北京市朝阳区建国路 77 号华贸中心 3 号写字楼 34 层 邮编：100025 34/F, Tower 3, China Central Place, 77 Jianguo Road, Beijing 100025, China T: (86-10) 5809 1000 F: (86-10) 5809 1100 北京市竞天公诚律师事务所 关于江西金力永磁科技股份有限公司 2024 年年度股东大会的 法律意见书 二〇二五年五月 北京市竞天公诚律师事务所 关于江西金力永磁科技股份有限公司 2024 年年度股东大会的 法律意见书 致：江西金力永磁科技股份有限公司 北京市竞天公诚律师事务所（以下简称"本所"）接受江西金力永磁科技股份 有限公司（以下简称"公司"）的委托，指派本所律师对公司 2024 年年度股东大 会（以下简称"本次股东大会"）的合法性进行见证并出具《北京市竞天公诚律师 事务所关于江西金力永磁科技股份有限公司 2024 年年度股东大会的法律意见书》 （以下简称"本法律意见书"）。 本所及本所律师依据《中华人民共和国证券法》《律师事务所从事证券法律 业务管理办法》和《律师事务所证券法律业务执业规则（试行 ...

关于取得金融机构股票回购贷款承诺函的公告 证券代码：300748 证券简称：金力永磁 公告编号：2025-031 江西金力永磁科技股份有限公司 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、本次回购股份的基本情况 江西金力永磁科技股份有限公司（以下简称"公司"）于 2025 年 4 月 25 日 召开第四届董事会第六次会议及第四届监事会第五次会议，审议通过《关于<回 购公司股份方案>的议案》：公司拟使用公司自有资金或自筹资金（股票回购专项 贷款等）以集中竞价交易方式回购公司 A 股股份，其中自筹资金（股票回购专 项贷款等）占回购资金总额比例不超过 90%，回购股份的资金总额不低于人民币 10,000 万元（含），不超过人民币 20,000 万元（含），回购价格不超过人民币 31.18 元/股（含），本次回购的股份将依法全部用于注销并减少注册资本。具体内容详 见公司 2025 年 4 月 28 日在巨潮资讯网（www.cninfo.com.cn）披露的《关于回购 公司 A 股股份方案公告》（公告编号：2025-025）。 二、取得金融机构股票回购贷款承诺函 ...

江西金力永磁科技股份有限公司（以下简称"公司"或"本公司"）于 2025 年 5 月 26 日接到控股股东一致行动人赣州格硕投资管理中心（有限合伙）（以 下简称"赣州格硕"）通知，获悉赣州格硕所持有本公司的部分股份被质押，具 体情况如下： 证券代码：300748 证券简称：金力永磁 公告编号：2025-029 江西金力永磁科技股份有限公司 关于控股股东一致行动人部分股份质押的公告 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。 截至本公告日，控股股东及其一致行动人所持公司股份不存在被冻结或拍卖 等情况，其所质押的股份不存在平仓风险。上述质押行为不会导致公司实际控制 权变更，对公司经营管理、公司治理不会产生重大影响。 公司将持续关注股东股份质押的后续进展情况，并按规定及时履行信息披露 义务，敬请投资者注意投资风险。 三、备查文件 1、证券质押及司法冻结明细表； 注：被质押的股份不涉及重大资产重组等业绩承诺股份补偿义务； 二、本次质押情况变动后股东股份累计被质押的情况 截至公告披露日，控股股东及其一致行动人所持质押股份情况如下： | 股东名称 | | | 本次质押 ...

