Core Viewpoint - Jinli Permanent Magnet (300748) announced on October 13 that its stock price has experienced an abnormal fluctuation, with a cumulative increase of 39.94% over three consecutive trading days [1] Group 1: Company Performance - The company's recent operational situation is normal, and there have been no significant changes in the internal and external operating environment [1] - After verification, it was confirmed that the company, its controlling shareholder, and actual controller do not have any undisclosed significant matters related to the company [1] Group 2: Market Activity - The stock price deviation has raised concerns, prompting the company to issue a notice regarding the abnormal trading activity [1] - The cumulative increase in stock price indicates heightened market interest or speculation surrounding the company [1]

证券代码：300748 证券简称：金力永磁 公告编号：2025-069 江西金力永磁科技股份有限公司 股票交易异常波动的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、股票交易异常波动情况 江西金力永磁科技股份有限公司（以下简称"公司"）股票于 2025 年 10 月 9 日、2025 年 10 月 10 日、2025 年 10 月 13 日连续三个交易日收盘价涨幅偏 离值累计达到 39.94%，根据深圳证券交易所相关规定，属于股票交易异常波动 的情形。 二、公司关注并核实情况的说明 针对公司股票交易异常波动，公司董事会就相关问题进行了核实，现将有关 情况说明如下： 1、公司未发现前期披露的信息存在需要更正、补充之处。 2、公司未发现近期公共传媒报道了与公司相关且市场关注度较高的信息。 3、公司近期经营情况正常，内外部经营环境未发生重大变化。 6、经自查，公司不存在违反公平信息披露规定的情形。 三、是否存在应披露而未披露信息的说明 公司于 2025 年 10 月 9 日在巨潮资讯网披露了《关于股东减持计划实施完成 暨权益变动触及 1%整数倍的公告》（ ...

Core Viewpoint - Jinli Permanent Magnet conducted six block trades on October 13, totaling 2.025 million shares and a transaction amount of 83.5718 million yuan, with a trading price of 41.27 yuan, reflecting a 12.00% discount compared to the closing price of the day [2] Group 1: Trading Activity - The total transaction amount for the six block trades was 83.5718 million yuan, with a total trading volume of 2.025 million shares [2] - Institutional proprietary seats participated in two of the trades, with a total transaction amount of 72.2225 million yuan, indicating a net purchase of 72.2225 million yuan [2] - Over the past three months, Jinli Permanent Magnet has recorded 18 block trades, with a cumulative transaction amount of 135 million yuan [2] Group 2: Stock Performance - The closing price of Jinli Permanent Magnet on October 13 was 46.90 yuan, representing a 17.60% increase, with a daily turnover rate of 15.54% and a total transaction amount of 7.706 billion yuan [2] - The stock experienced a net outflow of 33.5644 million yuan in main funds throughout the day, while it has seen a cumulative increase of 35.31% over the past five days, with a total net inflow of 102 million yuan [2] Group 3: Margin Trading Data - The latest margin financing balance for Jinli Permanent Magnet is 1.781 billion yuan, which has increased by 307 million yuan over the past five days, reflecting a growth rate of 20.81% [2]

Core Viewpoint - China's comprehensive control over the rare earth industry is expected to lower global supply growth forecasts, benefiting the domestic rare earth sector's high-quality development [1][2]. Group 1: Policy and Regulation - The Ministry of Commerce and the General Administration of Customs have announced that starting from November 8, 2025, export controls will be implemented on certain medium and heavy rare earth items, related equipment, raw materials, and technologies [1][2]. - The recent upgrade in export controls includes an expanded range of controlled items, now including five additional medium and heavy rare earth elements [2]. - Export controls now extend to overseas operators, requiring them to obtain export licenses from the Chinese Ministry of Commerce for items containing or mixed with controlled rare earth materials [2]. Group 2: Market Dynamics - The demand for rare earths is expected to benefit from the continuous growth in the production of electric vehicles and wind power installations [4]. - As of August this year, China's exports of rare earth permanent magnets have increased by 15.4% year-on-year, indicating a recovery in export volumes [4]. Group 3: Investment Opportunities - Companies to watch in the rare earth sector include Northern Rare Earth (600111.SH), China Rare Earth (000831.SZ, 00769), Guangsheng Nonferrous (600259.SH), and magnetic material producer Jieli Permanent Magnet (300748.SZ, 06680) [5]. Group 4: Supply Chain Challenges - The difficulty of reconstructing the rare earth supply chain overseas has increased due to China's strengthened controls, enhancing the strategic position of Chinese rare earth products [3].

