This article only represents the author's own views.
It may seem counterintuitive at first — a company’s profitability rising in tandem with the price of its raw materials. Yet in the case of JL Mag Rare-Earth Co. Ltd. (6680.HK; 300748.SZ), that’s exactly what is happening.
In a brief announcement last Thursday, the world’s leading producer of rare earth magnetic materials — widely used in new energy vehicles, wind turbines, and certain air conditioners — said its first-quarter profit rose 50% to 60% year-on-year. Even more strikingly, its net profit after deducting non-recurring items like government grants more than quadrupled, suggesting a strong rebound in its core operations.
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