10 月 9 日发布的四个文件对稀土出口管制进行了再升级。与 4 月份的规定相比， 这次不仅将 7 种稀土元素及其下游产品列入出口管制范围，还将所有中重稀土 元素（如钬、镝、铽等）纳入其中。此外，对稀土下游产品也制定了严格的出 口管制规定，要求这些产品中含有的磁材比例不得超过 1/1,000。例如，空调 中的磁材价值量占比通常在 1/1,000 以上，因此许多下游产品都受到影响。这 次的规定不仅适用于中国境内生产制造，还包括海外制造的产品。如果这些产 品使用了受控元素或材料，其价值量在 1/1,000 以内，也需要向中国商务部申 请出口许可。 新出台的技术出口管制措施有哪些具体内容？ 此次技术出口管制措施非常明确，不仅涵盖之前列入禁止名单中的稀土萃取分 离技术、稀有金属合金材料、铝镍钴烧结磁体等技术，还新增了上游开采和二 次资源回收利用相关技术。设计图纸、工艺规范、工艺参数、程序仿真等数据 资料，以及相关设备和催化剂（如 P507 萃取剂）均被纳入管控范围。这些措 施旨在增强中国在全球供应链中的话语权，并可能延长海外供应链建设所需时 间。 出口管制是否会影响需求端？ 稀土：出口管制再升级，稀土板块再迎配置时机 ...

↑点击上面图片 加雪球核心交流群 ↑ 风险提示：本文所提到的观点仅代表个人的意见，所涉及标的不作推荐，据此买卖，风险自负。 川子再次偷袭 ， 理性思考了几点 ： 1 、 4月份的全世界宣战 ， 到今天刚好半年 ， 双方打破蜜月期 ， 又开始剑拔弩张 ， 双方都有动作 ， 这次看起来更多是我们先进行主动防御 。 2 、 关键焦点在于稀土 ， 我们升级了反制措施 ， 这让川子恼怒 ， 这更加说明反制措施打在了七寸 。 3 、 这次还是不是taco交易 ？ 市场在关注这个 ， 我认为按照川子的个性 ， 这次不例外 。 4 、 这次我们主动升级了反制措施 ， 对多个领域反制 ， 更多说明了我们有充足的准备 ， 从稀土到磁材再到关键元素 ， 这套打法成熟而有效 ， 给对方造成了实质性的困扰 。 5 、 不难推测 ， 高端制造等领域 ， 我们应该是有了实质性的突破 ， 包括新凯来光刻机领域的发布时机来看 ， 国产替代已进入实质推进阶段 ， 另外多数在美上市的企业也已完成港股第二上市或转为主要上市地 。 6 、 美国宣布的对华 " 100%关税+EDA软件管制 " 两张牌 ， 实际上是重复使用的旧手段 。 过去几年 ， 美 ...

Core Viewpoint - The company, Hengdian East Magnetic, is expected to achieve significant growth in net profit for the first three quarters of the year, driven by strong performance across its business segments, particularly in magnetic materials, photovoltaic, and lithium battery industries [1][2]. Business Segment Analysis Magnetic Materials - The company maintains a leading position in the magnetic materials industry, with increasing market share in the home appliance and automotive sectors. New products in electric vehicle charging systems and AI server power supplies are experiencing rapid growth in shipments [1]. - The overall shipment of magnetic materials reached approximately 107,000 tons in the first half of the year, with a notable improvement in product structure and average selling price [2]. Photovoltaic Industry - Hengdian East Magnetic has adopted a differentiated strategy in the photovoltaic sector, enhancing product capabilities through R&D and process optimization. The company has established strategic inventory to mitigate the impact of rising silicon prices [2]. - The company anticipates continued support for component profitability in the second half of the year, despite uncertainties in domestic installation pace and pricing adjustments [3]. Lithium Battery Sector - The company focuses on high operational efficiency and market share growth in the lithium battery sector, with a stable increase in the market share of its main products. The demand for high-power batteries in applications like BBU is expected to grow significantly in the coming years [3].

人民财讯10月12日电，横店东磁（002056）10月12日披露业绩预告，公司前三季度预计实现归属于上市 公司股东的净利润13.9亿元—15.3亿元，同比增长50.1%—65.2%。磁材产业上，公司龙头地位稳固，在 家电和汽车领域市占率持续提升。同时，公司横向拓展和纵向延伸布局的多个磁材新品；并通过组织变 革和数智化推进，进一步提升了运营效率和盈利能力。光伏产业上，强化差异化战略，通过持续的研发 投入、技改投资和工艺优化，适时推出超高功率产品，进一步提升了产品力。 ...

