本网讯（记者 陈婉婉）记者近日从安徽大学获悉，该校王守国教授团队面向国家战略需求，在稀土永 磁材料领域取得新进展。 稀土永磁材料作为稀土资源最主要的功能应用载体，已成为支撑新能源汽车、高端装备制造、电子信 息、节能环保等战略性新兴产业发展不可或缺的核心材料。当前我国稀土资源领域面临高丰度元素（如 镧、铈）大量积压与战略重稀土（如镝、铽）利用效率低的双重结构性挑战，推动稀土资源实现均衡 化、高附加值利用，已成为贯彻国家新材料发展战略、保障产业链、供应链自主可控的重要任务。 （来源：安徽新闻网） 转自：安徽新闻网 近期，王守国带领的磁性材料团队联合北京工业大学及稀土永磁材料全国重点实验室，围绕高丰度稀土 磁体重稀土晶界扩散这一关键技术展开深入研究，取得了重要理论进展。该研究首次揭示了影响重稀土 扩散效率的两大关键微观机制，为理解并设计高丰度稀土磁体的组织结构、提升战略重稀土的利用效率 提供了新的科学视角和材料设计思路。相关研究成果已发表在材料学科知名期刊《先进功能材料》杂志 上。 据悉，安徽大学磁性材料研究团队已持续多年围绕稀土资源的高效利用开展系统性攻关，坚持"理论指 导设计、需求牵引研发"的路径，着力破解稀土 ...

记者12月29日从安徽大学获悉，该校材料科学与工程学院王守国教授团队联合北京工业大学及稀土永磁 材料全国重点实验室，围绕高丰度稀土磁体重稀土晶界扩散技术展开深入研究，首次揭示影响重稀土扩 散效率的两大关键微观机制。相关研究成果日前发表于《先进功能材料》。 王守国表示，该发现为理解并设计高丰度稀土磁体组织、提升战略重稀土利用效率提供了新科学视角和 材料设计思路。（记者洪敬谱） 针对这一挑战，研究团队提出创新科学假设。团队认为，高丰度稀土磁体内部化学成分异质性及复杂晶 间相结构，可能是主导并制约重稀土原子沿晶界扩散路径、速率及分布形态的关键内在机制。该构想将 工艺难题提升至材料科学层面，为设计磁体微观结构、调控扩散过程提供了新理论方向。 基于该设想，研究团队通过微观结构设计，结合先进磁性测试与结构分析表征手段，首次明确揭示主相 晶粒化学异质性诱导的重稀土选择性扩散行为，以及晶间区域ZrB2和REFe2相对重稀土扩散的阻碍效 应，是导致重稀土扩散效率低下的根本原因。 稀土永磁材料是新能源汽车、高端装备制造、电子信息、节能环保等战略性新兴产业不可或缺的核心材 料。推动稀土资源均衡化、高附加值利用，已成为落实国家新材料 ...

Group 1 - Ningbo Yunsheng's stock price decreased by 1.08% to 13.76 CNY per share, with a total market capitalization of 15.123 billion CNY and a trading volume of 4.8415 million CNY [1] - The company specializes in the research, manufacturing, and sales of neodymium-iron-boron permanent magnetic materials, with 88.37% of its revenue coming from this core business [1] - The company is recognized as a leading global supplier of rare earth permanent magnet material application solutions [1] Group 2 - Qianhai Kaiyuan Fund's Q3 report shows that its fund increased its holdings in Ningbo Yunsheng by 5.6445 million shares, totaling 11.8807 million shares, representing 1.12% of the circulating shares [2] - The fund has experienced a year-to-date return of 68.07%, ranking 473 out of 8087 in its category [2] - The fund manager, Wu Guoqing, has a tenure of over 10 years, with the fund's best return during this period being 387.39% [3] Group 3 - Ningbo Yunsheng is the sixth largest holding in Qianhai Kaiyuan's fund, accounting for 7.41% of the fund's net value [4] - The estimated floating loss for the fund from its investment in Ningbo Yunsheng is approximately 1.7821 million CNY [4]

