An investor asked on the investor interaction platform: As a leader in the domestic copper processing industry, what applications or products does the company currently have in the high-speed copper cable connection field? What are the future plans? Jintian Co., Ltd. responded on the investor interaction platform on May 20, The company has a solid customer base and technical reserves in the high-speed copper cable connection field. The company's high-conductivity precision copper busbar products have entered the supply chain system of industry leaders in high-speed cable adapter components, IGBT, and other fields. Meanwhile, the company is actively laying out high-speed connection copper cables, developing new-type high-conductivity, low-impedance copper wires to meet the demand for connection cables with next-generation 800G transmission rates. The company will closely monitor and follow the market demand in the high-speed copper cable connection field. For other specific related information, please continue to follow the periodic reports.
When asked "Are the company's products used in drones and low-altitude aircraft?" Jintian Co., Ltd. responded on the investor interaction platform on May 20, The company's products are gradually achieving deeper application in scenarios such as the low-altitude economy, rail transit, and marine engineering equipment. Among them, the high-precision easy-to-cut copper billet developed by the company, with good cutting performance and smooth processing surfaces, has been applied to the bearing components of drones. The company will closely monitor and follow the market demand in the low-altitude flight field, further improve the product series, and enhance the competitive advantage of the products. For other specific related information, please continue to follow the periodic reports.
Jintian Co., Ltd. announced on the evening of May 6 that in April 2025, the company repurchased a total of 5,932,400 shares through centralized bidding transactions, accounting for 0.40% of the company's current total share capital.
Jintian Co., Ltd. stated on the investor interaction platform on April 22, The company's main products are copper and copper alloy materials, rare earth permanent magnet materials, The company always attaches importance to R&D innovation, focusing on the material needs of emerging cutting-edge technology fields, and has successfully developed a batch of high-end copper-based advanced materials with independent intellectual property rights, actively promoting and completing the technical reserves of graphene-copper composite materials, ceramic copper clad laminates (CCL), and other cutting-edge technologies. Meanwhile, the company has started the R&D and project reserve work of some alternative materials. For specific information, please continue to follow the periodic reports.
Jintian Co., Ltd. previously disclosed the Q1 2025 report, showing that in Q1 this year, the company achieved a total operating revenue of 27.285 billion yuan, up 9.89% YoY; net profit attributable to the parent company was 151 million yuan, up 38.55% YoY.
Regarding the reasons for the increase in net profit, Jintian Co., Ltd. stated: It is mainly due to the upgrade of the company's product customers and the continuous optimization of technical management.
Jintian Co., Ltd. disclosed its 2024 annual report on April 15, showing that in 2024, the company achieved a total operating revenue of RMB 124.161 billion, up 12.36% YoY; net profit attributable to shareholders of the listed company was RMB 462 million, down 12.29% YoY; and net profit excluding non-recurring gains and losses was RMB 339 million, down 10.14% YoY.
In its 2024 annual report, Jintian Co., Ltd. introduced that in 2024, the company maintained its strategic focus, fully promoted the construction of new capacity projects, actively explored domestic and overseas markets, continuously deepened customer cooperation and product applications in high-end industries and emerging fields, and solidly and effectively advanced various operational management tasks. During the reporting period, the company achieved a main business income of RMB 112.990 billion, up 11.75% YoY. In 2024, the total production of copper and copper alloy materials was 1.9162 million mt, and the total sales volume was 1.8144 million mt, with the leading scale advantage continuously consolidated.
Jintian Co., Ltd. also announced its 2025 business plan in its 2024 annual report: In 2025, the company will focus on the requirements of high-quality development, guided by the strategic goal of becoming a "world-class copper products and advanced materials base," and formulate targeted segmented strategic goals based on changes in market demand and the company's actual situation. From an international perspective and with international concepts, the company will introduce advanced technologies, enhance organizational capabilities, comprehensively improve management levels in procurement, production, sales, etc., strive to build a modern industrial system, and steadily advance towards the company's strategic goals. Meanwhile, the company has long adhered to an international strategic layout, serving global customers, leveraging high-quality global resources, and promoting leadership in products, talents, management, and services to provide customers with professional solutions and services. The company will continue to adhere to scientific and technological innovation as the leading force, accelerate the realization of high-level self-reliance and self-improvement in science and technology, accelerate the development of new quality productive forces, open up new areas and tracks for development, cultivate new growth drivers, enhance new competitive advantages, continuously deepen its presence in the NEV and chip semiconductor industries, and consolidate its industry influence; rapidly expand into the AI heat dissipation industry, achieve large-scale mass production, and create growth engines; focus on the R&D of robot products to form future competitiveness; and continuously promote the innovation of the company's low-carbon recycled products to build a low-carbon core competitiveness.
Guosen Securities' research report commenting on Jintian Co., Ltd. showed that the unit gross profit of copper products increased. In 2024, with the rebound of the copper processing industry from the bottom and the company's proactive adjustments to its product and customer structures, the gross profit of copper products improved. In 2024, the gross profit of copper busbars was RMB 551/mt, up RMB 80/mt YoY; the gross profit of other copper products was RMB 2,273/mt, up RMB 287/mt YoY. Since hitting bottom in 2022, the company's gross profit of copper products has rebounded for two consecutive years. Affected by market factors, the company's profitability from rare earth permanent magnet products declined. In 2,024, the unit gross profit of rare earth permanent magnet products was 21,000 yuan/mt, down 20,000 yuan/mt YoY, and significantly lower than the average of 70,000 yuan/mt since 2017. The company gradually reduced the proportion of low-margin products: in 2,024, the company's copper product sales reached 1.814 million mt, down 41,000 mt YoY. Among them, sales of low-margin copper bars and strips decreased by 60,000 mt, while sales of other copper products increased by 20,000 mt. In terms of rare earth permanent magnet business, with the commissioning of the 4,000-ton project in Baotou, the company's sales of rare earth permanent magnet materials reached 5,134 mt in 2,024, up 49% YoY. The profitability of magnetic wire products grew rapidly. In recent years, the company's flat magnetic wire business has grown rapidly, with a capacity of 60,000 mt for new energy flat magnetic wires. The subsidiary Jintian Electromagnetic Technology achieved a net profit of 22.18 million yuan in 2024H1 and 54.69 million yuan in 2024H2. Another magnetic wire producer, Jintian New Materials, achieved a net profit of 15.64 million yuan in 2024H1 and 37.01 million yuan in 2024H2. Investment suggestion: The company has rapidly expanded in the past few years, establishing a scale advantage. In the future, it will further improve its product and customer mix, and further deploy capacity in Southeast Asia, fully benefiting from the incremental demand for copper semis and rare earth permanent magnet materials in the new energy market. We maintain an "Outperform" rating. Risk warnings: Risks of volatile copper prices and intensified market competition.
