials sales, according to the company's semi-annual report.
During the reporting period, revenue from its rare earth recycling business reached RMB1.57 billion (USD219 million), up by 25.46% YoY and accounting for nearly 50% of total revenue. The magnet materials business generated revenue of RMB751 million (USD105 million), up by 29.31% YoY.
The company further expanded its rare earth magnet production capacity during the first half of this year, when the phase one of its 10,000tpa high-performance rare earth permanent magnet project in Baotou, Inner Mongolia was completed and is expected to begin trial production in the second half. Once it becomes operational, the company's total magnet production capacity will exceed 20,000 tonnes.
During the reporting period, revenue from its rare earth recycling business reached RMB1.57 billion (USD219 million), up by 25.46% YoY and accounting for nearly 50% of total revenue. The magnet materials business generated revenue of RMB751 million (USD105 million), up by 29.31% YoY.
The company further expanded its rare earth magnet production capacity during the first half of this year, when the phase one of its 10,000tpa high-performance rare earth permanent magnet project in Baotou, Inner Mongolia was completed and is expected to begin trial production in the second half. Once it becomes operational, the company's total magnet production capacity will exceed 20,000 tonnes.
