JL MAG Rare-Earth Co., Ltd. Class H ( (HK:6680) ) has issued an announcement.
JL MAG Rare-Earth Co., Ltd. has announced preliminary financial results for 2024, indicating a significant decrease in net profits compared to the previous year. Despite facing challenges such as a decrease in rare earth raw material prices and increased competition, the company managed to achieve record-high production and sales volumes for high-performance magnetic materials, with a capacity utilization rate exceeding 90%. The company’s operations remained stable with a net cash flow from operating activities estimated at approximately RMB420 million. However, increased costs related to expansions in Ningbo and Baotou and changes in raw material pricing impacted the net profit.
More about JL MAG Rare-Earth Co., Ltd. Class H
JL MAG Rare-Earth Co., Ltd. is a Chinese company specializing in the production and sale of rare-earth materials, with a focus on high-performance magnetic materials. The company operates in the rare-earth industry, which involves the extraction and processing of rare-earth elements used in various high-tech applications.
YTD Price Performance: 11.52%
Average Trading Volume: 14,822,162
Technical Sentiment Consensus Rating: Sell
Current Market Cap: HK$26.14B
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