Core Viewpoint - Jinko Solar (06680) shares rose nearly 5%, reaching HKD 23.64 with a trading volume of HKD 335 million, following the announcement of a profit upgrade for 2025, projecting a net profit of RMB 660 million to RMB 760 million, representing a year-on-year increase of 127% to 161% [1][1][1] Company Summary - Jinko Solar reported record high production and sales volumes, reinforcing its position as a leader in the global rare earth permanent magnet industry [1][1] - The company has commenced small batch deliveries of its robotic motor rotors and magnetic materials, as well as products for the low-altitude aircraft sector for the 2025 fiscal year [1][1] Industry Summary - CITIC Securities highlighted the strategic importance of global rare earth resources, indicating that the rare earth industry is entering a new era of high-quality development [1][1] - On the supply side, quota controls and regulatory policies are expected to strengthen, while on the demand side, emerging sectors such as electric vehicles, humanoid robots, and the low-altitude economy are anticipated to drive long-term high growth in demand [1][1] - The firm forecasts that starting in 2026, the global supply-demand gap for rare earths may continue to widen, with prices expected to stabilize and improve, leading to sustained profitability in the industry chain [1][1]

Investment Rating - The report maintains a "Buy" rating for the metal industry, specifically recommending companies such as Huaxi Nonferrous, Xiyegongsi, Boqian New Materials, and others [2][3]. Core Insights - The report highlights the tightening supply of strategic metals due to export controls and geopolitical factors, which is expected to drive prices upward. The integration of AI technology is anticipated to create new opportunities in electronic materials [9][10]. - Tin supply is under pressure due to slow recovery in Myanmar and regulatory changes in Indonesia, leading to a persistent shortage [26][35]. - Tungsten is positioned as a critical material for high-end manufacturing, with supply constraints expected to support long-term price increases [9][10]. - Antimony supply remains rigid, with recent export control relaxations likely to narrow the price gap between domestic and international markets [9][10]. - The rare earth materials sector is expected to see price stabilization and growth due to increasing demand from electric vehicles and energy-efficient technologies [9][10]. Summary by Sections 1. Strategic Metals and Supply Dynamics - The report emphasizes the strategic importance of metals like tungsten, antimony, and rare earths, which are crucial for technology and military applications. China holds a dominant position in the supply of these metals, with import dependency for many industrial metals exceeding 50% [16][20]. - Export controls on strategic metals have led to significant price increases domestically, with prices expected to continue rising as global demand grows [21][22]. 2. AI Technology and Electronic Materials - The report discusses the impact of AI technology on the demand for electronic materials, predicting a dual increase in both volume and price as the technology evolves [9][10]. - The need for advanced electronic components that can handle higher power and efficiency is driving innovation in materials used in AI applications [9][10]. 3. Investment Recommendations - The report recommends focusing on domestic strategic resource sectors and companies benefiting from AI technology advancements. Key companies highlighted include Huaxi Nonferrous, Xiyegongsi, Boqian New Materials, and others [13][10].

Group 1 - The report emphasizes the strategic importance of key metals, highlighting that supply control and application demand in critical fields like technology and military are crucial for pricing [16][20][21] - The report identifies significant supply disruptions in tin due to slow recovery in Myanmar and regulatory changes in Indonesia, leading to a persistent tight supply situation [26][35][40] - The report notes that tungsten is a backbone of high-end manufacturing, with supply tightening driving significant price increases, supported by steady demand from sectors like photovoltaics and military applications [9][16][21] Group 2 - The report discusses the impact of AI technology on the development of electronic new materials, indicating that advancements in AI will drive demand for upgraded materials to meet higher performance requirements [9][10][12] - The report recommends investing in domestic strategic resource sectors and electronic new materials benefiting from AI technology, highlighting specific companies such as Huaxi Nonferrous, Xiyegongsi, and others [13][21] - The report outlines the tightening supply of antimony and the potential for price convergence due to the relaxation of export controls, which may benefit domestic demand [9][10][12]

Group 1 - Morgan Stanley increased its stake in Jinli Permanent Magnet (300748) (06680) by 403,576 shares at a price of HKD 21.4914 per share, totaling approximately HKD 8.6734 million [1] - After the increase, the total number of shares held by Morgan Stanley is approximately 12,014,400, representing a holding percentage of 5.11% [1]

香港联交所最新资料显示，1月15日，摩根大通增持金力永磁(06680)40.3576万股，每股作价21.4914港 元，总金额约为867.34万港元。增持后最新持股数目约为1201.44万股，最新持股比例为5.11%。 ...

