Metals News
Jinli permanent magnet: revenue increased by 31.61% in 2019 net profit was 157 million yuan
translation
10:07AM
Mar 26,2020
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM3, March 26: on March 23, Jiangxi Jinli permanent Magnet Technology Co., Ltd. released the 2019 annual report. Last year, the company realized operating income of 1.697 billion yuan, an increase of 31.61% compared with the same period last year; net profit attributable to shareholders of listed companies was 157 million yuan, an increase of 6.58% over the same period last year; and basic income per share was 0.38 yuan, down 2.56% from the same period last year.

Jin Li permanent magnet said that thanks to the growth of demand in the domestic wind power industry and the growth of the company's overseas wind power business, the company's revenue in the wind power sector reached 855 million yuan, a sharp increase of 121.40% over the same period last year. The company's position as a leading supplier of wind magnetic steel has been further consolidated.

In addition, the company's sales in the field of energy-saving frequency conversion air conditioning also continue to grow. In 2019, Jinli permanent magnet in the field of energy-saving frequency conversion air conditioning revenue of 422 million yuan, an increase of 13.68% over the same period last year, in the global energy-saving frequency conversion air conditioning market share is in a leading position.

The company is the world's leading supplier of magnetic steel in the field of wind power applications, and is a leading supplier in the field of domestic new energy vehicles, energy-saving frequency conversion air conditioning, with strong market competitiveness.

It is reported that Jinli permanent magnet has entered the supply chain of a number of leading companies in the global new energy vehicle industry, laying a solid foundation for the further expansion of the market in this field. While maintaining friendly cooperation with Bosch Group for many years, Jinli permanent Magnet has become a supplier of rare earth permanent magnet materials for the MEB pure electric platform project of Volkswagen Group, as well as a designated supplier of rare earth permanent magnet materials for the BEV3 global electric vehicle platform of General Motors. The value of concern is that the company achieved export sales revenue of 281 million yuan in 2019, an increase of 58.65 percent in export business over the same period last year.

During the 2019 reporting period, Jinli permanent Magnet has begun to deploy 3C business and is actively exploring the 3C market.

At present, Jinli permanent Magnet has signed the 2020 "Cooperation Agreement" on the basis of fulfilling the 2019 "Cooperation Agreement" with Nanfang rare Earth International Trading Co., Ltd., a subsidiary of Ganzhou rare Earth Group. At present, the company has 10000 tons of sintered NdFeB blank production capacity. Jinli permanent magnet said the move will ensure a long-term stable supply of rare earth raw materials, especially heavy rare earths.

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