BAOWU MAGNESIUM(SZ:002182)2025-09-11 08:24Industry Overview - In the first half of 2025, China's primary magnesium production was approximately 476,800 tons, a year-on-year decrease of about 2.19% [1] - Total exports of various magnesium products reached around 221,500 tons, down 6.18% year-on-year [1] - Magnesium prices fluctuated between 15,000-17,000 RMB/ton (including tax), with the magnesium-aluminum ratio dropping to a historical low of 0.8-0.9, highlighting the cost-effectiveness of magnesium materials [1] Company Resource Status - Subsidiary Chao Lake Bao Magnesium holds white marble mineral resources with a reserve of 90 million tons, currently in operation [2] - Subsidiary Wutai Bao Magnesium has white marble mineral resources with a reserve of 580 million tons [2] - The company’s associate Anhui Bao Magnesium possesses white marble mineral resources with a reserve of 1.3 billion tons, which is not yet in production [2] - Gansu Bao Magnesium's subsidiary has quartzite mineral resources with a reserve of 2.95 million tons, with mining rights obtained and expected to commence in Q4 2025, which will effectively reduce silicon iron production costs [2] Automotive Sector Applications - Magnesium prices have remained lower than aluminum prices, accelerating the penetration of magnesium in automotive lightweighting [3] - Die-casting plants are increasingly adopting magnesium die-casting, including some aluminum die-casting companies [3] - New energy vehicle companies, including brands like Geely and SAIC, are increasing the use of magnesium products, with some vehicles using over 20 kg of magnesium per unit, potentially reaching 50-100 kg with larger magnesium die-cast components [3] Robotics Industry Applications - Magnesium alloys enhance the robotics industry with advantages such as lightweight, speed, stability, and cost-effectiveness [4] - The use of advanced magnesium alloy materials reduces the weight of similar components, improves operational speed, and extends the lifespan of robotic joints due to superior thermal conductivity [4] - The company has established a robotics business working group to engage with clients and promote magnesium applications [4] Electric Bicycle Applications - Magnesium's lightweight, electromagnetic shielding, and vibration damping properties are being utilized in electric bicycles [6] - Leading electric vehicle manufacturers like Aima and Yadea are incorporating magnesium alloy components, resulting in reduced weight and improved range and shock absorption [6] - The adoption of magnesium alloys is expected to lower production costs and enhance competitiveness against aluminum alloys [6]