Core Viewpoint - The rare earth permanent magnet sector experienced a significant rally on October 9, with notable increases in stock prices for several companies involved in this industry [1]. Group 1: Company Performance - Jinli Permanent Magnet saw a nearly 10% increase in its stock price [1]. - Other companies that performed well include Northern Rare Earth, Jiuling Technology, Sanchuan Wisdom, Baotou Steel, and China Rare Earth, all showing substantial gains [1].

Group 1 - The stock of Kingforce Magnetics (06680.HK) increased by over 3% on October 9, reaching a rise of 3.08% and trading at 24.74 HKD [1] - The trading volume for Kingforce Magnetics was 343 million HKD as of the report [1]

消息面上，10月9日，商务部公布对稀土相关技术实施出口管制的决定。公告称，以下物项未经许可不 得出口：稀土开采、冶炼分离、金属冶炼、磁材制造、稀土二次资源回收利用相关技术及其载体。稀土 开采、冶炼分离、金属冶炼、磁材制造、稀土二次资源回收利用相关生产线装配、调试、维护、维修、 升级等技术。 金力永磁（300748）(06680)涨超3%，截至发稿，涨3.08%，报24.74港元，成交额3.43亿港元。 兴业证券此前指出，国内供给优化叠加海外放量缓慢，中国稀土（000831）供给端优势难以取代。中国 稀土储量和产量在全球范围内均占据主导地位，且中国稀土开发具有全产业链优势，在国内实行总量指 标控制背景下，中国稀土供给增速或将持续放缓。短期内中国在全球稀土供给格局中仍占据主导地位， 在中国实行稀土总量控制的背景下，全球稀土供给增速或将放缓。拥有稀缺资源端和冶炼端产能及配额 的企业或将收益。 商务部新闻发言人就加强稀土相关物项出口管制应询答记者问，今年4月，中国政府对部分稀土物项实 施出口管制。有关稀土技术早在2001年已经列入《中国禁止出口限制出口技术目录》。相关出口需遵守 法律程序要求。今年以来，国家出口管制工 ...

智通财经APP获悉，金力永磁(06680)涨超3%，截至发稿，涨3.08%，报24.74港元，成交额3.43亿港元。 商务部新闻发言人就加强稀土相关物项出口管制应询答记者问，今年4月，中国政府对部分稀土物项实 施出口管制。有关稀土技术早在2001年已经列入《中国禁止出口限制出口技术目录》。相关出口需遵守 法律程序要求。今年以来，国家出口管制工作协调机制办公室组织开展打击战略矿产走私出口专项行 动，取得积极成效。 消息面上，10月9日，商务部公布对稀土相关技术实施出口管制的决定。公告称，以下物项未经许可不 得出口：稀土开采、冶炼分离、金属冶炼、磁材制造、稀土二次资源回收利用相关技术及其载体。稀土 开采、冶炼分离、金属冶炼、磁材制造、稀土二次资源回收利用相关生产线装配、调试、维护、维修、 升级等技术。 兴业证券此前指出，国内供给优化叠加海外放量缓慢，中国稀土供给端优势难以取代。中国稀土储量和 产量在全球范围内均占据主导地位，且中国稀土开发具有全产业链优势，在国内实行总量指标控制背景 下，中国稀土供给增速或将持续放缓。短期内中国在全球稀土供给格局中仍占据主导地位，在中国实行 稀土总量控制的背景下，全球稀土供给增速或 ...

Market Performance - On the first trading day after the holiday, A-shares saw a strong performance with the Shanghai Composite Index rising by 1.24%, surpassing the 3900-point mark for the first time in over 10 years [1] - The Shenzhen Component Index increased by 1.75%, while the ChiNext Index rose by 1.77% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 17.269 billion yuan, an increase of 3.571 billion yuan compared to the previous day, with 3200 stocks rising across the market [1] Sector Highlights - The international gold price broke the 4000 USD mark, leading to significant gains in the gold and non-ferrous metal sectors, with stocks like Chifeng Jilong Gold Mining and Sichuan Gold hitting the daily limit [1] - The controlled nuclear fusion concept saw strong performance, with stocks such as Guoguang Electric and Hanhua Welding Technology also hitting the daily limit, following key breakthroughs in China's nuclear fusion device construction [1] - The semiconductor sector experienced a surge, with companies like Zhaoxin Semiconductor and Huahong Semiconductor reaching historical highs [1] - Rare earth permanent magnet stocks collectively rose, with Antai Technology hitting the daily limit and other companies like Jinkeli Permanent Magnet and Zhongkuang Resources increasing by over 8% due to export controls on related rare earth items [1] Underperforming Sectors - The film and cinema sector faced declines, with Huace Film and Television dropping over 12% and other companies like Hengdian Film and China Film hitting the daily limit down, as the 2025 National Day box office fell short of last year's figures [1] - The liquor sector also saw declines, with Gujing Distillery and Huangtai Liquor both dropping over 3% [1] - The real estate sector experienced widespread declines, with Shen Shen Fang A hitting the daily limit down and Zhangjiang Hi-Tech dropping over 9% [1]

