Financial Performance - For the fiscal year ending December 31, 2024, the company achieved a revenue of RMB 6,763.3 million, representing a year-on-year growth of 1.13%[10] - The net profit attributable to the parent company was RMB 291.0 million, a decrease of 48.37% compared to the previous year[10] - The company generated a net cash flow from operating activities of RMB 507.9 million[10] - The gross profit margin decreased to 11.13% in 2024 from 16.07% in 2023, indicating a decline in profitability[46] - The basic and diluted earnings per share dropped by 47.62% to RMB 0.22 from RMB 0.42 in the previous year[40] - The net cash flow from operating activities was RMB 507.9 million, a significant decline of 66.53% from RMB 1,517.8 million in 2023[41] - The company reported a total revenue of RMB 1.2 billion for the fiscal year 2023, representing a year-over-year increase of 15%[34] - The company’s revenue for 2024 was RMB 6,763.3 million, representing a year-on-year growth of 1.13%, while net profit attributable to shareholders decreased by 48.37% to RMB 291.0 million[87] Production Capacity and Utilization - The company's production capacity utilization rate exceeded 90%, with high-performance magnetic material sales volume increasing by approximately 40% year-on-year, reaching a historical high[10] - The company plans to achieve a production capacity of 38,000 tons per year for high-performance rare earth permanent magnetic materials by the end of 2024[27] - By 2025, the company aims to establish a production capacity of 40,000 tons for high-performance rare earth permanent magnetic materials and advanced humanoid robot magnetic components[27] - The company aims to achieve a total production capacity of 60,000 tons of high-performance rare earth permanent magnet materials in the future[12] - The company produced approximately 29,300 tons of high-performance magnetic materials in 2024, representing a year-on-year increase of 39.48%[72] - The sales volume of high-performance magnetic materials reached about 20,900 tons in 2024, marking a year-on-year growth of 37.88%[72] Market Position and Sales Performance - The company has established a leading market position in key downstream sectors, including new energy vehicles and energy-efficient variable frequency air conditioning[10] - The sales revenue of the company's new energy vehicle drive motor magnetic steel products reached RMB 3,313.7 million, with a year-on-year sales volume growth of 38.62%[23] - The sales revenue from wind power magnetic steel products was RMB 497.0 million, with a year-on-year sales volume growth of 2.03%[23] - The sales revenue from energy-saving variable frequency air conditioning magnetic steel products reached RMB 1,540.4 million, with a year-on-year sales volume growth of 61.81%[23] - In 2024, the revenue from the robotics and industrial servo motor sector reached RMB 196.2 million, with a year-on-year sales volume growth of 5.17%[24] - The revenue from the 3C sector in 2024 was RMB 213.4 million, with a year-on-year sales volume growth of 104.54%[24] Research and Development - The company is focusing on R&D investments, with a budget increase of 10% for the upcoming fiscal year to support innovation[34] - New product development includes a next-generation Nd-Fe-B magnet, expected to enhance performance by 25%[34] - The company has a strong R&D capability, with over 90% of its high-performance rare earth permanent magnet materials produced using boundary diffusion technology in 2024[79] - The humanoid robot magnetic component business is expected to be a significant growth point, with initial small batch deliveries already made in 2024[95] - The company aims to reduce the proportion of heavy rare earths in high-performance neodymium-iron-boron permanent magnetic materials and enhance automation levels as part of its R&D efforts[142] Sustainability and ESG Initiatives - The company’s ESG score improved significantly to 56 points, reflecting its commitment to sustainable development[11] - The company has recycled 2,575 tons of rare earth raw materials, accounting for 30.4% of the total raw materials used in 2024[11] - The company is committed to sustainable development and aims to reduce carbon emissions through various initiatives, including the construction of photovoltaic power stations and increasing the proportion of green electricity[144] - The company contributed to a reduction of approximately 62.06 million tons of carbon emissions through its sales of magnetic steel products in various sectors[100] - The company invested approximately RMB 31.34 million in environmental protection and health safety during the reporting period[103] Strategic Partnerships and Market Expansion - The company has established long-term strategic partnerships with major rare earth suppliers, with 63.62% of its annual procurement amount coming from Northern Rare Earth Group and China Rare Earth Group in 2024[78] - The company is actively expanding into new application areas such as low-altitude aircraft and rail transportation[24] - The company plans to expand its market presence in Southeast Asia, targeting a 30% growth in that region by 2025[34] - The company has initiated a strategic partnership with a leading automotive manufacturer to supply rare earth materials for electric vehicles, aiming for a revenue contribution of RMB 300 million in 2024[34] Corporate Governance and Shareholding Structure - The company maintains high standards of corporate governance and complies with relevant laws and regulations[170] - The total number of shares held by the major shareholders reflects a concentrated ownership structure, with the top three shareholders controlling a significant portion of the equity[158] - The company has a significant presence in the market with multiple shareholders, including state-owned and private entities, indicating a diverse ownership structure[158] - The company has established a high-level management performance evaluation system based on responsibility, incentive, performance, and competition principles[183] - The company has confirmed that all directors and supervisors complied with the management regulations during the reporting period[176]