Group 1 - The core viewpoint highlights the continuous consumption vitality in the Dasi Paolou business district of Luyang District, with 51 international first-line brands and regional flagship stores opening, capturing 90% of the high-end luxury market share in the province [1][3] - Luyang District's GDP is projected to reach 140 billion yuan by 2025, marking a 26.8% increase from the end of the 13th Five-Year Plan, and crossing three hundred billion thresholds [1] - The service industry is expected to account for over 80% of GDP during the 14th Five-Year Plan, with significant achievements in the new economy and manufacturing sectors [1][3] Group 2 - The district aims to enhance its role as a core area for international consumption, integrating urban innovation and cultural heritage, while promoting economic quality and reasonable growth [2] - Luyang District is focusing on deepening the integration of scientific innovation and industry, supporting leading enterprises in technology upgrades and R&D investments [4] - The district plans to increase public welfare spending, with over 170 billion yuan allocated for public welfare this year, representing 90% of public financial expenditure [4][5] Group 3 - Urban management improvements include the renovation of 128 back streets and alleys, and the construction of new parking spaces, enhancing urban infrastructure [5] - Environmental quality has improved significantly, with a notable decrease in PM2.5 and PM10 levels, and a 100% excellent water quality rate in local reservoirs [5] - Employment has increased by over 39,000 this year, with new educational facilities providing over 3,600 additional school places [5]

Core Viewpoint - The company, Instech (301622.SZ), has achieved steady growth in the rare earth permanent magnet materials application sector, leveraging its strong foundation in consumer electronics and proactive positioning in emerging markets [1][2]. Group 1: Financial Performance - In the first three quarters of 2025, the company reported revenue of 1.027 billion yuan, representing a year-on-year increase of 20.94% [2]. - The net profit for the same period was 123 million yuan, with a gross margin maintained at 25.62%, which is above the industry average, indicating strong profitability [2]. Group 2: Research and Development - The company focuses on the research and production of rare earth permanent magnet materials, with core products including magnetic components (50.02% of revenue) and single magnetic application devices (40.23% of revenue) [2]. - Over the past three years, the compound annual growth rate of R&D expenses has exceeded 16%, with R&D investment reaching 52.9867 million yuan in the first three quarters of 2025 [2]. - The company holds over 300 domestic and international patents, with more than 95% of its products and key technologies supported by patents [2]. Group 3: Client Relationships and Market Expansion - The company has established deep ties with major clients such as Apple, Microsoft, Huawei, and Xiaomi, enhancing its stable revenue stream and rapid response capabilities to high-end manufacturing demands [3]. - The demand for small, high-performance magnetic devices in consumer electronics is increasing, driven by innovations like foldable smartphones and smart wearable devices [3]. - In the automotive sector, the company's products are already applied in safety control systems and sensors, with ongoing collaborations with domestic and international car manufacturers [3]. Group 4: Industry Trends and Future Outlook - The global demand for rare earth permanent magnet materials is expected to grow rigidly due to the "dual carbon" goals, with high-performance neodymium-iron-boron demand projected to exceed 200,000 tons by 2025, reflecting a compound annual growth rate of over 15% [4]. - The company is investing 650 million yuan in an integrated application project for rare earth permanent magnet materials, aiming to produce high-end drive motor magnetic materials and enhance its industry chain [4]. - The company plans to deepen its cooperation in the consumer electronics sector while also expanding into emerging markets like electric vehicles and robotics, leveraging its technological innovation and cost advantages [4].