金力永磁涨11.58%，报44.5元/股，股价再创新高，总市值突破608.96亿元，成交额达49.07亿元。（AI 生成） ...

Group 1 - Hong Kong's Hang Seng Index fell by 3.49%, down 916 points, closing at 25,373 points, while the Hang Seng Tech Index dropped by 4.54%. The morning trading volume reached HKD 281.8 billion [1] - Jinli Permanent Magnet (06680) surged over 12% as a rare earth giant announced price increases, with institutions optimistic about the strengthening strategic position of rare earths [1] - Semiconductor stocks rose against the trend, with Huahong Semiconductor (01347) increasing by 3.6%, driven by escalating competition in the technology sector and multiple catalysts for the semiconductor industry [1] - Kingsoft (03888) saw a rise of over 18% at one point, closing up over 9%, as external frictions escalate, highlighting the trend towards self-controlled industries and investment opportunities in the Xinchuang sector [1] - Gold stocks mostly rose due to risk aversion, with spot gold breaking through USD 4,060. Zijin Mining International (02259) increased by 4.6%, and Chifeng Jilong Gold Mining (06693) rose by 2.5% [1] Group 2 - MicroPort Scientific-B (02252) rose over 2% as its commercialization process accelerated, with overseas orders exceeding 60 units [2] Group 3 - Liqin Resources (02245) increased by over 5% following the implementation of cobalt export quotas in the Democratic Republic of Congo [3] - China Merchants Energy (01138) rose over 4% due to seasonal demand and event disturbances, with institutions expecting stronger freight rates [3] - Domestic insurance stocks fell across the board, with Tianan Insurance announcing a debt default of CNY 5.3 billion, which institutions suggest may mark the beginning of market-driven risk pricing. New China Life Insurance (01336) fell by 5%, China Pacific Insurance (02328) by 3.9%, and China Taiping Insurance (02601) by 3.6% [3] Group 4 - Pharmaceutical stocks continued their recent downward trend, with Junshi Biosciences (01877) dropping nearly 10.6% and Kanglong Chemical (03759) falling over 9% [4] Group 5 - Apple-related stocks experienced significant declines, with Hongteng Precision (06088) dropping over 10%, as institutions stated that the impact of tariffs on the supply chain should not be overestimated [5]

Core Viewpoint - Jinli Permanent Magnet's stock price reached a historical high, reflecting strong market performance and investor interest [2] Company Summary - As of 11:10, Jinli Permanent Magnet's stock increased by 12.59%, reaching a price of 44.90 yuan, with a trading volume of 116 million shares and a transaction value of 4.959 billion yuan, resulting in a turnover rate of 10.28% [2] - The company's latest A-share total market capitalization is 51.223 billion yuan, with a circulating market capitalization of 50.767 billion yuan [2] - The company reported a revenue of 3.507 billion yuan for the first half of the year, representing a year-on-year growth of 4.33%, and a net profit of 305 million yuan, which is a significant increase of 154.81% [2] - The basic earnings per share are 0.2200 yuan, with a weighted average return on equity of 4.27% [2] - On October 9, the company released a forecast for the first three quarters, expecting a net profit between 505 million yuan and 550 million yuan, indicating a year-on-year change of 157.00% to 179.00% [2] Industry Summary - The non-ferrous metals industry, to which Jinli Permanent Magnet belongs, experienced an overall decline of 0.25%, with 56 stocks rising and 3 stocks hitting the daily limit, including Galaxy Magnet and New Life Fortune [2] - Conversely, 85 stocks in the industry saw declines, with Northern Copper, Yunnan Copper, and Jiangxi Copper leading the losses, with declines of 6.51%, 5.41%, and 5.23% respectively [2] - As of October 10, the margin trading balance for Jinli Permanent Magnet was 1.795 billion yuan, with a financing balance of 1.781 billion yuan, reflecting a recent increase of 180 million yuan, or 11.22% [2]

