Core Viewpoint - Galaxy Magnetics has initiated an external acquisition of Kyoto Longtai Technology, marking its first external acquisition since its listing in 2010, which is a significant strategic shift for the company [3][10]. Group 1: Acquisition Details - On September 15, Galaxy Magnetics announced a suspension of trading to acquire 100% of Kyoto Longtai's equity, having signed a letter of intent with 14 counterparties [3][10]. - The acquisition will be financed through a combination of issuing shares and cash payments [4][10]. - The deal is expected to enhance Galaxy Magnetics' revenue potential, especially as it aims to break through the 1 billion CNY revenue barrier [18]. Group 2: Company Background - Since its IPO in 2010, Galaxy Magnetics has not engaged in any external acquisitions or refinancing, with its only previous transaction being the sale of a subsidiary [3][5]. - The company has maintained stable financial performance, with revenues fluctuating between 800 million CNY and 1 billion CNY since 2021, and net profits consistently above 150 million CNY [5][12]. - Galaxy Magnetics specializes in bonded neodymium iron boron magnets, primarily used in automotive micro-motors and smart appliances, with 90.33% of its 2024 revenue coming from this segment [12]. Group 3: Market Context - The rare earth industry has seen significant valuation increases due to policy changes, with Galaxy Magnetics' stock price rising from under 13 CNY to over 32 CNY in the past year [3][9]. - The rare earth sector, represented by companies like Northern Rare Earth and China Rare Earth, has experienced an average increase of 150.8% this year, outperforming other sectors [7]. - The acquisition of Kyoto Longtai, which has a 20% market share in the electronic parking brake (EPB) segment, aligns with the growing demand for bonded neodymium iron boron magnets in the automotive industry [14][17].

记者丨 董鹏 编辑丨骆一帆 异常"稳重"的银河磁体，突然启动了外部并购。 9月15日，银河磁体发布停牌公告，拟购买同在成都的京都龙泰科技有限公司（下称"京都龙泰"）100%股权，并与14名交易对方已签署意向性 协议，初步达成购买资产意向。 值得注意的是，自2010年上市以来，银河磁体始终未进行过外部收购与再融资，仅有的一次并购事件还是对外出售其子公司股权，公司又为何 会选择在当前节点展开并购？ 公开资料显示，京都龙泰为银河磁体同业公司，主营产品为铁氧体永磁、烧结稀土永磁、粘结稀土永磁，在EPB（电子驻车）用稀土永磁铁氧 体材料领域具备较高市场份额。 而根据银河磁体此前判断，随着汽车向舒适化、节能化、自动化及智能化的发展，汽车电机中用到的粘结钕铁硼磁体将保持增加。 同时，过去几年银河磁体业绩增长也出现瓶颈，公司营收自2022年逼近10亿元的历史峰值后，连续回落至今。 不过，受到稀土行业政策变化的影响，相关公司估值提升非常明显，银河磁体股价亦由去年同期的不足13元升至当前的32元以上，股价升值非 常明显。 此次，银河磁体亦计划使用发行股份及支付现金的方式，来支付收购京都龙泰的交易对价。 由于主营业务的"to B" ...

Core Viewpoint - Galaxy Magnetics has initiated an external acquisition of Kyoto Longtai Technology, marking its first external acquisition since its listing in 2010, driven by the need to enhance its market position and address recent performance bottlenecks [1][5][10]. Group 1: Acquisition Details - The company plans to acquire 100% of Kyoto Longtai's equity and has signed a letter of intent with 14 counterparties [1][10]. - The acquisition will be financed through a combination of issuing shares and cash payments [2][10]. - The transaction is not expected to change the actual control of Galaxy Magnetics [10]. Group 2: Market Context - The rare earth industry has seen significant valuation increases due to policy changes, with Galaxy Magnetics' stock price rising from under 13 yuan to over 32 yuan in the past year [1][6][9]. - The stock price has remained high, providing a favorable environment for the acquisition, as the company can leverage its increased valuation to minimize costs in the share issuance process [9][10]. Group 3: Company Performance - Galaxy Magnetics has maintained stable financial performance, with revenues fluctuating between 800 million to 1 billion yuan since its listing, and net profits consistently above 150 million yuan [4][11]. - The company has not reported any losses since its IPO and has only engaged in one previous transaction, which was the sale of a subsidiary [4][5]. Group 4: Strategic Rationale - The acquisition of Kyoto Longtai, which specializes in ferrite permanent magnets and has a significant market share in electronic parking brake materials, aligns with Galaxy Magnetics' strategy to capitalize on the growing demand for bonded neodymium iron boron magnets in the automotive sector [1][13]. - The geographical proximity of the two companies facilitates the acquisition process and enhances operational synergies [14]. Group 5: Future Prospects - The successful acquisition could potentially help Galaxy Magnetics surpass the 1 billion yuan revenue threshold, especially with ongoing projects like the second phase of its subsidiary Chengdu Yin Magnetic Materials [15].

