作为稀土永磁龙头，自2018年上市以来金力永磁的业绩一直保持快速增长。对于2023年业绩同比出现下滑，金力永磁分析，去年第四季度，由于计提员工年终奖金、加大研发投入、宁波基地投产前的期间费用增加等因素的综合影响，使得第四季度利润水平低于前三季度均值水平。财务数据显示，2023年Q4公司实现营收16.37亿元，同比减少16.1%，同期归母净利润为6942.74万元，同比增长335.17%。① Jinli Permanent Magnet's performance has maintained rapid growth since its launch in 2018. Last year, the company's revenue and net profit both declined for the first time; ② The company's revenue in the NEV and auto parts sector reached 3.303 billion yuan in 2023, with a global market share of about 28.49%; ③ Last year, the company's total output and total sales of high-performance rare earth permanent magnet materials reached the highest level in the same period in history, but the increase in production did not increase profits.
Financial Services Association, March 28 (Reporter Wang Bin) Due to factors such as price fluctuations in rare earth raw materials and increased competition in the industry, the revenue and net profit of rare earth permanent magnet supplier Jinli Permanent Magnet (300748.SZ) in 2023 both declined for the first time since its launch.
This evening, Jinli Permanent Magnet released its 2023 financial report. The company achieved revenue of 6.688 billion yuan, a year-on-year decrease of 6.66%; net profit to mother was 564 million yuan, a year-on-year decrease of 19.78%. It is worth noting that the company's net cash flow from operating activities in 2023 was 1,518 billion yuan, an increase of 389.41% over the same period last year, mainly due to increased sales repayment efforts during the reporting period.
As a rare earth permanent magnet leader, Jinli Permanent Magnet's performance has maintained rapid growth since its launch in 2018. Regarding the year-on-year decline in 2023 performance, Jinli Permanent Magnet analyzed that in the fourth quarter of last year, the profit level for the fourth quarter was lower than the average level of the previous three quarters due to the combined effects of factors such as accruing year-end bonuses for employees, increased investment in R&D, and increased expenses for the period before the Ningbo base was put into operation. According to financial data, in 2023, the company achieved revenue of 1,637 billion yuan, a year-on-year decrease of 16.1%. Net profit to mother during the same period was 694.274 million yuan, an increase of 335.17% over the same period.
According to the annual report, Jinli permanent magnet products are widely used in fields such as new energy vehicles and auto parts, energy-saving inverter air conditioners, wind power generation, 3C, robots and industrial servo motors, energy-saving elevators, rail transit, etc. By industry, in 2023, the company's revenue in the NEV and auto parts sector reached 3.303 billion yuan, an increase of 14.33% over the same period last year. The company's sales volume of magnetic steel products for NEV drive motors can be equipped with about 3.9 million NEV passenger vehicles. According to CleanTechnica's 2023 global NEV sales volume of 13.6893 million vehicles, the company's global market share was about 28.49%, an increase of 0.49 percentage points over the previous year.
At the same time, the company's revenue in the field of energy-saving inverter air conditioning reached 1,324 million yuan, revenue in the field of wind power generation was 585 million yuan, and revenue in the field of robots and industrial servo motors was about 217 million yuan.
By region, in 2023, Jinli Permanent Magnet's domestic and international revenue “disappeared”, but the domestic market is still its main source of revenue. Specifically, the company's domestic sales revenue last year was 5.439 billion yuan, a year-on-year decrease of 14.3%; overseas sales revenue was 1,249 billion yuan, an increase of 52.57% over the previous year.
It is worth mentioning that the company's total production and sales volume of high-performance rare earth permanent magnet materials reached the highest level in the same period in history last year, but due to factors such as increased supply and insufficient demand, the company did not increase profits. The annual report shows that in 2023, the company's total output of high-performance rare earth permanent magnet materials was 15,000 tons, an increase of 18.52% over the same period last year; the total sales volume of the company's high-performance rare earth permanent magnet materials was 151,000 tons, an increase of 25.6% over the same period last year.
According to the annual report, Jinli Permanent Magnet's rough production capacity already has an annual production capacity of 23,000 tons, and the capacity utilization rate for the full year of 2023 will reach more than 90%. Jinli Permanent Magnet said that the Baotou Phase II 12,000 tons/year production capacity project, the Ningbo 3,000 tons/year high-end magnetic material and 100 million component production capacity project, and the Ganzhou high-efficiency and energy-saving motor magnetic material base project are being built according to the plan. The above projects are expected to be gradually put into use in 2024; the company plans to build 40,000 tons of high-performance rare earth permanent magnet materials production capacity and advanced magnetic component production line by 2025.