NBYS(SH:600366) Chang Jiang Shang Bao·2025-07-01 00:02Core Viewpoint - Ningbo Yunsheng has successfully launched new production capacity for high-performance neodymium-iron-boron permanent magnet materials, with a focus on meeting the growing market demand in sectors such as electric vehicles and wind power generation [1][2]. Production Capacity - The company has established an annual production capacity of 21,000 tons of high-performance neodymium-iron-boron materials as of April 2025, which will increase to 26,000 tons with the addition of 5,000 tons from the new project [2]. - The new production project is part of a fundraising initiative that raised 1.045 billion yuan in 2022, aimed at expanding production capacity [1]. Market Applications - Neodymium-iron-boron materials are widely used in various green and energy-saving applications, including electric vehicles, consumer electronics, urban rail transit, industrial robots, and wind power generation [2]. - The company aims to enhance its market share and strengthen its profitability in these sectors through the new production capacity [1]. Financial Performance - In 2024, the company reported a revenue of 5.041 billion yuan, a decrease of 6.11% year-on-year, but achieved a net profit of 95.08 million yuan, a significant recovery from a loss of 227 million yuan in 2023 [3]. - In the first quarter of 2025, the company recorded a revenue of 1.122 billion yuan, a year-on-year increase of 9.36%, and a net profit of 37.22 million yuan, marking a substantial turnaround from the previous year's loss [3][4]. Business Segmentation - The sales revenue from neodymium-iron-boron materials for electric vehicle applications reached 574 million yuan in the first quarter of 2025, an increase of 43.14% year-on-year, capturing approximately 25.3% of the domestic market for main drive motors in new energy passenger vehicles [4]. - Conversely, sales in the consumer electronics sector decreased by 18.09% to 154 million yuan, and sales for industrial and other applications fell by 15.32% to 304 million yuan [4].