Highlights

• Chinese rare earth company Rising Nonferrous returns to profitability in 2025 with significant growth in separation and magnet production.
• Subsidiary Guangdong Shengyuan achieves a breakthrough 97% first-pass yield in magnet manufacturing, positioning for expanded EV and industrial markets.
• Company demonstrates resilience by maintaining strong downstream performance despite challenging mining conditions and weather impacts.

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China’s Rising Nonferrous Metals Share Co., Ltd. turned profitable in the first half of 2025 as rare-earth prices firmed and volumes rose, according to a summary posted by Asia Metal of the company’s semi-annual report. The data point U.S. investors should clock: despite weather-hit mining, the company’s separation business accelerated—and its magnet unit moved into true mass production with high first-pass yields.

The numbers

Rising Nonferrous’ rare-earth separation units processed 4,582 tonnes of feedstock and produced 4,452 tonnes of separation products in H1—up 15% and 74% YoY, respectively. Mining at subsidiary Pingyuan Huaxi Rare Earth Industry Co., Ltd. lagged expectations due to frequent rainfall and lower ore quality, but downstream kept humming. In magnets, H1 output reached 275 tonnes, with magnet blanks rising 55% year-on-year. Subsidiary Guangdong Shengyuan Permanent Magnetic Materials Co., Ltd. ramped to mass production in June, delivering a first-pass yield (FPY) above 97%; management expects higher output in H2.

Who is Rising Nonferrous?

A China-listed nonferrous conglomerate with a growing rare-earth footprint, Rising spans mining → separation → magnet blanks. The portfolio skews Guangdong—where it operates both the Pingyuan Huaxi mining/separation platform and the Shengyuan magnet plant—positioning the company to capture value deeper in the chain rather than selling mixed rare-earths or REO alone.

Why Relevant?

• Separation growth of 74% YoY—despite weaker mine output—signals Rising can secure feedstock and push product even when geology and weather bite. That resilience matters for pricing and availability in a market where the West is still building non-China refining.
• An FPY above 97% at Shengyuan is a quality milestone. FPY levels of this kind are often associated with automotive-grade requirements and are a prerequisite for cost competitiveness. If H2 ramps as indicated, more China-made NdFeB could flow into EV/industrial supply chains—pressuring Western magnet start-ups on both cost and delivery reliability.
• The H1 return to profit—a function of firmer prices plus higher separation throughput and smelted output—telegraphs that Chinese integrated players can weather upstream variability while scaling downstream.

Nuance for context

H1 magnet output (275 t) is modest versus China’s giants, but the speed of the June ramp and FPY metric are notable. The gap between processed feedstock and separation product implies strong operational yields, yet definitions can vary; investors should review full financials for REO mix, pricing, and tolling arrangements. Weather and ore quality remain operational risks.

Bottom line

Rising Nonferrous is tightening its vertical integration and raising quality bars—a competitive signal for U.S./allied efforts to onshore refining and magnets. Watch H2: if volumes climb off a 97%+ FPY base, price pressure on emerging Western magnet capacity could intensify.

The Company

Rising Nonferrous Metals Share Co., Ltd., (opens in a new tab) a Chinese company listed on the Shanghai Stock Exchange (ticker 600259.SH (opens in a new tab)), engages in the mining, smelting, processing, and trading of rare earths and other non-ferrous metals, including tungsten. Based in Guangzhou, the company's product portfolio includes rare earth concentrates, oxides, and permanent magnet materials, and it serves both domestic and international markets. 

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