Core Viewpoint - The company reported a revenue of 6.763 billion yuan for 2024, a year-on-year increase of 1.13%, but a net profit attributable to shareholders of 291 million yuan, a year-on-year decrease of 48.37% [1] - The company plans to distribute a cash dividend of 1.2 yuan per 10 shares (tax included) for 2024 [1] Financial Performance - In Q1 2025, the company achieved a revenue of 1.754 billion yuan, a year-on-year increase of 14.19%, and a net profit attributable to shareholders of 161 million yuan, a year-on-year increase of 57.85% [2] - For 2024, the company's net profit excluding non-recurring items was 170 million yuan, a year-on-year decrease of 65.49% [1] Production and Sales - The production of high-performance magnetic materials increased significantly in 2024, with a total production of approximately 29,300 tons, a year-on-year increase of 39.48%, and sales of approximately 20,900 tons, a year-on-year increase of 37.88% [3] - In Q1 2025, the company’s production capacity utilization exceeded 90%, with a production of approximately 8,770 tons of magnetic material blanks and 6,600 tons of finished magnetic materials, both showing over 40% growth compared to the same period last year [3] Pricing and Profitability - The average price of praseodymium-neodymium metal in 2024 was 490,000 yuan per ton, a year-on-year decrease of about 25%, leading to a reduction in gross margin by 4.94 percentage points to 11.13% [3] - In Q1 2025, the average price of praseodymium-neodymium metal rose to 528,000 yuan per ton, a year-on-year increase of 2.7% and a quarter-on-quarter increase of 11.5%, resulting in an increase in sales gross margin to 15.7% [3] Capacity Expansion - The company plans to invest in a new project to produce 20,000 tons of high-performance rare earth permanent magnet materials, with a construction period of 2 years, which will increase its annual production capacity to 60,000 tons [4] - A new production line in Mexico for 1 million sets of magnetic components is also progressing steadily, enhancing the company's product delivery capability to meet growing market demand [4] Investment Outlook - The company anticipates continued growth in performance due to the rapid increase in demand for rare earth permanent magnets and the successful implementation of new projects [4] - The net profit forecasts for 2025-2027 have been adjusted to 633 million, 802 million, and 987 million yuan, respectively, reflecting the company's leading technology and market share in high-end products [4]

Summary of Jinli Permanent Magnet Conference Call Company Overview - Jinli Permanent Magnet is a leading enterprise in the global rare earth permanent magnet industry, focusing on the research, production, and sales of high-performance neodymium-iron-boron permanent magnet materials, magnetic components, embodied robots, electronic rotors, and the recycling of rare earth permanent magnet materials [2][3][10]. Key Financial Performance - In Q1 2025, Jinli reported revenue of 1.754 billion RMB, a year-on-year increase of 14% [2][3]. - The company's capacity utilization rate exceeded 90%, with a significant increase in the production and sales volume of magnetic materials, which grew over 40% year-on-year [2][3]. - The gross profit margin reached 15.7%, showing improvements both year-on-year and quarter-on-quarter [2][3]. - Net profit and net profit excluding non-recurring items saw significant growth [2][3]. Revenue Breakdown - Revenue from the electric vehicle sector accounted for 50% of total revenue, while energy-efficient variable frequency air conditioning contributed 30% [2][3]. - Export sales amounted to approximately 312 million RMB, representing 18% of total revenue, with sales to the U.S. accounting for less than 7% [2][3]. Capacity Expansion Plans - By the end of 2024, the company will have an annual production capacity of 38,000 tons, expected to reach 40,000 tons by the end of 2025 [2][5]. - The Baotou Phase III project is anticipated to be completed by 2027, adding 60,000 tons of capacity and featuring advanced collaborative robots and electronic rotor production lines [2][5]. Share Buyback Plan - The company announced an A-share buyback plan, reflecting confidence in future development and company value, funded by self-owned or raised funds [2][6][8]. - The buyback aims to cancel or reduce registered capital to enhance company value [2][6][8]. Market Conditions and Strategies - Changes in the rare earth supply-demand relationship, including U.S. MP Materials' import restrictions and supply fluctuations from Myanmar, have led to reduced supply and increased prices [2][16]. - The company is actively applying for export licenses to meet the demands of global electric vehicle and wind power customers [2][10][16]. - The management emphasizes cost control, optimized procurement strategies, and group coordination to navigate external market challenges [4][14][15]. Gross Margin Insights - The improvement in gross margin is closely linked to the stability of raw material prices, despite fluctuations in rare earth prices [7][12]. - The gross margin increased due to both capacity release and effective cost management strategies [11][12]. Future Outlook - The company maintains an optimistic outlook for future gross margin improvements, contingent on raw material price stability and effective cost control measures [13][20]. - The demand for high-performance magnetic materials is expected to grow, supported by China's dominant position in global rare earth supply [16][21]. Conclusion - Jinli Permanent Magnet's strong Q1 performance, strategic capacity expansions, and proactive market strategies position the company favorably in the competitive landscape of the rare earth permanent magnet industry, with a positive outlook for future growth and profitability [17][20].

