Jinli Permanent Magnet: Menerima survei institusi pada 7 April, dengan partisipasi dari banyak institusi seperti Zhengzhou Securities dan China-Canada Fund

Securities Star News, 7 April 2026, Jinli Permanent Magnet (300748) announced that the company accepted institutional research on April 7, 2026, with participation from Founder Securities’ Xiong Yuhang, China-Canada Fund’s Zhao Qichao, GF Fund’s Chen Shaoping, and Huashang Fund’s Ding Xicheng.

The specific content is as follows:

Q: Please briefly introduce the company’s performance for the full year 2025?

A: In 2025, against the backdrop of intensified industry competition, the company’s management adhered to a prudent and compliant business strategy, led enterprise development through technological innovation, actively expanded the market, and implemented measures such as organizational optimization, lean management, and flexible adjustment of raw material inventory strategies. While ensuring delivery, the company continuously improved operational efficiency and profitability, further consolidating its leading position in the global rare earth permanent magnet industry.

In 2025, the company achieved total operating revenue of 7.718 billion yuan and main business revenue of 7.028 billion yuan, representing year-on-year increases of 14.11% and 19.00%, respectively; realized net profit attributable to shareholders of listed companies of 706 million yuan, a year-on-year increase of 142.44%; net profit after deducting share-based payments of 804 million yuan, a year-on-year increase of 173.58%; and net profit attributable to shareholders after deducting non-recurring gains and losses of 620 million yuan, a year-on-year increase of 264.00%. The company’s comprehensive gross profit margin reached 21.18%, an increase of 10.05 percentage points compared to 11.13% last year.

The company’s profit statement includes share-based payment expenses due to equity incentives, as well as financial expenses calculated using the actual interest rate method for convertible bonds, totaling approximately 107 million yuan, of which only 5.11 million yuan will require actual cash outflow in the future. The company’s operating cash flow remains generally healthy.

Q: What is the current development status of the company’s embodied robot business?

A: The company is actively布局 in the robotics field. On one hand, it cooperates with internationally renowned technology companies to develop and build capacity for embodied robot motor rotors, with small batch product deliveries; on the other hand, it strategically布局 key links in the relevant产业链 through direct investments or participation in industry funds, accelerating industrial synergy and commercialization.

The motor rotor is one of the key components of embodied robots. Compared to traditional magnetic material业务 mainly focused on material delivery, the rotor业务 is closer to the customer assembly end, with value depending more on processing precision, reliability, consistency, and large-scale delivery capability. It has the potential to enhance product added value and diversify product structure. The company has developed and built an automated production line for embodied robot rotors based on downstream customer需求, and mass production and盈利贡献 will gradually reflect as downstream客户的生产进度 progresses.

Q: Please describe the company’s raw material supply and recycling布局?

A: The company has built large magnetic material factories in major production areas of heavy rare earth in Ganzhou, Jiangxi; light rare earth in Baotou, Inner Mongolia; and in Ningbo, Zhejiang, a major magnetic material产业集群所在地. The company has established a diversified rare earth resource保障体系, forming long-term strategic合作关系 with主要稀土原材料供应商 including Northern Rare Earth Group and China Rare Earth Group, while steadily推进 upstream procurement布局. The company continues to implement annual long-term agreements with Northern Rare Earth Group and China Rare Earth Group, and has expanded procurement varieties including alloy sheets to ensure stable delivery to customers. In 2025, the company’s采购金额 from Northern Rare Earth Group and China Rare Earth Group accounted for about 72% of total采购额.

The company is one of the早期布局稀土收企业 in the industry, currently holding a 51% stake in Silver Sea New Material. Relying on the集团制造体系, the磁泥,边角料, and other可收物 generated during production at various factories can be稳定供应 to Silver Sea New Material for processing, meeting its生产需求 while providing strong保障 for the company’s raw material supply. In 2025, the company accumulated 3,681 tons of rare earth raw materials.

Silver Sea New Material has achieved operational收入 and利润贡献. In 2025, it realized operating收入 of 195 million yuan and net利润 of 50.5 million yuan(, excluding adjustments related to合并对价分摊). Currently, Silver Sea New Material has passed ISO 14021 certification, and its主要产品 have obtained international standard 100% recyclable component认证.

Q: What is the company’s capacity规划情况?

A: In February 2026, the company completed asset transfer and capital increase for its wholly-owned subsidiary Jinli Ganzhou New Materials, based on the assets, debts, and employees of the Ganzhou生产基地 as of January 1, 2026. This transfer and capital increase mark the successful transformation of the company from a single production基地上市主体 in Ganzhou to a集团化布局 with母公司作为控股管理平台 and各生产基地子公司协同运营.

By the end of 2025, the company had completed the construction of a 40,000-ton/year magnetic material capacity, with actual annual产能 of 38,000 tons and utilization rate exceeding 90%. It also established an advanced embodied robot motor rotor生产线.

In January 2025, the company proposed to invest in and build the Baotou Phase III “Annual Production of 20,000 Tons of High-Performance Rare Earth Permanent Magnet Materials Green Intelligent Manufacturing Project,” which officially broke ground within the year. Some工程主体 have passed acceptance smoothly, and capacity will be gradually released in batches. It is预计 that by the end of 2027, the company’s magnetic material capacity could reach 60,000 tons/year.

Jinli Permanent Magnet (300748)主要业务：高性能钕铁硼永磁材料、磁组件、具身机器人电机转子及稀土回收的研发、生产和销售。

Jinli Permanent Magnet’s 2025 annual report shows that the company’s main business收入 for the year was 7.718 billion yuan, up 14.11% year-on-year; net利润 attributable to母公司 was 706 million yuan, up 142.44%;扣非净利润 was 620 million yuan, up 264.0%; in the fourth quarter of 2025, the company’s quarterly main business收入 was 2.345 billion yuan, up 34.04%; quarterly net利润 attributable to母公司 was 190 million yuan, up 101.94%; quarterly扣非净利润 was 190 million yuan, up 134.08%; debt ratio was 49.87%, investment收益 8.4491 million yuan, financial expenses -12.2828 million yuan, gross profit margin 21.18%.

In the past 90 days, 7机构 have given ratings on this stock, with 4 buy ratings and 3增持 ratings; the average target price among机构 in the past 90 days was 39.3.

Below is detailed盈利预测信息:

融资融券数据显示，近3个月融资净流出1.62亿，融资余额减少；融券净流入315.45万，融券余额增加。

The above content is整理 by Securities Star based on公开信息, generated by AI算法 (网信算备310104345710301240019号), and does not constitute投资建议.