Jinli permanent magnet accepts institutional research Baotou project is expected to be fully produced in the second quarter

Shanghai Securities News China Securities Network News is in the Hong Kong stock IPO Jinli permanent magnet attracted more institutional attention, on the evening of January 6, the company disclosed the institutional research minutes show that the company's Baotou project 8,000 tons of production capacity will enter the production stage, is expected to gradually reach full production in the second quarter of this year, after reaching production, the company will form 23,000 tons / year production capacity.

Jinli permanent magnet is the industry's leading supplier of permanent magnet materials for new energy vehicles, is Tesla, BYD, United Automotive Electronics and other new energy vehicle drive motor magnet suppliers, SAIC, Weilai, Ideal Automobile are the company's end users, but also Bosch Group for many years of auto parts magnet suppliers. On December 4, 2021, the Company received a "Fixed Point Notice" from nidec Corporation's Automotive Business Unit and became its supplier of rare earth permanent magnet materials. In the field of new energy vehicles and auto parts, the company's product shipments in 2021 can be equipped with about 1.24 million new energy passenger cars, and the operating income in this field increased by about 220% year-on-year.

According to Frost & Sullivan, globally, new energy passenger car sales are expected to grow at a compound annual growth rate of 45.1% from 2020 to 2025, and the consumption of high-performance NdFeB permanent magnet materials in the global new energy automobile industry increased from about 1480 tons in 2015 to about 9760 tons in 2020, with a compound annual growth rate of 45.9%, and is expected to reach about 37510 tons in 2025 and a compound annual growth rate of 30.9% from 2020 to 2025. With the gradual use of the company's new production capacity, the production capacity of grain boundary penetration products will also be gradually increased to meet the rapid growth needs of customers in the field of new energy vehicles. At present, the company has sufficient orders in the field of new energy vehicles.

According to Jinli permanent magnet, the industry's attention to the Baotou "high-performance rare earth permanent magnet material base project" started construction in November 2020, the project has completed the project completion acceptance, the main equipment installation and commissioning completed and successful commissioning, will enter the production stage, is expected to gradually reach full production in the second quarter of this year. After the project reaches production, the company will form a high-performance rare earth permanent magnet material blank production capacity of 23,000 tons / year. In addition, Ningbo's "3,000 tons of high-end magnetic materials and 100 million sets of components per year" project has begun construction, and it is expected to be completed and put into operation in 2023. The rapid expansion of the company's production capacity has laid a solid foundation for the development of the next two years. (Huangpu River)