Global Materials | Industrials | Commodities

Rahul Jain

Over 20 years of sell-side research experience across Global Metals & Mining, Cement, Industrials, and Commodities. Extensive first-hand mine and plant visits spanning India, Australia, China, the US, and the UK.
Hundreds of buy-side engagements across major global financial hubs in Asia, North America, and Europe. Also led a comprehensive client tour of China to deepen industry understanding.

Focused on fundamentals-driven analysis including earnings modeling, cost structures, and valuations using DCF and relative multiples. Global commodity cycles, supply-demand trends, and macro factors are integrated into sector calls. Research prioritizes inflection points from price, cost, and policy shifts, using a disciplined bottom-up approach supported by top-down macro screening.

China Northern Rare Earth (600111.SH): Strong H1 Guidance Supports Full-Year Outlook

CNRE (600111.SH) – H1 FY25 Beat, Downstream Expansion; Valuations Look Stretched

Rare Earths 2025: Improving Fundamentals, Limited Valuation Headroom

Equity Bottom-Up

China Northern Rare Earth Group High-Tech / Equity Bottom-Up

China Northern Rare Earth Group High-Tech (600111 CH)

China Northern Rare Earth Group High-Tech

<ul>
<li>CNRE posted a 727% YoY net profit surge in Q1 2025, driven by rising PrNd prices and strong volume growth, earnings momentum could continue amid recovering demand and operational leverage.</li>
<li>With exclusive access to the Bayan Obo mine—holding the world’s largest REE reserves—CNRE commands a near-monopoly in China’s rare earth supply chain.</li>
<li>Its dominant 70% share of national separation quotas ensures structural pricing power and long-term resource security.</li>
</ul>


CNRE posted a 727% YoY net profit surge in Q1 2025, driven by rising PrNd prices and strong volume growth, earnings momentum could continue amid recovering demand and operational leverage.
With exclusive access to the Bayan Obo mine—holding the world’s largest REE reserves—CNRE commands a near-monopoly in China’s rare earth supply chain.
Its dominant 70% share of national separation quotas ensures structural pricing power and long-term resource security.


China Northern Rare Earth (Ticker: 600111.SH): Dominant Force Riding REE Upswing