Financial Performance - For the fiscal year ending December 31, 2023, the company achieved a revenue of RMB 6,687.9 million, a decrease of 6.7% compared to the previous year[9]. - The net profit attributable to the owners of the parent company for 2023 was RMB 563.7 million, representing a decline of 19.8% year-on-year[9]. - The company's operating revenue for the year ended December 31, 2023, was RMB 6,687.9 million, a decrease of 6.7% compared to RMB 7,165.2 million in 2022[35]. - The net profit attributable to the owners of the parent company for the year was RMB 563.7 million, down 19.8% from RMB 702.7 million in the previous year[36]. - The basic earnings per share for 2023 was RMB 0.42, a decrease of 20.8% from RMB 0.53 in 2022[35]. - The gross profit margin for 2023 was 16.07%, slightly down from 16.18% in 2022[43]. - The company’s net profit attributable to shareholders in 2023 was RMB 563.7 million, a decrease of 19.78% year-on-year[86]. - The company’s cash flow from operating activities significantly increased to RMB 1.518 billion in 2023[86]. - Revenue from the new energy vehicles and automotive parts segment accounted for 49.5% of total revenue in 2023, compared to 47.5% in 2022[40]. - The average selling price of neodymium iron boron products decreased due to fluctuations in rare earth material prices, while sales volume increased by 25.6% from 12,041 tons in 2022 to 15,122 tons in 2023[116]. Production and Capacity - The sales volume of high-performance rare earth permanent magnet materials reached 15,122 tons, an increase of 25.6% compared to 2022[9]. - The company plans to increase the annual production capacity of high-performance rare earth permanent magnet materials to 40,000 tons by 2025[10]. - The company’s production capacity utilization rate exceeded 90% for the year, with ongoing projects in Baotou, Ningbo, and Ganzhou[10]. - The company achieved total production of high-performance rare earth permanent magnet materials of 15,154 tons in 2023, an increase of 18.52% year-on-year[90]. - The company's production capacity for rough blanks has reached 23,000 tons per year, with a capacity utilization rate exceeding 90% in 2023[93]. - The company plans to establish a production line in Mexico with an annual capacity of 1 million sets of magnetic components, which is currently progressing steadily[94]. Research and Development - Research and development expenses amounted to RMB 354 million in 2023, representing 5.29% of total revenue, indicating a strong commitment to innovation[72]. - The company is investing in new technologies, including advanced heat treatment processes to enhance the performance of its magnetic materials[26]. - The company will continue to invest in R&D for humanoid robot magnetic components and collaborate with global customers to drive innovation[111]. - The company emphasizes a customer-centric approach and aims to improve product quality and service through a matrix project management model[110]. Market and Strategic Goals - The company aims to expand its market presence in the renewable energy sector, particularly in wind power generation[26]. - The company anticipates a revenue growth of 20% for the upcoming fiscal year based on current market trends[27]. - The company is exploring potential mergers and acquisitions to strengthen its competitive position in the market[28]. - The company has established long-term strategic partnerships with major rare earth suppliers, optimizing procurement strategies to mitigate the impact of price fluctuations on operations[76]. - The company’s strategic goal is to become a global leader in the rare earth permanent magnet materials industry, supported by expanding production capacity and optimizing product structure[104]. Environmental, Social, and Governance (ESG) - The company has established an ESG committee to enhance its ESG strategy and has received recognition for its outstanding ESG practices in 2023[10]. - The company is committed to environmental, social, and governance (ESG) initiatives as part of its corporate strategy[26]. - The company has reduced carbon emissions by approximately 34.02 million tons through the sale of magnetic products in various sectors, including new energy vehicles and wind power[97]. - The company has invested approximately RMB 24.89 million in environmental protection and health safety during the reporting period[100]. - The company emphasizes ESG initiatives, aiming to support carbon neutrality through various measures, including the construction of photovoltaic power stations and technological innovations[78]. Corporate Governance - The company maintains high standards of corporate governance and continuously improves its governance structure and internal management systems[156]. - The company ensures equal rights for all shareholders during the general meetings, adhering to the Articles of Association and relevant laws[157]. - The company has established a performance evaluation and incentive mechanism for senior management, focusing on responsibility, motivation, performance, and competition principles[168]. - The independent non-executive directors have confirmed their independence according to Hong Kong listing rules, ensuring compliance with governance standards[175]. - The company has adopted corporate governance codes and has complied with relevant regulations, with minor deviations noted during specific periods[170].

智通财经APP讯，金力永磁(06680)发布公告，于2024年1月26日，董事会审议通过了关于建议H股发行 方案之议案。据此，公司将按H股发行价发行不超过2689.54万股(含本数)H股，发行对象包括控股股东 认购方及其他符合适用法律法规规定及香港联交所要求的独立第三方合格投资者。假设新H股按拟定发 行价格发行，建议H股发行所募集资金总额将不超过2.2亿港元(含本数)，在扣除发行相关费用后，将用 于支持公司业务发展，补充公司营运资金，偿还公司到期债务。拟定发行价格为每股新H股8.19港元。 于2024年1月26日，公司与江西瑞德订立H股认购协议，根据H股认购协议载列的条款及在其条件规限 下，公司已同意向控股股东认购方(即江西瑞德或其指定的境外全资附属公司)配发及发行，而江西瑞德 已同意自行或指定其境外全资附属公司以现金方式按H股发行价认购公司不超过2017.16万股H股(含本 数)。 公告称，建议H股发行有利于提升公司资本实力和资产规模，增强公司核心竞争力和盈利能力，促进公 司主营业务的持续快速增长，为公司进一步做大做强提供资金保障;控股股东认购方作为建议H股发行的 认购方之一，展现其对于公司未来发展的坚定信 ...