Company Overview - JIANGXI JINLI YONGCI TECHNOLOGY CO., LTD. is located in Ganzhou Economic and Technological Development Zone, Jiangxi Province, established on August 19, 2008, and listed on September 21, 2018. The company specializes in the research, production, and sales of high-performance neodymium iron boron permanent magnetic materials, magnetic components, and the recycling of rare earth permanent magnetic materials [1]. Financial Performance - As of October 9, the stock price of JIANGXI JINLI YONGCI increased by 5.28%, reaching 36.10 CNY per share, with a trading volume of 1.02 billion CNY and a turnover rate of 2.54%. The total market capitalization stands at 49.402 billion CNY [1]. Revenue Composition - The main business revenue composition of JIANGXI JINLI YONGCI is as follows: neodymium iron boron magnets account for 91.98% of total revenue, while other supplementary products contribute 8.02% [1]. Shareholder Information - Among the top ten circulating shareholders of JIANGXI JINLI YONGCI, E Fund's ETF (159915) reduced its holdings by 359,900 shares in the second quarter, now holding 14.9723 million shares, which represents 1.1% of the circulating shares. The estimated floating profit today is approximately 27.0998 million CNY [2]. Fund Performance - E Fund's ETF (159915) was established on September 20, 2011, with a latest scale of 85.537 billion CNY. Year-to-date returns are 52.99%, ranking 673 out of 4221 in its category; the one-year return is 50.46%, ranking 870 out of 3848; and since inception, the return is 268.2% [2].

Summary of Conference Call Notes Industry Overview - **Industry**: New Materials in China - **Key Focus Areas**: Lithium, Uranium, Rare Earths, Solar Glass Key Points and Arguments Lithium Market - **Demand**: Year-to-date lithium demand has exceeded market expectations, driven by strong demand from Energy Storage Systems (ESS) and ongoing electric vehicle (EV) trade-in programs [2] - **Supply Risks**: Yichun lepidolite mines are undergoing resource reclassification, which may lead to temporary shutdowns. These mines collectively produce approximately 150,000 tons of Lithium Carbonate Equivalent (LCE) annually [2] - **Cost Dynamics**: The cost curve for lepidolite mines is expected to rise due to increased royalties and fees, with cost support estimated at around RMB 70,000 per ton [2] Uranium Market - **Price Momentum**: Strong momentum in uranium prices is anticipated, supported by major investment vehicles like SPUT and Yellow Cake purchasing in the spot market. Long-term prices are expected to rise post-World Nuclear Symposium, with current spot prices around US$83 per pound [3] - **Supply Adjustments**: Production cuts from Kazatomprom and Cameco highlight ongoing supply risks, benefiting CGN Mining, which has increased its spot price exposure to 70% from 60% due to a renewed three-year contract [3] Rare Earths and Magnets - **Price Strength**: Rare earth prices are robust due to strong downstream demand and China's supply-side controls. Magnet producers are expected to pass price increases to customers, improving gross profit margins [4] - **Export Recovery**: Export volumes for magnet producers are normalizing, with anticipated improvements in shipment volumes and earnings in the second half of the year [4] Solar Glass Market - **Demand Decline**: Demand for solar glass has softened in October and is expected to weaken further into winter, leading to inventory build-up and downward pressure on prices [5] - **Earnings Impact**: The anticipated decline in solar glass prices could negatively affect company earnings if no supply-side controls are implemented [5] Additional Insights - **Equity Ratings**: Various companies within the new materials sector have been rated with "Overweight" or "Equal-weight" based on their market positions and expected performance [10][11] - **Price Target Adjustments**: Price targets for several companies have been adjusted based on updated earnings forecasts and market conditions, reflecting changes in commodity prices and company performance [19][20] - **Market Sentiment**: The overall sentiment in the new materials sector remains attractive, with potential upside from uranium recovery and stable demand in rare earths, despite challenges in lithium and solar glass markets [1][7] Conclusion The new materials sector in China is experiencing mixed dynamics, with strong demand in lithium and uranium markets, while facing challenges in solar glass. Companies are adjusting their strategies and forecasts in response to evolving market conditions, highlighting the importance of monitoring supply risks and price movements in this sector.

格隆汇10月8日丨金力永磁(06680.HK)宣布，将于2025年10月20日(星期一)举行董事会会议，以(其中包 括)考虑及批准公司及其附属公司截至2025年9月30日止九个月的未经审核第三季度业绩及其公布。 ...

承董事會命 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） 董事會會議日期 江 西 金 力 永 磁 科 技 股 份 有 限 公 司（「本公司」）董 事 會（「董事會」）謹 此 宣 佈，將 於 2025年10月20日（星 期 一）舉 行 董 事 會 會 議，以（其 中 包 括）考 慮 及 批 准 本 公 司 及 其附屬公司截至2025年9月30日 止 九 個 月 的 未 經 審 核 第 三 季 度 業 績 及 其 公 佈。 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的內容概不 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 對 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的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 董事長 蔡報貴 於 本 公 告 日 期，董 事 會 成 員 包 括 執 行 董 事 蔡 報 貴 先 生 及 呂 鋒 先 生 ...

第 1 頁 共 10 頁 v 1.1.1 致：香港交易及結算所有限公司 呈交日期: 2025年10月8日 本月底法定/註冊股本總額： RMB 1,372,131,923 | 2. 股份分類 | 普通股 | 股份類別 | A | | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 300748 | 說明 | | 於深圳證券交易所上市 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,144,491,123 | RMB | | | 1 RMB | | 1,144,491,123 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 1,144,491,123 | RMB | | | 1 RMB | | 1,144,491,123 | | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 ( ...