The total amount of funds to be raised by Jinli permanent Magnet will not exceed 718 million yuan plus new energy vehicles and 3C high-end magnetic materials projects.

SMM: may 25, Jinli permanent magnet disclosed a non-public stock offering plan, the total amount of funds to be raised is not more than 718 million yuan, for the annual production of 3000 tons of new energy vehicles and 3C high-end magnetic materials projects and supplementary liquidity.

Jin Li permanent Magnet has been committed to the research and development, production and sales of high-performance NdFeB permanent magnet materials, and focuses on new energy and energy-saving and environmental protection applications. It is one of the fastest growing companies in high-performance NdFeB permanent magnet materials industry.

The company is located in Ganzhou, Jiangxi Province, the main production place of heavy rare earths, and has established a stable cooperative relationship with local heavy rare earth producers. On the basis of fulfilling the 2019 Cooperation Agreement, South rare Earth International Trading Co., Ltd., a subsidiary of Ganzhou rare Earth Group, signed a 2020 Cooperation Agreement, which can ensure the company's long-term and stable supply of rare earth raw materials, especially heavy rare earths.

In 2019, the company realized operating income of 1.69 billion yuan, an increase of 31.61% over the same period last year, of which export sales income was 280 million yuan, an increase of 58.65% over the same period last year. The net profit attributed to shareholders of listed companies was 156.8802 million yuan, an increase of 6.58% over the same period last year. At the same time, we continue to make efforts to expand in the field of new energy vehicles, the company has entered the supply chain of many leading companies in the global new energy vehicle industry, and has become a leading magnet supplier in the field of new energy vehicles. In 2019, the company became a supplier of rare earth permanent magnet materials for the MEB pure electric platform project of Volkswagen Group, and also became a designated supplier of rare earth permanent magnet materials for the BEV3 global electric vehicle platform of General Motors, which will have a positive impact on the company's future expansion of new energy vehicle market business. The company has long-term friendly cooperation with Bosch Group for many years. The company won the "Best Cooperation Award" of United Automotive Electronics in 2019.

According to the quarterly report for 2020 released by Jinli permanent Magnet, the company's operating income was 413 million yuan, up 15.12% from the same period last year, while the net profit belonging to shareholders of listed companies was 35.76 million yuan, up 35.68% from the same period last year. At present, Jinli permanent Magnet is a magnet supplier of drive motors for new energy vehicles such as United Automotive Electronics Co., Ltd., BYD and other new energy vehicles.

Recently, the state has issued a series of policies to support the high-quality development of the new energy vehicle industry and promote the consumption of new energy vehicles. On April 29, 11 departments, including the National Development and Reform Commission and the Ministry of Science and Technology, issued the Circular on several measures to stabilize and expand Automobile consumption. On April 23, the Ministry of Finance and other departments jointly issued the Circular on improving the Financial subsidy Policy for the Promotion and Application of New Energy Source vehicles. It is stipulated that the subsidy policy for the purchase of new energy vehicles will continue until the end of 2022, slow down the decline and pace of subsidies in 2020, and speed up the settlement of subsidy funds. We will accelerate the promotion and application of new energy vehicles in urban public transport and other fields. The preferential policy of exemption from vehicle purchase tax for new energy vehicles will be extended until the end of 2022.

Jinli permanent Magnet said that with the completion of the project, the company's NdFeB product types and specifications will be more abundant, which can meet the needs of different customers downstream. Multi-level product structure and rich product range and specifications will promote the sustained growth of the company's revenue.

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