Rare colors: net profit in the first quarter was 171 million yuan, an increase of 261.55% year-on-year.

In the first quarter of 2026, the company's operating income was 1.535 billion yuan, a year-on-year increase of 1.90%. Net profit was 171 million yuan, an increase of 261.55% year-on-year. During the reporting period, the company strengthened market analysis and further coordinated the procurement and sales synergy of rare earth business, steadily improved the performance of rare earth products, and achieved expected profits. At the same time, the company continued to strengthen the governance of loss-making enterprises, reducing losses year-on-year. The company's affiliated company, Dabaoshan Company, maintained stable and high production. The production and sales volume and price of copper, sulfur, and tungsten products all achieved year-on-year growth, increasing the company's profit. The amount of investment income accounted for by the equity method increased.