证券代码：000795 证券简称：英洛华 公告编号：2025-054 英洛华科技股份有限公司 第十届董事会第十一次会议决议公告 表决结果：9 票同意、0 票反对、0 票弃权。 （二）审议通过了《公司关于调整第十届董事会专门委员会成员的议案》。 鉴于公司董事会成员调整，为保证董事会专门委员会正常有序开展工作，根 据《公司法》《公司章程》及董事会各专门委员会实施细则等有关规定，公司第 十届董事会专门委员会成员调整如下： 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。 一、董事会会议召开情况 英洛华科技股份有限公司（以下简称"公司"）第十届董事会第十一次会议 于 2025 年 9 月 1 日以书面或电子邮件等方式通知全体董事，于 2025 年 9 月 5 日在公司办公楼 A215 会议室以现场结合通讯的方式召开。本次会议由董事长魏 中华先生主持，应出席董事 9 人，实际出席董事 9 人，公司高级管理人员列席了 会议。本次会议的召开符合《公司法》和《公司章程》等的有关规定。 二、董事会会议审议情况 经与会董事充分讨论，审议并通过如下议案： （一）审议通过了《关于选举代 ...

Company Overview - Yingluohua Technology Co., Ltd. is located in Dongyang City, Jinhua, Zhejiang Province, and was established on August 4, 1997, with its listing date on August 8, 1997. The company specializes in rare earth permanent magnet materials and products, as well as motor series products [1] - The main business revenue composition includes: NdFeB (50.86%), motor series (25.10%), electric wheelchairs and mobility scooters (12.88%), audio speakers (7.69%), and others (3.47%) [1] Financial Performance - For the first half of 2025, Yingluohua achieved operating revenue of 1.734 billion yuan, a year-on-year decrease of 10.55%. The net profit attributable to the parent company was 144 million yuan, a year-on-year decrease of 1.16% [2] - Since its A-share listing, Yingluohua has cumulatively distributed cash dividends of 270 million yuan, with 256 million yuan distributed in the last three years [3] Stock Market Activity - On September 5, Yingluohua's stock price increased by 2.01%, reaching 11.14 yuan per share, with a trading volume of 145 million yuan and a turnover rate of 1.16%. The total market capitalization is 12.629 billion yuan [1] - Year-to-date, Yingluohua's stock price has risen by 15.92%, but it has seen declines of 8.99% over the last five trading days, 3.30% over the last 20 days, and 2.28% over the last 60 days [1] - The company has appeared on the "Dragon and Tiger List" three times this year, with the most recent appearance on June 9, where it recorded a net purchase of 169 million yuan [1] Shareholder Information - As of June 30, 2025, Yingluohua had 137,800 shareholders, an increase of 5.81% from the previous period. The average number of circulating shares per person was 8,225, a decrease of 5.49% [2] - Major shareholders include Hong Kong Central Clearing Limited, which holds 6.4318 million shares, and several ETFs related to the rare earth and new materials sectors, indicating a growing institutional interest [3]

Group 1 - The core point of the news is that Yingluo Technology Co., Ltd. has experienced a significant decline in stock price, dropping 5.03% on September 4, with a total market value of 12.198 billion yuan and a cumulative decline of 7.51% over four consecutive days [1] - Yingluo's main business involves rare earth permanent magnet materials and motor series products, with revenue composition being 50.86% from NdFeB, 25.10% from motor series, 12.88% from electric wheelchairs and mobility scooters, 7.69% from audio speakers, and 3.47% from other sources [1] - The top circulating shareholder, Jiashi Fund, increased its holdings in the Jiashi CSI Rare Earth Industry ETF by 627,000 shares, bringing the total to 3.4633 million shares, which represents 0.31% of circulating shares [2] Group 2 - Jiashi CSI Rare Earth Industry ETF has achieved a year-to-date return of 66.27%, ranking 112 out of 4222 in its category, and a one-year return of 108.14%, ranking 178 out of 3789 [2] - The fund manager, Tian Guangyuan, has a total fund asset scale of 44.323 billion yuan, with the best fund return during his tenure being 113.86% and the worst being -46.65% [3]

