JL Mag Rare-Earth Co Ltd Class A

300748: XSHE (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CNY 9.00	Tthlgq	Zzyqzlzhh

JL Mag Earnings: Revenue and Margin Missed; Pricing Remained Under Pressure

Vincent Sun

Apr 29, 2024

JL Mag reported disappointing first-quarter results with revenue and net profit, both accounting for 16% of our previous full-year forecast, below our expectations. Due to an extended price drop in various rare earth materials during the quarter, hence increasing price pressure for the company’s rare earth magnet products, the gross margin edged down another 4 percentage points sequentially.

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