11月17日，天和磁材涨0.21%，成交额6315.87万元。两融数据显示，当日天和磁材获融资买入额287.61 万元，融资偿还466.95万元，融资净买入-179.34万元。截至11月17日，天和磁材融资融券余额合计1.93 亿元。 融资方面，天和磁材当日融资买入287.61万元。当前融资余额1.93亿元，占流通市值的6.26%。 机构持仓方面，截止2025年9月30日，天和磁材十大流通股东中，嘉实中证稀土产业ETF（516150）位 居第一大流通股东，持股85.05万股，相比上期增加44.68万股。南方中证1000ETF（512100）位居第二 大流通股东，持股72.33万股，相比上期减少1.19万股。华夏中证1000ETF（159845）位居第四大流通股 东，持股43.10万股，相比上期增加1626.00股。稀土ETF（516780）位居第五大流通股东，持股36.53万 股，相比上期增加17.97万股。广发中证1000ETF（560010）位居第七大流通股东，持股33.21万股，相 比上期减少1.59万股。 责任编辑：小浪快报 资料显示，包头天和磁材科技股份有限公司位于内蒙古自治区包头稀土高新区稀土应用 ...

Core Viewpoint - Tianhe Magnetic Materials experienced a slight decline in stock price, with a trading volume of 68.87 million yuan on November 11, and a net financing purchase of 813,900 yuan for the day [1] Financing and Trading Data - On November 11, Tianhe Magnetic Materials had a financing purchase of 6.34 million yuan and a financing repayment of 5.53 million yuan, resulting in a net financing purchase of 813,900 yuan [1] - As of November 11, the total balance of margin trading for Tianhe Magnetic Materials was 200 million yuan, accounting for 6.42% of its circulating market value [1] - The company had a short selling repayment of 300 shares and a short selling of 200 shares on the same day, with a short selling amount of 9,422 yuan [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's main business involves the research, production, and sales of high-performance rare earth permanent magnetic materials, including sintered NdFeB and sintered SmCo [1] - The revenue composition includes: sintered NdFeB (46.99%), finished products of sintered NdFeB (36.59%), blanks of sintered NdFeB (10.39%), others (5.02%), sintered SmCo (0.51%), blanks of sintered SmCo (0.27%), and finished products of sintered SmCo (0.23%) [1] Financial Performance - As of September 30, the number of shareholders for Tianhe Magnetic Materials was 39,700, a decrease of 27.77% from the previous period, while the average circulating shares per person increased by 41.29% to 1,662 shares [2] - For the period from January to September 2025, the company reported a revenue of 1.61 billion yuan, a year-on-year decrease of 16.86%, while the net profit attributable to shareholders increased by 12.46% to 120 million yuan [2] Dividend and Institutional Holdings - Since its A-share listing, Tianhe Magnetic Materials has distributed a total of 39.64 million yuan in dividends [3] - As of September 30, 2025, the largest circulating shareholder was the Harvest CSI Rare Earth Industry ETF, holding 850,500 shares, an increase of 446,800 shares from the previous period [3] - Other notable institutional holdings include the Southern CSI 1000 ETF and the Huaxia CSI 1000 ETF, with varying changes in their respective holdings [3]

Core Insights - Tianhe Magnetic Materials experienced a slight increase of 0.04% in stock price on November 5, with a trading volume of 81.29 million yuan [1] - The company reported a total revenue of 1.61 billion yuan for the first nine months of 2025, a year-on-year decrease of 16.86%, while net profit attributable to shareholders increased by 12.46% to 120 million yuan [2] Financing and Trading Data - On November 5, Tianhe Magnetic Materials had a financing buy amount of 6.23 million yuan and a financing repayment of 6.31 million yuan, resulting in a net financing buy of -84,500 yuan [1] - The total margin trading balance as of November 5 was 199 million yuan, with the financing balance accounting for 6.34% of the circulating market value [1] - The company had a margin balance of 525,400 yuan with a short selling volume of 600 shares on the same day [1] Shareholder and Institutional Holdings - As of September 30, the number of shareholders decreased by 27.77% to 39,700, while the average circulating shares per person increased by 41.29% to 1,662 shares [2] - The largest circulating shareholder is the Harvest CSI Rare Earth Industry ETF, holding 850,500 shares, an increase of 446,800 shares compared to the previous period [3] - Other notable institutional holdings include the Southern CSI 1000 ETF and the Huaxia CSI 1000 ETF, with varying changes in their respective holdings [3] Company Overview - Tianhe Magnetic Materials, established on May 22, 2008, 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 includes 46.99% from sintered NdFeB, with other contributions from various forms of NdFeB and SmCo materials [1]

