日前，稀土永磁工业史上金额最高的跨国仲裁案落槌，中国企业正海磁材（300224）的胜诉结果备受关 注。 12月21日晚，正海磁材公告，公司收到丹麦仲裁院就公司与西门子歌美飒可再生能源有限公司合同纠纷 一案的《最终仲裁裁决书》，仲裁庭最终驳回申请人西门子歌美飒的全部索赔请求，并裁定其向正海磁 材支付法律及专家费用共计119.51万欧元。 业内人士认为，这一胜诉不仅为正海磁材的法律维权画上了圆满句号，更在国际舞台上捍卫了中国稀土 （000831）永磁企业的商业信誉。 从千万欧元索赔到全面胜诉 据公告及案件详情披露，此次仲裁源于双方2021年底前签署的系列商业合同。正海磁材与申请人先后完 成"主采购协议"（含"质量协议"等附件）及"量价协议"签署，其中质量协议明确约定，量产前需共同完 成PPAP审核认证（Production Part Approval Process，即供货产品生产过程和产品性能参数审核），申请 人出具的书面批准文件是零部件启动生产的法定前提，量价协议则对产品型号、定价、订购量及交付年 份等核心交易条款作出明确约定。 然而在合同履行期间，受全球公共卫生事件等不可抗力影响，双方未能按计划完成PPAP ...

Group 1 - The State Council emphasizes the need for all departments to align their actions with the central government's economic work requirements for the upcoming year, enhancing responsibility and urgency in implementing tasks [1] - The Ministry of Commerce highlights the importance of high-quality business development and international trade coordination, aiming to boost domestic and international economic cycles [2] - Researchers at Shanghai Jiao Tong University have achieved a breakthrough in all-optical computing chips, which could significantly enhance computational efficiency for AI and large-scale data processing [3] Group 2 - The National Internet Information Office and the China Securities Regulatory Commission have taken action against 17 accounts spreading rumors and illegal stock recommendations, emphasizing the need for accurate financial information dissemination [4] - Fujian Province has introduced a comprehensive financial support plan for technology innovation, aiming for a 10% annual growth in loans to technology-related industries by 2025-2027 [5] - The world's first commercial supercritical carbon dioxide power generation unit has successfully commenced operations, marking a significant advancement in energy technology [6] Group 3 - Moore Threads has launched a new GPU architecture, "Huagang," which boasts a 50% increase in computing density and a tenfold improvement in energy efficiency [7][8] - The first L3-level autonomous driving license has been issued to Changan Automobile, marking a significant milestone in the development of autonomous driving technology [9] - Nine U.S. pharmaceutical companies have reached agreements with the government to lower drug prices, indicating a shift towards more affordable healthcare solutions [10] Group 4 - The market has shown signs of recovery with a three-day rebound, although caution is advised as the overall trend has not yet confirmed a sustained upward movement [11] - Samsung has unveiled the world's first 2nm smartphone chip, which is expected to enhance performance significantly, indicating advancements in semiconductor technology [12]

12月21日晚，烟台正海磁性材料股份有限公司（以下简称"正海磁材（300224）"）披露公告，该公司于 12月19日收到丹麦仲裁院的最终裁决，驳回国际风电巨头西门子歌美飒可再生能源有限公司 然而，此案的意义远超财务层面。"它展示了一条完整的专业国际争端应对路径：从组建复合型团队， 到系统化证据准备，再到善用独立专家厘清技术事实。这对所有参与全球供应链的中国企业而言，是一 次极富价值的风险管控实战示范。"王智斌评价道。 在仲裁过程中，公司亦曾遭遇外界对其履约能力的质疑。此次胜诉，无疑是对不实言论的有力澄清。中 关村物联网产业联盟副秘书长袁帅在接受《证券日报》记者采访时认为，此案提示中国企业在应对跨国 法律纠纷时，需建立有效的内外部沟通机制。"应及时、准确、客观地向外界披露进展，回应不实信 息，与合作伙伴保持密切沟通，从而将法律胜利转化为可持续的商业信任，防范商誉受损。" "正海磁材完全是被强行拉入这场巨额索赔危局的。"正海磁材有关负责人对《证券日报》记者表示，面 对争议，公司坚持通过合法途径维权，并迅速组建了涵盖国内外律师、技术专家的应诉团队。"我们全 面梳理了履约全流程的证据，细致论证本公司合规履约的核心事实 ...

