JL Mag Rare-Earth Co., Ltd.
金力永磁
300748
Shenzhen Stock Exchange
Company Profile
1. In the first half of 2025, the Company achieved revenue of RMB3,507 million, representing a year-on-year increase of 4.33%. The Company achieved profit attributable to owners of the parent of RMB305 million, representing a year-on-year increase of 154.81%, while profit attributable to owners of the parent excluding non-recurring gains and losses was RMB234 million, representing a year-on-year increase of 588.18%. 2. In the first half of 2025, the Company’s sales revenue from the NEVs and automotive parts sector reached RMB1,675 million, with corresponding product sales volume increasing by 28.14% year-on-year. The sales revenue from the VFACs sector amounted to RMB1,050 million, with corresponding product sales volume increasing by 19.85% year-on-year. In addition, the Company generated sales revenue of RMB214 million in the wind power sector, RMB133 million in the robots and industrial servo motors sector, and RMB101 million in the 3C sector. 3. By the end of 2024, the Company has possessed an annual production capacity of 38,000 tonnes of high-performance REPMs and is expected to achieve a production capacity of 40,000 tonnes of high performance REPMs along with an advanced production line for embodied robot motor rotors by 2025. In January 2025, in response to the national policy of vigorously building “Two Rare Earth Bases”, and based on market demand and its own business development needs, the Company invested in the construction of “Green Intelligent Manufacturing Project” with an annual output of 20,000 tonnes of high performance REPMs. The Company is striving to achieve a production capacity of 60,000 tonnes of REPMs by 2027. 4. The Company took effective measures to advance the “Quality and Returns Enhancement” initiative. During the Reporting Period, the Company has distributed the 2024 final dividend. Since its listing in 2018, the Company has consistently distributed cash dividends to its shareholders in each fiscal year, with cumulative cash dividends paid exceeding RMB1.2 billion, accounting for over 47% of the cumulative profit attributable to owners of the parent during the same period. To continuously reward the investors and align with the Company’s action plan of “Quality and Returns Enhancement”, the Company proposed to declare a 2025 interim dividend. The Company intends to distribute a cash dividend of RMB1.80 (tax inclusive) for every 10 shares to all shareholders, based on the total number of A Shares and H Shares after deducting the number of A Shares held in the Company’s share repurchase account, as determined on the record date specified in the distribution implementation announcement. The expected total amount of 2025 interim dividend is RMB247 million, accounting for 81% of the profit attributable to owners of the parent during the Reporting Period.
Full description
1.The Principal Business and Product Applications of the Company The Company is a high-tech enterprise engaging in the R&D, production and sales of high-performance NdFeB PMs, magnetic components, motor rotors for humanoid robots and the recycling and comprehensive utilization of rare earth, and a leading supplier of REPMs in the fields of new energy, energy conservation and environmental protection. The Company’s products are widely used in industries including NEVs and automotive parts, energy-saving VFACs, wind power, robots and industrial servo motors, 3C, low-altitude aircraft, energy-saving elevators and rail transit, and the Company has established long-term and stable cooperative relationships with leading domestic and foreign companies across these industries. In the humanoid robot industry, the Company is actively collaborating with world-renowned technology companies in the R&D and capacity construction of motor rotors for humanoid robots, with small-batch deliveries underway. Additionally, in the low-altitude aircraft industry, small-batch deliveries have also been carried out. 2.The Business Model of the Company The Company primarily adopts a make-to-order production management model. The Company purchases rare earth raw materials and auxiliary materials in advance based on the orders on hand, and carries out the design and production of NdFeB PMs, magnetic components and motor rotors for humanoid robots accordingly. The Company currently possesses full-process production capabilities, covering all stages including product R&D, mold design and manufacturing, blank production, finishing machining, surface treatment, testing, magnetic components production, design and production of motor rotors for humanoid robots and the recycling and comprehensive utilization of rare earth. In addition, the Company implements thorough control and meticulous management across all technological processes. Through close cooperation with leading enterprises across various sectors, the Company has developed a mature business model. Clients maintain stringent product quality requirements with extended product evaluation and certification cycles. To meet requirements in quality, technology and management system of these clients, the Company has been continuously optimizing the R&D, manufacturing, supply chain management, customer service, and corporate culture, thus establishing a business model that is increasingly mature and well-aligned with customer needs. 3.Business Drivers and Industry Position With the vision of “Becoming a Global Leader in the REPM Industry”. Since its inception in 2008, the Company continues to enhance its comprehensive strength alongside the rapid development of its business. In 2024, the Company produced approximately 29,300 tonnes of high-performance REPM blanks, representing a year-on-year increase of 39.48%, and sold approximately 20,900 tonnes of high performance REPM finished products, with a year-on-year increase of 37.88%, achieving record-high production and sales volumes in the Company’s history. According to the published industry statistics, the Company has become the biggest REPM manufacturer in the REPM industry in terms of production and sales volume, both in China and globally. The Company was listed among the 2024 Top 100 Jiangxi Private Enterprises, the 2024 Top 100 Private Enterprise in Jiangxi Manufacturing Industry, the 2024 Top 100 Jiangxi Enterprises and the 2024 Top 50 Enterprises in Jiangxi Strategic Emerging Industry. In addition, the Company was recognized as a 2024 Jiangxi Manufacturing Single-Product Champion Enterprise, JL MAG Baotou Technology was recognized as a 2024 Inner Mongolia Manufacturing Single-Product Champion Enterprise, and JL MAG Ningbo Technology was recognized as one of the “SLDI (Specialized, Lean-Operation, Differentiated, and Innovative)” SMEs (Small and Medium Enterprises) in Ningbo City.