Core Viewpoint - Tianhe Magnetic Materials, established in May 2008, is a significant player in the high-performance rare earth permanent magnet materials sector, with strong capabilities in R&D and production [1] Group 1: Business Performance - In Q3 2025, Tianhe Magnetic Materials reported revenue of 1.61 billion yuan, ranking 6th among 14 companies in the industry [2] - The company's main business segments include sintered NdFeB, generating 842 million yuan (46.99% of revenue), and sintered SmCo, contributing 655 million yuan (36.59%) [2] - The net profit for the same period was 120 million yuan, placing it 9th in the industry [2] Group 2: Financial Ratios - As of Q3 2025, Tianhe Magnetic Materials had a debt-to-asset ratio of 32.19%, down from 55.34% year-on-year, which is below the industry average of 33.39% [3] - The gross profit margin for Q3 2025 was 13.56%, slightly up from 13.12% year-on-year, but still below the industry average of 24.35% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 27.77% to 39,700 [5] - The average number of circulating A-shares held per shareholder increased by 41.29% to 1,662.31 [5] - The largest circulating shareholder is the Harvest CSI Rare Earth Industry ETF, holding 850,500 shares, an increase of 446,800 shares from the previous period [5]

Core Viewpoint - Tianhe Magnetic Materials has shown a mixed performance in stock price and financial metrics, with a slight increase in stock price recently but a decline in revenue year-on-year, indicating potential challenges in the market [1][2]. Financial Performance - As of September 30, 2025, Tianhe Magnetic Materials reported a revenue of 1.61 billion yuan, a year-on-year decrease of 16.86%, while the net profit attributable to shareholders was 120 million yuan, reflecting a year-on-year increase of 12.46% [2]. - The company has distributed a total of 39.64 million yuan in dividends since its A-share listing [3]. Stock Market Activity - On October 29, 2025, the stock price of Tianhe Magnetic Materials rose by 2.03% to 48.72 yuan per share, with a trading volume of 119 million yuan and a turnover rate of 3.72%, resulting in a total market capitalization of 12.876 billion yuan [1]. - The stock has appeared on the daily trading list 44 times this year, with the most recent occurrence on July 11, 2025, where it recorded a net buy of -9.1987 million yuan [1]. Shareholder Structure - As of September 30, 2025, the number of shareholders decreased by 27.77% to 39,700, while the average circulating shares per person increased by 41.29% to 1,662 shares [2]. - The largest circulating shareholder is the Harvest CSI Rare Earth Industry ETF, holding 850,500 shares, an increase of 446,800 shares compared to the previous period [3].

Core Insights - Tianhe Magnetic Materials experienced a decline of 1.40% in stock price on October 28, with a trading volume of 134 million yuan [1] - The company reported a total revenue of 1.61 billion yuan for the first nine months of 2025, a year-on-year decrease of 16.86%, while net profit attributable to shareholders increased by 12.46% to 120 million yuan [2] Financing and Trading Activity - On October 28, Tianhe Magnetic Materials had a net financing purchase of 958,400 yuan, with a total financing balance of 201 million yuan, representing 6.37% of its market capitalization [1] - The company had a margin trading balance of 296,100 yuan, with 6,200 shares available for short selling [1] Shareholder and Institutional Holdings - As of September 30, 2025, the number of shareholders decreased by 27.77% to 39,700, while the average number of circulating shares per person increased by 41.29% to 1,662 shares [2] - The largest circulating shareholder is the Harvest CSI Rare Earth Industry ETF, holding 850,500 shares, an increase of 446,800 shares from the previous period [3]

Group 1 - Tianhe Magnetic Materials (SH 603072) announced on October 29 that its third board meeting will be held on October 28, 2025, to review the proposal for the reappointment of the accounting firm [1] - For the year 2024, the revenue composition of Tianhe Magnetic Materials is as follows: Sintered NdFeB accounts for 91.44%, other businesses account for 7.92%, and sintered SmCo accounts for 0.64% [1] Group 2 - The A-share market has surpassed 4000 points, marking a significant resurgence after ten years of stagnation, with technology leading the market's transformation into a "slow bull" new pattern [1]

