JL Mag forecasts big first-half profit increase

6680.HK
300748.SHE

Rare-earth magnetic materials producer JL Mag Rare-Earth Co. Ltd. (6680.HK; 300748.SZ) on Wednesday forecast it will report a net profit for the first half of this year of 400 million yuan ($58.9 million) to 460 million yuan, up 31.17% to 50.84% year-over-year. Excluding non-recurring gains and losses, its profit is expected to range from 368 million yuan to 428 million yuan, up 57.26% to 82.90%.

For the second quarter alone, the company expects its net profit to range from 207 million yuan to 267 million yuan, up 43.48% to 85.02% year-over-year. Excluding non-recurring gains and losses, its net profit for the three-month period is expected to range from 192 million yuan to 252 million yuan, up 50.08% to 96.90%.

The company said it focused on its core REPM business in the first half of 2026, advanced the planned addition of 20,000 tons of new capacity, and expanded into humanoid robot motor rotors. Its overall revenue rose by about 30% year-over-year during the six-month period. Revenue from its new energy vehicles and automotive parts business grew by about 30%, while revenue from robots and industrial servo motors rose by about 90%. The company has also started small-batch deliveries of humanoid robot motor rotor products.

The company’s stock opened higher on Thursday and traded at HK$19.07 by the midday break, up 14.67%. The stock is up about 2% so far this year.

By Lee Shih Ta

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