Dividend Distribution - The company plans to distribute a cash dividend of 1.2 RMB per 10 shares (including tax) to all shareholders, with no bonus shares issued[3]. - The company has achieved a cumulative cash dividend exceeding 1 billion RMB since its listing in 2018, with a cumulative dividend amount accounting for over 44% of the net profit attributable to shareholders[143]. - The company plans to distribute a cash dividend of 1.2 RMB per 10 shares for the 2024 fiscal year, with an expected total dividend amount of 164 million RMB, which would result in over 90% of the net profit attributable to shareholders being distributed as dividends[144]. - The company has committed to a long-term strategy of cash dividends, having initiated semi-annual cash dividends for the first time in 2024, amounting to 107 million RMB[144]. - The company implements a cash dividend policy prioritizing cash dividends over stock dividends, with annual profit distribution planned[191]. Financial Performance - The company reported a significant increase in revenue, with a year-on-year growth of 20% in the last fiscal year[15]. - The company's operating revenue for 2024 was approximately ¥6.76 billion, representing a 1.13% increase compared to ¥6.69 billion in 2023, but a decline from ¥7.17 billion in 2022[20]. - The net profit attributable to shareholders for 2024 was approximately ¥291 million, a decrease of 48.37% from ¥563 million in 2023 and down from ¥703 million in 2022[20]. - The net cash flow from operating activities for 2024 was approximately ¥508 million, a significant decrease of 66.53% from ¥1.52 billion in 2023[20]. - The company’s total revenue for 2024 reached ¥6,763,289,140.45, representing a year-on-year increase of 1.13% compared to ¥6,687,864,421.33 in 2023[82]. Market Expansion and Strategy - The company is focusing on expanding its market presence in Europe and North America, aiming for a 15% increase in market share by 2025[15]. - The company is exploring potential acquisitions to strengthen its supply chain and enhance production capabilities[15]. - The company has established long-term stable partnerships with leading enterprises across various sectors, including new energy vehicles, air conditioning, wind power, and robotics[47]. - The company has established subsidiaries in Hong Kong, Europe, Japan, the United States, Mexico, and South Korea, and aims to further expand its market presence based on customer demand[124]. - The company is actively expanding into markets such as 3C, low-altitude aircraft, and rail transportation, optimizing product and customer structures[127]. Research and Development - The company is investing in R&D for new high-performance neodymium-iron-boron permanent magnets, targeting a 25% improvement in energy density[15]. - The number of R&D personnel increased by 13.84% to 921 in 2024, compared to 809 in 2023[97]. - Research and development expenses for 2024 were ¥320,877,189.48, a decrease of 9.33% compared to ¥353,884,217.41 in 2023[95]. - The company is investing 100 million RMB in R&D for new technologies aimed at enhancing product efficiency[5]. - The company is actively pursuing new product development and technological advancements to enhance its competitive edge in the market[162]. Sustainability and ESG Initiatives - The company is committed to sustainability, with plans to reduce carbon emissions by 20% over the next three years[15]. - The company’s green electricity usage accounted for 26% of total electricity consumption in 2024, with a total photovoltaic power generation of 4.8 million kWh, reducing carbon emissions by 2,812 tons[77]. - The company achieved an S&P Global ESG Score of 56 in 2024, significantly improving from the previous year and ranking at the industry-leading level[78]. - The company emphasizes ESG construction and actively fulfills social responsibilities while improving its governance structure[143]. - The company is addressing foreign exchange risks due to increasing overseas sales, utilizing appropriate hedging strategies to manage currency fluctuations[137]. Production and Capacity - In 2024, the company produced approximately 29,300 tons of high-performance magnetic materials, a year-on-year increase of 39.48%, and sold about 20,900 tons, up 37.88%, achieving the highest production and sales in its history[49]. - The company has a five-year development plan aiming to achieve an annual production capacity of 40,000 tons of high-performance rare earth permanent magnet materials by 2025[51]. - The company’s high-performance rare earth permanent magnet material production capacity reached 32,000 tons in 2024, with a utilization rate exceeding 90%[72]. - The company plans to increase its production capacity of high-performance rare earth permanent magnet materials to 60,000 tons by 2027, with an investment in a green manufacturing project for 20,000 tons[123]. - The company has achieved over 90% capacity utilization in 2024, demonstrating effective operational efficiency despite market challenges[60]. Governance and Management - The company maintains strict compliance with information disclosure regulations, ensuring timely and accurate communication with investors[151]. - The company has established a robust governance structure with independent operational bodies, including a shareholders' meeting, board of directors, and supervisory board, ensuring no institutional overlap with controlling shareholders[156]. - The company reported a total compensation of 13,642,460 for its executives, with an additional 429,700 allocated for stock incentive plans, bringing the total to 14,072,160[161]. - The company is undergoing a management transition, with several key personnel changes scheduled for June 2024, including the appointment of Liu Qiu Jun as the new chairman of the supervisory board[161]. - The company has a significant focus on expanding its market presence, as indicated by the ongoing recruitment of experienced executives from various sectors[162].

