JL Mag Rare-Earth forecasts strong Q1 profit growth

JL Mag Rare-Earth (SZSE:300748) has released a preliminary announcement projecting a substantial increase in its net profit attributable to shareholders for the period from January 1, 2025, to March 31, 2025. The company expects net profit to range between CNY 152.54 million and CNY 162.71 million, representing a 50% to 60% increase compared to the same period last year. Net profit attributable to shareholders after deduction of non-recurring gains and losses is projected to be between CNY 97.89 million and CNY 108.06 million, indicating a rise of 300% to 340% year-over-year. The company attributes this performance to its proactive market development and expanded production capacity, focusing on new energy and energy conservation sectors, including applications in new energy vehicles, energy-efficient air conditioners, wind power, robotics, and low-altitude aircraft. Revenue for the period is estimated at CNY 1.7 billion, an increase of over 10% from the same period last year.