Financial Performance - The company's operating revenue for Q3 2023 was CNY 1,620,367,043.75, a decrease of 15.15% compared to the same period last year[3]. - Net profit attributable to shareholders for Q3 2023 was CNY 161,663,200.56, down 27.47% year-on-year[3]. - The net profit after deducting non-recurring gains and losses was CNY 150,329,333.96, reflecting a decline of 28.10% compared to the previous year[3]. - Basic earnings per share for Q3 2023 were CNY 0.1204, down 27.73% year-on-year[3]. - In the first three quarters of 2023, the company achieved operating revenue of 5.05 billion RMB, a decrease of 3.13% compared to the same period last year[12]. - Net profit attributable to shareholders was 494 million RMB, down 28.03% year-on-year[12]. - The company's operating profit for the current period is 537,073,231.22, a decrease of 27.8% compared to 743,752,661.10 in the previous period[26]. - Net profit attributable to shareholders of the parent company is 494,265,422.45, down from 686,732,677.01, reflecting a decline of approximately 28.1%[26]. - The company reported a total comprehensive income attributable to owners of the parent of 492,091,667.74, down from 688,163,080.42, a decrease of approximately 28.5%[27]. Cash Flow - The net cash flow from operating activities for the period was CNY 817,005,984.24, an increase of 297.77% compared to the same period last year[3]. - The company generated a net cash flow from operating activities of 817 million RMB, significantly increasing compared to the same period last year[12]. - The total cash inflow from operating activities reached 5,880,020,869.11, compared to 4,287,760,135.90 in the previous period, indicating a growth of 37.2%[29]. - The net cash flow from operating activities is 817,005,984.24, a significant improvement from a negative cash flow of -413,113,053.92 in the previous period[29]. - The net cash flow from investment activities was -397,732,235.40, an improvement from -632,588,927.81 in the previous period[33]. - The net cash flow from financing activities was negative at -632,439,062.02 RMB, compared to a positive 2,793,933,430.54 RMB in the previous period[34]. - The net increase in cash and cash equivalents was -213,930,280.44 RMB, compared to an increase of 1,910,158,223.80 RMB in the previous period[34]. - The ending balance of cash and cash equivalents was 3,186,454,175.49 RMB, slightly up from 3,165,625,131.40 RMB in the prior period[34]. Assets and Liabilities - Total assets attributable to shareholders at the end of the reporting period were CNY 11,396,576,497.07, an increase of 1.57% from the end of the previous year[3]. - Owner's equity at the end of the reporting period was CNY 7,077,907,416.44, up 4.32% compared to the previous year[3]. - The company's total liabilities decreased to approximately 4.31 billion yuan from 4.43 billion yuan at the beginning of the year[18]. - The total equity attributable to shareholders increased to approximately 7.08 billion yuan from 6.79 billion yuan at the beginning of the year[19]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 61,665[9]. - The largest shareholder, Jiangxi Ruide Venture Investment, holds 28.83% of shares, totaling 387,100,160 shares[9]. - The top ten unrestricted shareholders hold a total of 1,000,000,000 shares, with Jiangxi Ruide Venture Capital Co., Ltd. being the largest shareholder with 387,100,160 shares[10]. Research and Development - Research and development expenses amounted to 256 million RMB, an increase of 15.99% year-on-year, with R&D expenses accounting for 5.08% of operating revenue, up from 4.24% in the same period last year[12]. - The company has increased its R&D investment to optimize formulations and achieve cost reduction and efficiency improvement[12]. - Research and development expenses increased to 256,427,987.21, up 16.0% from 221,078,951.52 in the previous period[24]. Operational Performance - The company's production capacity utilization rate reached approximately 85% in Q3 2023, with a total output of high-performance rare earth permanent magnet materials at 10,965 tons, an increase of 15.18% year-over-year[13]. - The output using crystal boundary infiltration technology was 9,364 tons, representing a year-over-year growth of 36.20% and accounting for 85.40% of the total product output, an increase of 13.19 percentage points compared to the same period last year[13]. - Revenue from the new energy vehicle and automotive parts sector reached 2.41 billion yuan, a year-over-year increase of 26.19%[13]. - Revenue from the energy-saving variable frequency air conditioning sector was 1.058 billion yuan, while revenue from the wind power generation sector was 444 million yuan, and revenue from the robotics and industrial servo motor sector was 165 million yuan[13]. - The company is focusing on optimizing product structure and expanding its market presence in the new energy sector[13]. Financial Management - Financial expenses decreased by 73.58% from CNY -159,235,531.04 to CNY -42,062,411.54 primarily due to significant foreign exchange gains from the previous year[8]. - Other income increased by 90.25% from CNY 31,969,563.41 to CNY 60,823,435.06 mainly due to realized foreign exchange gains[8]. - The financial income from interest increased to 39,890,730.21, compared to 28,733,932.71 in the previous period, marking an increase of 38.5%[24]. - The company experienced a decrease in sales expenses to 21,233,426.19, down from 26,124,387.26, a reduction of 18.5%[24]. Accounting and Compliance - The company has adopted the new accounting policy effective January 1, 2023, as per the Ministry of Finance's announcement[35]. - The third quarter report was not audited[37].