Core Viewpoint - Jiangxi Jinli Permanent Magnet Technology Co., Ltd. reported significant growth in Q1 2025, with a revenue of 1.754 billion yuan, a year-on-year increase of 14.19%, and a net profit of 106 million yuan, up 331.10% year-on-year [1] Group 1: Company Performance - In Q1 2025, the company focused on the new energy and energy-saving sectors, particularly in electric vehicles, energy-efficient air conditioning, wind power generation, robotics, and low-altitude aircraft [1] - Revenue from the electric vehicle and auto parts sector reached 882 million yuan, accounting for 50.28% of total revenue, while the energy-efficient air conditioning sector generated 513 million yuan, making up 29.25% of total revenue [2] - The company achieved a production capacity utilization rate exceeding 90%, with raw material output of approximately 8,770 tons and finished product output of about 6,600 tons, both showing over 40% growth compared to the previous year [2] Group 2: Industry Demand and Trends - The demand for rare earth permanent magnet materials is expanding due to their applications in energy-saving technologies, aligning with national policies promoting green manufacturing [3] - Global consumption of high-performance rare earth permanent magnet materials increased from 47,500 tons in 2018 to 102,500 tons in 2023, with a compound annual growth rate (CAGR) of approximately 16.6% [3] - The AI robotics market is expected to see significant growth by 2025, with high-performance neodymium-iron-boron magnets being critical components for robots and industrial servo motors [4] Group 3: Future Outlook - The company aims to establish a production capacity of 60,000 tons of high-performance rare earth permanent magnet materials by 2027 and develop advanced production lines for humanoid robot magnetic components [4] - The low-altitude economy is projected to create a substantial market for high-performance neodymium-iron-boron magnets, with an expected demand of 10,000 to 20,000 kg per unit, potentially leading to a market increment of several thousand tons by 2025 [4]

Core Viewpoint - The company reported strong financial performance in Q1 2025, with significant year-on-year growth in revenue and net profit, driven by increased sales and improved pricing in the rare earth materials market [1][2]. Financial Performance - Q1 2025 revenue reached 1.754 billion yuan, representing a quarter-on-quarter increase of 0.29% and a year-on-year increase of 14.19% [1] - Net profit attributable to shareholders was 161 million yuan, with a quarter-on-quarter increase of 70.48% and a year-on-year increase of 57.85% [1] - Non-recurring net profit was 106 million yuan, showing a quarter-on-quarter increase of 30.70% and a year-on-year increase of 331.10% [1] Market Dynamics - The average market prices for praseodymium-neodymium oxide and neodymium iron boron increased by 3.29% and 1.60% respectively, reaching 429,600 yuan/ton and 201 yuan/kg [2] - The company's finished magnetic material production was approximately 6,600 tons, with sales of about 6,000 tons, both showing over 40% growth compared to the same period last year [2] Profitability and Cost Management - The gross margin improved to 15.68%, with a quarter-on-quarter increase of 1.44 percentage points, and gross profit increased by 10.44% to 275 million yuan [2] - Operating expenses were well-controlled, decreasing by 10.97% to 138 million yuan, with a slight reduction in expense ratios [2] - R&D expenses increased by 10.67% year-on-year to 83 million yuan, indicating continued investment in innovation [2] Shareholder Confidence - The company plans to repurchase shares with a budget of 100 