Group 1 - The company raised a total of 1,045 million RMB through a private placement of A-shares in 2022, which is intended for the "Baotou Yunsheng Technology Development Co., Ltd. annual production of 15,000 tons of high-performance rare earth permanent magnet materials intelligent manufacturing project" [1] - As of April 29, 2024, the company’s board approved a delay in the expected operational status of the fundraising investment project, with 5,000 tons of production capacity set to be operational by June 2025 [1] - The initial production facility for the 5,000 tons capacity has completed equipment installation, debugging, and trial production, and is now officially in operation [1] Group 2 - The partial commissioning of the project is expected to significantly enhance the company's production capacity, converting technological and quality advantages into product advantages, thereby increasing market share and profitability [1] - The company plans to use up to 300 million RMB of idle fundraising temporarily to supplement working capital for business expansion and daily operations, with a usage period of 12 months from the board's approval [4] - On June 27, 2025, the company repaid 210 million RMB of the idle funds back to the special fundraising account ahead of schedule [5]

Core Viewpoint - The collaboration between research institutions and enterprises in the rare earth permanent magnet materials sector is being strengthened to accelerate the transformation of scientific research achievements into practical applications [2][4][8]. Group 1: Collaboration and Talent Development - Wang Yu, an expert in rare earth permanent magnet materials, is working with Baotou Yinst Technology Co., Ltd. to address challenges in raw materials and coating technologies, aiming to integrate theoretical research with production practices [2]. - The Baotou High-tech Zone has appointed seven PhD candidates as "industry professors" and "technology vice presidents" to enhance talent integration and innovation [4]. - The establishment of a postdoctoral research station in collaboration with Xi'an Jiaotong University has facilitated the development of rare earth permanent magnet inverters, demonstrating effective alignment between research projects and production capabilities [4][5]. Group 2: Talent Attraction and Retention - The Baotou High-tech Zone has introduced various initiatives to attract and retain talent, including a yearly allocation of 10 million yuan for talent innovation and entrepreneurship, and subsidies for postdoctoral researchers [6]. - The region has successfully gathered 377 high-level talents and 89 experts, with a focus on enhancing the quality and quantity of talent in the rare earth sector [5][6]. - The "industry professor" program is designed to foster deep integration between academia and industry, leveraging the strengths of both sectors to achieve greater innovation [7][8]. Group 3: Mechanisms for Innovation - The Baotou High-tech Zone is promoting a "mutual hiring and sharing" talent mechanism to facilitate the exchange of expertise between research institutions and leading enterprises [8]. - The establishment of joint laboratories and industry technology innovation alliances aims to bridge the gap in technology transfer and enhance collaborative research efforts [8].

Core Viewpoint - Chinese rare earth magnets have surpassed Japanese companies in global market share, now accounting for over 80%, compared to Japan's over 10% [1][2]. Group 1: Market Dynamics - Chinese company Jiangxi Jinli Permanent Magnet Technology has resumed exports of high-performance magnets to regions including the US, Europe, and Southeast Asia after obtaining export licenses [1][2]. - The global supply chain faced disruptions when China announced restrictions on rare earth exports, leading to production halts in the automotive sector [1][2]. - The partnership between Japanese companies and Chinese manufacturers has significantly enhanced China's technological capabilities in magnet production [2][3]. Group 2: Government Policies and Industry Growth - The Chinese government has emphasized the importance of technological innovation and industry chain extension, as highlighted by President Xi Jinping's visit to Jiangxi Jinli Permanent Magnet Technology [3]. - The "Made in China 2025" policy aims to support key industries, including electric vehicles and core components like magnets [3]. - Jiangxi Jinli Permanent Magnet Technology plans to invest 1.05 billion RMB to expand production capacity by 1.6 times by 2027 [3]. Group 3: Competitive Landscape - Japanese magnet manufacturers are facing pressure from domestic clients to reduce prices, limiting their investment capabilities [3]. - The recent recovery of Chinese magnet exports has not fully met the high-tech industry's demand, indicating ongoing supply challenges [4]. - Companies that previously relied on Japanese magnets are now considering sourcing from Chinese manufacturers to stabilize their supply chains [4].