Core Viewpoint - Zhenghai Magnetic Materials has shown a significant increase in stock price and trading activity, indicating positive market sentiment and potential growth in the magnetic materials sector [1][2]. Group 1: Stock Performance - As of December 22, Zhenghai Magnetic Materials' stock price rose by 2.06% to 15.33 CNY per share, with a trading volume of 1.20 billion CNY and a market capitalization of 14.268 billion CNY [1]. - The stock has increased by 26.58% year-to-date, with a 2.40% rise over the last five trading days and a 3.30% increase over the last 20 days, although it has decreased by 6.98% over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Zhenghai Magnetic Materials reported a revenue of 4.973 billion CNY, reflecting a year-on-year growth of 30.54%, and a net profit attributable to shareholders of 228 million CNY, up by 20.46% [2]. - The company has distributed a total of 1.28 billion CNY in dividends since its A-share listing, with 494 million CNY distributed over the last three years [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders increased to 82,600, a rise of 20.95%, while the average number of circulating shares per person decreased by 7.86% to 11,231 shares [2]. - Notable changes in the top ten circulating shareholders include an increase in holdings by Hong Kong Central Clearing Limited and new entries from the Haixin Zhongzheng Rare Earth Industry ETF and Huaxia Double Bond A [3].

（文章来源：每日经济新闻） 每经AI快讯，12月21日，正海磁材(300224.SZ)公告称，近日，公司收到丹麦仲裁院发出的《最终仲裁 裁决书》，驳回申请人SiemensGamesa Renewable Energy A/S的全部索赔请求，裁定其向公司支付法律 代理费用及专家协助费用共计119.51万欧元，并承担其他相关仲裁费用。根据已生效的裁决，在申请人 履行裁决义务、相关款项到账的会计年度，该事项将对公司当期经营业绩产生积极影响。 ...

Core Viewpoint - Yantai Zhenghai Magnetic Materials Co., Ltd. has won the arbitration case against Siemens Gamesa Renewable Energy A/S, with the arbitration tribunal rejecting the claim for €14.72 million and ordering Siemens to pay €1.1951 million in legal and expert fees [1][2]. Group 1: Arbitration Background and Process - The arbitration arose from a dispute over the "Main Procurement Agreement" and "Price and Quantity Agreement" signed at the end of 2021, where Siemens claimed that the company failed to complete the Production Part Approval Process (PPAP), leading to supply delays [2]. - The company argued that the inability to complete the PPAP was due to force majeure related to a global public health event, and that the order specifications from Siemens did not match the agreed contract, thus denying any breach of contract [2]. - The arbitration process began in February 2024 and included the establishment of the tribunal, multiple rounds of evidence exchange, and hearings, with the company assembling a professional legal team to support its case [2]. Group 2: Key Timeline of Arbitration - February 1, 2024: Siemens submitted the arbitration application to the Danish Arbitration Institute - February 23, 2024: The company received the arbitration notice - August 28, 2024: The arbitration tribunal was officially established - September 16, 2024: The tribunal held a preparatory meeting - October 20-22, 2025: The hearings took place - December 19, 2025: The final arbitration award was issued [3]. Group 3: Impact of Arbitration Result - The tribunal not only dismissed Siemens' claim for €14.72 million but also ordered Siemens to pay €1.1951 million in legal and expert fees, along with other arbitration costs [2][3]. - The arbitration outcome is not expected to significantly impact the company's daily operations, but it will positively affect the financial performance in the accounting year when the awarded amount is received [3]. - The company plans to actively pursue the collection of the awarded amount, with specific financial impacts to be disclosed in periodic reports [3].