Core Viewpoint - Yingluo Technology Co., Ltd. has experienced a significant decline in stock price, with a 4.06% drop on September 3, leading to a total market value of 12.856 billion yuan and a cumulative decline of 7.43% over four consecutive days [1] Company Overview - Yingluo Technology, established on August 4, 1997, and listed on August 8, 1997, is located in Dongyang City, Zhejiang Province. The company specializes in rare earth permanent magnet materials and motor series products [1] - The revenue composition of Yingluo Technology is as follows: NdFeB (50.86%), motor series (25.10%), electric wheelchairs and mobility scooters (12.88%), audio speakers (7.69%), and others (3.47%) [1] Shareholder Analysis - Among the top ten circulating shareholders of Yingluo Technology, Huaxia Fund's Huaxia CSI 1000 ETF (159845) increased its holdings by 883,300 shares in the second quarter, totaling 3.7049 million shares, which represents 0.33% of the circulating shares [2] - The floating loss for Huaxia CSI 1000 ETF today is approximately 1.7783 million yuan, with a cumulative floating loss of 3.3714 million yuan during the four-day decline [2] Fund Manager Information - The fund manager of Huaxia CSI 1000 ETF is Zhao Zongting, who has been in the position for 8 years and 142 days. The total asset scale of the fund is 389.148 billion yuan, with the best fund return during his tenure being 108.6% and the worst being -32.63% [3]

Core Viewpoint - Yingluohua (000795) is a leading domestic manufacturer of magnetic materials, specializing in rare earth permanent magnetic materials and devices, with products widely used in high-growth sectors such as new energy vehicles, wind power generation, and energy-efficient home appliances [1][2]. Group 1: Company Overview - The company has been recognized as a national "specialized and innovative" small giant enterprise, indicating its strong position in the industry [1]. - Yingluohua's main business includes the research, production, and sales of sintered and bonded NdFeB permanent magnetic materials, motor series products, health equipment, and electronic acoustic products [2]. - The company has a production capacity of approximately 13,000 tons of magnetic materials, with a utilization rate of around 80% [2][3]. Group 2: Financial Performance - In 2024, the company achieved sales of over 6,200 tons of magnetic materials, maintaining a significant market position [2]. - The company's total revenue was 1.734 billion yuan, showing a year-on-year decline of 14.73%, while net profit reached 144 million yuan, reflecting a slight increase of 0.52% [2]. Group 3: Market Position and Strategy - Yingluohua has established long-term partnerships with leading suppliers such as Northern Rare Earth and China Rare Earth, employing a combination of long-term agreements and flexible procurement strategies to manage raw material costs [3]. - The company has a strong export presence, with 60-70% of its motor products exported, primarily to Europe and Asia, and has begun to receive export licenses for European clients [3][6]. Group 4: Product Applications and Innovations - The company's magnetic materials are utilized in various applications, including smart consumer electronics, wind power generation, smart home appliances, new energy vehicles, industrial robots, and critical components in UPS systems and server hard drives [5][6]. - Yingluohua is also expanding into the humanoid robot sector, with ongoing development and testing of joint modules and small-scale applications of its reducers in industrial robots [5].

