长江商报消息 金力永磁（A+H上市，股票代码：300748.SZ，06680.HK）以"快节奏"回购提振投资者信 心。 9月2日晚间，金力永磁公告，公司完成股份回购计划，在8月25日至9月2日累计回购股份366.55万股， 成交总金额为1.42亿元。其中，在9月1日、9月2日这两天累计回购交易约1.4亿元。 回购跑出加速度的同时，金力永磁还大举分红回报股东。2025年中期，公司拟派发现金红利2.47亿元， 占归母净利润的81%。 从基本面上看，金力永磁积极开拓市场，通过技术创新等措施实现稳健发展。2025年上半年，公司实现 归母净利润同比增长154.81%至3.05亿元。 年内股价涨超110% 除了股票回购，金力永磁在分红方面展现出稳健且持续的态势。公司2018年上市至今，每年均进行现金 分红，已累计现金分红超过12亿元，累计现金分红金额占同期累计归母净利润的比例超过47%。 为持续回馈广大投资者，金力永磁拟进行2025年半年度权益分配，向全体股东每10 股派发现金红利1.80 元（含税），预计分红金额为2.47亿元，占2025年上半年归母净利润的81%。 三年半研发费11.8亿 金力永磁是集研发、生产和销售 ...

江西金力永磁科技股份有限公司 证券代码：300748 证券简称：金力永磁 答：2024 年度，公司全年稀土永磁材料实际产能已达 3.2 万吨，力争到 2027 年 建成 6 万吨稀土永磁材料产能及先进的具身机器人电机转子生产线。 投资者关系活动记录表 编号：2025-013 | | √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 | | | | （请文字说明其他活动内容） □其他 | | | 形式 | 网上 现场 ☐ | 电话会议 ☐ | | 参与单位/ 人员名称 | 姓名 | 机构名称 | | | 张弋清 | 民生证券 | | | 景微 | 浙商基金 | | | 王琦欢 | 巴富罗投资 | | | 倪泽伦 | 乔格里投资 | | | 李伟峰 | 鹏扬基金 | | | 刘家俊 | 长江资管 | | | 黄超 | 创金合信基金 | | | 刘宸垚 | 嘉实基金 | | | 张思晴 | 紫金上海投资 | | 时间 | 年 月 日 2025 9 3 | | | ...

Core Viewpoint - The rapid development of humanoid robots is creating significant market opportunities for rare earth permanent magnet materials, particularly neodymium-iron-boron magnets, which are essential for the core components of humanoid robots [1]. Group 1: Industry Overview - The humanoid robot industry is accelerating its application, with rare earth permanent magnet materials playing a crucial role in the performance of these robots [1]. - Neodymium-iron-boron permanent magnets are widely used in servo motors and other core components of humanoid robots, indicating a growing demand in this sector [1]. Group 2: Key Companies - **Jiangxi Jinli Permanent Magnet Technology Co., Ltd. (Jinli Permanent Magnet)**: Established in 2008, it is a leading global supplier of high-performance neodymium-iron-boron permanent magnet materials, with applications in various fields including new energy vehicles and humanoid robots. The company has become a key supplier for Tesla in the humanoid robot sector [3]. - **Baotou Yinst Magnetic New Materials Co., Ltd. (Yinst)**: Founded in 2011, Yinst focuses on the development and production of rare earth permanent magnet application devices. The company has established a strong technical barrier and is actively supplying components for humanoid robot motors [5]. - **Beijing Zhongke Sanhuan High Technology Co., Ltd. (Zhongke Sanhuan)**: Established in 1999, it is one of the largest manufacturers of neodymium-iron-boron magnets globally. The company has a strong focus on technological innovation and has been supplying products to the robotics sector for many years [6][7]. - **Ningbo Yunsheng Co., Ltd. (Yunsheng)**: Founded in 1994, it is a major manufacturer of rare earth permanent magnet materials with a production capacity of 21,000 tons per year. The company is expanding into the humanoid robot market and has established partnerships with leading firms in this field [9]. - **Ningbo Jintian Copper (Group) Co., Ltd. (Jintian)**: Established in 1986, Jintian is a leading supplier of copper and copper alloy materials, actively expanding its rare earth permanent magnet materials business to support the development of humanoid robots [11][12].

