The board of directors of Fujian Jinchuan Rare Earth Co., Ltd. announced on May 29 that the company plans to apply for a public offering of shares to unspecified qualified investors and list on the Beijing Stock Exchange.

The company intends to publicly issue no more than 27.8 million shares (including this number, without considering the over-allotment option) to unspecified qualified investors; the company and the lead underwriter may choose to use the over-allotment option based on specific issuance conditions, with the number of shares issued under the over-allotment option not exceeding 15% of the total number of shares issued in this offering, which is no more than 4.17 million shares (including this number).

The net proceeds from this issuance, after deducting relevant issuance costs, will be invested in the following projects in order of priority: the equipment upgrade and intelligent upgrade project for the high-performance rare earth permanent magnet material production line at the Jinchuan Rare Earth Changting base, and the construction of a project for producing 5,000 tons of high-performance neodymium-iron-boron magnetic materials (Phase II).

According to Changbi Finance, the company fully implements the national rare earth development strategy, focusing on deep processing of rare earths and the field of rare earth functional materials, accelerating the development of new rare earth production capacity driven by innovation, continuously extending the rare earth industry chain, increasing added value, and promoting the rare earth industry towards high-end, intelligent, and green development. Jinchuan Rare Earth is a leading enterprise in the rare earth industry in Fujian Province and a holding subsidiary of Xiamen Tungsten Co., Ltd., mainly engaged in the deep processing of rare earths and the research and application of rare earth functional materials.

The industry is transforming from a "resource-dependent" model to a "technology-driven" model, with product iterations focusing on high performance, refinement, and greenness. Market demand shows a good trend of steady expansion in scale, upgrading in structure, and collaborative development of the industry chain. The development of the industry is deeply bound to the supply of rare earth resources, the level of technological innovation, downstream industry demand, and the global industrial competitive landscape. Leading enterprises are gradually consolidating their market positions through technological barriers, capacity advantages, and a full industry chain layout, while the industry's concentration continues to increase with industrial integration.

The growth momentum of the industry is concentrated in the continuous development of downstream industries such as new energy vehicles, wind power generation, and aerospace, breakthroughs in technological innovation, continuous release of policy dividends, and the restructuring of global supply chains. It is expected that the global market for deep processing of rare earths and rare earth functional materials will maintain steady growth, with China's market growth rate expected to continue leading globally. Among them, the compound annual growth rate of high-end rare earth functional materials is expected to remain above 15% over the next five years. High-performance rare earth permanent magnet materials, rare earth catalytic materials, rare earth hydrogen storage materials, and high-end rare earth alloy materials will become new growth hotspots in the industry, especially high-end products suitable for new energy and national defense military industries, which have huge growth potential.

In terms of performance, according to the company's disclosed 2025 annual report, the company achieved operating revenue of 5.856 billion yuan, a year-on-year increase of 33.93%, and a net profit of 237.6 million yuan, a year-on-year increase of 3.47%