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：2025-017 | | √特定对象调研 □媒体采访 | □分析师会议 □业绩说明会 | | | --- | --- | --- | --- | | 投资者关系 | □新闻发布会 | □路演活动 | | | 活动类别 | □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 ☐ | | | | 姓名 | | 机构名称 | | | Morgan Stanley | | Chris Jiang | | | RBC Global Asset Management | | Cornelius Gilbert | | | Allianz Global Investors | | Catherine Chan | | 参与单位/ 人员名称 | EFM Asset Management | | Payton Zhao | | | Fountainhead Partners | | Alan Gao | | | Dragonstone Capital M ...

11月27日，香港恒生指数开盘涨0.07%，恒生科技指数跌0.10%。 | 代码 | 名称 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | | HSI | 恒生指数 | 25945.54 | 17.46 | 0.07% | | HSTECH | 恒生科技 | 5613.00 c | -5.36 | -0.10% | | HSBIO | 恒生生物科技 | 15831.43c | 32.90 | 0.21% | | HSCEI | 恒生中国企业指数 | 9156.98 c | -5.39 | -0.06% | | HSCI | 恒生综合指数 | 3970.63 c | 3.22 | 0.08% | 黄金股走强，灵宝黄金涨近3%，山东黄金、招金矿业、紫金黄金国际等涨超1%。 | 名称 | 现价 | 涨跌幅 ▼ | | --- | --- | --- | | 灵宝黄金 | 15.800 | 2.86% | | 三品等薪 | 31.060 | 2.58% | | 招金矿业 | 29.240 | 1.81% | | 紫金黄金国际 | 139,800 | 1.60% | ...

新股量化派今日高开超165%，截至发稿，涨超134%。 | 名称 | 现价 | 涨跌幅 ▼ | | --- | --- | --- | | 灵宝黄金 | 15.800 | 2.86% | | 紫金矿业 | 31.060 | 2.58% | | 招金矿业 | 29.240 | 1.81% | | 紫金黄金国际 | 139.800 | 1.60% | | 山东黄金 | 34.460 | 1.53% | | 坛金矿业 | 0.690 | 1.47% | | 赤峰黄金 | 29.680 | 1.09% | | 中国黄金国际 | 140.100 | 0.86% | | 老铺黄金 | 643.000 | 0.31% | 稀土永磁、白酒、芯片等板块涨幅居前；房地产、传媒等板块走弱。 万科企业跌超5%，蔚来跌超2%，百度集团、天齐锂业跌超1%，国泰君安国际涨超1%。 11月27日，香港恒生指数开盘涨0.07%，恒生科技指数跌0.10%。 | 代码 | 名称 | 现价 涨跌 | 涨跌幅 | | --- | --- | --- | --- | | HSI | 恒生指数 | 25945.54 17.46 | 0.07% | | H ...

Core Viewpoint - During the "14th Five-Year Plan" period, Zhenghai Magnetic Materials has achieved significant development in rare earth permanent magnet materials, expanding production capacity to meet high downstream demand while investing in emerging sectors such as humanoid robots and low-altitude economy, alongside a high dividend payout to shareholders [2][3] Group 1: Company Development and Strategy - Zhenghai Magnetic Materials focuses on the core sector of neodymium-iron-boron permanent magnet materials, making breakthroughs in high-end product development, penetration in the new energy vehicle sector, and green production [2] - The company has completed a stepwise expansion of production capacity across three bases in Shandong Yantai, Jiangsu Nantong, and Hunan Jianghua, with a continuous upgrade in product structure and successful high-end transformation [2] - The sales revenue from automotive products is projected to increase from approximately 50% in 2020 to about 70% by 2024, with over 20 million energy-saving and new energy vehicle drive motors equipped with the company's products during the "14th Five-Year Plan" [2] Group 2: Shareholder Returns and Financial Strategy - From 2021 to 2024, Zhenghai Magnetic Materials plans to distribute over 490 million yuan in cash dividends, accounting for more than 40% of the net profit attributable to shareholders during the same period [3] - The company has repurchased 5.39 million shares and is enhancing long-term incentive mechanisms to boost investor confidence [3] - In 2022, Zhenghai Magnetic Materials raised 1.4 billion yuan through convertible bonds to support capacity expansion and technological upgrades, benefiting from national policies aimed at the rare earth industry and manufacturing upgrades [3] Group 3: Future Outlook - Looking ahead, Zhenghai Magnetic Materials aims to deepen its core business, drive innovation, and leverage capital empowerment, while exploring potential in humanoid robots and low-altitude economy sectors [3] - The company seeks to diversify financing channels and explore possibilities for industry chain integration and capital operations to achieve synchronized growth in corporate value and shareholder returns [3]

