Jinli Permanent Magnet: On April 7th, it received institutional research, with multiple institutions including Founder Securities and China-Canada Fund participating.

Securities Star News, on April 7, 2026, JINLIYONGCI (300748) issued an announcement stating that the company was surveyed by institutions 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 in 2025?

A: In 2025, against the backdrop of intensified industry competition, the company’s management adhered to a prudent and compliant operating policy, led the company’s development through technological innovation, actively expanded the market, and improved operational efficiency and profitability through organizational optimization, lean management, and flexible adjustment of raw material inventory strategies, thereby further consolidating its position as a global leader in the rare earth permanent magnet industry.

In 2025, the company achieved total operating revenue of 7.72B yuan and main business revenue of 7.03B yuan, representing year-on-year increases of 14.11% and 19.00%, respectively; net profit attributable to shareholders of the listed company was 706 million yuan, up 142.44% year-on-year; net profit after deducting share-based payments was 804 million yuan, up 173.58% year-on-year; net profit attributable to shareholders after deducting non-recurring gains and losses was 620 million yuan, up 264.00% year-on-year. The company’s gross profit margin reached 21.18%, an increase of 10.05 percentage points from 11.13% last year.

The profit statement includes share-based payment expenses related to equity incentives and financial expenses calculated using the effective 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 overall operating cash flow remains healthy.

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

A: The company is actively deploying in the robotics field. On one hand, it cooperates with internationally renowned technology companies to develop rotor research and development and capacity building for embodied robot motors, with small batch product deliveries; on the other hand, it strategically layouts key links in the relevant industrial chain through direct investments or participation in industry funds to accelerate industrial synergy and commercialization.

The motor rotor is one of the key components of embodied robots. Compared to traditional magnetic material businesses that mainly deliver materials, the rotor business 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 needs, and large-scale production and profitability contributions will gradually reflect as downstream customers ramp up production.

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

A: The company has established large magnetic material factories in major production areas of heavy rare earths in Ganzhou, Jiangxi; light rare earths in Baotou, Inner Mongolia; and in Ningbo, Zhejiang, a major magnetic material industry cluster location. The company has built a diversified rare earth resource guarantee system, establishing long-term strategic cooperation with major rare earth raw material suppliers including Northern Rare Earth Group and China Rare Earth Group, while steadily advancing upstream procurement. The company continues to implement annual long-term agreements with Northern Rare Earth Group and China Rare Earth Group, expanding procurement varieties including alloy sheets to ensure stable delivery to customers. In 2025, approximately 72% of the company’s procurement came from Northern Rare Earth Group and China Rare Earth Group.

The company is one of the early enterprises in the industry to layout rare earth recycling. It currently holds a 51% stake in Yinhai New Materials. Relying on the group’s manufacturing system, the magnetic mud, scraps, and other recyclable materials generated during production at various factories can be stably supplied to Yinhai New Materials for processing, meeting its production needs and providing strong support for the company’s raw material supply. In 2025, the company accumulated 3,681 tons of rare earth raw materials recycled.

Yinhai New Materials has achieved operational income and profit contribution. In 2025, it achieved operating revenue of 195 million yuan and net profit of 50.5 million yuan(, excluding adjustments related to acquisition price allocations). Yinhai New Materials has passed ISO 14021 certification, and its main products have obtained 100% international standard recyclable component certification.

Q: What is the company’s capacity planning?

A: In February 2026, the company completed the asset transfer and capital increase of its wholly-owned subsidiary JINLI Ganzhou New Materials, based on the assets, debts, and employees of the Ganzhou production base transferred as of January 1, 2026. This transfer and capital increase mark the company’s successful transformation from a single production base in Ganzhou into a group structure with the parent company as the controlling platform and multiple production bases operating collaboratively.

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

In January 2025, the company proposed to invest in and build the Baotou Phase III “Annual Production of 20k Tons of High-Performance Rare Earth Permanent Magnet Materials Green Intelligent Manufacturing Project,” which officially started construction within the year. Some main engineering projects have passed acceptance, and capacity will be gradually released in batches. It is expected that by the end of 2027, the company’s magnetic material capacity could reach 60k tons per year.

JINLIYONGCI (300748) main business: R&D, production, and sales of high-performance neodymium-iron-boron permanent magnet materials, magnetic components, embodied robot motor rotors, and comprehensive rare earth recycling.

JINLIYONGCI’s 2025 annual report shows that the company’s main revenue for the year was 40k yuan, up 14.11% year-on-year; net profit attributable to the parent was 706 million yuan, up 142.44%; net profit after deducting non-recurring gains and losses was 620 million yuan, up 264.0%; in the fourth quarter of 2025, the company’s single-quarter main revenue was 38k yuan, up 34.04% year-on-year; net profit attributable to the parent was 190 million yuan, up 101.94%; net profit after deducting non-recurring gains and losses was 190 million yuan, up 134.08%; debt ratio was 49.87%, investment income was 8.4491 million yuan, financial expenses were -12.2828 million yuan, and gross profit margin was 21.18%.

In the past 90 days, 7 institutions have issued ratings for this stock, with 4 buy ratings and 3 hold ratings; the average target price among institutions over the past 90 days is 39.3.

Below is detailed profit forecast information:

Margin financing and securities lending data show that in the past 3 months, net financing outflows were 162 million yuan, with a decrease in financing balance; net securities lending inflows were 3.1545 million yuan, with an increase in securities lending balance.

The above content is compiled from public information by Securities Star, generated by AI algorithm (Network Credit Calculation Record 310104345710301240019), and does not constitute investment advice.