to 200 million yuan, at a price not exceeding 31.18 yuan per share, representing approximately 0.23%-0.47% of the total share capital [2] Industry Outlook - The overall recovery in rare earth prices is expected to benefit the company, driven by export controls and reduced overseas supply [3] - The demand for rare earth materials is anticipated to grow due to applications in humanoid robots and low-altitude economies, enhancing the market for magnetic materials [3] - The company is positioned to gain from the natural "inventory gains" during the rising price cycle of rare earth materials [3] Earnings Forecast and Valuation - Projected revenues for 2025, 2026, and 2027 are 9.25 billion, 11 billion, and 14 billion yuan respectively, with net profits of 629 million, 822 million, and 1.221 billion yuan [4] - Earnings per share (EPS) are expected to be 0.46, 0.60, and 0.89 yuan, with corresponding price-to-earnings (PE) ratios of 44.58, 34.13, and 22.98 [4] - The company maintains a "buy" rating based on these projections [4]

证券代码：300748 证券简称：金力永磁 江西金力永磁科技股份有限公司 投资者关系活动记录表 编号：2025-008 | □特定对象调研 | □分析师会议 | | --- | --- | | 投资者关系 | □媒体采访 √业绩说明会 | | 活动类别 | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 （请文字说明其他活动内容） | | 形式 | ☐现场 网上 ☐电话会议 | | 参与单位/ 人员名称 | 参会人员 99 人，详见附件 | | 时间 | 2025 年 4 月 28 日 | | 地点 | 网上业绩说明会 | | 上市公司接 | 谢辉 首席财务官 | | 待人员姓名 | 赖训珑 董事会秘书 | | | 刘煦阳 投资者关系总监 | | | 年第一季度经营情况？ 1、请简要介绍公司 2025 | | | 答：2025 年第一季度，公司管理层积极开拓市场并同步扩大产能，保持稳健经 营。公司持续聚焦新能源和节能环保领域，专注于新能源汽车及汽车零部件、节能变 | | | 频空调、风力发电、机器人及工业伺服电机、3C、低空飞行器等核心应用领域, 并积 | | 投资者关系 | 极配合国 ...

Investment Rating - The report maintains a "Buy" rating for the company [5] Core Insights - The company's Q1 2025 performance exceeded expectations, with revenue of 1.754 billion RMB, a quarter-on-quarter increase of 0.29% and a year-on-year increase of 14.19%. The net profit attributable to shareholders was 161 million RMB, reflecting a quarter-on-quarter increase of 70.48% and a year-on-year increase of 57.85% [2][3] - The prices of praseodymium and neodymium oxide and neodymium iron boron increased by 3.29% and 1.60% respectively, contributing to significant growth in sales volume, with a production of approximately 6,600 tons and sales of about 6,000 tons, both up over 40% year-on-year [3] - The company demonstrated effective cost control, with operating expenses decreasing by 10.97% quarter-on-quarter to 138 million RMB, while R&D expenses increased by 10.67% year-on-year to 83 million RMB [3] - The company announced a share buyback plan of 100 to 200 million RMB, indicating confidence in its future performance [3] Revenue and Profit Forecast - The company is projected to achieve revenues of 9.25 billion RMB, 11 billion RMB, and 14 billion RMB for the years 2025, 2026, and 2027 respectively, with net profits of 629 million RMB, 822 million RMB, and 1.221 billion RMB for the same years [5][10] - The expected earnings per share (EPS) for 2025, 2026, and 2027 are 0.46 RMB, 0.60 RMB, and 0.89 RMB respectively, with corresponding price-to-earnings (P/E) ratios of 44.58, 34.13, and 22.98 [5][10] Market Conditions - The overall recovery of rare earth prices is anticipated to benefit the company, driven by export controls and a significant reduction in overseas mining supply, alongside a moderate increase in domestic mining quotas [4] - The demand for rare earth materials is expected to grow due to applications in humanoid robots and low-altitude economies, which may create new opportunities in the magnetic materials sector [4]