Financial Performance - The estimated net profit attributable to shareholders for 2024 is expected to be approximately 270.57 million yuan, a decrease of 42%-52% compared to the previous year's 326.94 million yuan [3]. - The estimated net profit after deducting non-recurring gains and losses is expected to be around 160.57 million yuan, down 56%-67% from 216.94 million yuan in the previous year [3]. - The company anticipates a slight increase in annual operating revenue compared to the previous year, despite the decline in net profit [5]. - The net cash flow from operating activities is expected to be approximately 420 million yuan for 2024 [5]. - The financial data presented is preliminary and has not been audited by an external accounting firm [4]. - The company will provide detailed financial data in the 2024 annual report, urging investors to make cautious decisions [7]. Market Conditions - The average price of praseodymium-neodymium metal is expected to be 490,000 yuan per ton in 2024, a decrease of approximately 25% from 650,000 yuan per ton in 2023 [6]. - Increased personnel reserves and training costs at the Ningbo and Baotou factories have led to a temporary rise in unit costs and management expenses, impacting net profit [6]. Operational Highlights - The company achieved a capacity utilization rate exceeding 90% and recorded the highest sales volume of high-performance magnetic materials in its history [5]. - The company is actively expanding its business and preparing for production capacity increases despite the challenges posed by declining raw material prices [5].

Financial Performance - Q3 2024 revenue reached ¥1,652,552,718.25, an increase of 1.99% year-over-year[2] - Net profit attributable to shareholders was ¥77,206,457.68, a decrease of 52.24% compared to the same period last year[2] - The net profit after deducting non-recurring gains and losses was ¥55,240,877.21, down 63.25% year-over-year[2] - The company reported a significant increase in long-term equity investments by 571.46% to ¥43,648,262.48 due to increased investments in subsidiaries[5] - The net profit attributable to minority shareholders increased by 49.49% to CNY 23,421,416.00 due to the profitability of non-wholly-owned subsidiaries from the beginning of the year to the end of the reporting period[6] - The company recorded a government subsidy of ¥18,852,004.60 during the reporting period, contributing positively to its financial performance[4] - The company reported a basic earnings per share of ¥0.15, down from ¥0.37 in the previous period[18] - The company recorded total comprehensive income of approximately ¥173.50 million, a decrease of 64.80% from ¥492.09 million in the previous period[18] Cash Flow and Assets - Cash flow from operating activities for the year-to-date was ¥207,073,018.35, a decline of 74.65% compared to the previous year[2] - The net cash flow from operating activities decreased by 74.65% to CNY 207,073,018.35, primarily due to increased material procurement expenses and reduced cash received from sales[6] - The net cash flow from investing activities worsened by 54.64% to -CNY 615,065,290.14, mainly due to increased fixed asset purchases and external investments[6] - The net cash flow from financing activities improved by 79.62% to -CNY 128,910,143.19, primarily due to a reduction in debt repayments[6] - The company's cash and cash equivalents decreased from CNY 3.89 billion at the beginning of the year to CNY 3.07 billion[13] - The total cash and cash equivalents at the end of the period were 2,622,047,289.46 CNY, down from 3,186,454,175.49 CNY at the beginning of the period[20] - The company incurred cash outflows for investment activities totaling 755,096,204.46 CNY, compared to 399,308,626.58 CNY in the previous year[20] Operating Costs and Expenses - Total operating costs increased to approximately ¥4.89 billion, up 7.23% from ¥4.56 billion in the previous period[16] - Sales expenses rose by 56.44% to CNY 33,216,516.20, primarily due to increased market expansion costs and employee compensation[6] - Research and development expenses for the current period are approximately ¥230.04 million, down 10.31% from ¥256.43 million in the previous period[17] - The company’s tax expenses for the current period are approximately ¥18.06 million, down from ¥38.37 million in the previous period[17] - The company’s financial