Rare-earth permanent magnet maker JL Mag Rare-Earth Co. Ltd. (6680.HK; 300748.SZ) said on Tuesday it expects to report a net profit of 735 million yuan ($110 million) to 800 million yuan for the first nine months of 2026, up 42.59% to 55.20% year-on-year. Excluding non-recurring items, its net profit for the period ranged between 659 million yuan and 724 million yuan, up 53.22% to 68.33%.
The company said its revenue rose about 40% year-on-year during the nine-month period. Revenue from its NEV and automotive parts business also grew about 40%, while revenue from its robots and industrial servo motors business roughly doubled. It has begun small-batch deliveries of embodied robot motor rotors.
In the third quarter alone, the company expects to report a net profit of 273 million yuan to 338 million yuan, up 29.58% to 60.45% year-on-year. Excluding non-recurring items, its profit ranged between 260 million yuan and 325 million yuan, up 32.83% to 65.97%.
JL Mag’s Hong Kong-listed stock opened higher on Wednesday and was trading at HK$14.65 at the midday break, up 0.69%. The stock is down 20.5% this year.
By Lee Shih Ta
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