Core Viewpoint - The company, Jinli Permanent Magnet, reported strong financial performance for Q1 2025, with significant growth in revenue and net profit, indicating enhanced profitability in its core business [1][2]. Financial Performance - In Q1 2025, the company achieved revenue of 1.754 billion yuan, a year-on-year increase of 14.19% [1] - The net profit attributable to shareholders was 161 million yuan, reflecting a year-on-year growth of 57.85% [1] - Compared to Q4 2024, revenue increased by 0.29%, while net profit rose by 71.82% and non-recurring net profit grew by 92.73% [1] Production and Capacity - The company’s production capacity continued to be released, with a utilization rate exceeding 90% for new capacity [1] - The output of magnetic material blanks reached 8,770 tons, and finished magnetic material production was approximately 6,600 tons, with sales of finished products around 6,024 tons, all showing over 40% growth compared to Q1 2023 [1] Business Structure - The new energy vehicle sector generated revenue of 882 million yuan, accounting for 50.28% of total revenue, maintaining a leading market position [2] - Revenue from energy-saving variable frequency air conditioning reached 513 million yuan, representing 29.25% of total revenue, solidifying competitive advantages [2] - International market expansion was notable, with export sales reaching 312 million yuan, making up 17.76% of total revenue, including 122 million yuan in sales to the U.S., which accounted for 6.94% of total revenue [2] Emerging Business Initiatives - The company is actively developing emerging businesses, achieving breakthroughs in the field of embodied robotics, with small batch deliveries of motor rotor products in collaboration with a well-known international technology company [2] - Jinli Permanent Magnet aims to leverage new capacity releases to strengthen its presence in core application areas such as new energy vehicles, energy conservation, and robotics, focusing on market share expansion through technological innovation and efficient management [2] Share Buyback Plan - Concurrently with the Q1 2025 performance announcement, the company disclosed a share buyback plan, reflecting confidence in future growth [3] - The buyback will occur at a price not exceeding 31.18 yuan per share, with a total fund allocation between 100 million and 200 million yuan, aimed at reducing registered capital [3] - Management emphasizes that the buyback is a key component of the company's strategy while maintaining a focus on investor interests [3]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 1,754,254,463.18, representing a 14.19% increase compared to CNY 1,536,247,143.43 in the same period last year[10] - Net profit attributable to shareholders for Q1 2025 was CNY 160,525,258.63, a significant increase of 57.85% from CNY 101,692,621.31 year-on-year[10] - The net profit after deducting non-recurring gains and losses surged by 331.10% to CNY 105,876,943.19 from CNY 24,559,682.72 in the previous year[10] - The basic and diluted earnings per share for Q1 2025 were both CNY 0.12, reflecting a 50.00% increase from CNY 0.08 in the same quarter last year[10] - The company achieved operating revenue of RMB 1.754 billion, a year-on-year increase of 14.19%[29] - Net profit attributable to shareholders reached RMB 161 million, up 57.85% year-on-year[29] - The company’s net profit excluding non-recurring gains and losses was RMB 106 million, reflecting a significant increase of 331.10% year-on-year[29] - Operating profit increased to ¥184,223,659.37, a rise of 60.6% compared to ¥114,654,714.32 in the last period[38] Assets and Liabilities - The total assets at the end of Q1 2025 amounted to CNY 13,775,686,575.86, up 12.02% from CNY 12,297,311,673.87 at the end of the previous year[11] - The total assets of