Market Overview - A-shares experienced a strong opening in June, with all three major indices rising and over 3,300 stocks in the market showing gains [1] - The Shanghai Composite Index rose by 0.43%, the Shenzhen Component increased by 0.16%, and the ChiNext Index gained 0.48% [1] - The total market turnover reached 1.16 trillion yuan [1] Key Sectors - The sectors that performed well included the China-South Korea Free Trade Zone, new consumption, football concepts, precious metals, and pharmaceuticals [1] - The rare earth permanent magnet sector saw significant gains, with Guangsheng Nonferrous Metals hitting the daily limit and reaching a new high [12] Notable Stocks - Junyao Health, known as the "first stock of room temperature lactic acid bacteria," achieved a remarkable performance with six consecutive trading days of gains, including a daily limit increase [2][5] - The stock's trading volume exceeded 800 million yuan [2] - Innovative drug stocks remained active, with Shutaishen hitting the daily limit and a cumulative increase of 188.04% since May 20 [7][9] Company Performance - Junyao Health reported a production volume of approximately 85.99 million liters for probiotic products in 2024, a year-on-year increase of 3.54%, while sales volume decreased by 1.41% to about 83.99 million liters [5] - The sales revenue for probiotic products was approximately 595 million yuan, down 2.71% year-on-year [5] Innovative Drug Sector - The innovative drug sector is gaining attention, with the approval of 11 new innovative drugs by the National Medical Products Administration [10] - The sector is expected to benefit from ongoing policy support and international licensing agreements, enhancing growth prospects for related companies [10] - Shutaishen's subsidiary is under scrutiny for its drug application, which may impact future evaluations [9] Conclusion - The overall market sentiment is positive, with a focus on growth sectors such as technology and consumer-driven industries, alongside stable sectors like banking [15]

Group 1: Market Potential and Strategic Focus - The company is focusing on research projects in high-growth sectors such as consumer electronics, new energy vehicles, and industrial motors, which are supported by strong market demand and clear policy backing [2][3] - The consumer electronics sector is revitalized by AI technology innovations, while the new energy vehicle market benefits from global energy transitions and technological advancements [2][3] Group 2: Material Development and Application - Samarium Iron Nitride (SmFeN) is identified as a fourth-generation rare earth permanent magnet material, with applications in various fields including new energy vehicles, robotics, and aerospace [3] - Despite its potential, the production of SmFeN faces technical barriers and is still in the early stages, with market demand not fully activated yet [3] Group 3: Profitability and Competitive Advantage - The company's strong profitability is attributed to its technological leadership and operational efficiency, allowing it to meet high-performance demands at lower costs [3] - The company benefits from its location in Baotou, Inner Mongolia, which provides advantages in raw material sourcing, electricity costs, and labor costs [3] Group 4: Adaptation to AI Technology - The rapid development of AI technology is increasing the iteration cycle of terminal products, necessitating higher responsiveness in research and development [4][5] - The company leverages its magnetic circuit design expertise and close collaboration with clients to continuously optimize product performance, ensuring compatibility with evolving AI technology [4][5]

Group 1 - The construction of the Huahong project in Baotou, which aims to produce 10,000 tons of high-performance rare earth permanent magnet materials annually, is progressing rapidly, with plans for trial production in October [2] - The project is part of Baotou's "two rare earth bases" initiative, emphasizing high-quality development through significant project investments and effective implementation of key projects [2] - The Hunan Yingzhuo En Precision Manufacturing Co., Ltd. is set to begin production of 100,000 multi-category permanent magnet motors, expected to generate an annual output value of 300 million yuan [4] Group 2 - The establishment of several "first batch" and "first-class" projects in the rare earth sector, including companies like Ningbo Recovery and Hunan Zhongzi Rare Earth Permanent Magnet Electromechanical Technology Co., Ltd., is enhancing the momentum for Baotou's rare earth base development [6] - The Baotou Rare Earth High-tech Zone has implemented a comprehensive project management mechanism to ensure the successful execution of projects, including regular progress reports and problem-solving coordination [6] - In the first quarter, the rare earth industry's added value in the Baotou High-tech Zone increased by 22.2% year-on-year, contributing over 41% to the growth of industrial enterprises above designated size [7]

Summary of Key Points from the Conference Call Industry Overview - The humanoid robot industry is currently in a stage of hardware definition and technological iteration, with significant advancements in core components expected to positively impact related stocks [2][22]. Core Components and Technology - Magnetic components, as a critical part of rare earth permanent magnet materials, are essential for enhancing the performance of servo motors in humanoid robots, particularly in terms of dynamic response, impact resistance, and disturbance resistance [1][3]. - The design of motor structures significantly influences the amount of rare earth permanent magnet materials used and the production processes, necessitating strong design capabilities from companies to optimize motor structures and enhance performance [1][11]. Key Players and Developments - **Jinli Permanent Magnet**: Recognized as a leading enterprise in the rare earth permanent magnet industry, with rapid sales growth and plans for significant capacity expansion by 2025, including a project for 30,000 tons of high-end magnetic materials and a production line for humanoid robot components in Mexico [14][15]. - **Zhenghai Magnetic Materials**: Has a strong presence in the new energy vehicle sector and is actively developing partnerships in the humanoid robot field, contributing to incremental growth [4][17]. - **Yunsheng**: A traditional magnetic materials company with stable sales growth in aluminum, iron, and copper, and has made rapid progress in humanoid robots, establishing connections with potential clients [18]. - **Inlohua**: Offers integrated power system solutions, leveraging its early mover advantage to better meet the needs of humanoid robots [19][20]. Motor Types and Applications - The frameless torque motor and hollow cup motor are highlighted for their compact structure and lightweight characteristics, making them suitable for specific functions in humanoid robots [1][5]. - Different types of motors are used based on the radial ratio of joints, reflecting the varying functional demands of different robot parts [7]. Future Trends and Requirements - The humanoid robot industry demands specialized, non-standardized self-developed motors tailored to specific applications, moving away from traditional standardized products [7][13]. - The development of magnetic materials, particularly magnetic components, is crucial for the advancement of the entire industry chain, influencing the optimization of key components like servo drives and motors [8][22]. Investment Opportunities - Companies such as Jinli Permanent Magnet, Zhenghai Magnetic Materials, Yunsheng, Inlohua, and others are recommended for investment due to their potential benefits from technological breakthroughs in humanoid robots [23][24]. Additional Insights - The integration of various transmission components with motors significantly impacts module performance, necessitating a focus on producing suitable rare earth permanent magnet materials and magnetic components to maximize overall module performance [6][22]. - The importance of magnetic component manufacturers in the humanoid robot industry is emphasized, as they play a critical role in meeting specific functional requirements and driving technological advancements [22].

