Core Viewpoint - Jiangxi Jinli Permanent Magnet Technology Co., Ltd. reported a focus on core business and capacity expansion despite challenges from declining rare earth material prices, achieving record sales in high-performance magnetic materials [1][2] Group 1: Financial Performance - In 2024, the company achieved operating revenue of 6.763 billion yuan, a year-on-year increase of 1.13% [1] - The total sales volume of high-performance rare earth permanent magnet materials reached 20,900 tons, a year-on-year increase of 37.88% [1] - The net profit attributable to shareholders was 291 million yuan, a year-on-year decrease of 48.37% due to raw material price fluctuations and intensified competition [2] Group 2: Business Segments - Revenue from the new energy vehicle and auto parts business reached 3.314 billion yuan, with a sales volume increase of 38.62%, supporting approximately 5.5 million new energy passenger vehicles [2] - The energy-efficient variable frequency air conditioning sector generated revenue of 1.540 billion yuan, with a sales volume increase of 61.81% [2] - Wind power revenue was 497 million yuan, with a sales volume increase of 2.03%, supporting around 12 GW of installed capacity [2] Group 3: Capacity Expansion and Future Plans - The actual production capacity of high-performance rare earth permanent magnet materials reached 32,000 tons, with a utilization rate exceeding 90% [3] - By the end of 2024, the company aims to achieve a production capacity of 38,000 tons per year, with plans to reach 40,000 tons by 2025 [3] - The company is investing in a "green intelligent manufacturing project" for 20,000 tons of high-performance rare earth permanent magnet materials, targeting a total capacity of 60,000 tons by 2027 [3] Group 4: Emerging Opportunities - The company is actively developing magnetic components for humanoid robots, anticipating significant demand growth in this area [4] - Revenue from the 3C sector reached 213 million yuan, with a year-on-year sales increase of 104.54% [4] - The company is also making progress in the low-altitude aircraft sector, aligning with national strategies [4] Group 5: Dividend Policy - Since its listing in 2018, the company has distributed over 1 billion yuan in cash dividends, with a planned dividend of 164 million yuan for 2024 [5] - The total cash dividend for 2024 is expected to exceed 90% of the net profit attributable to shareholders [5] - The company aims to maintain a customer-oriented approach while focusing on core magnetic material business and technological innovation [5]