Financial Performance - The company's operating revenue for H1 2023 reached RMB 3,430 million, representing a 3.8% increase compared to H1 2022[19] - The net cash flow from operating activities for H1 2023 was RMB 779 million, a significant increase of 235.7% compared to H1 2022[7] - The gross profit for the same period was RMB 539.21 million, reflecting a decrease of 20.49% from RMB 678.20 million in the previous year[32] - Net profit attributable to the owners of the parent company was RMB 332.60 million, down 28.29% from RMB 463.83 million in the prior year[33] - The basic and diluted earnings per share decreased to RMB 0.40, down 27.27% from RMB 0.55 in the same period last year[32] - The company's operating costs rose by 10.10% to RMB 2,890.8 million, compared to RMB 2,625.6 million in the same period last year[86] - The net profit for the six months ended June 30, 2023, was RMB 334.0 million, down from RMB 463.9 million for the same period in 2022, with a profit margin decreasing from 14.04% to 9.74%[106] Revenue Segmentation - Sales in the new energy vehicle and automotive parts sector for H1 2023 amounted to RMB 1,630 million, a 54.1% increase compared to H1 2022[15] - Revenue from the new energy vehicle and automotive parts segment reached RMB 1,630.2 million, accounting for 47.53% of total revenue, up from 32.03% in the previous year[89] - Revenue from the wind power sector was 309 million yuan, with sales capable of equipping approximately 1.59 GW of wind turbines[79] - Domestic sales accounted for 78.20% of total revenue, while overseas sales made up 21.80%, compared to 89.15% and 10.85% respectively in the previous year[41] Production and Capacity - The total production of high-performance rare earth permanent magnet materials in H1 2023 was 6,690 tons, showing a compound annual growth rate of 9.4%[13] - The total production of high-performance rare earth permanent magnet materials using grain boundary diffusion technology reached 5,755 tons in H1 2023[13] - The company plans to increase its production capacity of high-performance rare earth permanent magnet materials to 40,000 tons by 2025, up from the current capacity of 23,000 tons[61] - In the first half of 2023, the company produced 5,755 tons of high-performance rare earth permanent magnet materials, a year-on-year increase of 38.36%, accounting for 86.03% of total product output[77] Research and Development - Research and development expenses for H1 2023 totaled RMB 175 million, reflecting the company's commitment to innovation[18] - In the first half of 2023, the company's R&D investment reached 174.7 million yuan, a year-on-year increase of 24.1%, accounting for 5.09% of the operating revenue during the same period[66] - The company aims to increase its R&D efforts to enhance production technology and diversify its product offerings, including reducing the use of heavy rare earths in high-performance materials[129] Market Trends and Outlook - The global consumption of rare earth permanent magnet materials is expected to increase from 209,500 tons in 2020 to 305,200 tons by 2025, reflecting a significant growth in demand[44] - The forecast for China's new energy passenger vehicle sales in 2023 is 8.5 million units, with a penetration rate of 36%[47] - The global sales of new energy vehicles in the first half of 2023 reached 5.8319 million units, a year-on-year increase of 40.15%[47] Corporate Governance - The board will regularly review and strengthen the company's corporate governance practices to ensure compliance with the corporate governance code[140] - The company emphasizes the importance of high standards of corporate governance and is committed to improving its governance structure continuously[137] - The company has adopted a standard of conduct for securities trading by directors and supervisors that meets or exceeds the requirements of the standard code[143] Shareholder Information - Major shareholder Cai Baogui holds 241,937,600 A shares, representing approximately 36.94% of the company's equity[161] - The company has a significant presence of state-owned enterprises among its major shareholders, with China Resources (Holdings) holding 11,423,600 H shares, which is 9.10% of the total equity[156] - The report indicates that the company has a diverse shareholder base, including investment management firms like Zhuque Fund Management, which holds 33,347,600 H shares, or 26.58% of the total equity[156] Environmental and Social Governance (ESG) - The company has been recognized for its ESG initiatives, including the construction of photovoltaic power stations and achieving carbon neutrality certification from SGS in 2022[67] - The company aims to reduce greenhouse gas emissions and resource consumption by 5% to 10% annually through increased use of green energy and enhanced recycling of raw materials[132] Strategic Partnerships and Expansion - The company has established stable strategic partnerships with major rare earth suppliers, including Northern Rare Earth Group and China Rare Earth Group, and has been recognized as a "Quality Customer" for two consecutive years[65] - The company is actively expanding into various sectors, including 3C, robotics, industrial servo motors, energy-saving elevators, and rail transit, maintaining a leading market position[60] - The company is actively expanding its international presence, establishing subsidiaries in Hong Kong, Europe, Japan, the United States, and Mexico to enhance its global business layout[71]