格隆汇9月29日丨大地熊(688077.SH)在投资者互动平台表示，为了满足人形机器人对磁体轻量化的要 求，公司不断提升磁材的剩磁和最大磁能积，以更小尺寸的磁体满足磁场需求。金属粉末注射成型技术 （MIM）是粉末材料成型的常用方法之一，主要适用于结构材料的生产制造。公司研发团队对MIM技 术应用于磁材生产的可能性进行了调研并开展了预研。 ...

Group 1 - The company Jinli Permanent Magnet (300748.SZ) announced on September 24 that its actual production capacity for magnetic materials in 2024 will be 32,000 tons [1] - By the end of 2024, the company plans to complete the construction of a production capacity of 38,000 tons of magnetic materials and an advanced embodied robot motor rotor production line [1] - The "20,000 tons high-performance rare earth permanent magnet materials green manufacturing project" is under construction as planned, with a target completion of 60,000 tons of magnetic material capacity by 2027 [1]

Group 1 - The company currently has a production capacity of 30,000 tons per year [1] - The company's capacity utilization rate is consistently operating at a high level [1] - The company is orderly scheduling production based on existing orders and is steadily advancing capacity construction as appropriate [1]

Market Performance - On August 25, the rare earth magnetic materials sector saw significant gains, with companies like Jinli Permanent Magnet and Dadi Bear rising over 10%, and Northern Rare Earth increasing by over 8% [1] - The non-ferrous metals sector also performed well, with companies such as Zhangyuan Tungsten and Northern Copper hitting the daily limit, and Luoyang Molybdenum rising over 7%, reaching a historical high [1] Stock Highlights - Zhangyuan Tungsten (002378.SZ) reached a price of 13.38 with a gain of 10.03% and a market cap of 159.90 billion [3] - Northern Copper (000737.SZ) increased to 12.50, up 10.04%, with a market cap of 238.07 billion [3] - Hunan Silver (002716.SZ) also saw a rise of 10.00%, reaching a price of 5.39 and a market cap of 119.14 billion [3] Regulatory Developments - On August 22, the Ministry of Industry and Information Technology, the National Development and Reform Commission, and the Ministry of Natural Resources jointly announced the "Interim Measures for Total Control Management of Rare Earth Mining and Smelting Separation," effective immediately [5] - The measures require rare earth production companies to establish a tracking system for rare earth product flows and report this information monthly [5] Industry Insights - The recent implementation of the interim measures marks the beginning of significant supply-side reforms in the rare earth industry, with a notable increase in magnetic material exports in July, up 75% month-on-month and 6% year-on-year, indicating potential for further recovery [6] - The demand for magnetic materials in the electric vehicle sector is expected to grow by nearly 20% this year, with wind power and industrial robotics also showing strong growth prospects [6] - Short-term supply and demand dynamics are shifting, with expectations of improved demand as the peak season approaches, providing support for prices [6]

本周行情综述 铜：本周LME铜价-0.26%%到9734.50美元/吨，沪铜-0.47%到7.87万元/吨。供应端，据 SMM，本周进口铜精矿加工费周度指数跌至-41.15美元/吨；截至本周四，全国主流地区铜 库存较周一下降0.2万吨至13.17万吨，较上周四增加0.61万吨。冶炼端，受原料紧张及政策 不明的影响，国内部分阳极板企业减产停产，致本周行业开工率环比下降7.39%至52.1%； 2025年7月，中国进口阳极铜8.42万吨，环比大增22.9%，同比增19.1%。消费端，据SMM， 本周漆包线行业机台开机率环比微降0.27个百分点至78.13%；本周黄铜棒行业开工率 49.83%，原料与成品库存双双回落，均处低位。受再生铜税收政策调整影响，江西已有小 型企业暂停生产观望。若政策9月落地，当地成本优势不再，订单或回流浙江。当前仍处传 统淡季，需求预计9月中旬回暖。SMM预计，下周开工率将微降至49.58%。 铝：本周LME铝价-0.38%到2593.00美元/吨，沪铝-0.67%到2.06万元/吨。供应端，据 SMM，本周四国内主流消费地电解铝锭库存59.6万吨，较周一下跌1.1万吨，较上周四增加 0. ...

Core Viewpoint - The company has successfully achieved large-scale supply of copper inductors for AI servers and filters for new energy vehicles, with monthly revenue increasing from millions to tens of millions [1] Group 1: Financial Performance - In the first half of the year, the company's overall magnetic material shipment was approximately 107,000 tons, showing no significant year-on-year change [1] - There is a noticeable optimization in product structure, leading to an increase in average selling prices [1] Group 2: Business Segments - The soft magnetic business is experiencing rapid growth due to numerous emerging application areas [1] - The plastic magnetic business maintains good gross margins and growth rates [1] - The permanent magnet business is expected to see single-digit growth due to diminishing marginal effects from the "old-for-new" policy [1]