Core Viewpoint - Jiangxi Jinli Permanent Magnet Technology Co., Ltd. has announced an adjustment to the maximum repurchase price of its A-shares from RMB 31.06 per share to RMB 42.66 per share, reflecting a 37.35% increase, effective from August 27, 2025 [2][3][4]. Summary by Relevant Sections Share Repurchase Plan - The company will repurchase A-shares at a new maximum price of RMB 42.66 per share, up from the previous limit of RMB 31.06 per share [2][3]. - The adjustment in the repurchase price does not change other aspects of the repurchase plan [2]. - The repurchase plan does not require approval from the shareholders' meeting [2]. Market Performance - As of August 26, 2025, the company's stock price was RMB 37.40 per share, with a total market capitalization of RMB 513 billion [6]. - The stock price has increased from RMB 20.34 per share on April 28 to RMB 37.40 per share by August 26, representing an increase of 83.91% [10]. Financial Performance - In the first half of the year, the company achieved a revenue of RMB 3.507 billion, a year-on-year increase of 4.33% [13]. - The net profit attributable to shareholders was RMB 304.95 million, reflecting a significant year-on-year growth of 154.81% [11][14]. - The company plans to distribute a cash dividend of RMB 1.80 per 10 shares, totaling approximately RMB 2.47 billion, which is 81% of the net profit for the period [14]. Business Segments - The company reported sales of RMB 1.675 billion in the new energy vehicle and auto parts sector, with a sales volume increase of 28.14% year-on-year [14]. - The variable frequency air conditioning sector generated RMB 1.050 billion in sales, with a 19.85% increase in sales volume [14]. - The company is focusing on the robotics motor rotor business, indicating potential for future growth in this area [14]. Industry Outlook - Analysts suggest that with the normalization of rare earth export approval processes, demand for rare earth magnetic materials is expected to increase, benefiting the company [15].

Core Viewpoint - The company has demonstrated robust growth in the first half of 2025, with significant increases in revenue and net profit, despite facing external challenges and industry competition [2][4]. Financial Performance - The company achieved operating revenue of 3.507 billion yuan, a year-on-year increase of 4.33%, with main business revenue reaching 3.226 billion yuan, up 11.08% [2]. - The net profit attributable to shareholders was 305 million yuan, reflecting a substantial year-on-year growth of 154.81%, while the net profit after deducting non-recurring gains and losses surged by 588.18% to 234 million yuan [2]. Export and Sales - The company reported overseas sales revenue of 513 million yuan, a decline of 13.58%, although sales to the United States increased by 45.10% to 217 million yuan [3]. - In the first half of 2025, sales in the new energy vehicle and auto parts sector amounted to 1.675 billion yuan, with a sales volume growth of 28.14% [4]. Production Capacity and Structure - The company’s actual production capacity for rare earth permanent magnet materials reached 32,000 tons in 2024, with plans to expand to 60,000 tons by 2027 [4]. - The revenue structure for the first half of 2025 included 1.05 billion yuan from variable frequency air conditioning, 214 million yuan from wind power generation, and 133 million yuan from robotics and industrial servo motors [4]. Raw Material Supply and Inventory - The company has established long-term strategic partnerships with major rare earth suppliers, with 70% of procurement coming from these suppliers [6]. - As of the reporting period, raw material inventory was valued at 1.158 billion yuan, a 107.02% increase from the end of 2024 [6]. Cash Reserves and Financial Management - The company reported cash reserves of 1.653 billion yuan, along with significant amounts in time deposits and large-denomination certificates of deposit [8]. - The company successfully issued convertible bonds, raising a net amount of 115 million USD, enhancing its financial stability [8]. Dividend Policy - The company has consistently paid cash dividends since its listing, with cumulative cash dividends exceeding 1.2 billion yuan, representing over 47% of the cumulative net profit attributable to shareholders [9]. - For the first half of 2025, the company plans to distribute cash dividends of 1.80 yuan per share, totaling approximately 247 million yuan, which is 81% of the net profit for the period [9].

