Ge Long Hui A P P·2025-10-22 06:25Core Insights - The report from Minsheng Securities highlights that Jinli Permanent Magnet achieved a net profit attributable to shareholders of 515 million yuan in the first three quarters of 2025, representing a year-on-year increase of 161.81% [1] - In Q3 2025, the company reported a net profit of 210 million yuan, marking a year-on-year growth of 172.65% and a quarter-on-quarter increase of 45.75%, aligning with performance forecasts [1] Production Capacity and Growth - The company has successfully built a production capacity of 40,000 tons for rare earth permanent magnet blanks and aims to reach 60,000 tons by 2027 [1] - Jinli is expanding into the humanoid robot magnetic component sector, with a factory in Mexico under construction for a capacity of 1 million sets, and has already made some small batch deliveries in the first three quarters of 2025 [1] Future Profit Projections - Due to rising rare earth prices and continuous capacity expansion, the company is expected to achieve net profits of 721 million yuan, 872 million yuan, and 1.084 billion yuan for the years 2025, 2026, and 2027 respectively, with corresponding EPS of 0.53 yuan, 0.64 yuan, and 0.79 yuan [1] - The projected PE ratios based on the closing price on October 20 are 76, 63, and 51 times for the years 2025, 2026, and 2027 respectively, maintaining a "recommended" rating [1]