Investment Rating - The report maintains an "Overweight" rating for the non-ferrous metals sector [1]. Core Views - The non-ferrous metals sector experienced a 1.26% increase in the week from May 19 to May 23, ranking it in the middle among all primary industries. Precious metals saw a significant rise of 5.58%, while industrial metals increased by 1.86% [1][14]. - The report highlights that tariff policies and a cooling U.S. Treasury auction have negatively impacted macroeconomic sentiment, leading to a weakening in industrial metals [1][24]. - Gold prices have surged due to deteriorating U.S. fiscal conditions, with COMEX gold closing at $3,357.70 per ounce, a 4.75% increase week-on-week [4][49]. Summary by Sections Market Review - The Shanghai Composite Index fell by 0.57%, while the non-ferrous metals sector rose by 1.26%, outperforming the index by 1.83 percentage points [14]. - Among the sub-sectors, precious metals led with a 5.58% increase, followed by industrial metals at 1.86%, while small metals and new materials declined [1][14]. Industrial Metals - **Copper**: As of May 23, LME copper was priced at $9,614 per ton, up 1.76% week-on-week. Supply remains tight due to mining incidents, but domestic smelting capacity is unaffected in the short term [2][32]. - **Aluminum**: LME aluminum closed at $2,466 per ton, down 0.62%. The supply side is impacted by the shutdown of bauxite mines in Guinea, leading to a significant rise in alumina prices [3][36]. - **Zinc**: LME zinc price increased by 0.78% to $2,713 per ton, while SHFE zinc fell by 1.27% to 22,215 yuan per ton. Zinc inventories decreased week-on-week [39]. - **Tin**: LME tin price decreased by 0.46% to $32,665 per ton, with mixed inventory changes observed [45]. Precious Metals - Gold prices have risen significantly due to concerns over U.S. fiscal health, with a notable increase in both COMEX and SHFE gold prices [4][49]. - The report notes that the U.S. credit rating downgrade and a cooling Treasury auction have further weakened market sentiment, contributing to the rise in gold prices [4][51].

Investment Rating - The report assigns an "Accumulate" rating for the company, indicating a positive outlook on its performance and growth potential [6][9]. Core Views - The company is positioned to benefit from the expanding demand for high-performance rare earth permanent magnets, particularly driven by the growth in the electric vehicle and robotics sectors. The report highlights that the company has a competitive edge due to its scale, profitability, and technological advantages [8][11][35]. Summary by Sections 1. Demand for High-Performance Rare Earth Permanent Magnets - The demand for high-performance rare earth permanent magnets is expected to continue expanding, driven by applications in consumer electronics, variable frequency air conditioners, energy-saving elevators, industrial robots, wind power, and new energy vehicles. The global market demand for high-performance rare earth permanent magnets is projected to reach 10.3/11.4/12.9/14.2 million tons from 2024 to 2027, with a CAGR of 11% [8][15][24]. 2. Company’s Competitive Advantages - The company is recognized as a leading player in the magnetic materials sector, benefiting from scale effects, profitability, and technological advantages. Its production capacity is expected to increase from 23,000 tons in 2023 to 40,000 tons in 2025, and further to 60,000 tons by 2027. The company has also invested in a new project in Mexico to enhance its production capabilities for magnetic components [35][42][43]. 3. Profit Forecast and Valuation - The report forecasts the company's revenue to reach 87.9 billion RMB in 2025, with net profits of 5.5 billion RMB, and projects continued growth through 2027. The price-to-earnings (P/E) ratios for the company are estimated to be 50, 42, and 31 for the years 2025, 2026, and 2027, respectively [7][47][50].

Group 1: Company Overview and Financial Performance - In Q1 2025, the company achieved a revenue of 1.61 billion RMB, representing a year-on-year growth of 14.19% [3] - The net profit attributable to shareholders was 1.61 billion RMB, with a significant increase of 57.85% year-on-year [3] - The net profit excluding non-recurring gains and losses reached 1.06 billion RMB, showing a remarkable growth of 331.10% [3] Group 2: Business Development and Market Focus - The company is focusing on the new energy and energy-saving environmental protection sectors, particularly in the fields of electric vehicles and automotive components [3] - The company has initiated small batch deliveries in the field of embodied robot motor rotor development, indicating progress in production capacity [3] - In Q1 2025, the revenue from the new energy vehicle and automotive components sector accounted for 50.28% of total revenue, while the energy-saving variable frequency air conditioning sector contributed 29.25% [3] Group 3: Share Buyback Plan - The company plans to repurchase A-shares using self-owned or self-raised funds, with a total repurchase amount between 100 million RMB and 200 million RMB [4] - The repurchased shares will be used for cancellation and reduction of registered capital, pending approval at the 2024 annual shareholders' meeting [4] Group 4: Raw Material Supply and Sustainability - The company has established long-term strategic partnerships with major rare earth suppliers, with 63% of its annual procurement coming from North Rare Earth Group and China Rare Earth Group in 2024 [5] - The company emphasizes green recycling of rare earth materials, utilizing 2,575 tons of recycled rare earth materials, which constitutes 30.4% of total rare earth material usage in 2024 [5] - A comprehensive procurement mechanism is in place to mitigate risks associated with rare earth material prices [5]