expenses improved, with a net financial expense of approximately -¥24.25 million, compared to -¥42.06 million in the previous period[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 58,617[7] - The largest shareholder, Jiangxi Ruide Venture Capital Co., Ltd., holds 28.78% of the shares, amounting to 387,100,160 shares[7] Investment and Research - The company is actively investing in R&D for humanoid robot magnets and components, aiming to enhance production management automation and efficiency[12] - The company experienced a 38.37% reduction in short-term borrowings, totaling ¥247,078,039.95, as subsidiaries repaid part of their loans[5] - The company has been executing price-lock orders signed with certain customers when rare earth material prices were relatively high, which has improved profitability[12] Market Conditions - The average price of rare earth materials, specifically metal praseodymium and neodymium, decreased by approximately 28.69% year-on-year, impacting raw material costs[12] - The company's gross profit margin for the first three quarters of 2024 was 10.03%, with a third-quarter gross profit margin of 12.81%[12] - The company's capacity utilization rate exceeded 90%, and the production and sales volume of high-performance magnetic materials increased by about 40% year-on-year[12]

Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.8 per 10 shares for the first half of 2024, amounting to approximately RMB 107 million, which represents about 90% of the net profit attributable to the parent company for that period[6]. - Since its listing in 2018, the company has distributed a total cash dividend of approximately RMB 952 million, accounting for over 40% of the cumulative net profit attributable to the parent company[6]. - The company proposed an interim dividend of RMB 0.8 per share (tax included) for the six months ended June 30, 2024[36]. - The company plans to distribute a cash dividend of RMB 0.8 per share, totaling approximately RMB 107 million, which accounts for about 90% of the net profit for the first half of 2024[62]. - The declared and paid final dividend was RMB 0.26 per share, totaling RMB 347,677,000 for the six months ended June 30, 2024, compared to RMB 218,163,000 for the same period in 2023[186]. Financial Performance - For the six months ended June 30, 2024, the company reported operating revenue of RMB 3,361.5 million, a decrease of RMB 68.5 million or 2.00% compared to RMB 3,430.0 million for the same period in 2023[36]. - The net profit attributable to the owners of the parent company for the reporting period was RMB 119.7 million, representing a decrease of approximately 64.02% from RMB 332.6 million for the six months ended June 30, 2023[36]. - The gross profit for the reporting period was RMB 291.2 million, a decrease of RMB 248.0 million or 46.00% compared to the previous year[35]. - Basic and diluted earnings per share for the reporting period were RMB 0.09, down 64.00% from RMB 0.25 in the same period last year[35]. - The net cash flow from operating activities for the reporting period was RMB 330.8 million, down 57.55% from RMB 779.2 million for the same period in 2023[36]. - The company reported a profit attributable to ordinary shareholders of RMB 119,677 thousand for the six months ended June 30, 2024, down from RMB 332,603 thousand in the same period of 2023[184]. - The company's total assets as of June 30, 2024, were RMB 11,372,910 thousand, a decrease from RMB 11,825,956 thousand at the end of 2023[156]. - The company's cash and cash equivalents were RMB 2,930,136 thousand, down from RMB 3,156,726 thousand, indicating a decrease of 7.2%[156]. - The company reported a net loss of RMB 201,000 from the sale of assets with a net book value of RMB 8,543,000 for the six months ended June 30, 2024[187]. Market Position and Product Utilization - The company's products are utilized by eight out of the top ten global variable frequency air conditioning compressor manufacturers, and five out of the top ten wind turbine manufacturers[7]. - The sales volume of the company's new energy vehicle drive motor magnetic steel products can equip approximately 2.45 million new energy passenger vehicles[7]. - The sales volume of the company's energy-saving variable frequency air conditioning magnetic steel products can equip approximately 46.37 million variable frequency air conditioning