Core Viewpoint - Several listed companies in the non-ferrous metals industry have released optimistic performance forecasts for 2025, driven by product price increases and production growth, reflecting a positive outlook for the sector [1][2][4]. Group 1: Company Performance Forecasts - Zijin Mining Group expects a net profit of 51 billion to 52 billion yuan for 2025, a year-on-year increase of 59% to 62%, supported by increased production and sales prices of gold, copper, and silver [1]. - Chifeng Jilong Gold Mining anticipates a net profit of 3 billion to 3.2 billion yuan for 2025, representing a growth of 70% to 81%, with gold production expected to be approximately 14.4 tons and sales prices rising by about 49% [2]. - Northern Rare Earth forecasts a net profit of 2.176 billion to 2.356 billion yuan for 2025, a significant increase of 116.67% to 134.60%, driven by new technologies and products [2]. - Jinchuan Magnetics expects a net profit of 660 million to 760 million yuan for 2025, with a year-on-year growth of 127% to 161%, attributed to record high product sales in various applications [2]. - Xianglu Tungsten Industry predicts a net profit of 125 million to 180 million yuan for 2025, marking a turnaround from losses, supported by rising tungsten prices and increased sales orders [3]. - Huayou Cobalt anticipates a net profit of 5.85 billion to 6.45 billion yuan for 2025, a growth of 40.80% to 55.24%, benefiting from improved production and cost management [3]. - Luoyang Molybdenum expects a net profit of 20 billion to 20.8 billion yuan for 2025, with a growth of 47.80% to 53.71%, driven by increased production and effective cost control [4]. Group 2: Industry Insights - The positive performance forecasts are attributed to multiple factors, including government policy support, improved supply-demand dynamics, and strategic upgrades by companies [4]. - Emerging sectors such as new energy vehicles, power batteries, energy storage, and artificial intelligence are expected to drive sustained demand for non-ferrous metals, particularly lithium, nickel, rare earths, and tungsten [4].

Core Viewpoint - The company, Jinli Permanent Magnet, announced its intention to leverage professional investment institutions' resources and capabilities to identify high-quality project resources that align with its development strategy, thereby enhancing its overall competitiveness [1]. Group 1: Investment Details - The company and its wholly-owned subsidiary, Jinli Permanent Magnet (Ningbo) Investment Co., Ltd., plan to invest up to 150 million RMB to establish the Jiaxing Jinci Equity Investment Partnership (Limited Partnership) [1]. - The company will contribute no more than 30 million RMB, while Jinli Ningbo Investment will contribute no more than 120 million RMB [1]. - As of January 19, 2026, the partnership has completed its business registration and obtained a business license from the Administrative Approval Bureau of Nanhu District, Jiaxing City [1].

金力永磁（300748）(06680)发布公告，公司为借助专业投资机构的专业资源和投资能力，积极发掘符 合公司发展战略的优质项目资源，落实公司发展战略，增强公司综合竞争力。公司及全资子公司金力永 磁(宁波)投资有限公司(简称"金力宁波投资")拟以自有资金合计不超过1.5亿元人民币参与设立嘉兴金磁 股权投资合伙企业(有限合伙)。公司及全资子公司金力宁波投资与建银创信投资基金管理(北京)有限公 司签署了《嘉兴金磁股权投资合伙企业(有限合伙)有限合伙协议》，其中公司认缴出资不超过3000万元 人民币，金力宁波投资认缴出资不超过1.2亿元人民币。2026年1月19日，公司收到通知，上述合伙企业 工商登记手续已完成办理，并取得了嘉兴市南湖区行政审批局颁发的《营业执照》。 ...

智通财经APP讯，金力永磁(06680)发布公告，公司为借助专业投资机构的专业资源和投资能力，积极发 掘符合公司发展战略的优质项目资源，落实公司发展战略，增强公司综合竞争力。公司及全资子公司金 力永磁(宁波)投资有限公司(简称"金力宁波投资")拟以自有资金合计不超过1.5亿元人民币参与设立嘉兴 金磁股权投资合伙企业(有限合伙)。公司及全资子公司金力宁波投资与建银创信投资基金管理(北京)有 限公司签署了《嘉兴金磁股权投资合伙企业(有限合伙)有限合伙协议》，其中公司认缴出资不超过3000 万元人民币，金力宁波投资认缴出资不超过1.2亿元人民币。2026年1月19日，公司收到通知，上述合伙 企业工商登记手续已完成办理，并取得了嘉兴市南湖区行政审批局颁发的《营业执照》。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴 該等內容而引致之任何損失承擔任何責任。 JL MAG RARE-EARTH CO., LTD. 江西金力永磁科技股份有限公司 （在中華人民共和國註冊成立的股份有限公司） （股份代碼：06680） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而做出。 茲載列江西金力永磁科技股份有限公司於深圳證券交易所網站( www.szse.cn )刊登 的公告如下，僅供參閱。 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。 一、对外投资概述 江西金力永磁科技股份有限公司（以下简称"公司"）为借助专业投资机构 的专业资源和投资能力，积极发掘符合公司发展战略的优质项目资源，落实公司 发展战略，增强公司综合竞争力。公司及全资子公司金力永磁（宁波）投资有限 公司（以下简称"金力宁波投资"）拟以自有资金合计不超过 1.5 亿元人民币参 与设立嘉兴金磁股权投资合伙企业（有限合伙）。公司及全资 ...