Group 1 - The company is actively collaborating with a world-renowned technology firm on the research and development of embodied robot motor rotors and capacity construction, with small batch deliveries already taking place [2] - The company has made various investments in project-specific facilities, specialized equipment, and professional teams to support the robot sector, achieving a certain level of scalable production capacity [2] - The company plans to continue increasing its R&D investment in the field of embodied robot motor rotors and is committed to advancing the industrialization of this project to meet the growing market demand [2]

Core Viewpoint - Ping An Securities report indicates that Jinli Permanent Magnet's net profit attributable to shareholders for the first half of 2025 reached 305 million yuan, representing a year-on-year increase of 154.81% [1] Financial Performance - In Q2 2025, the company achieved a net profit attributable to shareholders of 144 million yuan, showing a year-on-year increase of 703.06% but a quarter-on-quarter decrease of 10.03% [1] - The recovery in raw material prices has driven a marginal increase in gross profit margin [1] Market Trends - Rare earth prices have shown a steady increase, with the average price of praseodymium-neodymium metal reaching 580,000 yuan per ton in July 2025, up approximately 16% from the average price of 500,000 yuan per ton in January 2025 [1] Business Development - The company plans to build an advanced production line for robotic motor rotors, which has begun to achieve a certain scale of mass production [1] - Small batch product deliveries have already commenced in the first half of 2025, indicating that the robotics sector is expected to become a significant growth area for the company [1] Future Outlook - Driven by the demand in the new energy and robotics sectors, the demand for rare earth permanent magnets is expected to continue growing [1] - The company's accelerated layout in related fields is anticipated to enhance the release of quality production capacity, thereby increasing performance growth elasticity in the future [1] - The report maintains a "recommended" rating for the company [1]

Financial Performance - In the first half of 2025, the company achieved operating revenue of 3.507 billion CNY, a year-on-year increase of 4.33% [2] - Main business revenue reached 3.226 billion CNY, growing by 11.08% year-on-year [2] - Net profit attributable to shareholders was 305 million CNY, up 154.81% year-on-year [2] - Net profit excluding non-recurring gains and losses was 234 million CNY, a significant increase of 588.18% [2] Export and Sales - Overseas sales revenue for the first half of 2025 was 513 million CNY, a decrease of 13.58% [3] - Sales revenue from exports to the United States was 217 million CNY, an increase of 45.10% [3] Production Capacity and Revenue Structure - The actual production capacity for rare earth permanent magnet materials reached 32,000 tons in 2024, with a target of 60,000 tons by 2027 [4] - Revenue from the new energy vehicle and auto parts sector was 1.675 billion CNY, with a sales volume increase of 28.14% [4] - Revenue from the variable frequency air conditioning sector was 1.050 billion CNY, with a sales volume increase of 19.85% [4] - Other sectors included wind power (214 million CNY), robotics and industrial servo motors (133 million CNY), and 3C products (101 million CNY) [4] Raw Material Supply and Inventory - The company has established large-scale magnetic material factories in key production areas and maintains strategic partnerships with major suppliers, accounting for 70% of total procurement [6] - Raw material inventory was 1.158 billion CNY, a 107.02% increase from the end of 2024 [6] Cash Reserves - The company reported cash reserves of 1.653 billion CNY and large deposits totaling 1.209 billion CNY [9] - The company completed a bond issuance in August 2025, raising a net amount of 115 million USD [9] Dividend Policy - Since its listing in 2018, the company has distributed over 1.2 billion CNY in cash dividends, accounting for over 47% of the cumulative net profit attributable to shareholders [10] - For the first half of 2025, the proposed cash dividend is 1.80 CNY per share, totaling 247 million CNY, which represents 81% of the net profit for the period [10]

