JLMAG(SZ:300748)2022-11-23 06:56Financial Performance - In 2020, the company achieved a revenue of 241,930.67 million CNY, representing a year-on-year growth of 42.58% [2] - Domestic sales revenue reached 207,850.22 million CNY, up by 46.83%, while overseas sales revenue was 34,080.45 million CNY, increasing by 21.17% [2] - The net profit attributable to shareholders was 24,448.37 million CNY, a growth of 55.84% year-on-year [2] - The net profit after deducting non-recurring gains and losses was 22,713.18 million CNY, with a year-on-year increase of 54.68% [2] Market Position and Product Applications - The company is a leading supplier of high-performance rare earth permanent magnet materials, essential for clean energy and energy-saving sectors [3] - In 2020, the company supplied enough magnetic steel for approximately 450,000 new energy passenger vehicles and 41 million air conditioning compressors [3] - The company’s wind power magnetic steel output could support an installed capacity of about 10 GW [3] Strategic Development Plans - The company plans to increase its production capacity of high-performance rare earth permanent magnet materials to 40,000 tons by 2025 [3] - The compound annual growth rate of revenue from 2017 to 2020 was 38.41% [3] - The company aims to support national goals of "carbon peak" and "carbon neutrality" through its products and services [3] Industry Trends and Government Policies - The 14th Five-Year Plan emphasizes the development of a modern energy system and the promotion of green manufacturing [4] - By 2030, China aims to reduce carbon emissions per unit of GDP by over 65% compared to 2005 levels, with non-fossil energy accounting for about 25% of total energy consumption [4] - The demand for high-performance rare earth permanent magnets is expected to grow significantly in the fields of new energy vehicles, variable frequency air conditioning, and wind power generation [4] Response to Raw Material Price Fluctuations - The company has established stable partnerships with major rare earth suppliers to ensure a steady supply of raw materials [6] - Strategies include early procurement of raw materials, maintaining safety stock, and optimizing formulas and processes to mitigate the impact of price fluctuations [6] Profit Distribution Plan - The company proposed a profit distribution plan for 2020, distributing a cash dividend of 2 CNY per 10 shares and a capital reserve increase of 6 shares per 10 shares [7] - The expected cash dividend amount is approximately 86.34 million CNY, with total cash dividends since establishment reaching around 700 million CNY [7]