Financial Performance - The company's operating revenue for Q1 2023 was CNY 1,650,586,918.86, representing a 9.40% increase compared to CNY 1,508,713,746.90 in the same period last year[3] - Net profit attributable to shareholders for Q1 2023 was CNY 178,203,776.63, an increase of 8.77% from CNY 163,829,220.36 year-on-year[3] - The net profit after deducting non-recurring gains and losses decreased by 19.00% to CNY 123,509,476.39 from CNY 152,478,943.42 in the previous year[3] - Total operating profit for the current period is 190,926,662.81, an increase from 183,147,245.97 in the previous period, reflecting a growth of approximately 4.8%[22] - Net profit for the current period is 178,834,120.15, compared to 164,009,577.57 in the previous period, indicating a year-over-year increase of about 9.0%[22] - The total comprehensive income for the current period is 179,303,787.94, compared to 164,381,228.17 in the previous period, showing an increase of approximately 9.0%[24] Cash Flow and Liquidity - The net cash flow from operating activities improved significantly to CNY 417,064,697.86, a 198.46% increase from a negative CNY 423,579,602.19 in the same period last year[3] - Cash flow from operating activities generated a net amount of 417,064,697.86, a significant improvement from -423,579,602.19 in the previous period[27] - The total cash and cash equivalents at the end of the period amounted to 3,663,252,232.84, reflecting the company's liquidity position[30] - The company reported a net cash flow from financing activities of -46,165,642.62, indicating a significant outflow in this area[30] Assets and Liabilities - Total assets at the end of the reporting period were CNY 11,647,364,692.27, reflecting a 3.80% increase from CNY 11,220,455,751.51 at the end of the previous year[3] - Total liabilities increased to CNY 4.677 billion from CNY 4.433 billion at the beginning of the year[17] - Equity attributable to shareholders increased by 2.68% to CNY 6,966,528,319.97 from CNY 6,784,850,326.07 year-on-year[3] Shareholder Information - The top shareholder, Jiangxi Ruide Venture Capital Co., Ltd., holds 28.87% of shares, totaling 241,937,600 shares[9] - The second-largest shareholder, HKSCC Nominees Limited, holds 14.97% of shares, totaling 125,466,000 shares[9] - The total number of common shareholders at the end of the reporting period was 61,208[10] - The total number of restricted shares released during the period was 6,889,368, with 660,975 shares newly restricted[11] Operational Highlights - In Q1 2023, the company achieved operating revenue of CNY 1.651 billion, a year-on-year increase of 9.40%, with core business revenue reaching CNY 1.426 billion, up 12.23%[12] - The company produced 2,719 tons of high-performance rare earth permanent magnet materials, a year-on-year increase of 47.39%, accounting for 86.82% of total production[12] - Revenue from the new energy vehicle and auto parts sector reached CNY 804 million, a substantial increase of 78.56% year-on-year[12] - Sales of new energy vehicle drive motor magnetic steel products were sufficient to equip approximately 839,000 new energy passenger vehicles[12] - Revenue from energy-saving variable frequency air conditioning reached CNY 355 million, while wind power revenue was CNY 138 million[12] - Revenue from the robotics and industrial servo motor sector was CNY 58.36 million, marking a 34% year-on-year growth[12] Expenses and Impairments - Sales expenses increased by 64.97% to 10,189,910.26 from 6,176,782.94 due to business expenditures in the reporting period[8] - Research and development expenses increased to 71,827,115.07 from 58,826,903.24, marking a rise of about 22.1%[21] - Credit impairment losses showed a significant decrease of 123.66%, resulting in a loss of 945,646.13 compared to a gain of 3,996,011.13 in the previous period[8] - Asset impairment losses increased by 148.89% to -7,204,082.47 from -2,894,507.01, mainly due to an increase in inventory devaluation provisions[8] Other Income and Changes - Other income surged by 802.83% to 58,729,750.24 from 6,505,092.27, primarily due to government subsidies received during the reporting period[8] - Fair value changes in income decreased by 32.43% to 2,247,000.00 from 3,325,590.00, attributed to a reduction in forward foreign exchange income[8] Future Outlook - The company plans to continue expanding its market presence and exploring new product development opportunities[8] Audit Information - The company did not conduct an audit for the first quarter report, which may affect the reliability of the financial data presented[31]

Financial Performance - The company achieved a revenue of RMB 7,165.2 million in 2022, representing a growth of 75.6% compared to the previous year[3]. - Net profit attributable to the parent company was RMB 702.7 million, an increase of 55.1% year-on-year[3]. - The company reported a revenue of RMB 1.2 billion for the fiscal year 2022, representing a year-over-year increase of 15%[22]. - The company achieved operating revenue of RMB 7,165.2 million for the year ended December 31, 2022, an increase of RMB 3,085.1 million or 75.6% compared to RMB 4,080.1 million for the year ended December 31, 2021[29]. - The net profit attributable to the owners of the parent company for the year was RMB 702.7 million, representing a 55.1% increase from RMB 453.2 million in the previous year[30]. - The gross profit for the year was RMB 1,159.0 million, reflecting a gross margin of 16.18%[35]. - The company’s basic and diluted earnings per share for the year were RMB 0.84, an increase from RMB 0.65 in the previous year[29]. - The company’s operating profit before tax was RMB 766.7 million, indicating a significant growth trajectory[35]. - The company reported a net profit of RMB 704.6 million in 2022, a 55.2% increase from RMB 454.0 million in 2021, with a profit margin decrease from 11.1% to 9.8%[87]. Research and Development - Research and development expenses reached RMB 337.5 million, marking a significant increase of 110.7%[5]. - The company has allocated RMB 200 million for research and development in advanced materials technology[24]. - R&D expenses surged by 110.7% from RMB 160.2 million in 2021 to RMB 337.5 million in 2022, largely due to significant increases in testing materials and equipment costs[79]. - The company aims to enhance its R&D efforts to improve production technology and expand its product range, including reducing the use of heavy rare earths in high-performance materials[102]. Production Capacity and Expansion - The production capacity of high-performance rare earth permanent magnet materials has reached 23,000 tons annually, with plans to increase to 40,000 tons by 2025[3]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share by 2025[24]. - The company plans to achieve a production capacity of 40,000 tons of high-performance rare earth permanent magnet materials by 2025, up from 23,000 tons in 2022[52]. - The first phase of the Baotou production base has reached production capacity, increasing the annual output of