Company Overview - Yingluohua Technology Co., Ltd. is located in Dongyang City, Zhejiang Province, and was established on August 4, 1997. It was listed on August 8, 1997. The company's main business involves rare earth permanent magnet materials and motor series products [1][2]. - The revenue composition of Yingluohua includes: NdFeB (50.86%), motor series (25.10%), electric wheelchairs and mobility scooters (12.88%), audio speakers (7.69%), and others (3.47%) [1]. Financial Performance - For the first half of 2025, Yingluohua achieved operating revenue of 1.734 billion yuan, a year-on-year decrease of 10.55%. The net profit attributable to the parent company was 144 million yuan, a year-on-year decrease of 1.16% [2]. - Since its A-share listing, Yingluohua has distributed a total of 270 million yuan in dividends, with 256 million yuan distributed in the last three years [3]. Stock Performance - As of August 28, Yingluohua's stock price increased by 2.05%, reaching 12.43 yuan per share, with a total market capitalization of 14.092 billion yuan. The stock has risen by 29.34% year-to-date [1]. - The stock has seen significant trading activity, with a net inflow of 3.3568 million yuan from main funds and notable trading volumes in large orders [1]. Shareholder Information - As of June 30, 2025, the number of shareholders of Yingluohua was 137,800, an increase of 5.81% from the previous period. The average circulating shares per person decreased by 5.49% to 8,225 shares [2]. - Major shareholders include Hong Kong Central Clearing Limited and various ETFs, with significant increases in holdings compared to the previous period [3].

Company Overview - Yingluohua Technology Co., Ltd. is located in Dongyang City, Zhejiang Province, and was established on August 4, 1997, with its listing date on August 8, 1997 [2] - The company specializes in rare earth permanent magnet materials and products, as well as motor series products [2] - The revenue composition includes: NdFeB (50.86%), motor series (25.10%), electric wheelchairs and mobility scooters (12.88%), audio speakers (7.69%), and others (3.47%) [2] Stock Performance - As of August 27, Yingluohua's stock price increased by 2.04%, reaching 12.48 CNY per share, with a trading volume of 8.22 billion CNY and a turnover rate of 5.88%, resulting in a total market capitalization of 141.48 billion CNY [1] - Year-to-date, the stock price has risen by 29.86%, with a 3.40% increase over the last five trading days, 9.76% over the last 20 days, and 21.76% over the last 60 days [2] Financial Performance - For the first half of 2025, Yingluohua reported a revenue of 1.734 billion CNY, a year-on-year decrease of 10.55%, and a net profit attributable to shareholders of 144 million CNY, a decrease of 1.16% year-on-year [2] - The company has distributed a total of 270 million CNY in dividends since its A-share listing, with 256 million CNY distributed in the last three years [3] Shareholder Information - As of June 30, 2025, the number of shareholders increased to 137,800, up by 5.81%, with an average of 8,225 circulating shares per person, a decrease of 5.49% [2] - Major shareholders include Hong Kong Central Clearing Limited, Southern CSI 1000 ETF, and Huaxia CSI 1000 ETF, with significant increases in their holdings [3]

Group 1 - The stock price of Yingluohua (000795) closed at 12.64 yuan on August 25, 2025, with an increase of 5.51% and a turnover rate of 11.82% [1] - The trading volume was 1.3398 million hands, with a transaction amount of 1.664 billion yuan [1] - The net inflow of main funds was 186 million yuan, accounting for 11.18% of the transaction amount, with significant inflows from large orders [1] Group 2 - Yingluohua's total operating revenue for the first half of 2025 was 1.734 billion yuan, a year-on-year decrease of 14.73% [1] - The net profit attributable to shareholders was 144 million yuan, a year-on-year increase of 0.52%, while the non-recurring net profit was 114 million yuan, a decrease of 16.05% [1] - The company's liquidity ratios include a current ratio of 2.469, a quick ratio of 1.721, and a debt-to-asset ratio of 32.33% [1] Group 3 - Yingluohua Technology Co., Ltd. was established in 1997 and is located in Jinhua City, primarily engaged in technology promotion and application services [2] - The company has a registered capital of 1.133684103 billion yuan and the same amount for paid-in capital [1] - The legal representative of the company is Wei Zhonghua [1] Group 4 - Yingluohua has made investments in 25 enterprises and participated in 10 bidding projects [2] - The company holds 69 trademark registrations and 30 patent registrations, along with one administrative license [2]

