Core Viewpoint - The company, Jinli Permanent Magnet, has confirmed its involvement in the production of high-performance neodymium-iron-boron permanent magnet materials, which are essential components for low-altitude flying vehicles, indicating a potential growth area in this sector [1] Company Summary - Jinli Permanent Magnet has acknowledged that its high-performance neodymium-iron-boron permanent magnet materials are critical for low-altitude flying equipment [1] - The company has already made small batch deliveries in this field, suggesting initial market engagement and product readiness [1] Industry Summary - The low-altitude flying vehicle sector is experiencing rapid development, which is expected to drive significant demand for high-performance neodymium-iron-boron permanent magnet materials in the future [1]

Core Viewpoint - Jinli Permanent Magnet announced its investment in Yinhai New Materials, a company specializing in the recycling and utilization of rare earth materials, which will enhance its green recycling capabilities and meet client demands for recycled rare earth raw materials [1] Group 1: Company Overview - Yinhai New Materials focuses on the production and processing of rare earth oxides, including praseodymium-neodymium oxide, dysprosium oxide, terbium oxide, and gadolinium oxide [1] - The company has an annual production capacity of 5,000 tons for its rare earth product waste recycling project, which has received approval from relevant authorities in Inner Mongolia [1] Group 2: Certifications and Partnerships - Yinhai New Materials has obtained the ISO 14021 certification for recycled materials from SGS, validating its commitment to sustainable practices [1] - Jinli Permanent Magnet holds a 51% stake in Yinhai New Materials, allowing for consolidated financial reporting and leveraging Yinhai's advantages in the recycling sector [1] Group 3: Strategic Goals - The partnership aims to increase the proportion of green recycled materials in Jinli's product offerings, aligning with client needs for recycled rare earth materials [1]

Core Viewpoint - The company, Jinli Permanent Magnet, has confirmed that its products are widely used in various sectors, including new energy vehicles, energy-saving variable frequency air conditioners, wind power generation, robotics, industrial servo motors, 3C electronics, low-altitude aircraft, and energy-saving elevators, with deliveries already made in the bicycle and two-wheeled electric vehicle markets [1]. Group 1 - The company's products are applied in new energy vehicles and automotive components [1] - The company has also delivered products for bicycles and two-wheeled electric vehicles [1] - Other applications include energy-saving variable frequency air conditioners, wind power generation, robotics, and industrial servo motors [1]

格隆汇12月19日丨金力永磁(300748.SZ)在投资者互动平台表示,公司不涉及军工业务。 ...

Core Viewpoint - The stock of Jinli Permanent Magnet has experienced a decline of 2.03% on December 18, with a current price of 32.38 yuan per share and a total market capitalization of 44.542 billion yuan. Despite this, the stock has risen 84.18% year-to-date, although it has seen a decline in recent trading days [1]. Financial Performance - For the period from January to September 2025, Jinli Permanent Magnet achieved a revenue of 5.373 billion yuan, representing a year-on-year growth of 7.16%. The net profit attributable to shareholders reached 515 million yuan, marking a significant increase of 161.81% [2]. Shareholder Information - As of September 30, 2025, the number of shareholders for Jinli Permanent Magnet increased to 134,000, up by 35.31% from the previous period. The average circulating shares per person remained at 0 shares [2]. Dividend Distribution - Since its A-share listing, Jinli Permanent Magnet has distributed a total of 1.471 billion yuan in dividends, with 1.084 billion yuan distributed over the past three years [3]. Institutional Holdings - As of September 30, 2025, Hong Kong Central Clearing Limited is the fourth largest circulating shareholder, holding 47.706 million shares, an increase of 41.4024 million shares from the previous period. E Fund's ChiNext ETF and Southern CSI 500 ETF have seen reductions in their holdings [3].

Core Viewpoint - The recent block trade of Jinli Permanent Magnet on December 12 indicates significant institutional activity, with a total transaction amount of 5.1264 million yuan and a trading price of 35.04 yuan, reflecting a stable market interest in the stock [1] Trading Activity - On December 12, a block trade occurred with a volume of 146,300 shares and a transaction value of 5.1264 million yuan, executed at a price of 35.04 yuan, which was equal to the closing price of the day [1] - Over the past three months, Jinli Permanent Magnet has recorded a total of 59 block trades, amounting to 299 million yuan [1] Stock Performance - The closing price of Jinli Permanent Magnet on the day of the block trade was 35.04 yuan, representing a 1.39% increase, with a daily turnover rate of 3.48% and a total trading volume of 1.366 billion yuan [1] - In the last five days, the stock has experienced a cumulative decline of 3.84%, with a net outflow of funds totaling 273 million yuan [1] Margin Financing - The latest margin financing balance for Jinli Permanent Magnet stands at 1.701 billion yuan, having increased by 136 million yuan over the past five days, which is an increase of 8.70% [1] Analyst Ratings - In the last five days, one institution has provided a rating for the stock, with the highest target price set at 38.50 yuan by Guotou Securities, as reported on December 10 [1]

