BRIEF: JL Mag profit jumps over 20% in first quarter

JL Mag Rare-Earth Co. Ltd., a producer of rare earth magnetic materials, announced on Wednesday that its first-quarter revenue increased by 16.05% year-on-year, reaching RMB 2.04 billion (approximately USD 299 million), with net profit growing by 20.09% to RMB 193 million. The net profit, excluding non-recurring items, increased by 65.95% to RMB 176 million. After excluding share-based payment expenses, net profit reached RMB 235 million, an increase of 44.57%; the adjusted net profit, excluding non-recurring items, grew by 106.82% to RMB 219 million. Despite facing a decline in new energy vehicle (NEV) sales and fluctuations in NdPr prices, the company has maintained stable growth through technological innovation