Core Insights - During the "14th Five-Year Plan" period, Zhenghai Magnetic Materials has achieved significant development in rare earth permanent magnet materials, expanding production capacity to meet high downstream demand while exploring emerging sectors such as humanoid robots and low-altitude economy [1][2] - The company has focused on the core sector of neodymium-iron-boron permanent magnet materials, making breakthroughs in high-end product development, penetration in the new energy vehicle sector, and green production, solidifying its leading position in the industry [1] Production Capacity and Market Strategy - Zhenghai Magnetic Materials has completed a stepwise expansion of production capacity across three bases in Shandong Yantai, Jiangsu Nantong, and Hunan Jianghua, with a continuous upgrade of product structure and successful high-end transformation [1] - The sales revenue from automotive products is projected to increase from approximately 50% in 2020 to about 70% by 2024, with over 20 million energy-saving and new energy vehicle drive motors equipped with the company's products during the "14th Five-Year Plan" [1] Shareholder Returns and Financial Strategy - The company has significantly increased shareholder returns, with cumulative cash dividends exceeding 490 million yuan from 2021 to 2024, accounting for over 40% of the net profit attributable to shareholders during the same period [2] - Zhenghai Magnetic Materials has also repurchased 5.39 million shares and implemented long-term incentive mechanisms to enhance investor confidence [2] Policy Support and Future Outlook - The company has benefited from supportive national policies targeting the rare earth industry, new energy sector, and manufacturing upgrades, which have provided precise support for technology research and development, capacity expansion, and market development [2] - Looking ahead, Zhenghai Magnetic Materials aims to deepen its core business, drive innovation, and explore diversified financing channels while focusing on humanoid robots and low-altitude economy sectors to achieve synchronized growth in corporate value and shareholder returns [2]

Core Viewpoint - Longi Technology's stock rose over 10%, with other companies such as Dadi Bear, Guangsheng Nonferrous, Steel Research Nack, Zhongke Magnetic, Galaxy Magnet, and Zhenghai Magnetic Materials also experiencing gains [1] Company Summary - Longi Technology's significant stock increase indicates strong market performance and investor confidence [1] - The rise in stock prices of related companies suggests a positive trend within the magnetic materials sector [1]

每经AI快讯，稀土永磁板块午后震荡拉升，龙磁科技涨超10%，大地熊、广晟有色、钢研纳克、中科磁 业、银河磁体、正海磁材等跟涨。 （文章来源：每日经济新闻） ...

Group 1 - The core viewpoint of the article highlights that 英思特 (Instech) is engaging with investors through a research meeting scheduled for November 20, 2025, with participation from key company representatives [1] - For the first half of 2025, 英思特's revenue composition shows that rare earth permanent magnet components account for 90.25% of total revenue, while other businesses contribute 9.75% [1]