compressors[7]. - The sales volume of the company's wind power magnetic steel products can equip wind turbines with a total installed capacity of approximately 5.73 GW[7]. - The company has consistently maintained a leading position in the industry, with a focus on high-performance rare earth permanent magnet materials[7]. Research and Development - The company aims to expand its market presence and enhance its product offerings through ongoing research and development initiatives[7]. - The company is focusing on the development of rare earth permanent magnet materials, which have seen significant advancements since the 1960s[32]. - R&D expenses for the first half of 2024 amounted to RMB 153 million, accounting for 4.55% of operating revenue[56]. - The production of high-performance rare earth permanent magnet materials using grain boundary diffusion technology increased by 52% year-on-year, representing 88% of the total product output[68]. - The company is actively involved in the research and development of magnetic components for humanoid robots, aligning with global market trends[49]. Market Trends and Projections - The 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%[39]. - The consumption of rare earth permanent magnet materials in the global new energy vehicle market rose from 6,400 tons in 2018 to 43,200 tons in 2023, achieving a CAGR of about 46.5%[41]. - The global energy-efficient variable frequency air conditioning market's consumption of rare earth permanent magnet materials grew from 6,300 tons in 2018 to 12,900 tons in 2023, with a CAGR of approximately 15.4%[42]. - The global wind power market's consumption of rare earth permanent magnet materials increased from 6,700 tons in 2018 to 12,800 tons in 2023, reflecting a CAGR of about 13.8%[43]. - The global consumption of high-performance rare earth permanent magnet materials is projected to reach 227,100 tons by 2028, with a CAGR of 17.2% from 2023 to 2028[39]. Strategic Initiatives - The company is planning to issue up to 26,895,424 new H shares as part of its capital raising strategy[29]. - The company has formed strategic partnerships with major rare earth suppliers, ensuring a stable supply chain and mitigating the impact of price fluctuations[55]. - The company is actively pursuing market expansion strategies and exploring new technologies in the rare earth sector[32]. - The company plans to build a production capacity of 40,000 tons of high-performance rare earth permanent magnetic materials by 2025, with a current capacity utilization rate exceeding 90%[54]. - The company is committed to ESG initiatives, focusing on reducing carbon emissions and supporting global carbon neutrality goals through various measures, including the construction of photovoltaic power stations[97]. Shareholder and Governance Structure - Major shareholders include Cai Baogui, Hu Zhibin, and Li Xinnong, each holding significant stakes in the company, with Cai Baogui controlling approximately 36.85% of the A shares[109]. - The company has a significant ownership structure with multiple layers of control among its major shareholders, impacting governance and decision-making[112]. - The company has adopted a restricted stock incentive plan to motivate qualified management and employees[32]. - The new board includes a strategic committee led by the newly appointed chairman, with a focus on enhancing corporate governance and strategic direction[107]. - The company continues to focus on enhancing its corporate governance structure and shareholder engagement strategies[107]. Risks and Challenges - The company faces risks from fluctuations in rare earth material prices, which have shown significant volatility in the first half of 2024, potentially impacting revenue and profit growth[142]. - The company is expanding its overseas market presence, which exposes it to geopolitical and economic risks, as well as currency exchange rate fluctuations affecting sales revenue[144]. - The company has a significant amount of accounts receivable, which could impact cash flow if collection efforts are unsuccessful; however, it has implemented strict management measures to mitigate this risk[146]. - The company is actively monitoring national policies and market dynamics in key application areas like new energy vehicles and energy-saving technologies to adapt to potential economic slowdowns[143].

Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.8 per share (before tax), totaling approximately RMB 107 million, which represents about 90% of the net profit attributable to the parent company for the first half of 2024[5]. - Since its listing in 2018, the company has distributed a cumulative cash dividend of approximately RMB 952 million, accounting for over 40% of the cumulative net profit attributable to the parent company[5]. - The company proposed an interim dividend of RMB 0.8 per 10 shares (tax included) for the six months ended June 30, 2024[35]. - The company plans to propose a 10% withholding tax on cash dividends distributed to non-resident corporate shareholders listed in the H-share register, in accordance with the Corporate Income Tax Law of the People's Republic of China[99]. - For individual investors through the Shanghai-Hong Kong Stock Connect, the company will withhold income tax at a rate of 20% on dividends received from H-shares[100]. Financial Performance - For the six months ended June 30, 2024, the company reported operating revenue of RMB 3,361.5 million, a decrease of RMB 68.5 million or 2.00% compared to RMB 3,430.0 million for the same period in 2023[34]. - The net profit attributable to the owners of the parent company for the same period was RMB 119.7 million, representing a decrease of approximately 64.02% from RMB 332.6 million in the previous year[34]. - The net cash flow from operating activities was RMB 330.8 million, down 57.55% from RMB 779.2 million for the six months ended June 30, 2023[34]. - The basic and diluted earnings per share for the reporting period were RMB 0.09, a decrease of 64.00% from RMB 0.25 in the previous year[34]. - The gross profit for the reporting period was RMB 291.2 million, a decline of RMB 248.0 million or 46.00% compared to the previous year[34]. Market Position and Expansion - The company maintains a leading position in the industry, with eight of the top ten global variable frequency air conditioning compressor manufacturers as customers[6]. - The company has plans for market expansion and potential mergers and acquisitions to strengthen its market presence[2]. - The company is exploring market expansion opportunities and potential mergers and acquisitions to enhance its competitive position[32]. - The company is actively expanding into robotics and industrial servo motors, becoming a key supplier of high-performance magnetic steel in these sectors[62]. Research and Development - The company is committed to continuous research and development of new products and technologies to enhance its market competitiveness[2]. - In the first half of 2024, the company's R&D expenses amounted to RMB 153 million, accounting for 4.55% of operating revenue[55]. - The company plans to enhance its R&D efforts to improve production technology and expand its product range, focusing on high-performance magnetic materials and components[95]. Rare Earth Materials Market - The 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%[38]. - The consumption of rare earth permanent magnet materials in the global new energy vehicle market rose from 6,400 tons in 2018 to 43,200 tons in 2023, achieving a CAGR of about 46.5%[40]. - The global energy-efficient variable frequency air conditioning market's consumption of rare earth permanent magnet materials increased from 6,300 tons in 2018 to 12,900 tons in 2023, with a CAGR of approximately 15.4%[41]. - The global wind power market's consumption of rare earth permanent magnet materials grew from 6,700 tons in 2018 to 12,800 tons in 2023, with a CAGR of about 13.8%[42]. Operational Efficiency and Cost Management - The management is committed to improving operational efficiency and cost management in response to the declining revenue and profit margins[32]. - The company continues to focus on the development of rare earth permanent magnet materials, which are critical for various industrial applications[32]. - The company has formed strategic partnerships with major rare earth suppliers, mitigating the impact of price fluctuations on operational performance[54]. Shareholder Structure and Governance - The company has a total of 1,345,236,723 shares issued, including 200,745,600 H shares and 1,144,491,123 A shares, with 8,015,784 A shares being treasury shares[111]. - The major shareholders hold approximately 36.85% of the A shares and 10.05% of the H shares, indicating significant control over the company[108]. - The company has established various committees, including a strategy committee and an audit committee, with specific members appointed to lead these committees[106]. - The company has no changes in the information of directors, supervisors, and senior management that require disclosure during the reporting period[106]. Risks and Challenges - The company faces risks from fluctuations in rare earth material prices, which have shown significant volatility in the first half of 2024, potentially impacting revenue and profit growth[141]. - The company is actively monitoring national policies and market dynamics in key application areas, including new energy vehicles and energy-saving technologies, to adapt to potential economic slowdowns[142]. - The company has a significant amount of accounts receivable, which poses a risk to cash flow if collection efforts are unsuccessful; however, management has implemented measures to assess customer creditworthiness and monitor receivables[145]. Capital Raising and Investments - The company plans to issue up to 26,895,424 H-shares at a price of HKD 8.19 per share, pending shareholder approval[13]. - The company has agreed to acquire 19.647 million shares of Hastings at a subscription price of AUD 0.36 per share, totaling approximately AUD 7.07 million, which will increase its stake to 9.8%[148]. - The company has reallocated funds originally intended for potential acquisitions to the new project of building a production line for 1 million magnetic components annually in Mexico[137]. Employee and Incentive Plans - The company established an equity incentive plan, granting a total of 8,252,000 restricted shares to 221 participants, recognizing their contributions[194]. - The total number of shares reserved for future grants includes 418,000 shares of the second type, equivalent to 1,070,080 A-shares after the capital increase in July 2023[194]. - The company aims to attract and retain talent through the restricted stock incentive plan, aligning interests with shareholders[122].

