HK Stock Market Move | Jl Mag Rare-Earth (06680) fell more than 12% at the close, and the company stated that the impact of the magnetic components used by the humanoid robot Siasun Robot & Automation on its performance is minimal at present.

Jl Mag Rare-Earth (06680) fell more than 12% in the closing session, falling 11.3% to HK$12.72 as of the time of publication, with a turnover of HK$170 million. On the news front, Goldman Sachs released a report stating that meaningful applications of humanoid Siasun Robot & Automation may not emerge until 5-10 years from now; the commercialization process of Siasun Robot & Automation technology may be slower than expected by many. Morgan Stanley previously pointed out that while progress is being made rapidly in motion control, achieving practical applications of humanoid Siasun Robot & Automation still requires continuous improvement in algorithms and hardware, but the Chinese humanoid Siasun Robot & Automation industry is showing signs of accelerated development. Jl Mag Rare-Earth recently stated that humanoid Siasun Robot & Automation is one of the important growth points for high-performance neodymium iron boron magnetic materials in the future, and the company is actively cooperating with world-renowned customers in the research and development of magnetic components for humanoid Siasun Robot & Automation, with small batches being delivered sequentially. However, at present, the impact on the company's revenue and profitability is minimal. In addition, the company expects a 42% to 52% year-on-year decrease in net profit in 2024.