Core Viewpoint - Longi Technology plans to invest approximately 210 million yuan in its wholly-owned subsidiary in Vietnam to enhance its permanent magnet production capacity, which is expected to positively impact the company's long-term development and operational performance [1][2]. Group 1: Investment and Capacity Expansion - The investment will fund the construction of a second phase project that adds 10,000 tons of permanent magnet ferrite wet-pressed magnetic tile capacity and 25,000 tons of pre-burned material capacity [1]. - This move aims to localize the supply of raw materials for permanent magnet ferrite, thereby extending the company's industrial chain upstream [1]. Group 2: Market Position and Product Application - Magnetic materials are crucial functional materials with extensive applications in various sectors, including automotive, home appliances, consumer electronics, 5G communications, photovoltaic inverters, and charging piles [2]. - Longi Technology focuses on the mid-to-high-end market, with over 70% of its products used in the automotive sector [2]. Group 3: Global Manufacturing and Supply Chain - The company has established production bases in Anhui, Vietnam, and Thailand, supported by a global sales network, which enhances its manufacturing capabilities and cost advantages [2]. - The rapid expansion of scale, continuous technological advancements, and stable high-quality orders contribute to maintaining a high gross margin, while the global layout mitigates geopolitical risks [2]. Group 4: Vertical Integration and Market Diversification - Longi Technology has achieved vertical integration from "magnetic powder to magnetic core to inductor," creating technical barriers at the material level and ensuring lean production processes [2]. - The product range covers various applications, including new energy vehicles, variable frequency appliances, photovoltaic energy storage, and AI servers, effectively diversifying market risks [2].

Group 1 - The core viewpoint of the news is that Placo New Materials has shown significant stock performance and financial growth, with a notable increase in share price and market capitalization [1][2]. - As of September 16, Placo New Materials' stock price increased by 2.11% to 78.75 CNY per share, with a total market capitalization of 22.799 billion CNY [1]. - The company has experienced a year-to-date stock price increase of 46.62%, with a 12.50% rise over the last five trading days and an 82.50% increase over the last 60 days [1]. Group 2 - Placo New Materials operates in the non-ferrous metals sector, specifically in the magnetic materials sub-sector, and is involved in various concept sectors including inductors and consumer electronics [2]. - For the first half of 2025, the company reported a revenue of 861 million CNY, reflecting a year-on-year growth of 8.11%, and a net profit attributable to shareholders of 191 million CNY, up 3.28% [2]. - The company has distributed a total of 174 million CNY in dividends since its A-share listing, with 120 million CNY distributed over the past three years [3]. Group 3 - As of June 30, 2025, the number of shareholders for Placo New Materials increased by 3.76% to 20,800, while the average circulating shares per person decreased by 3.42% to 11,075 shares [2]. - Among the top ten circulating shareholders, Huaxia Industry Prosperity Mixed Fund holds 4.6918 million shares, an increase of 301,000 shares compared to the previous period [3]. - The company has seen changes in institutional holdings, with some funds increasing their positions while others have exited the top ten shareholder list [3].

Core Viewpoint - Longmag Technology plans to invest approximately 210 million yuan in the second phase of its Vietnam subsidiary, focusing on expanding production capacity for permanent magnet materials, which is crucial for the company's long-term development and market expansion [1][2]. Group 1: Investment and Production Capacity - The second phase project will include an annual production capacity of 25,000 tons of pre-baked ferrite and 10,000 tons of high-performance wet-pressed ferrite tiles, with a construction period of 36 months [1][2]. - This investment is part of Longmag Technology's three-year strategic plan, aiming to achieve a total annual production capacity of 60,000 tons of permanent magnets [2]. Group 2: Market Demand and Industry Trends - The rapid development of electric vehicles is expected to increase the demand for automotive motors, thereby boosting the market for ferrite materials, which are essential components in these motors [1]. - In the home appliance sector, the widespread adoption of variable frequency technology is anticipated to further expand the market for ferrite materials, as they are critical components in variable frequency motors [1]. Group 3: Strategic Positioning and Synergy - Longmag Technology's overseas expansion, including production bases in Thailand, facilitates resource sharing and collaborative development across different business segments [3]. - The synergy between the soft magnetic business in Thailand and the permanent magnetic business in Vietnam enhances the company's competitiveness by providing comprehensive solutions for clients in the electric vehicle sector [3].