Core Viewpoint - The company is experiencing significant growth in the production and sales of magnetic materials, driven by a recovery in rare earth prices and a share buyback plan that reflects confidence in its development [1][3]. Group 1: Financial Performance - In Q1 2025, the average market price for praseodymium-neodymium oxide was 430,000 yuan/ton, and for neodymium-iron-boron N45 it was 159,000 yuan/ton, representing year-on-year increases of 13% and 3%, respectively [2]. - The company produced 6,600 tons of neodymium-iron-boron magnetic materials and sold 6,024 tons in Q1 2025, with both figures showing over 40% year-on-year growth [2]. - The net profit per ton of magnetic materials in Q1 2025 was 17,600 yuan/ton, reflecting a 35% increase quarter-on-quarter [2]. - The company's operating expenses in Q1 2025 were 140 million yuan, up 23% year-on-year but down 11% quarter-on-quarter [2]. - Non-operating income for Q1 was approximately 63 million yuan, mainly from increased government subsidies [2]. Group 2: Share Buyback and Future Growth - The company plans to repurchase 3.21 to 6.41 million shares using 100 to 200 million yuan of its own funds, which represents 0.23% to 0.47% of its total share capital, with a maximum buyback price of 31.18 yuan/share [3]. - The buyback amount is equivalent to 34% to 69% of the company's net profit attributable to shareholders for 2024, indicating a strong buyback effort that may boost market confidence [3]. - The company is investing 1.05 billion yuan in a new project in Baotou to produce 20,000 tons of high-performance rare earth permanent magnetic materials, expected to be operational in two years, increasing total capacity to 60,000 tons [3]. - The company allocated 320 million yuan for R&D in 2024, accounting for about 4.7% of its revenue, and is progressing on a project in Mexico to establish a production line for 1 million magnetic components [3]. - The company is expected to benefit from advancements in humanoid robot technology, potentially opening a second growth curve [3].

Investment Ratings - The report does not explicitly provide investment ratings for the industry sectors discussed. Core Insights - The industrial metals sector is experiencing an upward turning point in market conditions, particularly for copper and aluminum, driven by easing trade tensions between the US and China [13]. - Precious metals, particularly gold, are facing downward pressure due to a stronger US dollar and reduced appeal as a safe-haven asset amid improving trade relations [15]. - The rare earth sector is witnessing a simultaneous increase in both domestic and international prices, driven by export controls and a recovering market sentiment [32]. Summary by Sections 1. Overview of Bulk and Precious Metals Market - Copper prices increased slightly, with LME copper at $9,440.00 per ton and Shanghai copper at ¥78,100 per ton. A notable rise in copper inventory was observed, ending a ten-week decline, attributed to weakened downstream demand [13]. - Aluminum prices rose by 2.75% to $2,484.50 per ton, with domestic inventories remaining low despite a slight decrease in stock levels [14]. - Gold prices fell by 1.13% to $3,205.30 per ounce, influenced by a stronger dollar and easing trade tensions between the US and China [15]. 2. Updates on Bulk and Precious Metals Fundamentals 2.1 Copper - The report highlights a significant increase in copper inventory, reaching 132,000 tons, marking a shift in market dynamics due to reduced demand [13]. - The processing fee for imported copper concentrate has dropped to -$43.05 per ton, indicating pressure on the supply side [13]. 2.2 Aluminum - Domestic electrolytic aluminum ingot inventory decreased to 581,000 tons, remaining at a near three-year low, while the cost of prebaked anodes increased slightly [14]. - The report notes that the Guinean government has revoked mining licenses for over 40 companies, impacting aluminum ore production capacity [14]. 2.3 Precious Metals - The report discusses the impact of US-China trade negotiations on gold prices, with a significant reduction in SPDR gold holdings [15]. - Economic indicators such as the US CPI and PPI suggest a cooling inflation environment, which may influence future monetary policy [15]. 3. Overview of Minor Metals and Rare Earths Market - The rare earth market is experiencing price increases, particularly for dysprosium and terbium, driven by export controls and a recovering market sentiment [32]. - The antimony market is expected to see price recovery due to supply disruptions from Myanmar and ongoing anti-smuggling efforts in China [33]. - Tin prices have risen, supported by positive expectations from US-China trade negotiations, despite some production concerns [35]. 4. Updates on Minor Metals and Rare Earths Fundamentals 4.1 Rare Earths - Prices for rare earth elements are showing upward trends, with significant increases in overseas prices following export control measures [32]. - The report anticipates a continued tightening of supply due to regulatory changes and geopolitical factors affecting production [32]. 4.2 Antimony - Antimony prices are expected to recover as supply constraints from Myanmar persist, alongside increased demand from various sectors [33]. 4.3 Tin - Tin prices are supported by a favorable market outlook, driven by demand recovery in sectors such as semiconductors and photovoltaics [35].

