HK Stock Market Move | Jl Mag Rare-Earth (06680) rose by more than 3%. The company remains optimistic about the downstream demand for new energy vehicles, variable frequency air conditioners, etc. in 2025.

Jl Mag Rare-Earth (06680) rose more than 3%, as of the time of writing, it rose 3.34% to HK$8.04, with a turnover of HK$99.293 million. On the news front, recently, Jl Mag Rare-Earth stated during institutional research that in the first three quarters of 2024, the company actively increased its market share based on sufficient orders on hand. During the reporting period, the company's capacity utilization rate exceeded 90%, with a year-on-year increase of about 40% in sales volume of high-performance magnetic materials, achieving an operating income of 5.014 billion yuan, which is basically flat compared to the same period last year. Currently, rare earth prices are in a lower range compared to the past and there is some fluctuation. The relatively stable rare earth prices are beneficial for the development of the rare earth permanent magnet material industry and also for the company's business performance. Looking ahead to 2025, combined with favorable policy support and continuously improving market penetration, the company holds an optimistic attitude towards downstream demand for new energy vehicles, variable frequency air conditioners, and other sectors. In addition, humanoid Siasun Robot & Automation is one of the important demand growth points for high-performance neodymium iron boron magnetic materials in the future. The company is following the trend of the times and actively cooperating with world-renowned customers in the research and development of magnetic components for humanoid Siasun Robot & Automation, with small batch deliveries underway, but the current impact on the company's revenue and profitability is minimal.