Core Viewpoint - The report from Guotou Securities indicates that Jinli Permanent Magnet achieved a revenue of 5.373 billion yuan in the first three quarters of 2025, representing a year-on-year growth of 7.16% [1] Revenue Performance - In Q3 2025, the company reported a revenue of 1.866 billion yuan, which is a year-on-year increase of 12.91% [1] - The increase in revenue is primarily driven by the growth in sales from the new energy vehicle and energy-saving air conditioning sectors, with year-on-year sales growth of 23.46% and 18.48% respectively [1] - The overseas business continues to grow, particularly in the U.S. market, where export revenue reached 354 million yuan in the first three quarters, marking a year-on-year increase of 43.92% [1] Profitability - The overall gross margin for the first three quarters was 19.49%, reflecting a year-on-year increase of 9.46 percentage points [1] - The improvement in gross margin is attributed to the release of new production capacity, optimization of product structure, and the company's flexible inventory management strategy to mitigate raw material price fluctuations [1] Valuation - The current price-to-earnings (PE) ratios are 68.1, 49.7, and 40.3 times for the respective years [1] - The company maintains a "Buy-A" rating with a 6-month target price of 38.5 yuan per share, corresponding to an estimated PE of approximately 55 times for 2026 [1]

Group 1 - The company achieved operating revenue of 5.373 billion yuan in the first three quarters of 2025, a year-on-year increase of 7.16%, with Q3 revenue reaching 1.866 billion yuan, up 12.91% year-on-year. The growth was driven by increased sales in the new energy vehicle and energy-saving air conditioning sectors, with sales growth of 23.46% and 18.48% respectively. Additionally, overseas business, particularly in the U.S. market, saw revenue of 354 million yuan, a year-on-year increase of 43.92% [1] - The overall gross profit margin for the first three quarters was 19.49%, an increase of 9.46 percentage points year-on-year, attributed to the release of new production capacity and product structure optimization, along with flexible inventory strategies to manage raw material price fluctuations [1] Group 2 - The company's expense ratio for the first three quarters was 9.34%, an increase of 2.24 percentage points year-on-year. The sales expense ratio was 0.76%, up 0.10 percentage points, mainly due to increased market expansion efforts. The management expense ratio was 2.92%, up 0.59 percentage points, primarily due to increased equity incentive costs. The R&D expense ratio was 5.88%, up 1.29 percentage points, reflecting increased investment in technology and raw materials [2] - The financial expense ratio was -0.22%, up 0.26 percentage points, with interest expenses increasing but offset by interest income. Overall, increased expenses supported business expansion and R&D investment, leading to a net profit attributable to shareholders of 515 million yuan, a year-on-year increase of 161.81%, with Q3 net profit reaching 211 million yuan, up 172.65% year-on-year [2] Group 3 - The company received a general export license on December 5, which simplifies and accelerates the export process for magnetic material companies like Jinli Permanent Magnet. This qualification is expected to enhance the convenience and certainty of supplying overseas customers, particularly in the context of the current boom in the U.S. robotics industry, allowing the company to better secure orders and benefit from this industrial trend [3] Group 4 - The company is projected to achieve operating revenues of 9.103 billion, 11.343 billion, and 13.689 billion yuan for 2025-2027, with net profits of 706 million, 966 million, and 1.192 billion yuan respectively. Corresponding EPS is expected to be 0.51, 0.70, and 0.87 yuan per share, with current stock prices reflecting PE ratios of 68.1, 49.7, and 40.3 times. The company maintains a "Buy-A" rating with a 6-month target price of 38.5 yuan per share, corresponding to a 2026 PE of approximately 55 times [4]

Investment Rating - The report maintains a "Buy-A" rating for the company with a 6-month target price of 38.5 CNY per share, corresponding to a PE ratio of approximately 55 times for 2026 [4][6]. Core Insights - The company achieved a revenue of 5.373 billion CNY in the first three quarters of 2025, representing a year-on-year growth of 7.16%. In Q3 2025 alone, revenue reached 1.866 billion CNY, up 12.91% year-on-year. The growth was primarily driven by increased sales in the new energy vehicle and energy-saving air conditioning sectors, with respective sales growth of 23.46% and 18.48% [1]. - The company’s gross margin improved to 19.49%, an increase of 9.46 percentage points year-on-year, due to the release of new production capacity and cost optimization strategies [1]. - The company reported a net profit of 515 million CNY for the first three quarters of 2025, a significant increase of 161.81% year-on-year, with Q3 net profit reaching 211 million CNY, up 172.65% year-on-year [2]. - The company received a general export license, which is expected to simplify and accelerate its export processes, enhancing its ability to fulfill overseas orders, particularly in the U.S. market [3]. Financial Summary - The company is projected to achieve revenues of 9.103 billion CNY, 11.343 billion CNY, and 13.689 billion CNY for the years 2025, 2026, and 2027, respectively. Corresponding net profits are expected to be 706 million CNY, 966 million CNY, and 1.192 billion CNY [4][10]. - The earnings per share (EPS) are forecasted to be 0.51 CNY, 0.70 CNY, and 0.87 CNY for 2025, 2026, and 2027, respectively [4][10]. - The company’s total market capitalization is approximately 48.063 billion CNY, with a circulating market capitalization of about 39.506 billion CNY [6].

金力永磁（300748）(06680)公布，2025年12月9日，公司收到董事、高级管理人员吕锋先生，高级管理 人员黄长元先生、于涵先生、鹿明先生、谢辉女士分别出具的《股份减持计划实施完成告知函》，其减 持计划已实施完成。吕锋先生、黄长元先生、鹿明先生、谢辉女士分别减持52.89万股、33万股、39.5万 股及36.76万股公司股份，合计减持162.15万股公司股份。 ...