high-performance neodymium-iron-boron permanent magnet materials to 23,000 tons[52]. - The company is investing in a project in Ningbo with an annual production capacity of 3,000 tons of high-end magnetic materials, expected to be operational in 2023[52]. Market Presence and Sales - The company’s products were adopted by eight of the top ten global manufacturers of variable frequency air conditioning compressors in 2022[14]. - In the new energy vehicle sector, the company generated revenue of 2,889.1 million yuan, a significant increase of 175.0% year-on-year, capturing approximately 28% of the global market share[48]. - The energy-efficient variable frequency air conditioning segment generated revenue of 1,832.2 million yuan, a growth of 30.9% year-on-year[63]. - The company is a leading supplier of high-performance neodymium-iron-boron permanent magnet materials, widely used in new energy vehicles, energy-efficient air conditioning, wind power, and industrial servo motors[43]. Environmental and Social Responsibility - The company’s high-performance rare earth permanent magnet materials contributed to a reduction of approximately 590 million tons of carbon emissions annually in the electric vehicle sector[14]. - The company received the PAS 2060 carbon neutrality certification, marking a significant achievement in its commitment to low-carbon development[67]. - The company aims to reduce greenhouse gas emissions and resource consumption by an average of 5% to 10% annually until achieving carbon neutrality[105]. - The company invested RMB 1.2 million in public welfare initiatives in 2022, including donations to local charities and scholarships[68]. Corporate Governance - The company has maintained high standards of corporate governance and compliance with relevant laws and regulations[130]. - The board of directors consists of 7 members, including 2 executive directors and 5 non-executive directors, with 3 independent non-executive directors, meeting the requirement of at least one-third independence[140]. - The company emphasizes the importance of internal control and has implemented measures to enhance internal audit supervision and compliance training[136]. - The company has established a performance evaluation system for senior management, ensuring that compensation reflects responsibilities and performance[137]. Shareholder Information - The largest shareholder, Jiangxi Ruide Venture Investment Co., Ltd., holds 28.87% of the shares, totaling 241,937,600 shares[115]. - The total number of shares held by the top three shareholders accounts for approximately 59.81% of the total share capital[117]. - The company proposed a final cash dividend of RMB 2.60 per 10 shares for the year ending December 31, 2022, totaling approximately RMB 217.9 million[173]. - The company will withhold a 10% corporate income tax on cash dividends distributed to non-resident enterprise shareholders listed in the H-share register[174]. Strategic Partnerships and Collaborations - The company has initiated a strategic partnership with Mitsubishi Electric to enhance technology sharing and product innovation[20]. - The company has established stable strategic partnerships with major rare earth suppliers, including Northern Rare Earth Group, and has been recognized as a "Quality Customer" for two consecutive years[53]. Future Outlook - The company expects a revenue growth forecast of 10% for the next fiscal year, driven by new product launches and market expansion[22]. - Future outlook includes potential mergers and acquisitions to enhance market position and technological capabilities[116]. - The company aims to establish a national enterprise technology center and increase R&D investment to convert technological achievements into customer orders[109].

Financial Performance - The company achieved a revenue of RMB 7,165.2 million for the year ended December 31, 2022, representing a growth of 75.6% compared to the previous year[3]. - The net profit attributable to the parent company was RMB 702.7 million, an increase of 55.1% year-on-year[3]. - The company reported a revenue of RMB 1.5 billion for the fiscal year 2022, representing a year-over-year growth of 15% compared to RMB 1.3 billion in 2021[22]. - The gross profit margin improved to 35% in 2022, up from 30% in the previous year, indicating better cost management and pricing strategies[22]. - The company reported a net profit of RMB 300 million for 2022, a 20% increase from RMB 250 million in 2021, reflecting strong operational performance[22]. - The company achieved operating revenue of RMB 7,165.2 million for the year ended December 31, 2022, an increase of RMB 3,085.1 million or 75.6% compared to RMB 4,080.1 million for the year ended December 31, 2021[29]. - The net profit attributable to the owners of the parent company for the year was RMB 702.7 million, representing an increase of 55.1% from RMB 453.2 million in the previous year[30]. - The net cash flow from operating activities was RMB 310.1 million, up 204.7% from RMB 101.8 million for the year ended December 31, 2021[30]. - The basic and diluted earnings per share for the year were RMB 0.84, compared to RMB 0.65 in the previous year, reflecting a growth of 29.2%[29]. - The company achieved a total environmental and occupational safety expenditure of approximately RMB 24.4 million, a year-on-year increase of 40.6%[68]. Research and Development - Research and development expenses reached RMB 337.5 million, marking a significant increase of 110.7%[5]. - The company is investing RMB 200 million in R&D for new technologies, including advanced magnetic materials and energy-efficient products, expected to launch in Q3 2023[22]. - The company’s R&D expenses reached 337.5 million yuan in 2022, a 110.7% increase year-on-year, accounting for 4.7% of operating revenue[52]. - The grain boundary diffusion technology can reduce the use of heavy and medium rare earth materials by 50% to 70%, significantly lowering production costs for clients in the wind power industry[49]. - The company has received multiple domestic and international patents for its grain boundary diffusion technology, reinforcing its competitive edge in the industry[54]. Production Capacity and Expansion - The production capacity of high-performance rare earth