Company Overview - Galaxy Magnetics (300127.SZ) has announced its first acquisition plan in 15 years to expand its business scale by purchasing 100% equity of Sichuan Kyoto Longtai Technology Co., Ltd. [1] - The acquisition will be financed through a combination of issuing shares and cash payments, with the transaction price yet to be determined [1][2]. - The company has signed a letter of intent with 14 shareholders of Kyoto Longtai, but a formal agreement has not yet been established, indicating significant uncertainty [1]. Acquisition Rationale - The acquisition aims to diversify Galaxy Magnetics' business portfolio, as both companies operate in the magnetic materials sector [2]. - The company sees growth potential in Kyoto Longtai's permanent ferrite business, especially given the limitations of the bonded neodymium iron boron magnet industry, which has led to slow revenue growth for Galaxy Magnetics [2]. Kyoto Longtai Profile - Kyoto Longtai, established in December 2011, is a national high-tech enterprise specializing in the research, development, production, and sales of permanent ferrite materials [2]. - The company has received multiple rounds of financing since 2017, including a notable 40 million yuan investment in 2018 [2]. Market Outlook - The global bonded neodymium iron boron magnet market is projected to reach $726 million by 2025 and $1.066 billion by 2032, with a CAGR of 5.64% from 2025 to 2032 [3]. - The high-performance rare earth permanent magnet market is expected to achieve sales of $8.215 billion in 2024, growing to $14.52 billion by 2031, with a CAGR of 8.6% from 2025 to 2031 [3]. Financial Performance - In the first half of the year, Galaxy Magnetics reported revenue of 389 million yuan, a year-on-year decrease of 2.01%, while net profit attributable to shareholders increased by 7.26% to 84.248 million yuan [3].

Group 1 - The core announcement is that Anhui Longi Magnetic Technology Co., Ltd. plans to invest approximately 210 million yuan in the second phase of its project in Vietnam, which includes the production of 25,000 tons of permanent magnetic ferrite pre-burned materials and 10,000 tons of high-performance permanent magnetic ferrite wet-pressed magnetic tiles annually [1][2] - The investment aims to enhance the company's capacity layout to meet future business development and market expansion needs, which is deemed significant for the company's long-term stable growth [1] - The rapid development of the new energy vehicle market is expected to drive the demand for automotive motors, thereby increasing the market demand for permanent magnetic ferrite, which is a core component of automotive motors [1] Group 2 - The second phase project is part of Longi Magnetic's major planning actions for the next three years, with the goal of achieving an annual production capacity of 60,000 tons of permanent magnets [2] - The project will localize the supply of raw materials, effectively reducing transportation costs and shortening supply cycles, while enhancing the company's control over raw material quality [2] - Longi Magnetic has production bases in Thailand and other locations, which facilitates resource sharing and collaborative development across different business segments [3]

格隆汇9月15日丨银河磁体(300127.SZ)在互动平台表示，公司不生产电机。公司产品下游客户是电机 商。 ...

银河磁体官网资料显示，该公司于1993年7月成立，2010年10月在深圳证券交易所创业板上市。公司主要研发、生产和销售的产品包括粘结钕铁硼磁体、 热压钕铁硼磁体、钐钴磁体、注塑磁体以及各类磁体组件。 银河磁体拟收购京都龙泰 在外地上市公司频繁出手四川标的的同时，四川企业也加快了并购步伐。 京都龙泰官网资料显示，该公司成立于2011年12月，是行业内永磁铁氧体材料产品研发与制造、磁性材料生产装备研发与制造、生产和销售为一体的国家 高新技术企业、专精特企业，年产高性能永磁铁氧体1.5万吨。 9月15日，上市公司成都银河磁体股份有限公司（简称"银河磁体"）发布公告，拟以发行股份及支付现金的方式购买四川京都龙泰科技有限公司（简称"京 都龙泰"）100%股权，并募集配套资金。 今年以来，已有成都先导、成都新筑路桥机械、四川汉唐云、鱼泡直聘等多家四川企业宣布开展或完成对本省和外地企业的收购。 据银河磁体公告，该公司证券自9月15日开市起停牌，预计在不超过10个交易日的时间内披露本次交易方案。公司与14名交易对方已签署意向性协议，初 步达成购买资产意向。 3月31日，成都先导披露正在筹划以现金方式受让股权的方式，合计取得南 ...