JLMAG(300748)2025-03-02 15:10Group 1: Company Performance - The company achieved a production capacity utilization rate exceeding 90% in 2024, with high-performance magnetic material production and sales reaching the highest level in its history [2][3] - The estimated net cash flow from operating activities for 2024 is approximately CNY 420 million [3] Group 2: Raw Material Supply and Inventory - The company maintains stable procurement of rare earth raw materials, primarily from major domestic suppliers, including Northern Rare Earth Group and China Rare Earth Group [5] - In 2023, the company utilized 1,848 tons of recycled rare earth materials, accounting for 29.39% of the total rare earth materials used [5] Group 3: New Projects and Capacity Expansion - The company plans to invest CNY 1.05 billion in a new project to produce 20,000 tons of high-performance rare earth permanent magnet materials, with a total production capacity of 60,000 tons upon completion [6] - The project is expected to be completed within two years, aligning with the national policy to establish "two rare earth bases" [6] Group 4: Market Outlook - The company holds an optimistic outlook for 2025, driven by favorable policy support and increasing market penetration in sectors such as new energy vehicles and variable frequency air conditioners [7]