Core Viewpoint - The company Jinli Permanent Magnet (300748.SZ) has significantly improved its profitability in the first half of 2025, achieving substantial growth in net profit and operating income despite external uncertainties and intensified industry competition [1][2]. Financial Performance - In the first half of 2025, the company reported operating income of 3.507 billion yuan, a year-on-year increase of 4.33%. The net profit attributable to shareholders reached 305 million yuan, and the net profit after deducting non-recurring gains and losses was 234 million yuan, reflecting year-on-year growth of 154.81% and 588.18% respectively [1]. - Quarterly analysis shows that in Q1 and Q2 of 2025, the operating income was 1.754 billion yuan and 1.753 billion yuan, with year-on-year changes of 14.19% and -3.97%. The net profit attributable to shareholders for the same quarters was 161 million yuan and 144 million yuan, with year-on-year growth of 57.85% and 703.06% [1]. - The company’s performance in 2023 and 2024 showed a decline in operating income and net profit, with 2023's operating income at 6.688 billion yuan and a net profit of 564 million yuan, both down year-on-year [1]. Market Performance - The company achieved domestic sales revenue of 2.994 billion yuan in the first half of 2025, up 8.17% year-on-year, while international sales revenue was 513 million yuan, down 13.58%. Notably, exports to the U.S. increased by 45.10% to 217 million yuan [2]. - In terms of industry segments, the new energy vehicle and auto parts sector generated sales of 1.675 billion yuan, with a sales volume increase of 28.14%. The variable frequency air conditioning sector achieved sales of 1.050 billion yuan, with a sales volume increase of 19.85% [2]. Innovation and R&D - The company is actively pursuing technological innovation and has allocated 170 million yuan for R&D in the first half of 2025, representing 4.84% of its operating income. It holds 136 authorized and pending patents across various regions including Europe, America, and Japan [2]. - The company has upgraded its R&D department to focus on embodied robot motor rotor business, indicating a strategic shift towards this emerging market [3]. Financial Health - As of June 30, 2025, the company maintained a healthy financial position with a debt-to-asset ratio of 45.49% and cash reserves of 2.947 billion yuan [4]. - The company plans to distribute a cash dividend of 247 million yuan, which accounts for 80.99% of its net profit attributable to shareholders [5].

Core Viewpoint - Jiangxi Jinli Permanent Magnet Technology Co., Ltd. reported a steady growth in revenue and profit for the first half of 2025, demonstrating resilience amid external uncertainties and intensified industry competition through market expansion and operational improvements [1] Business Performance - The company achieved operating revenue of 3.507 billion yuan, a year-on-year increase of 4.33% - Net profit attributable to shareholders reached 305 million yuan, up 154.81% year-on-year - The net profit after deducting non-recurring items was 234 million yuan, reflecting a significant growth of 588.18% year-on-year [1] Business Development - Jinli Permanent Magnet is a leading supplier of high-performance neodymium-iron-boron permanent magnet materials, with applications in various sectors including new energy vehicles, energy-efficient air conditioning, wind power generation, robotics, and industrial servo motors [2] - In the first half of 2025, the company reported strong sales performance in several key areas: - New energy vehicles and automotive components generated sales of 1.675 billion yuan, with a sales volume increase of 28.14% - Variable frequency air conditioning sales reached 1.050 billion yuan, with a sales volume increase of 19.85% - Wind power generation sales amounted to 214 million yuan, while robotics and industrial servo motors generated 133 million yuan in sales [2] Raw Material Strategy - To mitigate upstream raw material risks, the company has established long-term strategic partnerships with key rare earth suppliers and developed a rare earth recycling system [3] - The company's subsidiary, Yin Hai New Materials, achieved operating revenue of 78.89 million yuan and a net profit of 13.59 million yuan in the first half of 2025 [3] Emerging Markets - The demand for rare earth permanent magnet materials is increasing in emerging sectors such as humanoid robots and low-altitude flying vehicles [4] - The company is actively expanding into these areas, with ongoing collaborations for the development of motor rotors for humanoid robots and small-scale deliveries already made [4] - The establishment of a dedicated division for humanoid robot motor rotor development indicates a strategic focus on this growth area [4] Market Trends - The global consumption of high-performance rare earth permanent magnet materials is projected to grow significantly, with an estimated increase from 47,500 tons in 2018 to 102,500 tons in 2023, reflecting a compound annual growth rate of approximately 16.6% [5] - By 2028, global consumption is expected to reach 227,100 tons, with a projected compound annual growth rate of 17.2% from 2023 to 2028 [5]