the company as of March 31, 2025, were RMB 13.776 billion, an increase from RMB 12.297 billion at the beginning of the period[33] - The total liabilities increased to ¥6,500,122,037.63 from ¥5,179,863,454.31, reflecting a growth of 25.5%[35] - Total equity attributable to the parent company reached ¥7,170,608,090.39, up from ¥7,016,033,171.08, indicating a growth of 2.2%[35] Cash Flow - The net cash flow from operating activities improved by 43.03%, reducing the outflow to CNY -350,442,034.40 from CNY -615,182,046.97 in the previous year[10] - Operating cash flow improved by 43.03%, with a net outflow of approximately ¥350.44 million, primarily due to reduced material procurement expenses[18] - Cash flow from financing activities generated a net inflow of $309,308,075.36, up from $55,280,366.64 in the previous period, reflecting stronger financing efforts[45] - The company reported a significant decrease in cash and cash equivalents, ending the period with $1,514,443,970.05, down from $2,347,082,156.47[45] Shareholder Information - The total number of common shareholders at the end of the reporting period was 77,461[19] - The largest shareholder, Jiangxi Ruide Venture Capital Co., Ltd., holds 28.21% of shares, amounting to 387,100,160 shares[20] - The second-largest shareholder, HKSCC Nominees Limited, holds 16.59% of shares, totaling 227,640,800 shares[20] Operational Highlights - In Q1 2025, the company’s production capacity utilization rate exceeded 90%, with raw magnetic material output of approximately 8,770 tons, finished magnetic material output of about 6,600 tons, and sales volume of finished magnetic materials reaching around 6,024 tons, all increasing by over 40% compared to the same period last year[29] - Revenue from the new energy vehicle and auto parts sector amounted to RMB 882 million, accounting for 50.28% of total operating revenue[29] - Revenue from energy-saving variable frequency air conditioning reached RMB 513 million, representing 29.25% of total operating revenue[29] - Export sales revenue was RMB 312 million, making up 17.76% of total operating revenue, with sales to the United States contributing RMB 122 million, or 6.94% of total operating revenue[29] - The company is focusing on expanding its market and production capacity in the new energy and energy-saving sectors, particularly in new energy vehicles and components, energy-saving air conditioning, and robotics[28] Expenses - Total operating costs amounted to ¥1,621,523,660.51, up 8.3% from ¥1,497,437,075.56 in the prior period[37] - Research and development expenses were ¥82,764,290.89, an increase of 10.4% from ¥74,588,597.44 in the previous period[37] - Sales expenses increased by 67.00% to approximately ¥17.68 million, attributed to a 40% growth in sales volume and higher market expansion costs[18] Other Comprehensive Income - The company reported a decrease in other comprehensive income, which was -¥50,430,748.99 compared to -¥42,492,378.41 in the prior period[35] - Other comprehensive income after tax attributable to the parent company was -$48,856,950.64, a substantial decline from -$2,709,351.23 in the previous period[39]

证券代码：300748 证券简称：金力永磁 公告编号：2025-025 江西金力永磁科技股份有限公司 关于回购公司 A 股股份方案公告 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。 重要内容提示： 5、回购股份的资金总额及股份数量：公司拟以自有资金不低于人民币 10,000 万元（含），不超过人民币 20,000 万元（含）进行回购。以拟回购价格上限和 回购资金总额下限测算，预计回购股份数量为 3,207,185 股，约占公司目前总股 本的 0.23%；以拟回购价格上限和回购资金总额上限测算，预计回购股份数量为 6,414,368 股，约占公司目前总股本的 0.47%，具体回购股份的资金总额、股份数 量以回购结束时实际回购的为准。 江西金力永磁科技股份有限公司（以下简称"公司"）本次拟以集中竞价交 易方式回购公司股份方案的主要内容如下： 1、回购股份的种类：公司已发行的人民币普通股（A 股）股票； 2、回购股份的用途：本次回购的股份将依法全部用于注销并减少注册资本； 3、回购股份的价格：不超过 31.18 元/股（含）（不超过董事会审议通过本 次回购股份决议 ...

