Investment Rating - The investment rating for the company is "Accumulate" [3] Core Views - The company is expected to benefit from increased demand in humanoid robots and new energy vehicles, which will contribute to new performance growth points [1][2] - The company has achieved significant growth in production and sales, with a notable recovery in profitability in Q3 2024 [3] - The company plans to invest approximately $100 million in a new production line project in Mexico, which is expected to stabilize its development cycle [3] Summary by Relevant Sections Performance Overview - In the first three quarters of 2024, the company achieved operating revenue of 5.01 billion yuan (down 0.7% year-on-year) and a net profit attributable to shareholders of 197 million yuan (down 60.2% year-on-year) [3] - Q3 revenue was 1.65 billion yuan (up 2.0% year-on-year, down 9.5% quarter-on-quarter), with a net profit of 77.21 million yuan (down 52.2% year-on-year, up 329% quarter-on-quarter) [3] Production and Sales - The company has maintained a high utilization rate of over 90% for its neodymium-iron-boron magnets, with a production and sales volume of approximately 15,350 tons (up about 40% year-on-year) [3] - The company has effectively countered the negative impact of declining prices through increased volume, achieving stable operations [3] Profitability Improvement - The company's gross margin and net margin for the first three quarters of 2024 were 10.0% and 4.0%, respectively, down 6.56 percentage points and 5.84 percentage points year-on-year [3] - In Q3 alone, the gross margin and net margin improved to 12.8% and 4.8%, respectively, with significant quarter-on-quarter increases [3] Future Outlook - The company is expected to see a revenue increase in the coming years, with projected revenues of 6.78 billion yuan in 2024, 9.52 billion yuan in 2025, and 11.14 billion yuan in 2026 [7] - The company is positioned to maintain its leading status in the industry as it expands its production capacity [3]

今天呢由我首先给大家介绍一下我们今年前三季度的这个业绩情况首先呢我来介绍一下公司的这个概览 军内泳池是一家集研发生产和销售高性能凝血防泳池材料磁阻电还有布局系统回收的综合的高新技术企业我们现有的客户主要广泛用于新能源汽车还有节能变频空调风电等等领域我们这个产业也是国家政策近年来大力支持的产业 截至今年前三季度公司的包头二期还有宁波还有我们的贛州高效节能电机项目都在按计划进行建设我们规划到二五年建成四万吨的高性能稀土泳池材料的毛坯产能下一页活动篇主要介绍我们公司产品的形态我们是根据客户的要求提供定制化的产品 下一页是我们截至930的这个股丛结构我们是一家民营企业股丛结构非常多元化我们公司的简单历史是08年上市08年成立然后我们率先涉足这个风电随后涉足这个空调还有汽车领域18年我们于深交所上市22年我们正式于港交所上市也是行业中的唯一一家AGH的这个上市公司 下面一个章节我来给大家简单更新一下我们第三季度的运营情况我们公司前三季度其实在手订单非常充足我们也积极地利用这个契机提高我们的市场份额在报告期内我们整体的产能利用率其实是超过了90%我们公司的整个词材的产销量同比也有增长大约40%所以我们实现了营收大概是50 ...

Investment Rating - The report maintains a "Recommended" rating for the company [1][3]. Core Views - The company's Q3 earnings showed significant improvement on a quarter-over-quarter basis, driven by a rebound in the production of magnetic components for humanoid robots [1]. - The average tax-inclusive price of praseodymium-neodymium metal decreased by approximately 28.69% year-on-year, impacting the company's performance [1]. - The company is expected to benefit from stable and rebounding rare earth prices, with supply tightening due to regulatory changes [1]. - The company is actively expanding its production capacity and investing in R&D for humanoid robot magnetic components, which is anticipated to create new growth opportunities [1]. Financial Performance Summary - For the first three quarters of 2024, the company achieved operating revenue of 5.014 billion yuan, a year-on-year decrease of 0.7%, and a net profit attributable to shareholders of 197 million yuan, down 60.17% year-on-year [1]. - In Q3 2024, the company reported operating revenue of 1.653 billion yuan, a year-on-year increase of 1.99%, but a quarter-over-quarter decrease of 9.46% [1]. - The net profit for Q3 2024 was 77.21 million yuan, a year-on-year decrease of 52.24%, but a quarter-over-quarter increase of 329.29% [1]. - The company's gross profit margin for the first three quarters of 2024 was 10.03%, with Q3 gross profit margin at 12.81%, reflecting a quarter-over-quarter increase of 5.31 percentage points [1]. Earnings Forecast - The company is projected to achieve net profits of 305 million yuan, 484 million yuan, and 645 million yuan for the years 2024, 2025, and 2026, respectively, with corresponding EPS of 0.23 yuan, 0.36 yuan, and 0.48 yuan per share [2][4]. - The PE ratios for the years 2024, 2025, and 2026 are expected to be 74, 46, and 35 times, respectively, based on the closing price on October 25 [2][4].