permanent magnet materials has reached 23,000 tons, with plans to increase it to 40,000 tons by 2025[3]. - The company plans to expand its production capacity by 20% in 2023 to meet increasing demand for high-performance rare earth permanent magnet materials[20]. - The company produced 12,786 tons of high-performance rare earth permanent magnet materials in 2022, with 9,965 tons produced using the grain boundary diffusion technology, representing a year-on-year increase of 64.33%[51]. - The company plans to increase its production capacity to 40,000 tons of high-performance rare earth permanent magnet materials by 2025, with current capacity at 23,000 tons[52]. - The company is investing in a project in Ningbo to produce 3,000 tons of high-end magnetic materials and 100 million sets of components, expected to be operational in 2023[100]. Market Position and Partnerships - The company’s products were adopted by eight of the top ten global manufacturers of variable frequency air conditioning compressors in 2022[14]. - The company has established strategic partnerships with key players in the renewable energy sector to enhance its market reach and product development capabilities[20]. - The company has established long-term stable partnerships with leading enterprises in various sectors, enhancing its market position[43]. - The company is a key supplier for eight of the top ten manufacturers of variable frequency air conditioning compressors globally[48]. - The company has established stable strategic partnerships with major rare earth suppliers, including Northern Rare Earth Group and China Rare Earth Group, to mitigate the impact of raw material price fluctuations[53]. Environmental and Sustainability Initiatives - The company’s high-performance rare earth permanent magnet materials contributed to a reduction of approximately 590 million tons of carbon emissions annually through the sales of new energy vehicles[14]. - The company has been recognized for its ESG initiatives, including achieving carbon neutrality certification from SGS in 2022[55]. - The company aims to support global carbon neutrality goals by focusing on R&D, production, and sales of high-performance permanent magnet materials[99]. - The company aims to achieve an average annual reduction of 5% to 10% in greenhouse gas emissions and energy consumption, working towards long-term carbon neutrality goals[105]. Shareholder Structure and Corporate Governance - As of December 31, 2022, Jiangxi Jinli Permanent Magnet Technology Co., Ltd. had a major shareholder, Jiangxi Ruide Venture Investment Co., Ltd., holding 28.87% of shares, totaling 241,937,600 shares[115]. - The top ten shareholders collectively held significant stakes, with the largest shareholder controlling approximately 37.00% of the total equity[117]. - The company has seen fluctuations in shareholding, with notable changes in the holdings of various institutional investors[118]. - The company maintains high standards of corporate governance and complies with relevant laws and regulations[130]. - The company ensures equal rights for all shareholders during general meetings, adhering to its articles of association and legal requirements[131]. Future Outlook and Strategic Goals - The company aims to expand its high-end production capacity and enhance technological innovation as part of its strategic goals for 2023[3]. - The company has set a target of achieving a compound annual growth rate (CAGR) of 10% over the next five years, driven by market expansion and new product launches[22]. - The company aims to enter the Southeast Asian market by the end of 2023, targeting a market share of 15% within two years[20]. - The 2023 operational plan emphasizes customer orientation, international layout, and innovation to enhance production efficiency and quality[106]. - The company plans to strengthen quality control and lean management to reduce quality costs and enhance supply chain capabilities[110].

Financial Performance - The company's operating revenue for Q3 2022 was CNY 1,909,642,860.44, representing a 72.15% increase compared to the same period last year[4] - Net profit attributable to shareholders for Q3 2022 was CNY 222,899,929.70, up 70.04% year-on-year[4] - The net profit after deducting non-recurring gains and losses was CNY 209,079,846.21, reflecting a 67.39% increase compared to the previous year[4] - The basic earnings per share for Q3 2022 was CNY 0.2665, an increase of 41.68% year-on-year[4] - The company achieved operating revenue of 5,213.44 million RMB, a year-on-year increase of 78.66%[15] - Net profit attributable to shareholders reached 686.73 million RMB, reflecting a 95.41% year-on-year growth[15] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 10,738,233,316.69, a 77.47% increase from the previous year[4] - Total liabilities as of September 30, 2022, were CNY 4,002,604,425.97, compared to CNY 3,084,432,607.33 at the beginning of the year, showing an increase of approximately 29.7%[20] - Current assets totaled CNY 8,724,915,669.15, an increase from CNY 4,564,960,472.54 at the start of the year, representing an increase of approximately 91.5%[17] Equity and Reserves - Equity attributable to shareholders increased to CNY 6,733,564,230.23, marking a 127.07% rise compared to the previous year[4] - Capital reserves increased by 244.95% to CNY 4,456,599,486.18, following the completion of H-share listing and fundraising[9] - The company's equity attributable to shareholders reached CNY 6,733,564,230.23, up from CNY 2,965,400,071.66, reflecting an increase of about 126.5%[21] Cash Flow - Cash flow from operating activities reached 4,081,748,934.70, compared to 2,272,811,573.16 in the previous period, showing strong operational cash generation[32] - Cash flow from investing activities resulted in a net outflow of 632,588,927.81, compared to a net outflow of 502,976,843.00 in the prior period, indicating increased investment activity[34] - Cash flow from financing activities generated a net inflow of 2,793,933,430.54, significantly higher than 882,640,854.42 in the previous period, reflecting robust financing efforts[36] Operational Metrics - The company produced 6,875 tons of high-performance rare earth permanent magnet materials, a 58.56% increase