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JL Mag Rare-Earth Co Ltd Class A 300748

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Stock XSHE Rating as of
CNY 14.12 +0.13 (0.93%)
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Company Report

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Prominent High-Performance REPMs Leader JL Mag Riding on Vehicle Electrification Trend

Vincent Sun

JL Mag Rare-Earth is the world’s largest producer of high-performance rare earth permanent magnets, or REPMs, according to Frost & Sullivan. The company started producing high-performance NdFeB PMs used for wind turbines in 2010; for energy-saving variable-frequency air-conditioners, or VFACs, in 2011; and for new energy vehicles, or NEVs, in 2012. Its major customers included all of the top 10 players in the global NEV sector by sales volume, four of the top five players in the global wind power sector by newly added installed capacity, and the top two household air-conditioner producers by production volume in China.

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Price vs Fair Value

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300748 is trading at a 622% premium.
Price
CNY 13.99
Fair Value
CNY 1.00
Uncertainty
High
1-Star Price
CNY 56.40
5-Star Price
CNY 9.90
Economic Moat
Jyyyqm
Capital Allocation
Blmfgvhxh

Bulls Say, Bears Say

Bulls

Benefiting from China’s significant increase in NEV sales, JL Mag would record strong demand from leading NEV manufacturers and fast revenue growth.

Bears

Rare earths account for over 70% of JL Mag’s cost of sales and the company has less control on rare earth prices. A shortage in rare earth supply may drive up prices and negatively affect profitability.

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Trading Information

Previous Close Price
CNY 13.99
Day Range
CNY 13.92–14.25
52-Week Range
CNY 12.89–20.81
Bid/Ask
CNY 14.12 / CNY 14.13
Market Cap
CNY 18.99 Bil
Volume/Avg
5.7 Mil / 16.3 Mil

Key Statistics

Price/Earnings (Normalized)
46.42
Price/Sales
2.80
Dividend Yield (Trailing)
1.86%
Dividend Yield (Forward)
1.86%
Total Yield
1.86%

Company Profile

JL Mag Rare-Earth, or JL Mag, is a leading global producer of high-performance rare earth permanent magnets, or REPMs. JL Mag focuses on the production and sale of NdFeB PMs, the most widely used type of REPMs, mainly made from an alloy of neodymium (Nd), iron (Fe) and boron (B). The company is ranked first in the world by high-performance REPMs, according to Frost & Sullivan. JL Mag is also ranked first in the global grain boundary diffusion, or GBD, REPMs market. Its products have a wide array of applications, mainly in new energy vehicles, or NEVs, automotive parts, wind turbine generators, energy-saving variable-frequency air-conditioners, or VFACs.
Sector
Industrials
Industry
Metal Fabrication
Stock Style Box
Mid Growth
Total Number of Employees
5,461
Website
https://www.jlmag.com.cn

Competitors

Valuation

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Metric
300748
01211
002466
Price/Earnings (Normalized)
 46.4220.557.81
Price/Book Value
 2.644.071.15
Price/Sales
 2.800.961.74
Price/Cash Flow
 37.953.542.63
Price/Earnings
300748
01211
002466

Financial Strength

Metric
300748
01211
002466
Quick Ratio
 1.670.382.27
Current Ratio
 2.420.663.25
Interest Coverage
 12.3917.6740.75
Quick Ratio
300748
01211
002466

Profitability

Metric
300748
01211
002466
Return on Assets (Normalized)
 3.43%4.59%−2.13%
Return on Equity (Normalized)
 5.62%22.14%−3.08%
Return on Invested Capital (Normalized)
 4.54%15.87%−2.15%
Return on Assets
300748
01211
002466
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