证券时报e公司讯，金力永磁在业绩说明会表示，目前稀土价格相较往期，仍处于大周期的底部，存在 一定幅度波动。 公司作为新能源和节能环保领域高性能稀土永磁材料的领先供应商，稀土价格变动保持相对稳定，有利 于稀土永磁材料行业的发展，亦有利于公司经营业绩。 公司基于"客户导向，价值共创"的公司价值观，一贯坚持诚信履约，保障客户端交付，为此，公司建立 了完善的稀土原材料采购机制以对冲风险，未来公司会密切监控稀土原材料价格走势，灵活审慎调整库 存与采购策略。 ...

证券代码：300748 证券简称：金力永磁 江西金力永磁科技股份有限公司 投资者关系活动记录表 编号：2024-012 | --- | --- | --- | |-----------------------|---------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | 投资者关系 活动类别 | □ 特定对象调研 □ □ 媒体采访 √ □ 新闻发布会 □ □ 现场参观 □ 其他 | 分析师会议 业绩说明会 路演活动 （请文字说明 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 19.26 CNY [4][5]. Core Views - The company is expected to stabilize and recover as the prices of rare earth materials have stopped declining. By 2025, the company's production capacity is projected to reach 40,000 tons, which will support performance release. Additionally, the company's layout in the humanoid robot sector is anticipated to open a second growth curve [3][4]. Summary by Sections Financial Performance - For the first three quarters of 2024, the company reported revenue of 5.01 billion CNY, a year-on-year decrease of 1%. The net profit attributable to the parent company was 197 million CNY, down 60% year-on-year, while the non-recurring net profit was 89 million CNY, down 80% year-on-year. In Q3 alone, the net profit attributable to the parent company was 77 million CNY, a decrease of 52% year-on-year but an increase of 329% quarter-on-quarter [4][5]. - The company's magnetic material production for the first three quarters was approximately 15,000 tons, a year-on-year increase of 40%, with Q3 production at about 5,400 tons, up 27% year-on-year [4]. Production Capacity and Growth - The company is gradually releasing 12,000 tons of production capacity from its Baotou Phase II project this year. By the end of 2024 and into 2025, the company plans to launch additional projects, including a 2,000-ton energy-saving motor magnetic material project in Ganzhou and a 3,000-ton high-end magnetic material and component project in Ningbo, bringing total capacity to 40,000 tons, a 74% increase from the end of 2023 [4]. Research and Development - The company has invested 230 million CNY in R&D this year, accounting for about 5% of its revenue. It is planning to build a new production line in Mexico with an annual capacity of 1 million sets of magnetic components, which is currently progressing steadily. As humanoid robot technology matures and scales up, the company is expected to initiate a second growth curve [4][5].

Investment Rating - Maintains a "Buy" rating for the company [1] Core Views - The company's revenue for the first three quarters of 2024 was RMB 5.014 billion, a year-on-year decrease of 0.72%, while net profit attributable to the parent company was RMB 197 million, a year-on-year decrease of 60.17% [1] - In 3Q24, revenue was RMB 1.653 billion, a quarter-on-quarter decrease of 9.46%, but a year-on-year increase of 1.99%, with net profit attributable to the parent company at RMB 77 million, a quarter-on-quarter increase of 329.29% but a year-on-year decrease of 52.24% [1] - The company's profitability improved in 3Q24 due to the execution of locked-price orders, with gross profit margin increasing by 5.31 percentage points to 12.81% and gross profit increasing by 54.56% to RMB 212 million [1] - The company is actively reducing costs and improving efficiency, with R&D expenses increasing by 0.39 percentage points to 4.67% in 3Q24 [1] - The company is establishing a wholly-owned production subsidiary to separate production and investment management functions, aiming to improve management efficiency [1] - The company is actively expanding into the magnetic component business, potentially benefiting from the development of humanoid robots [1] - The company is expected to benefit from the overall recovery in rare earth prices, with revenue forecasts for 2024-2026 at RMB 6.895 billion, RMB 8.230 billion, and RMB 9.640 billion, respectively, and net profit attributable to the parent company at RMB 353 million, RMB 539 million, and RMB 656 million, respectively [1] Financial Performance - The company's capacity utilization rate exceeded 90% in the first three quarters of 2024, with production and sales of high-performance magnetic materials increasing by approximately 40% year-on-year [1] - In 3Q24, the average market prices of praseodymium-neodymium alloy and neodymium-iron-boron increased by 1.76% and 1.05% quarter-on-quarter, respectively, to RMB 481,900/ton and RMB 352.45/kg [1] - The company's operating expenses in 3Q24 decreased by 0.33% quarter-on-quarter to RMB 122 million, with the operating expense ratio increasing by 0.68 percentage points quarter-on-quarter but decreasing by 0.17 percentage points year-on-year [1] - The company's sales expense ratio decreased by 0.36 percentage points to 0.46%, and the financial expense ratio decreased by 0.69 percentage points to -0.64% in 3Q24 [1] Strategic Initiatives - The company is focusing on the development of magnetic components for humanoid robots, leveraging advancements in AI and robotics, particularly with Tesla's Optimus robot showing improved autonomous and interactive capabilities [1] - The company is expected to benefit from the "inventory profit" effect due to the natural production cycle of magnetic materials during the rise in rare earth prices [1] - The company is expected to see sustained growth in rare earth prices due to slowing quota growth, significant demand recovery, and the implementation of rare earth management regulations [1] Market Sentiment - The market's average investment recommendation for the company is "Buy," with a score of 1.00, indicating strong positive sentiment [6]