Industry Overview - The rare earth sector has seen a significant rise, with companies like San Chuan Wisdom and Northern Rare Earth reaching their daily limit up [1] - Rare earth elements are critical materials for high-tech, defense, and new energy sectors, with China holding approximately 44 million tons of rare earth oxides, accounting for 40% of global reserves [1][2] - China is the largest producer of rare earths, with a production of 210,000 tons in 2023, representing nearly 70% of global output [1] Regulatory Developments - The Ministry of Industry and Information Technology, along with other governmental bodies, has released interim measures for the total quantity control of rare earth mining and processing [2] - These measures will regulate the entire chain from mining to processing, emphasizing total quantity control, enterprise access, and environmental requirements [2] Price Trends - Rare earth prices have surged, with praseodymium oxide reaching 657,500 CNY per ton, an increase of 110,000 CNY from the beginning of the month, marking a rise of over 20% [3] - Neodymium oxide prices also increased significantly, with a year-to-date rise of 62.95% [3] - The price of neodymium-iron-boron magnets has also seen substantial growth, with N35 grade magnets priced at 144.5 CNY per kilogram, reflecting a 51.3% increase year-to-date [3] Demand Drivers - The demand for rare earths is being driven by the rapid growth in sectors such as electric vehicles, wind power generation, and energy-efficient motors [4] - The global supply-demand imbalance for rare earths is expected to persist, with projections indicating a shortfall in praseodymium and neodymium supply by 2025-2026 [4] Company Insights - Northern Rare Earth is one of the largest suppliers of light rare earth products and is part of China's six major rare earth groups [5] - Zhongke Magnetic Materials focuses on the research, production, and sales of permanent magnetic materials, being a significant player in the domestic market [5] - China Rare Earth Holdings is the only listed platform for China Minmetals and is a leading enterprise in the separation of heavy rare earths [5] - Other notable companies include Galaxy Magnetics, Benlang New Materials, and Xiamen Tungsten, all of which are involved in various aspects of the rare earth supply chain [5]

Financial Performance - The company's total revenue for the first half of 2025 was 1.734 billion yuan, a decrease of 14.73% year-on-year [1] - The net profit attributable to shareholders was 144 million yuan, an increase of 0.52% year-on-year [1] - In Q2 2025, total revenue was 894 million yuan, down 21.46% year-on-year, while net profit was 75.128 million yuan, a decrease of 2.47% year-on-year [1] - The gross margin increased by 10.4% year-on-year to 20.88%, and the net margin increased by 14.84% year-on-year to 8.47% [1] Cost and Expenses - Total selling, administrative, and financial expenses amounted to 126 million yuan, accounting for 7.24% of revenue, an increase of 18.83% year-on-year [1] - The company's operating cash flow per share was 0.05 yuan, a significant decrease of 74.15% year-on-year [1] Balance Sheet Highlights - Cash and cash equivalents decreased by 10.44% year-on-year to 693 million yuan [1] - Accounts receivable decreased by 11.52% year-on-year to 863 million yuan [1] - Interest-bearing debt decreased by 35.39% year-on-year to 262 million yuan [1] Investment and Returns - The company's return on invested capital (ROIC) was 7.21%, indicating average capital returns [3] - The historical median ROIC over the past 10 years was 3.95%, with five years of losses since the company went public [3] Cash Flow Analysis - Net cash flow from operating activities decreased by 74.15% due to reduced cash received from sales and tax refunds [1] - Net cash flow from investing activities decreased by 119.11% due to a reduction in cash received related to investment activities [2] - Net cash flow from financing activities increased by 69.13% due to a significant decrease in cash used for debt repayment [4] Business Model and Operations - The company's performance is primarily driven by research and development [5] - The company has two production bases for magnetic materials, with a total capacity of approximately 13,000 tons and an 80% utilization rate [5] - The export ratio of magnetic materials is around 20-30%, with applications in automotive, high-end audio, energy-saving motors, and smart consumer electronics [5]