Core Viewpoint - The recent tightening of rare earth export controls by the Chinese government is expected to impact the market dynamics significantly, leading to price increases and potential investment opportunities in companies involved in rare earth production and trading [1]. Group 1: Market Reaction - Jinli Permanent Magnet (300748) saw a surge of over 6%, trading at 27 HKD with a transaction volume of 11.87 million HKD [1]. - Baotou Steel (600010) and Northern Rare Earth (600111) announced an increase in the associated transaction prices for rare earth concentrates for Q4 2025, with Northern Rare Earth adjusting the price to 26,205 RMB/ton (excluding tax), reflecting a 37% increase quarter-on-quarter [1]. Group 2: Regulatory Changes - On October 9, the Ministry of Commerce of China announced stricter export control measures for rare earths, expanding the scope and approval requirements for exports [1]. - The new regulations include increased controls on five categories of medium and heavy rare earths, as well as restrictions on the export of equipment, technology, and raw materials across the entire industry chain [1]. Group 3: Geopolitical Context - The ongoing trade tensions between the U.S. and China have escalated, with Trump announcing additional 100% tariffs on Chinese goods starting November 1, along with export controls on critical software [1]. - According to Fengzheng Securities, the renewed tariff conflict highlights the strategic importance of rare earths, while CITIC Securities noted that the Ministry of Commerce's recent actions further solidify the strategic position of rare earths in the market [1].

Core Viewpoint - The Chinese Ministry of Commerce has tightened export licenses for rare earths, leading to price increases announced by major domestic players, Northern Rare Earth and Baotou Steel, indicating a shift in valuation logic from traditional cyclical stocks to a dual-driven model of "strategic resources + high-end manufacturing" [1] Group 1: Price Adjustments - Northern Rare Earth and Baotou Steel have both announced adjustments to their rare earth concentrate trading prices for Q4 2025, setting the price at 26,205 CNY/ton (dry weight, REO=50%), marking a 37.13% increase from Q3 [1] - The price of praseodymium-neodymium oxide averaged 562,000 CNY/ton on September 30, up 26.43% from 444,500 CNY/ton on June 30, indicating significant price movements in the rare earth market [2] - Over the past year, Northern Rare Earth's rare earth concentrate trading price has increased from 16,741 CNY/ton in Q3 2024 to 26,205 CNY/ton, reflecting a 56.53% increase [2] Group 2: Demand and Market Trends - Demand for rare earths is expected to grow, with a 10% increase in magnetic material demand anticipated due to developments in green low-carbon technologies and electric-driven applications [3] - The revenue and profit of related companies are projected to rise significantly due to increasing rare earth concentrate prices, with Northern Rare Earth expecting a net profit of 1.51 billion to 1.57 billion CNY for the first three quarters of the year, a year-on-year increase of 272.54% to 287.34% [3] Group 3: Industry Outlook - The tightening of the rare earth industry chain management is expected to enhance the strategic position of the industry, leading to improved valuations for listed companies in the sector [4] - Analysts predict significant profit improvements for rare earth and magnetic material companies in Q3 and Q4, with a continued bullish outlook on rare earth prices [4] - Companies such as Northern Rare Earth, Guangsheng Nonferrous, China Rare Earth, Baotou Steel, and Shenghe Resources are recommended for investment due to their strategic positions in the market [4] Group 4: Related Stocks Performance - Jinli Permanent Magnet expects a net profit of 505 million to 550 million CNY for the first three quarters of 2025, a year-on-year increase of 157% to 179% [5] - China Rare Earth, primarily engaged in the manufacturing and sales of rare earth products, is positioned to benefit from the rising demand and prices in the sector [5] - Minmetals Resources reported a revenue of 2.817 billion USD for the first half of the year, a 47% year-on-year increase, with a significant profit increase of 1511% [5]

花旗研究报告指出，国家商务部及海关总署周四公布，扩大对稀土产品及技术的出口管制。花旗认为， 该政策透过更强国内市场保护，有利于持有配额的龙头企业。花旗续表示，金力永磁(06680.HK)昨日公 布其首九个月初步业绩，净利润为5.05亿至5.5亿元人民币，按年上涨157%至179%，占花旗对其全年估 计71%至77%以及市场共识73%至79%。花旗予该股维持"买入"评级，目标价25.3港元。 ...