In September 2020, it has just been listed on the Shenzhen Stock Exchange for two years.EvilcrashbandicootJiangxi Jinli permanent Magnet Technology Co., Ltd., a supplier of rare earth permanent magnet materials, and Tesla, a global new energy star company, became the latter.EvilcrashbandicootA first-class supplier of NdFeB magnets.

According to the purchase agreement at that time, the term of the above supply agreement between Jin Li permanent Magnet and Tesla expired on December 31, 2023. On the question of whether the two sides have renewed their contracts, Cai Baogui, chairman and general manager of Jinli permanent Magnet, did not respond positively at the recent 2023 performance presentation meeting, but he mentioned that "at present, there has been no significant change in the orders and demand of the company's major customers of new energy vehicles." Cai Baogui also said that in view of the specific business of specific customers, it is inconvenient to disclose based on the legal obligation of commercial secrecy.

In the past 2023, the revenue of Jinli permanent magnet was 66.Evilcrashbandicoot8.8 billion yuan, a decrease of 6% compared with the same period last year.Evilcrashbandicoot.66%; the net profit belonging to shareholders of listed companies was 564 million yuan, down 19.78% from the same period last year. Jin Li permanent Magnet said that the company has worked safely through the cycle of sharp rise and fall in rare earth prices in the four years since 2020, overcoming adverse factors such as increased competition in the industry.

Important suppliers in new energy vehicles and other fields respond to "motor de-rarefaction"

Jinli permanent Magnet is a high-tech enterprise integrating R & D, production and sales of high-performance NdFeB permanent magnet materials, magnetic components and rare earth permanent magnet materials. at present, it has become a leading supplier of high-performance rare earth permanent magnet materials in the field of new energy and energy saving and environmental protection. The company's products are used in new energy vehicles and auto parts, energy-saving frequency conversion air conditioners, wind power generation, 3C, robots and industrial servo motors, energy-saving elevators, rail transit and other fields.

According to the performance report, in 2023, the revenue in the field of Jinli permanent magnet new energy vehicles and auto parts was 3.303 billion yuan, an increase of 14.33 percent over the same period last year. The annual sales volume of magnetic steel products for driving motors of new energy vehicles can be assembled with about 3.9 million new energy passenger vehicles. According to the data released by CleanTechnica, the global sales of new energy passenger vehicles will be 13.6893 million in 2023.

Jin Li permanent Magnet mentioned that the company is a leading supplier of magnets for driving motors in the global new energy vehicle industry, and the top 10 new energy vehicle manufacturers in the world have adopted the company's products. In addition, the company is also an important supplier of magnets for traditional auto parts.

In the field of energy-saving frequency conversion air conditioners, eight of the top ten manufacturers of frequency conversion air conditioning compressors in the world are customers of Jinli permanent magnets. In 2023, the company's income in the field of energy-saving frequency conversion air conditioners is 1.324 billion yuan, and the annual sales volume of energy-saving frequency conversion air conditioning magnetic steel products can be assembled with about 54 million frequency conversion air conditioning compressors.

In the field of wind power generation, five of the top ten wind power manufacturers in the world are customers of Jinli permanent Magnet. In 2023, the company earned 585 million yuan in the field of wind power generation, and the sales volume of products in this field can be assembled with the installed capacity of wind turbines about 3.9GW.

In addition, in 2023, the income in the field of Jinli permanent magnet robot and industrial servo motor reached 217 million yuan. The company also distributes 3C, energy-saving elevators, rail transit and other new energy and energy-saving and environmental protection fields, and has become one of the important high-performance magnetic steel suppliers in these fields.

It is worth mentioning that at a Tesla Investor Day held in March last year, Musk announced that Tesla's next generation of permanent magnet motor technology will not use rare earth materials at all and will not lose energy efficiency. At that time, the A-share rare earth plate fell after the news was announced.

Cai Bao-Gui also responded to the "de-rarefaction of motors" at this performance presentation. He said that NdFeB rare earth permanent magnet technology has been in the ascendant stage of large-scale application for nearly 40 years since it was invented in the 1980s.

It emphasizes that high-performance rare earth permanent magnet materials are still one of the core components in the fields of new energy vehicles and automobile parts, energy-saving frequency conversion air conditioners, wind power generation, robots and industrial servo motors, energy-saving elevators, etc., with the advantages of good energy-saving effect, small size, light weight, convenient precise control and so on. "at present, we have not seen the report on the invention of the next generation permanent magnet materials."

Production capacity will be further increased, layout of humanoid robots and other emerging fields

With regard to the company's production capacity and response plan, Cai Baogui said that at present, the company's high-performance NdFeB permanent magnet blanks have an annual production capacity of 23000 tons, and the capacity utilization rate for the whole year of 2023 is more than 90%.

In addition, Baotou Phase II 12000 tons / year production capacity project, Ningbo 3000 tons / year high-end magnetic materials and 100 million sets of components capacity project, Ganzhou high-efficiency and energy-saving motor magnetic material base project is being built as planned, it is expected that 38000 tons / year blank production line will be completed by the end of 2024.

Jinli permanent Magnet plans to build 40000 tons of high-performance rare earth permanent magnet material production capacity and advanced magnetic assembly production line by 2025.

What is noteworthy is that Jinli permanent Magnet is actively embracing the humanoid robot market.

Cai Bao-Gui said that in terms of research and development, the company will continue to invest in R & D projects, consolidate the company's existing technology and optimize formulations, and launch new high-performance magnetic materials and magnetic components products and technologies. Timely response to customers' magnetic product upgrades and humanoid robot magnetic components needs.

In addition, Jin Li permanent Magnet also mentioned that in order to achieve the company's strategic development and meet customers' order needs for magnetic components in areas such as humanoid robots and new energy vehicles, the company plans to invest in the construction of a "new production line with an annual production capacity of 1 million sets / sets of magnetic components in Mexico", which is now in steady progress.

The Mexican project was first announced in 2022. In September of that year, Jinli permanent Magnet announced that it planned to invest in the "Comprehensive Utilization Project of waste Magnetic Steel" through its wholly-owned subsidiary Jinli Hong Kong Science and Technology in Mexico, with a total investment of about 100 million US dollars. The project takes waste magnetic steel as a starting point to build a recycling industry system of "recovery-disassembly-regeneration-remanufacturing". If the production is reached, it will form an annual production capacity of treating 5000 tons of waste magnetic steel and supporting the annual production capacity of 3000 tons of high-end magnetic products.

In October 2023, Jinli permanent Magnet disclosed changes to the Mexican project. It is said that the original "Mexican waste magnetic steel comprehensive utilization project" has been changed to "Mexico new annual production line project of 1 million sets / sets of magnetic components" (hereinafter referred to as "Mexican magnetic assembly project"), and the planned construction period of the project is 3 years.

Jinli Permanent Magnet's move is intended to meet customers 'order needs for magnetic components in humanoid robots, new energy vehicles and other fields, and increase the company's global market share.

The company also analyzed in its previously released performance report that high-performance Nd-Fe-B magnetic steel is a key component of robots and industrial servo motors. With the rapid development of robots and industrial servo motors, this field will become a high-performance Nd-Fe-B magnetic steel in the future. An important growth point for applications.

According to Frost Sullivan's report, the global industrial robot market's consumption of rare earth permanent magnet materials will reach 6,600 tons by 2028, with a compound annual growth rate of 13.5% from 2023 to 2028. At the same time, the global humanoid robot market's consumption of rare earth permanent magnet materials will reach 2,887.5 tons, with a compound annual growth rate of approximately 162.2% from 2023 to 2028.