Core Viewpoint - The event organized by China Merchants Securities aimed to enhance investor understanding of the capital market and identify long-term investment opportunities, showcasing Ningbo Yunsheng's achievements and technological innovations in the rare earth permanent magnet materials sector [1][7]. Company Overview - Ningbo Yunsheng has been a leader in the rare earth permanent magnet industry for 30 years, establishing five differentiated advantages: stable industrial layout, technological innovation, wide product applications, excellent manufacturing capabilities, and distinct corporate culture [2]. - The company is the first private rare earth permanent magnet materials company listed in China and has played a significant role in formulating national standards for magnetic materials and permanent motors [2]. Production Process - Investors witnessed the entire production process at Ningbo Yunsheng's factory, from raw material processing to finished product delivery, highlighting advanced production techniques and strict quality control [3]. - The company has achieved significant technological breakthroughs in NdFeB permanent magnet materials, enhancing product magnetic performance and high-temperature resistance, particularly with its innovative spliced magnetic steel components [3]. Industry Interaction - Investors engaged in discussions with the management regarding the company's overseas market expansion strategies, emerging field layouts, and future development plans, gaining clearer insights into the company's operational strategies [4]. - Ningbo Yunsheng is actively pursuing international strategies, establishing a comprehensive global supply chain, with production bases in Ningbo and Baotou, and sales subsidiaries in Germany and the USA to expand its international market presence [4]. - The company has a broad overseas business layout, with clients across multiple countries, effectively managing challenges posed by geopolitical and trade policy complexities through diversified market strategies [4]. Future Developments - In the humanoid robot sector, Ningbo Yunsheng began developing relevant magnetic materials in 2023, collaborating closely with downstream customers to optimize product performance and quality [5]. - The company is also monitoring developments in the low-altitude economy, anticipating sustained demand for high-performance magnetic materials as applications for drones and general aviation expand [5]. Conclusion - The event facilitated a deep understanding of Ningbo Yunsheng's operational status and development strategies, emphasizing the company's commitment to sustainable development and the transition of the magnetic materials industry towards high-end applications and green transformation [7].

Investment Rating - The report does not explicitly provide an investment rating for the rare earth permanent magnet industry Core Insights - The strategic position of rare earth resources continues to rise, becoming a focal point of resource competition and industrial gamesmanship among major powers. Rare earth elements exhibit exceptional magnetic, optical, and electrical properties, making them indispensable in high-tech fields such as new energy, new materials, energy conservation, aerospace, electronic information, and national defense [1][5] - The Oxford Energy Institute predicts that demand for rare earths will grow significantly before 2030, primarily for use in permanent components in electric vehicles and wind turbines [1][5] - China holds the largest share of global rare earth reserves at 44 million tons (approximately 48%), followed by Brazil (21 million tons, 23%) and India (6.9 million tons, 7.6%). The U.S. has only 1.9 million tons, which is 4.3% of China's reserves [1][8] - In terms of production, China is expected to produce 270,000 tons of rare earths in 2024, accounting for 68.5% of the global output of 390,000 tons [1][8] Summary by Sections Rare Earth Elements Introduction - Rare earth elements include 17 metals, categorized into light and heavy rare earths based on their physical and chemical properties. They are primarily found in the form of rare earth oxides [4] Rare Earth Permanent Products and Industry Chain - Rare earth permanent materials are the largest deep-processing sector for rare earths, consuming over 40% of total rare earth production. They are classified into neodymium-iron-boron (NdFeB) and samarium-cobalt (SmCo) magnets, with NdFeB being widely used in electric vehicles, wind turbines, consumer electronics, and industrial automation due to its superior magnetic performance and lower cost [16][29] - The production of NdFeB relies on raw materials such as praseodymium-neodymium oxide, dysprosium oxide, terbium oxide, and neodymium metal. The separation of praseodymium and neodymium is challenging due to their similar chemical properties [24][28] Industry Landscape - The report indicates that the industry has experienced a decline in revenue for three consecutive years, with projected revenue of 36.85 billion yuan in 2024, down nearly 19% from 45.3 billion yuan in 2022. Gross profit and gross margin have also significantly decreased [1] - The competition among permanent magnet companies is characterized by "large concentration, structural differentiation, and a shift towards high-end upgrades." The focus has shifted from pure capacity to technology, quality, and customer chain integration [1]