year-on-year, accounting for 72.21% of total product output[15] - Revenue from the new energy vehicle and auto parts sector reached 1.91 billion RMB, up 189.75% year-on-year[15] - Revenue from energy-saving variable frequency air conditioning reached 1.43 billion RMB, a 31.84% increase year-on-year[15] - Revenue from the wind power sector was 653 million RMB, a decrease of 8.58% year-on-year, with a capacity of approximately 7.19 GW[15] Expenses and Financial Adjustments - Total operating costs amounted to CNY 4,467,907,009.91, compared to CNY 2,534,665,661.46 in the prior period, reflecting a growth of about 76.3%[23] - The net profit margin was impacted by a 638.33% increase in financial expenses, primarily due to foreign exchange losses[10] - The company experienced a 173.88% increase in taxes payable, amounting to CNY 37,045,742.95, due to business growth[9] Investments and Future Plans - The company plans to invest approximately 100 million USD in a new project in Mexico focused on recycling and re-manufacturing used magnetic steel[15] - Long-term equity investments surged by 1453.29% to CNY 54,346,322.28, attributed to acquisition payments[8] - Research and development expenses surged by 116.72% to CNY 221,078,951.52, reflecting increased investment in R&D[10]

Production Capacity and Sales - The company has achieved a production capacity of 23,000 tons per year for magnetic materials[11]. - The company has established production bases in Jiangxi (15,000 tons/year), Inner Mongolia (8,000 tons/year), and is constructing additional facilities in Ningbo and Inner Mongolia with a combined capacity of 15,000 tons/year[3][4]. - In the first half of 2022, the sales volume of new energy vehicle drive motor magnetic steel products reached approximately 992,000 units[12]. - The sales volume of energy-saving variable frequency air conditioning magnetic steel products was approximately 26.77 million units in the first half of 2022[12]. - The sales volume of wind power magnetic steel products was approximately 5.08 GW in the first half of 2022[12]. - Revenue from the new energy vehicle and automotive parts segment reached RMB 1,058.3 million in H1 2022, up from RMB 317.1 million in H1 2021, marking a significant increase[63]. - The company’s sales in the wind power sector reached 553 million CNY, a 13.00% increase year-on-year, with sales capable of equipping approximately 5.08 GW of installed capacity[90]. Financial Performance - The company achieved operating revenue of RMB 3,303.8 million for the six months ended June 30, 2022, an increase of 82.65% compared to RMB 1,808.8 million for the same period in 2021[61]. - Net profit attributable to the owners of the parent company was RMB 463.8 million, representing a growth of 110.51% from RMB 220.3 million in the previous year[62]. - The gross profit was RMB 678.2 million, with a gross margin of 20.5%, down from 24.6% in the previous year, primarily due to rising rare earth material prices[102]. - The net profit attributable to the parent company for the same period was RMB 463.8 million, up 110.51% from RMB 220.3 million in the previous year[98]. - The company’s revenue for the six months ended June 30, 2022, was RMB 3,303.8 million, an increase of RMB 1,495.0 million (82.6%) compared to RMB 1,808.8 million for the same period in 2021[98]. - Basic earnings per share for the period was RMB 0.55, compared to RMB 0.32 in the same period last year, reflecting a 71.9% increase[170]. Research and Development - The company’s R&D expenses amounted to 140.7 million CNY, reflecting an 80.1% year-on-year increase, constituting 4.26% of total revenue[92]. - Research and development expenses increased to RMB 140,658 thousand, a 79.9% rise compared to RMB 78,099 thousand in the previous year[170]. - The company has applied for multiple domestic and international patents for its proprietary grain boundary diffusion technology, which has received high recognition from clients across various fields[84]. - The company aims to enhance its R&D efforts to improve production technology and expand its product range, including reducing the use of heavy rare earths in high-performance materials[130]. Market Position and Strategy - The company is positioned as a leader in the new energy and energy-saving environmental protection sectors[12]. - The company is actively pursuing strategic initiatives in market expansion and new product development[12]. - The company is a supplier to eight of the top ten global new energy vehicle manufacturers[12]. - The company ranks second globally in the number of new energy passenger vehicles using high-performance neodymium-iron-boron permanent magnets in 2020[66]. - The company has established long-term stable partnerships with leading enterprises across various sectors, enhancing its market position[72]. Environmental and Sustainability Initiatives - The company has received SGS PAS 2060 carbon neutrality certification[12]. - The company targets an average annual reduction of 5% to 10% in unit emissions/energy consumption until achieving long-term carbon neutrality goals[132]. - The company has constructed a complete green industrial chain for rare earth permanent magnets, focusing on recycling and comprehensive utilization of rare earth materials[86]. - The company signed a strategic cooperation framework agreement with China Resources Power Holdings to develop multiple renewable energy projects[96]. Shareholder and Corporate Governance - The total number of shareholders as of June 30, 2022, was 50,953, with 50,547 holding A shares and 406 holding H shares[139]. - The largest shareholder, Cai Bao Gui, holds 280,353,456 A shares, representing approximately 39.43% of the total equity[141]. - The company is committed to maintaining high standards of corporate governance and regularly reviews its governance practices[133]. - The board of directors consists of two executive directors, three non-executive directors, and three independent non-executive directors, ensuring strong independence[138]. Cash Flow and Assets - The net cash flow from operating activities was RMB (573.9) million, compared to RMB (76.7) million in the same period last year[62]. - Cash flow from operating activities for the six months ended June 30, 2022, was a net outflow of RMB 573,889,000, compared to a net outflow of RMB 76,659,000 in the prior year[176]. - Total assets as of June 30, 2022, amounted to RMB 10,232,681 thousand, a significant increase from RMB 6,050,784 thousand at the end of 2021[172]. - The company's total liabilities were RMB 3,720,146 thousand, compared to RMB 3,084,433 thousand at the end of 2021, reflecting a 20.7% increase[173]. Acquisitions and Investments - The company completed acquisitions of 51% of Yinhai New Materials, 46% of Xinyang Yuanchuang, and 51% of Suzhou Yuange, enhancing vertical integration in the industry chain[95]. - The company is in the process of acquiring 51% of Yinhai New Materials, with the transaction still pending completion as of the report date[163]. - A total of HKD 1,008.0 million (25.0%) is designated for potential acquisitions, with HKD 52.8 million already utilized and HKD 955.2 million expected to be used by the end of 2023[161].