[Zhongraren Ferrous: Q3 net profit increased by 532% year-on-year and 49% month-on-month, and the performance of rare earth products improved steadily] On October 30, Zhongraren Ferrous (600259.SH) announced that it achieved operating income of 3.685 billion yuan in the first three quarters, a year-on-year decrease of 20.47%; the net profit attributable to shareholders of listed companies was 752 million yuan, a year-on-year increase of 489.24%. In the third quarter, operating income was 1.179 billion yuan, a year-on-year decrease of 39.75%; net profit attributable to shareholders of listed companies was 348 million yuan, a year-on-year increase of 532.33%. The first main reason for the increase in net profit is that the rare earth market will rise as a whole in 2026, and the performance of the company's rare earth products will steadily improve. Second, the company's joint-stock company Dabaoshan Company has maintained stable and high production. The production, sales and price of copper, sulfur and tungsten products have achieved year-on-year growth. Corporate profits have increased, and the company's investment income calculated according to the equity method has increased. Xiaocai Note: The company’s Q3 net profit was 348 million, and Q2 net profit was 233 million. Based on this calculation, Q3 net profit increased by 49% month-on-month.