Core Insights - The company, Jinli Permanent Magnet, reported a significant increase in gross profit margin, reaching 25.31% in Q3 2025, marking an 8.23 percentage point increase from Q2 and the highest level since Q1 2021 [1] - For the first three quarters of 2025, the company achieved a revenue of 5.373 billion yuan, a year-on-year increase of 7.16%, and a net profit attributable to shareholders of 516 million yuan, surging by 161.81% [1] Financial Performance - In Q3 2025, the company generated a revenue of 1.866 billion yuan, reflecting a year-on-year growth of 12.91% and a quarter-on-quarter increase of 6.45% [1] - The net profit for Q3 reached 211 million yuan, with a year-on-year increase of 172.65% and a quarter-on-quarter growth of 45.75% [1] Factors Driving Growth - The substantial rise in gross profit margin is attributed to multiple favorable factors, including the increase in light rare earth prices and the appreciation of inventory, which enhanced profit margins [2] - The company's advanced technology, particularly the grain boundary penetration technology, reduces the use of heavy rare earths by 50%-70%, allowing for higher profit margins compared to smaller competitors [2] - The share of high-end products has risen to 60%, with these products achieving a gross margin of 25%, significantly higher than lower-end products [2] Market Position and Demand - The company holds the leading global market share in key application areas such as electric vehicles, wind power generation, and energy-efficient air conditioning, with over 30% market share in the electric vehicle sector [2] - The production and sales of high-performance magnetic materials are expected to grow by approximately 40% year-on-year in 2024, with capacity utilization consistently above 90% [2] Continuous Improvement - The company's gross profit margin has shown a consistent upward trend, increasing from 11.13% at the end of 2024 to 25.31% in Q3 2025, indicating enhanced profitability [3] - Analysts from institutions like AVIC Securities have given a "buy" rating, citing the combined effects of cost reduction through technology, increased orders, and market expansion as key drivers for continued performance growth [3]

Core Viewpoint - Tianhe Magnetic Materials experienced a slight increase in stock price, with a trading volume of 63.16 million yuan on November 17, 2023, despite a net financing outflow of 1.79 million yuan on the same day [1] Financing and Trading Data - On November 17, 2023, Tianhe Magnetic Materials had a financing buy-in of 2.88 million yuan and a financing repayment of 4.67 million yuan, resulting in a net financing buy-in of -1.79 million yuan [1] - The total financing and securities lending balance for Tianhe Magnetic Materials reached 193 million yuan, accounting for 6.26% of its circulating market value [1] - The company had no shares repaid in securities lending on November 17, 2023, but sold 1,200 shares, amounting to 56,000 yuan at the closing price [1] Company Overview - Tianhe Magnetic Materials, established on May 22, 2008, is located in the Rare Earth Application Industrial Park in Baotou, Inner Mongolia, and is set to be listed on January 3, 2025 [1] - The company specializes in the research, production, and sales of high-performance rare earth permanent magnetic materials, including sintered NdFeB and sintered SmCo [1] - The revenue composition of the company's main business includes: sintered NdFeB (46.99%), sintered NdFeB finished products (36.59%), sintered NdFeB blanks (10.39%), others (5.02%), sintered SmCo (0.51%), sintered SmCo blanks (0.27%), and sintered SmCo finished products (0.23%) [1] Financial Performance - As of September 30, 2023, Tianhe Magnetic Materials reported a total revenue of 1.61 billion yuan for the period from January to September 2023, a year-on-year decrease of 16.86% [2] - The net profit attributable to the parent company for the same period was 120 million yuan, reflecting a year-on-year increase of 12.46% [2] Shareholder Information - As of September 30, 2023, the number of shareholders for Tianhe Magnetic Materials was 39,700, a decrease of 27.77% from the previous period [2] - The average circulating shares per person increased by 41.29% to 1,662 shares [2] - The top circulating shareholders include: - Harvest CSI Rare Earth Industry ETF (516150) as the largest shareholder with 850,500 shares, an increase of 446,800 shares from the previous period [3] - Southern CSI 1000 ETF (512100) as the second-largest shareholder with 723,300 shares, a decrease of 11,900 shares [3] - Other notable shareholders include Huaxia CSI 1000 ETF (159845) and Rare Earth ETF (516780), with respective increases in holdings [3]