Financial Performance - The company's revenue for Q1 2025 was ¥1,754,254,463.18, representing a 14.19% increase compared to ¥1,536,247,143.43 in the same period last year[4] - Net profit attributable to shareholders was ¥160,525,258.63, a significant increase of 57.85% from ¥101,692,621.31 year-over-year[4] - The net profit after deducting non-recurring gains and losses surged by 331.10% to ¥105,876,943.19 from ¥24,559,682.72 in the previous year[4] - The company achieved operating revenue of CNY 1.754 billion, a year-on-year increase of 14.19%[14] - Net profit attributable to shareholders reached CNY 161 million, up 57.85% year-on-year[14] - The net profit excluding non-recurring gains and losses was CNY 106 million, reflecting a significant growth of 331.10%[14] - Net profit for the current period was ¥162,513,289.89, representing a 59.0% increase from ¥102,193,377.63 in the previous period[19] - The net profit attributable to the parent company was approximately ¥160.53 million, compared to ¥101.69 million in the previous period, representing a year-over-year increase of 57.6%[20] - The total comprehensive income attributable to the parent company was approximately ¥111.67 million, up from ¥98.98 million, reflecting a growth of 12.8%[20] - Basic and diluted earnings per share increased to ¥0.12 from ¥0.08, marking a 50% increase[20] Assets and Liabilities - The company's total assets increased by 12.02% to ¥13,775,686,575.86 from ¥12,297,311,673.87 at the end of the previous year[4] - Current assets totaled ¥9,087,656,233.87, a rise of 18.1% from ¥7,691,849,512.85 at the beginning of the period[16] - Total liabilities increased to ¥6,500,122,037.63, up 25.5% from ¥5,179,863,454.31 at the start of the period[17] - The total equity attributable to shareholders of the parent company was ¥7,170,608,090.39, up from ¥7,016,033,171.08, reflecting a growth of 2.2%[18] Cash Flow - Cash flow from operating activities showed improvement, with a net outflow of ¥350,442,034.40, a 43.03% reduction from the previous year's outflow of ¥615,182,046.97[4] - Cash inflow from investment activities was approximately ¥205.15 million, while cash outflow was ¥724.48 million, resulting in a net cash outflow of approximately ¥519.33 million[22] - Cash flow from financing activities generated a net inflow of approximately ¥309.31 million, compared to ¥55.28 million in the previous period, indicating a significant increase[22] - The ending cash and cash equivalents balance was approximately ¥1.51 billion, down from ¥2.35 billion in the previous period[22] - The company reported a decrease in cash received from sales of goods and services to approximately ¥1.24 billion, down from ¥1.35 billion[21] - The company’s total operating cash outflow was approximately ¥1.64 billion, compared to ¥2.05 billion in the previous period, showing a reduction in cash outflow[22] Operational Highlights - The weighted average return on equity rose to 2.26%, an increase of 0.84 percentage points compared to 1.42% in the same period last year[4] - The production capacity utilization rate exceeded 90%, with raw magnetic material output of approximately 8,770 tons, and finished magnetic product output of about 6,600 tons, both growing over 40% year-on-year[14] - Revenue from the new energy vehicle and auto parts sector was CNY 882 million, accounting for 50.28% of total revenue[14] - Revenue from the energy-saving variable frequency air conditioning sector was CNY 513 million, representing 29.25% of total revenue[14] - Export sales revenue amounted to CNY 312 million, making up 17.76% of total revenue, with exports to the U.S. contributing CNY 122 million, or 6.94% of total revenue[14] - The company is focusing on expanding its market presence in the new energy and energy-saving sectors, particularly in applications for electric vehicles and industrial servo motors[13] - The company is actively collaborating with internationally renowned technology firms for the development of embodied robot motor rotors and capacity construction[13] - The company plans to continue enhancing production capacity while maintaining stable operations in the upcoming quarters[13] Inventory and Expenses - Inventory levels increased by 30.10% to ¥2,833,732,922.06, reflecting the need for stock due to business growth[8] - The company experienced a 67.00% rise in selling expenses, amounting to ¥17,681,229.15, attributed to a 40% increase in sales volume and higher market expansion costs[8] - Total operating costs amounted to ¥1,621,523,660.51, up 8.3% from ¥1,497,437,075.56 in the prior period[19] Other Information - The company received government subsidies totaling ¥63,411,721.41, contributing positively to its financial performance[5] - The company has not yet audited the first quarter report, indicating that the financial data is subject to change[23]