Financial Performance - The company's operating revenue for the reporting period was CNY 3,361,531,541, a decrease of 2.00% compared to the same period last year[14]. - The net profit attributable to shareholders was CNY 119,677,231, representing a significant decline of 64.02% year-on-year[14]. - The net profit after deducting non-recurring gains and losses was CNY 34,004,612, down 88.18% from the previous year[14]. - The net cash flow from operating activities was CNY 330,759,613, a decrease of 57.55% compared to the same period last year[14]. - The basic earnings per share were CNY 0.09, down 64.00% from CNY 0.40 in the same period last year[14]. - The total assets at the end of the reporting period were CNY 11,372,910,248.99, a decrease of 3.83% from the end of the previous year[14]. - The net assets attributable to shareholders decreased to CNY 6,777,737,625.06, down 3.47% from the previous year[14]. - Revenue for the first half of 2024 was approximately CNY 3.36 billion, a decrease of 2.00% compared to the same period last year[36]. - The company's net profit attributable to shareholders for the first half of 2024 was CNY 119.68 million, a decrease of 64.02% year-on-year[29]. Dividend Distribution - The company reported a cash dividend of 0.8 RMB per 10 shares (including tax) for the first half of 2024[2]. - The company's board of directors has approved the profit distribution plan, which reflects its commitment to returning value to shareholders[2]. - The company plans to distribute a cash dividend of CNY 0.8 per 10 shares, totaling approximately CNY 107 million, which represents about 90% of the net profit for the first half of 2024[31]. - The total cash dividend amount for the first half of 2024 is approximately CNY 106.98 million, based on a share capital of 1,337,220,939 shares[68]. - The cash dividend for the first half of 2024 represents 100% of the profit distribution total[68]. Market and Industry Outlook - The global consumption of high-performance rare earth permanent magnets is projected to grow from 102,500 tons in 2023 to 227,100 tons by 2028, with a compound annual growth rate of 17.2%[19]. - The company is positioned in a rapidly growing market for high-performance rare earth permanent materials, which are essential for energy-saving and environmentally friendly applications[19]. - The government policies are strongly supporting the development of the rare earth permanent magnet industry, aligning with the global push for carbon neutrality[19]. - The global consumption of rare earth permanent magnetic materials in the electric vehicle market is projected to grow from 0.64 million tons in 2018 to 4.32 million tons in 2023, with a compound annual growth rate (CAGR) of approximately 46.5%[21]. - The global market for energy-efficient variable frequency air conditioners is expected to consume 2.27 million tons of rare earth permanent magnetic materials by 2028, with a CAGR of approximately 12.0% from 2023 to 2028[21]. - The global wind power market's consumption of rare earth permanent magnetic materials is projected to increase from 0.67 million tons in 2018 to 1.28 million tons in 2023, with a CAGR of about 13.8%[23]. - The global industrial robot market is expected to consume 0.66 million tons of rare earth permanent magnetic materials by 2028, with a CAGR of 13.5% from 2023 to 2028[24]. - The global humanoid robot market is projected to consume 2,887.5 tons of rare earth permanent magnetic materials by 2028, with a CAGR of approximately 162.2% from 2023 to 2028[24]. Research and Development - Research and development expenses for the first half of 2024 amounted to CNY 153 million, accounting for 4.55% of total revenue[30]. - The production of high-performance rare earth permanent magnet materials using boundary penetration technology increased by 52% year-on-year, constituting 88% of the company's total output[30]. - The company has a total of 119 authorized and pending patents in various regions, enhancing its competitive edge in high-performance magnetic materials[30]. Risk Management - The company emphasizes the importance of risk awareness regarding future development plans and operational strategies[2]. - The company acknowledges the risks it faces and outlines measures to mitigate these risks in its management discussion[2]. - The company has established long-term strategic partnerships with major rare earth suppliers, including Northern Rare Earth Group and China Rare Earth Group[33]. - The company is actively expanding its overseas market presence, which may expose it to geopolitical and currency exchange risks[58]. - The company has implemented measures to manage accounts receivable risks, ensuring a good overall collection situation[60]. Environmental, Social, and Governance (ESG) Initiatives - The company has been recognized for its ESG efforts, including a CNY 1 million donation for rural revitalization and being listed as a three-star green factory in Ningbo[31]. - The company has established an ESG committee to oversee environmental, social, and governance initiatives[77]. - The company has implemented measures to reduce carbon emissions through various strategies, including the construction of solar power stations and technological innovations[77]. - The company invested approximately 6.3 million yuan in environmental protection in the first half of 2024[75]. - The company paid 0.04 million yuan in environmental protection tax during the same period[75]. Shareholding Structure - The company has a significant shareholding structure, with major stakeholders including Jiangxi Ruide Venture Capital Co., Ltd. and Ganzhou Xinshi Investment Management Center[5]. - The largest shareholder, Jiangxi Ruide Venture Capital Co., Ltd., holds 28.78% of shares, totaling 387,100,160 shares[102]. - HKSCC NOMINEES LIMITED holds 14.92% of shares, amounting to 200,745,600 shares[102]. - The top ten shareholders collectively hold 89.12% of the shares, indicating a high concentration of ownership[103]. - The company has seen no changes in the number of shares held by major shareholders during the reporting period[104]. Financial Position - The company maintains a strong financial position with low debt levels and good cash reserves, enhancing its financing capabilities[35]. - Cash and cash equivalents at the end of the reporting period were 3,558,891,710.32 RMB, representing 31.29% of total assets[41]. - The net increase in cash and cash equivalents was negative CNY 226.59 million, a decline of 253.20% compared to the previous year[37]. - The company's cash and cash equivalents decreased from ¥3,885,757,157.90 to ¥3,558,891,710.32, a decline of approximately 8.4%[112]. Accounting Policies and Financial Reporting - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, reflecting the financial position as of June 30, 2024, and the operating results and cash flows for the first half of 2024[141]. - The company has established specific accounting policies and estimates based on its actual production and operational characteristics, particularly in inventory valuation, fixed asset depreciation, and revenue recognition[140]. - The company’s significant accounting policies include a materiality threshold for bad debt provisions set at amounts greater than 10 million RMB for receivables and 30 million RMB for construction in progress[144]. - The company’s reporting currency is Renminbi (RMB), and all financial information is presented in RMB unless otherwise specified[142].

