JL Mag Rare-Earth Co Ltd Class A

300748: XSHE (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	¥5.20	Nvcxgj	Kgjbzgn

JL Mag Earnings: Profit Slips as Margins Remain Under Pressure

Vincent Sun

Aug 29, 2024

JL Mag's second-quarter results disappointed, with first-half revenue and net profit accounting for 40% and 23% of our previous full-year forecasts, respectively. Extended price drops in various rare-earth materials during the quarter raised price pressure for the company’s rare-earth magnet products, leading to gross margin trending down another 3 percentage points from last quarter.

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