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 1,508,713,746.90, representing a 90.17% increase compared to the same period last year[4]. - Net profit attributable to shareholders for Q1 2022 was CNY 163,829,220.36, a 61.57% increase year-over-year[4]. - The basic and diluted earnings per share for Q1 2022 were both CNY 0.21, reflecting a 40.00% increase compared to the adjusted figure of CNY 0.15 from the previous year[4]. - Operating revenue for the current period reached CNY 1,508,713,746.90, a 90.17% increase compared to CNY 793,345,464.15 in the previous period, driven by sales growth in new energy vehicles and wind power[8]. - The company reported a net cash outflow from operating activities of CNY -423,579,602.19, a significant decrease compared to CNY -30,336,430.75 in the previous year, indicating a 1,296.27% decline[4]. - Cash flow from operating activities generated CNY 1,476,334,318.48, compared to CNY 647,500,549.77 in the previous period, an increase of approximately 128.7%[29]. - The company reported a total of 8,783,120 restricted shares at the beginning of the period, with 1,375,320 shares released during the period, leaving 7,407,800 restricted shares at the end[12]. Assets and Liabilities - Total assets at the end of Q1 2022 amounted to CNY 9,664,485,442.22, a 59.72% increase from the previous year[4]. - Total current assets amounted to CNY 8,024,283,791.38, up from CNY 4,564,960,472.54 at the beginning of the year[14]. - Total liabilities increased to CNY 3,254,630,723.66 from CNY 3,084,432,607.33, marking an increase of approximately 5.5%[19]. - Long-term borrowings rose significantly to CNY 734,260,000.00 from CNY 411,810,000.00, indicating an increase of about 78.2%[17]. - Total non-current liabilities amounted to CNY 848,125,310.80, up from CNY 516,409,379.64, which is an increase of approximately 64.2%[17]. - Total current liabilities decreased to CNY 2,406,505,412.86 from CNY 2,568,023,227.69 at the beginning of the year[16]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 56,444, with no preferred shareholders[9]. - The largest shareholder, Jiangxi Ruide Venture Capital Co., Ltd., holds 28.93% of shares, amounting to 241,937,600 shares, with 4,800,000 shares pledged[10]. Cash Flow - Total cash inflow from operating activities was 1,940,126,137.68, while cash outflow was 698,972,301.35, resulting in a net cash flow of 1,241,153,836.33[30]. - Cash inflow from investment activities totaled 9,668,621.87, with cash outflow amounting to 329,315,884.49, leading to a net cash flow of -319,647,262.62[32]. - Cash inflow from financing activities reached 3,870,737,935.91, while cash outflow was 346,087,601.00, resulting in a net cash flow of 3,524,650,334.91[34]. - The ending cash and cash equivalents balance was 4,008,102,021.05, compared to 996,761,024.53 in the previous period[34]. - The company reported a significant increase in cash received from investment activities, rising from 135,265,860.58 to 9,668,621.87[31]. - Cash received from financing activities increased dramatically from 629,077,073.46 to 3,870,737,935.91, indicating strong capital inflow[34]. Expenses and Investments - Operating costs, including taxes and additional charges, totaled CNY 1,224,183,629.92, reflecting a 106.43% increase from CNY 592,303,423.72, primarily due to business growth and increased tax payments[8]. - Research and development expenses rose to CNY 58,826,903.24, an 81.55% increase from CNY 32,402,781.20, indicating a continued commitment to R&D investment[8]. - The company’s income tax expense increased by 91.72% to CNY 18,814,302.79 from CNY 9,813,456.06, reflecting profit growth during the reporting period[8]. - The company reported a significant increase in credit impairment losses, amounting to CNY -3,996,011.13, a 763.04% rise from CNY 602,677.49, due to higher provisions for bad debts[8]. - The company has reduced sales expenses by 31.28% to CNY 6,176,782.94 from CNY 8,988,198.78, mainly due to pandemic-related reductions in promotional activities[8]. Production and Sector Performance - In Q1 2022, the company achieved revenue of CNY 450 million in the new energy vehicle and auto parts sector, representing a year-on-year growth of 256.88%[13]. - The company produced 1,845 tons of high-performance rare earth permanent magnet materials, a year-on-year increase of 42.74%, accounting for 66.98% of total product output, up 16 percentage points from the previous year[13]. - The company’s revenue from the energy-saving variable frequency air conditioning sector reached CNY 403 million, a year-on-year increase of 12.72%[13]. - The company’s revenue from the wind power sector was CNY 282 million, reflecting a year-on-year growth of 46.14%[13]. Equity and Returns - Equity attributable to shareholders increased by 116.12% to CNY 6,408,732,462.02 compared to the previous year[4]. - The weighted average return on equity decreased by 3.13 percentage points to 3.13% compared to the previous year[4]. - Total equity attributable to the parent company increased to CNY 4,445,499,508.77 from CNY 1,291,955,175.85, a growth of approximately 244.3%[19]. - Other comprehensive income after tax attributable to the parent company was CNY 371,650.60, down from CNY 2,405,222.93 in the previous period[25]. Audit and Compliance - The company did not conduct an audit for the first quarter report[35].