Product pricing mechanism Gradually improve Golden Permanent Magnet: Rare earth price cooling and stable mid -term performance

Jinli Yongcong (300748) recently disclosed the 2022 mid-term performance forecast. It is expected that net profit will be 441 million yuan to 507 million yuan in the first half of the year, a year-on-year increase of 100%-130%. The agency believes that the price of rare earth is more conducive to the stability of the performance of Jinli permanent magnet.

The price of rare earth is conducive to performance stability

In the field of new energy vehicles and automotive components, the real -time operating income in the first half of Jinli Magnet increased by about 230%compared with the same period of the previous year. In addition, the company's operating income has also increased high in the field of energy -saving inverter air -conditioning, wind power fields, 3C fields, industrial energy -saving motors and other fields. Regarding the reasons for changes in performance, Jin Li Yong Mi said: "In the first half of 2022, the company's management fully seized the market opportunities in the fields of new energy and energy conservation and environmental protection, and the company's operating performance continued to grow steadily."

At present, Jinli Yongcong products are used in many downstream industries such as new energy vehicles and automotive components, permanent magnet air generators, energy -saving variable frequency air conditioners, 3C products, energy -saving elevators, robots and intelligent manufacturing. When formulating the development plan from 2021 to 2025, the company stated that in 2022, it has 23,000 tons of high -performance rare earth permanent magnet material production capacity, and gradually allocate resources and capabilities to build Ganzhou, Baotou, Ningbo production bases; planning to 2025 by 2025 , Build 40,000 tons of high -performance rare earth permanent magnet materials.

Guo Sheng Securities Analyst Wang Qi believes: "With the restoration of the downstream demand after the epidemic, the rare earth quota is difficult to let go of it. It is expected that the price of rare earth raw materials will still be maintained. For magnetic manufacturers, raw materials are ups and downs or cause short -term profit fluctuations. Maintaining the price is more conducive to performance stability. "

The advantages of the rare earth industry are short -term unchanged in the short term

It is worth mentioning that the Minister of Energy and Natural Resources of Turkey said recently that 694 million tons of rare earth element reserves were discovered in Turkey, including 17 different rare earth unique elements, and Turkey will become the second largest state reserves in China after China. Essence

"Affected by the news of 694 million tons of rare earth elements in Turkey, short -term fluctuations in the rare earth sector, but from the overall trend, there was no great impact." On the 6th, Jiangxi said to the reporter of "Public Securities News" that China said that my country It is the only country with a rare earth industry chain. The advantages of the rare earth industry will not change in the short term.

In January of this year, the Ministry of Industry and Information Technology and the Ministry of Natural Resources issued a notice that in 2022, the first batch of rare earth mining and smelting separation control indicators were 100,800 tons and 97,200 tons, respectively, an increase of 20%from the same batch in 2021. In March of this year, the Ministry of Industry and Information Technology requested that related enterprises related to rare earths ensure the stable supply chain, and at the same time promote the improvement of rare earth products pricing mechanisms. The price of rare earth is expected to maintain relatively stable for a long time. CICC believes that the growth rate of indicators in the second half of the year still needs to be observed. It is expected that the short -term supply increase in rare earth is limited, and the tight supply and demand pattern will continue.

"Jinli permanent magnet is the global rare earth permanent magnet leader, the production capacity expansion is promoted in an orderly manner, and the customer expansion is smooth. At present, the company's more than half of the products use crystal penetration technology, and the production cost is effectively reduced." Zhang Lei, an analyst of Zhejiang Shang Securities, believes that the Jinli permanent magnet price adjustment mechanism is adjusted. In improve, when the price of rare earth fluctuations is small, the price transmission is smoother, and the profitability is expected to continue to improve.

Reporter Zhang Yan

- END -