Core Viewpoint - Ningbo Yunsheng is planning to issue H-shares in Hong Kong to advance its international strategy, enhance brand image, and build a diversified capital platform [1][3]. Group 1: Financial Performance - For the first three quarters of 2025, Ningbo Yunsheng reported a net profit attributable to shareholders of 276 million yuan, a year-on-year increase of 299.04%, and a net profit excluding non-recurring items of 251 million yuan, up 302.29% [2][3]. - The company's total revenue for the same period reached 3.91 billion yuan, reflecting a year-on-year growth of 7.03% [2]. - As of the end of the first half of 2025, total assets increased to 10.302 billion yuan, a rise of 14.17% compared to the end of 2024, while equity attributable to shareholders grew to 6.121 billion yuan, up 3.84% [2]. Group 2: Business Operations - Ningbo Yunsheng specializes in the research, manufacturing, and sales of rare earth permanent magnet materials since 1995, with major production bases in Ningbo and Baotou [2]. - The company has an annual production capacity of 26,000 tons of high-performance neodymium-iron-boron magnets [2]. - The company has established strong partnerships in various sectors, including new energy vehicles and consumer electronics, supplying major brands and manufacturers [5][6]. Group 3: Research and Development - In the first three quarters of 2025, Ningbo Yunsheng's R&D expenses amounted to 214 million yuan, representing a year-on-year increase of 61.29%, with an R&D expense ratio of 5.47%, up 1.84 percentage points from the same period in 2024 [4][5]. - The company has developed a core technology system with proprietary breakthroughs in various areas, including rare earth product formulation and automation technology [5]. Group 4: Investment Activities - On November 24, 2025, Ningbo Yunsheng announced plans to invest 20 million yuan in the Lingzhi New Venture Capital Partnership, focusing on innovative companies in the embodied intelligence industry [1][6]. - The investment aims to leverage professional investment resources and experience to identify quality targets and reduce investment risks, aligning with the company's strategic development needs [7].

Group 1 - The core point of the article is that Ningbo Yunsheng (600366.SH) plans to issue H-shares and list on the Hong Kong Stock Exchange to advance its international strategy and enhance its brand image [1] - The company has authorized its management to initiate preliminary preparations for the H-share listing [1] - Specific details regarding the H-share listing are yet to be determined, and the company will discuss the progress with relevant intermediaries [1] Group 2 - Ningbo Yunsheng has been engaged in the research, manufacturing, and sales of rare earth permanent magnet materials since 1995 and is recognized as a national high-tech enterprise [1] - The company has production bases in Ningbo and Baotou, with an annual production capacity of 26,000 tons of raw materials, making it one of the largest manufacturers of rare earth permanent magnet materials globally [1] - As of November 25, 2025, the company's total market capitalization is approximately 14.54 billion RMB [1]

Core Viewpoint - Shengan Securities is focusing on enhancing its service capabilities for the real economy through five major financial initiatives, with significant developments in technology finance and green finance sectors [1][2] Group 1: Technology Finance - In January, Shengan Securities assisted Tianhe Magnetic Materials in its initial public offering, raising over 800 million yuan, marking it as the first stock listed on the Shanghai Stock Exchange main board in 2025 [1] - Tianhe Magnetic Materials is a leading domestic producer of rare earth permanent magnet materials, with applications in strategic emerging industries such as new energy vehicles, wind power generation, and consumer electronics [1] - In July, the company was approved to establish a private equity fund subsidiary, focusing on national strategic emerging industries and addressing critical challenges in the sector, with over 50 quality projects aligned with national strategic development directions [1] Group 2: Green Finance - Shengan Securities underwrote green bonds worth 1.981 billion yuan in 2024, ranking 16th in the industry, and low-carbon transition bonds worth 153 million yuan, ranking 17th, contributing financial momentum to the low-carbon transition of the economy and society [1] Group 3: Trading and Financial Services - The company is developing a trading-oriented brokerage model with its self-developed "1+N" fixed income comprehensive operation platform, set to incorporate AI tools like Deep Seek by 2025, leveraging over 10 trillion yuan in annual trading data [2] - The platform will encompass five major areas: sales trading, external empowerment, data middle platform, market-making strategy platform, and internal control and risk management [2] - Shengan Securities aims to build an inclusive financial system based on financial services, investor education, and public welfare practices, reinforcing its commitment to serving the public [2] Group 4: Strategic Planning - In 2024, the board of Shengan Securities completed a three-year action plan (2024-2026), emphasizing adherence to national development strategies and focusing on technology innovation, advanced manufacturing, green development, and support for small and micro enterprises [2] - The company aims to enhance its asset management capabilities and investment advisory services while integrating the "big wealth" business chain and providing quality financial products in themes such as technology, green finance, and elderly care [2] - Shengan Securities will continue to prioritize financial services for the real economy, striving to contribute to the construction of a financially strong nation [2]