Investment Rating - The report maintains a "Positive" investment rating for the non-ferrous and steel industry [5]. Core Viewpoints - The report emphasizes the importance of closely monitoring investment opportunities in strategic metals such as rare earths, especially following significant price increases in overseas markets due to China's export controls [8][13]. - In the steel sector, there has been a notable increase in rebar consumption and a slight rise in overall steel prices, indicating a positive trend in demand [14][38]. Summary by Sections 1. Core Viewpoints: Focus on Strategic Metals - The report highlights the strategic importance of rare earth metals, particularly in light of recent U.S.-China trade discussions that aim to reduce tariffs, which could enhance global economic recovery [8][13]. - Following China's export restrictions on heavy rare earths, overseas prices have surged, with dysprosium and terbium prices in Europe increasing nearly threefold [8][13]. 2. Steel Sector: Price Trends - Rebar consumption has risen significantly, with a reported consumption of 2.6 million tons, marking a 21.69% increase week-on-week [14][18]. - The overall steel price index has seen a slight increase of 0.92%, with hot-rolled coil prices rising to 3,320 CNY/ton, a 1.40% increase, and cold-rolled prices at 3,767 CNY/ton, a 1.31% increase [14][38]. 3. New Energy Metals: Supply and Price Declines - Lithium production in April 2025 was reported at 70,640 tons, a year-on-year increase of 40.38%, but with a slight month-on-month decline [15][42]. - Nickel production has seen a significant year-on-year decrease of 14.18%, while cobalt prices have shown a downward trend [15][44]. 4. Industrial Metals: Copper and Aluminum - Copper smelting fees have slightly increased, with the LME aluminum price settling at 2,474 USD/ton, reflecting a minor week-on-week rise of 0.20% [16]. - The production costs for electrolytic aluminum have decreased significantly, leading to increased profitability for producers [16][28]. 5. Precious Metals: Market Adjustments - Gold prices have experienced a notable decline of 3.72% week-on-week, attributed to reduced demand for safe-haven assets following positive developments in U.S.-China relations [17].

证券代码：300748 证券简称：金力永磁 公告编号：2025-028 江西金力永磁科技股份有限公司 关于参加江西辖区上市公司 2025 年投资者 为进一步加强与投资者的互动交流，江西金力永磁科技股份有限公司（以下 简称"公司"）将参加由江西省上市公司协会举办的"2025 年江西辖区上市公司 投资者网上集体接待日活动"，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （https://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP，参 与本次互动交流，活动时间为 2025 年 5 月 21 日 （周三）15:30-17:00。届时公 司高管将在线就公司 2024 年度业绩、公司治理、发展战略、经营状况、融资计 划、股权激励和可持续发展等投资者关心的问题，与投资者进行沟通与交流，欢 迎广大投资者踊跃参与！ 特此公告！ 江西金力永磁科技股份有限公司 董事会 2025 年 5 月 16 日 网上集体接待日活动的公告 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。 ...