Core Viewpoint - Tianhe Magnetic Materials (603072.SH) is planning a significant investment in a high-performance rare earth permanent magnet project, with a total investment of approximately 850 million yuan, in response to the increasing demand for high-performance materials and the new export control situation in the rare earth industry [2][3]. Investment Plans - The project will be constructed in two phases, with the first phase requiring an investment of 210 million yuan, focusing on the necessary facilities and equipment for high-performance rare earth permanent magnets [3]. - The project site covers approximately 67 acres and is expected to take 18 months to complete, from March 2026 to August 2027 [3]. - The project aligns with national industrial policies and aims to enhance the company's market competitiveness and overall profitability [3]. Financial Performance - Despite the planned expansion, Tianhe Magnetic's performance has been underwhelming compared to peers, with a notable decline in production and sales in the first half of the year [2][10]. - The company reported a revenue of 940 million yuan and a net profit of 53.45 million yuan for the first half of 2025, reflecting a year-on-year decline of 25.80% and 18.48%, respectively [10][14]. - The company's cash flow remains stable, with 682 million yuan in cash and a debt ratio of 35.43% as of June 30, 2025 [5]. Market Context - The rare earth industry is experiencing increased demand due to new applications such as humanoid robots, which are expected to drive future growth in the sector [10][13]. - The company has faced challenges due to export control policies, which have impacted its international sales, but it is actively working to regain market share [13][14]. - The overall market for rare earth permanent magnets is anticipated to improve, driven by domestic and international demand [2][10].

Core Viewpoint - Tianhe Magnetic Materials (603072.SH), a leading company in rare earth permanent magnets, is facing a minor financial setback due to the freezing of some funds related to a construction contract dispute, while simultaneously planning new investments in projects [1][5]. Financial Impact - The company announced that 7.1236 million yuan of its fundraising account has been frozen due to a legal dispute with Shanxi Erjian Group Co., Ltd. This amount represents 0.35% of the company's latest audited net assets and is not expected to significantly impact the company's fundraising or operational capabilities [5][6]. - The frozen funds are linked to a project aimed at producing 3,000 tons of high-performance neodymium-iron-boron for electric vehicles, with a total planned investment of 249 million yuan, of which 81 million yuan has been invested so far, indicating a progress rate of 32.63% [6]. Performance Trends - The company's revenue and net profit have been declining from 2022 to 2024, with revenues of 2.885 billion yuan, 2.651 billion yuan, and 2.590 billion yuan, and net profits of 190 million yuan, 161 million yuan, and 132 million yuan respectively. In the first half of 2025, revenue and net profit further dropped to 940 million yuan and 3.5 million yuan, reflecting year-on-year declines of 25.8% and 47.1% [7][8]. - The decline in performance is attributed to increased competition and a drop in product prices, with the average selling price of sintered neodymium-iron-boron decreasing by 35.22% from 474,400 yuan/ton to 307,300 yuan/ton between 2022 and 2024 [8][11]. Market Conditions - The rare earth materials market has seen fluctuations, with prices for key raw materials like praseodymium-neodymium rising from 423,200 yuan/ton in early 2024 to 543,400 yuan/ton by June 2025 [8]. - The company has been affected by export control policies, which have delayed shipments to overseas clients, but it is actively working to expand its domestic market presence [8]. Capacity and Expansion Plans - Tianhe Magnetic Materials has consistently operated at high capacity utilization rates, exceeding 100% in recent years, and is planning to invest 850 million yuan in a new project for high-performance rare earth magnets and components [9][10]. - The new project is expected to enhance production capabilities and address the ongoing competitive pressures in the market [9][10].

Core Insights - Tianhe Magnetic Materials experienced a stock price increase of 5.72%, reaching 50.81 CNY per share, with a trading volume of 148 million CNY and a turnover rate of 4.54%, resulting in a total market capitalization of 13.428 billion CNY [1] Company Overview - Tianhe Magnetic Materials Technology Co., Ltd. is located in Baotou Rare Earth High-tech Zone, Inner Mongolia, established on May 22, 2008, and listed on January 3, 2025 [1] - The company's main business involves the research, production, and sales of high-performance rare earth permanent magnetic materials, including sintered NdFeB and sintered SmCo [1] - Revenue composition 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%, Sintered SmCo: Finished products 0.23% [1] Shareholder Insights - Huatai Bairui Fund has a position among the top ten circulating shareholders of Tianhe Magnetic Materials, with the Rare Earth ETF (516780) newly entering the top ten in the second quarter, holding 185,600 shares, accounting for 0.29% of circulating shares [2] - The estimated floating profit for the Rare Earth ETF today is approximately 510,400 CNY [2] - The Rare Earth ETF was established on February 26, 2021, with a current scale of 1.119 billion CNY, achieving a year-to-date return of 74.9%, ranking 46 out of 4,219 in its category; over the past year, it has returned 94.89%, ranking 5 out of 3,866 [2]