Investment Rating - The investment rating for the company is "Recommended (Maintain)" [1][5] Core Views - The company reported a total revenue of 1.653 billion yuan in Q3 2024, a year-on-year increase of 1.99%, but a net profit attributable to shareholders of 77 million yuan, a year-on-year decrease of 52.24% [3] - The average price of rare earth materials decreased by 28.7% year-on-year, impacting the company's performance, although there was a quarter-on-quarter improvement in Q3 with a net profit growth of 329.29% [3] - The company has sufficient orders on hand and is increasing the production and sales of high-performance products, with a production capacity utilization rate exceeding 90% [3] - The company is steadily advancing its capacity construction projects, aiming to establish a total capacity of 40,000 tons of high-performance rare earth permanent magnet materials by 2025 [3] Summary by Sections Financial Performance - In the first three quarters of 2024, the company achieved a revenue of 5.014 billion yuan, a year-on-year decrease of 0.72%, and a net profit of 197 million yuan, a year-on-year decrease of 60.17% [3] - The gross profit margin for Q3 was 12.81%, an increase of 5.31 percentage points quarter-on-quarter [3] Market Position and Strategy - The company is actively increasing its market share by leveraging sufficient orders and enhancing the production of high-performance magnetic materials, with a year-on-year increase of approximately 40% in production and sales [3] - The company is investing in R&D for humanoid robot magnets and components, aiming to improve production management and efficiency [3] Future Outlook - The company plans to complete several capacity projects, including a 12,000 tons/year project in Baotou and a 3,000 tons/year high-end magnetic material project in Ningbo, which are expected to enhance market share as new capacities come online [3]

财联社财经通讯社打开APP16:58:42【金力永磁：前三季度净利润1.97亿元 同比下降60.17%】财联社10 月24日电，金力永磁发布2024年第三季度报告，前三季度公司实现营业收入50.14亿元，同比下降 0.72%；归属于上市公司股东的净利润1.97亿元，同比下降60.17%。 第三季度公司实现营业收入16.53亿元，同比增长1.99%；归属于上市公司股东的净利润7720.65万元， 同比下降52.24%。 金力永磁-1.84%A股公告速递查看公告原文财联社声明：文章内容仅供参考，不构成投资建议。 投资者据此操作，风险自担。 2024-10-24 16:58:4231890 阅读商务合作发送 ...

证券代码：300748 证券简称：金力永磁 公告编号：2024-061 江西金力永磁科技股份有限公司 第四届董事会第三次会议决议公告 鉴于公司目前已在多地建设生产基地，根据公司发展规划，为整合集团业务 和资产，优化内部资源配置，提高经营管理效率，公司拟将母公司现有生产经营 性资产进行剥离，投资设立生产型全资子公司。 表决结果：赞成票 9 票；反对票 0 票；弃权票 0 票。 《江西金力永磁科技股份有限公司关于投资设立全资子公司的公告》全文刊 登 于 中 国 证 监 会 指 定 的 创 业 板 上 市 公 司 信 息 披 露 媒 体 巨 潮 资 讯 网 （www.cninfo.com.cn）上，供投资者查阅。 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。 江西金力永磁科技股份有限公司（以下简称"公司"）于 2024 年 10 月 14 日以电话、邮件、书面方式通知各位董事，公司第四届董事会第三次会议于 2024 年 10 月 24 日（星期四）以通讯表决方式召开。会议由董事长蔡报贵先生召集并 主持，会议应出席董事 9 名，实际出席董事 9 名。会议的召集召开和 ...