HK Stock Market Move | Rare-Earth (06680) stock surged over 7% in the afternoon. The company plans to release its financial performance on the 19th of this month, expecting a maximum growth in mid-term net profit of up to 180%.

In the afternoon, Jl Mag Rare-Earth (06680) surged over 7%, rising by 6.1% to 19.99 Hong Kong dollars as of the time of writing, with a trading volume of 383 million Hong Kong dollars. On the news front, Jl Mag Rare-Earth is planning to hold a board meeting on August 19 to approve its interim performance. The company previously released a profit forecast, expecting to achieve an operating income of about 3.5 billion yuan in the first half of 2025, a year-on-year increase of 4% to 5%; the net profit attributable to the shareholders of the listed company is expected to be 300 million to 335 million yuan, a year-on-year increase of 151% to 180%. Western pointed out that traditional downstream demand is resilient, and emerging demands such as Siasun Robot & Automation are also emerging, indicating potential future growth for the company. In addition, in April, China implemented export controls on medium and heavy rare earths, covering upstream oxides to downstream magnetic materials, strengthening policy controls and re-evaluating the value of rare earth strategic metals. Furthermore, Jl Mag Rare-Earth announced the completion of a $117.5 million convertible bond issue. According to a previous announcement, the net proceeds of this issue amount to $115 million, with 9% intended for debt repayment; 66% to repurchase H shares; 22% for general operating funds; and 3% for the issuer's operating expenses. Jl Mag Rare-Earth disclosed that as of July 31, 2025, the company has not yet implemented any share buybacks.