Core Viewpoint - The arbitration ruling from the Danish Arbitration Institute is favorable for the company, as it dismisses the claims made by Siemens Gamesa Renewable Energy and orders them to pay legal fees, positively impacting the company's financial performance [1] Group 1: Arbitration Outcome - The company received the final arbitration ruling on December 19, 2025, from the Danish Arbitration Institute [1] - Siemens Gamesa Renewable Energy initiated arbitration in February 2024, claiming €14.7206 million and related costs [1] - The arbitration tribunal rejected all claims from Siemens and ordered them to pay the company €1.1951 million for legal and expert assistance fees, along with other arbitration-related costs [1] Group 2: Impact on Company Operations - The arbitration outcome does not affect the company's daily operations [1] - The receipt of the awarded amount is expected to have a positive impact on the company's current financial performance [1] Group 3: Legal Status - As of the announcement date, the company and its subsidiaries have no other undisclosed litigation or arbitration matters [1]

证券代码：300224 证券简称：正海磁材 公告编号：2025-14-01 烟台正海磁性材料股份有限公司 关于国际仲裁事项仲裁结果的公告 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。 重要内容提示： 1、案件所处的仲裁阶段：最终仲裁裁决； 2、公司所处的当事人地位：被申请人； 3、涉案的金额：14,720,643.30 欧元及与此仲裁案相关的其他费用； 4、仲裁结果：驳回申请人的全部索赔请求，裁定其向公司支付法律代理费 用及专家协助费用共计 1,195,069.86 欧元，并承担其他相关仲裁费用； 5、对公司损益的影响：根据已生效的裁决，在申请人履行裁决义务、相关 款项到账的会计年度，该事项将对公司当期经营业绩产生积极影响。 2025 年 12 月 19 日，烟台正海磁性材料股份有限公司（以下简称"公司"） 收到 The Danish Institute of Arbitration（以下简称"丹麦仲裁院"）发出 的《最终仲裁裁决书》。现将有关情况公告如下： 一、本次仲裁案基本情况 公司于 2024 年 2 月 23 日接到丹麦仲裁院发出的《仲裁通知》，由 ...

Core Conclusions - The small metal sector is expected to benefit from the rising demand in the AI industry, presenting new investment opportunities [6] - The report maintains an "overweight" rating for the small metal sector, indicating a positive outlook for the industry [7] Industry Overview - The small metal sector significantly outperformed the market in 2025, with an annual cumulative return of 83.54%, surpassing the cumulative return of the Shenwan Nonferrous Metals Index (82.05%) and the CSI 300 Index (20%) [10][13] - The rare earth sector is projected to maintain an upward trend in 2026 due to strong demand recovery and supply-side policy constraints, indicating that the industry cycle is not yet over [10] - The tungsten market is entering a new price cycle driven by supply constraints and emerging demand, suggesting a strategic value for investors [10] - The antimony market is experiencing a new phase characterized by supply rigidities and policy relaxations, with potential price increases anticipated in 2026 [10] - The tin market is also entering a new phase with supply constraints and demand upgrades, indicating a resilient supply-demand balance [10] - The demand for new metal materials is expected to grow alongside the rapid development of the AI industry, particularly for permanent magnetic materials and high-end copper alloys [10] Investment Recommendations - Recommended stocks in the rare earth sector include Northern Rare Earth, Zhenghai Magnetic Materials, and Jinli Permanent Magnet, with a focus on China Rare Earth and Shenghe Resources [6] - For tungsten, attention is drawn to Zhongtung High-tech and Xiamen Tungsten [6] - In the antimony sector, recommended stocks include Huayu Mining, Huaxi Nonferrous, and Hunan Gold [6] - For tin, focus on Tin Industry Co. and Huaxi Nonferrous [6] - In the new materials sector, recommended stocks include Bowei Alloy and Srey New Materials [6] Supply and Demand Dynamics - The rare earth industry is experiencing a strong price increase driven by supply-side constraints and a recovery in export demand, with the price of praseodymium-neodymium oxide increasing by 45.49% in 2025 [31] - The global rare earth production is expected to grow moderately, with China's production leading the market, indicating a dominant position in both production and reserves [41] - Domestic supply indicators for light rare earths are showing a significant slowdown in growth, with the supply structure increasingly dominated by major players [48]

Core Viewpoint - The company, Zhenghai Magnetic Materials, has not yet initiated the AS9100D certification process for aerospace quality management systems, but plans to consider it in line with future business development needs [1] Group 1: Company Overview - Zhenghai Magnetic Materials primarily focuses on high-end applications in the fields of new energy, energy saving, and intelligence, including sectors such as new energy vehicles, wind power, energy-efficient electrical appliances, and smart consumer electronics [1] Group 2: Future Plans - The company will strategically plan the AS9100D certification based on the development needs of its business in the future [1]