Baotou firm reports record operating income

China Northern Rare Earth (Group) High-Tech Co, a Baotou-based company with expertise in rare earth deep processing and comprehensive utilization of rare earth resources, marked progress in 2017 with operating income for the year reaching 10.2 billion yuan ($1.61 billion), according to a 2017 annual report released by the company on April 20.

The figure represented year-on-year growth of 99.56 percent.

The net profit attributable to shareholders of listed companies was 401 million yuan, a year-on-year increase of 341.83percent.