证券代码：300748 证券简称：金力永磁 江西金力永磁科技股份有限公司 投资者关系活动记录表 编号：2025-008 | □特定对象调研 | □分析师会议 | | --- | --- | | 投资者关系 | □媒体采访 √业绩说明会 | | 活动类别 | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 （请文字说明其他活动内容） | | 形式 | ☐现场 网上 ☐电话会议 | | 参与单位/ 人员名称 | 参会人员 99 人，详见附件 | | 时间 | 2025 年 4 月 28 日 | | 地点 | 网上业绩说明会 | | 上市公司接 | 谢辉 首席财务官 | | 待人员姓名 | 赖训珑 董事会秘书 | | | 刘煦阳 投资者关系总监 | | | 年第一季度经营情况？ 1、请简要介绍公司 2025 | | | 答：2025 年第一季度，公司管理层积极开拓市场并同步扩大产能，保持稳健经 营。公司持续聚焦新能源和节能环保领域，专注于新能源汽车及汽车零部件、节能变 | | | 频空调、风力发电、机器人及工业伺服电机、3C、低空飞行器等核心应用领域, 并积 | | 投资者关系 | 极配合国 ...

Core Viewpoint - The rare earth high-tech zone is actively promoting the development of the rare earth industry chain, focusing on building two rare earth bases and aiming to enter the top 50 national high-tech zones [5][9]. Group 1: Project Developments - The Wolong permanent magnet motor industrial park project in Baotou has officially commenced production after 10 months of construction, with a production area of 72,000 square meters [3]. - Zhejiang Shangchi Electric's project for an annual output of 50,000 permanent magnet motors is underway, with production expected to start in April [6]. - The Jinmeng Saimo permanent magnet component project is progressing rapidly, with a planned annual output of 2,500 tons of high-performance neodymium-iron-boron permanent magnet components, expected to be operational by July [6]. Group 2: Industry Growth and Innovation - The Baotou base of Jinli Permanent Magnet has seen a 50% year-on-year increase in production in January and February, reaching a monthly output of 1,600 tons, with plans to expand total capacity to 40,000 tons [8]. - The North Jiaxuan Electric Technology Co., Ltd. is focusing on producing permanent magnet synchronous motors and intelligent drive systems, achieving over 20% energy savings [8]. - The rare earth high-tech zone has introduced new policies to enhance technological innovation and industry integration, including funding support ranging from 50,000 to 10 million yuan for various innovation projects [9]. Group 3: Strategic Goals - The rare earth high-tech zone aims to strengthen its position in the rare earth industry by attracting leading domestic magnetic material companies and enhancing the entire industry chain [6][9]. - The zone's strategic focus includes the implementation of a "technology breakthrough" project to address systemic barriers to innovation and promote the transformation of scientific achievements [9].

包头天和磁材科技股份有限公司（股票简称：天和磁材；股票代码：603072）于2025年1月3日登陆上交所主 板，公司本次发行价格为12.30元/股，公开发行股票数量为6607万股。值得一提的是，天和磁材也成为2025年上 交所上市的首只新股。 基于深厚的研发功底与丰富的产业化经验，天和磁材已构筑起一个包含十五大系列（烧结钕铁硼八大系列与烧 结钐钴七大系列），涵盖逾百种牌号的产品矩阵。通过搭建起详尽的配方与产品数据库，公司能够敏捷地应对 下游多个应用领域及装备组件的多样化配套需求，实现快速响应与精准服务。 目前，天和磁材已成功通过多家行业龙头企业的供应商审核，建立了长期稳定的合作关系，形成了高端客户群 体，并荣获多项嘉奖，包括"关键供应商"、"价值流最佳实践奖"等，拥有高认可度和美誉度。 与国家战略同频共振，坚持技术创新路线 在当今全球经济一体化和科技日新月异的时代背景下，新材料产业作为高新技术的基础和先导，正日益成为各 国竞相发展的战略高地。近年来，我国基于"五位一体"总体布局和"四个全面"战略布局，坚定不移地秉持创新、 协调、绿色等发展理念，积极推进创新驱动型战略和可持续发展战略，为新材料产业的蓬勃发展注入 ...