证券代码：300748 证券简称：金力永磁 公告编号：2024-037 江西金力永磁科技股份有限公司 2023 年年度股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 本次股东大会未出现否决议案的情形。 一、会议召开情况 1、会议通知情况： 江西金力永磁科技股份有限公司（以下简称"公司"）于 2024 年 5 月 15 日 在中国证监会指定的创业板上市公司信息披露媒体上发布了《关于召开公司 2023 年年度股东大会的公告》（公告编号：2024-035）。 2、会议召开时间： （1）现场会议时间：2024 年 6 月 5 日（星期三）下午 14:30 （2）网络投票时间：2024 年 6 月 5 日 其中，通过深圳证券交易所交易系统进行网络投票的时间为 2024 年 6 月 5 日上午 09:15—09:25，09:30—11:30 和下午 13:00—15:00；通过深圳证券交易所 互联网投票系统投票的具体时间为 2024 年 6 月 5 日 9:15—15:00 的任意时间。 3、会议召开地点：江西省赣州市章贡区水东镇虔东大道 1 ...

证券代码：300748 证券简称：金力永磁 公告编号：2024-038 特此公告。 江西金力永磁科技股份有限公司 董事会 2024 年 6 月 5 日 江西金力永磁科技股份有限公司 关于完成董事会换届选举的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 江西金力永磁科技股份有限公司（以下简称"公司"）于 2024 年 6 月 5 日召 开 2023 年年度股东大会审议通过《关于董事会换届选举暨提名公司第四届董事 会非独立董事候选人的议案》、《关于董事会换届选举暨提名公司第四届董事会独 立董事候选人的议案》等议案，同意选举蔡报贵先生、胡志滨先生、李忻农先生、 吕锋先生、梁敏辉先生、李晓光先生为公司第四届董事会非独立董事，其中，蔡 报贵先生和吕锋先生为执行董事，胡志滨先生、李忻农先生、梁敏辉先生、李晓 光先生为非执行董事；同意选举朱玉华先生、徐风先生、曹颖女士为公司第四届 董事会独立非执行董事。上述人员共同组成公司第四届董事会，公司第四届董事 会任期自公司股东大会审议通过相关议案之日起三年。 上述人员均符合法律、法规所规定的上市公司董事任职资格，不存在《公司 ...

证券代码：300748 证券简称：金力永磁 公告编号：2024-036 江西金力永磁科技股份有限公司 关于 2020 年限制性股票激励计划部分已授予但尚未解除限售的限 制性股票回购注销完成的公告 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。 特别提示： 1、公司本次回购注销的限制性股票涉及 7 人，回购注销的股票数量共计 94,772 股，占回购前公司总股本的 0.01%，回购价格为 8.0484 元/股，回购资金总额为 762,762.96 元。 2、经中国证券登记结算有限责任公司深圳分公司审核确认，公司本次部分限 制性股票回购注销事宜已办理完成。 3、本次部分限制性股票回购注销完成后，公司 A 股股份总数由 1,144,025,635 股变更为 1,143,930,863 股，总股本由 1,344,771,235 股变更为 1,344,676,463 股。 江西金力永磁科技股份有限公司（以下简称"公司"或"金力永磁"）于 2023 年 10 月 25 日召开的第三届董事会第二十二次会议和第三届监事会第十九次会议， 审议通过了《关于回购注销 2020 年限 ...