Tight supply and demand!Rare earth permanent magnet plate continues high boom, 10 performance high growth list please close

2022-05-05 0 By

Rare earth permanent magnet plate in the A-share market, with the gradual stabilization of the new energy leader “Ning Wang”, based on the hot industry prosperity of the new energy track itself, after continuous valuation digestion, began to return to the capital horizon.As one of the upstream of new energy, rare earth permanent magnet material is driven by the strong demand and tight supply and demand in the downstream, and the secondary market valuation of related listed companies represented by North Rare Earth continues to rise.In fact, in the past, although China has excellent rare earth resources, rare earth reserves and production are the first in the world, and it is the only country with a whole industry chain of “resources – smelting and separation – functional materials – application”.However, due to the lack of planning and disorderly production and other factors, the rapid rise and fall of rare earth prices also let most institutional investors back, rare earth plate prices are more event-driven.However, with the introduction of regulations on rare earth management, purchase and storage, and the expansion of enterprises’ integration and other industrial norms, the supply side of rare earth continues to improve, and its bargaining power has gradually increased.In carbon neutral gradually become the mainstream consensus today, thanks to the implementation of low carbon concept in economic field, based on rare earth itself excellent electrical, optical, magnetic and thermal properties, the application of rare earth downstream end ndfeb material (the third generation of rare earth permanent magnet) started in new energy cars, wind, and emerging areas such as frequency conversion air conditioning lambe,Gradually become the core material of the new era of low carbon and intelligence.According to the data, since the holiday, the market price of the main type of light rare earth represented by praseodymium oxide (raw material for making Ndfeb) has been rising, gradually approaching the all-time high of 128/ ton.According to statistics from the China Rare Earth Industry Association, the overall price of light rare earths has risen from 930,000 yuan/ton after the holiday to 1.1 million yuan/ton at present, a cumulative increase of more than 18%.On the whole, the rare earth permanent magnet concept list shows that the overseas rare earth mineral energy has reached a high level, and there is no clear path to expand production in the short term. Meanwhile, the domestic rare earth industry continues to consolidate and the rare earth mining quota remains restrained (20% growth rate).With the expansion of application demand in new energy vehicles and other emerging fields, the long-term valuation system of rare earth permanent magnet plate may be restructured.Finally, attached is a partial list of high performance growth concepts for exchange and discussion only.North Rare Earth: rolling p/E 48 times, annual forecast net profit growth 498% (median) light rare earth industry leader, has the exclusive mining right of Bayan Obo Mine (35 million tons of rare earth oxide reserves), is the world’s largest supplier of light rare earth;The main business covers rare earth smelting and separation, functional materials and applied products, etc., building core competitiveness in rare earth resources, mining cost, quota and the whole industry chain.Baotou steel shares: 29 times rolling p/e ratio, annual report forecast net profit growth of 650% (median) rare earth mining giant, main business rely on iron and steel products and rare earth concentrate two-wheel driven development, relying on baiyun obo ore itself “rare earth steel” resource characteristic, based on the company and the associated company north of rare earth is the relationship between upstream and downstream, so rare earth concentrate products have exclusive supply characteristics.Sheng He Resources:Rolling p/e ratio 32 times, annual report forecast net profit growth of 248% (median) is one of the rare earth industry leader, main business to production for new energy, new materials and military industry in areas such as rare earth concentrate, rare earth oxides and other products, after deep industry many years, rare earth business has get through from the upstream undressed ore selecting to the downstream processing and application of each link,It also has sources of rare earth minerals overseas.Xiamen Tungsten: rolling p/E ratio of 25 times, annual report forecast net profit growth of 92% (median) one of the six domestic rare earth groups, has a complete industrial chain from rare earth mines to downstream permanent magnet motor;The company, formerly known as Xiamen Aluminum Oxide Plant, is now mainly driven by three modules of “tungsten molybdenum + rare earth + battery materials”, with an annual capacity of 6000 tons of rare earth magnetic materials. Meanwhile, through equity participation in permanent magnet motor industrial park, the company jointly conducts research on the development and application of rare earth resources with domestic and overseas enterprises.Jinli Permanent magnet:The company is a leader in rare earth permanent magnet material industry. Its business focuses on the r&d, production and sales of high-performance Ndfeb magnetic material. Relying on the cost-cutting ability of grain boundary penetration technology, it stands out in the market competition.Customers include Goldwind, BYD and Tesla.Zhongke Third Ring:Rolling p/e ratio of 54 times, annual report forecast net profit growth of 217% (median) ndfeb permanent magnet materials industry leading business engaged in ndfeb rare-earth permanent magnetic material and new magnetic materials research and development, production and sales, products are mainly for sintered ndfeb magnets, bonded ndfeb magnets, etc., with close to 20000 tons/year capacity of permanent magnet materials,It is the main supplier of tesla Model3 permanent magnet synchronous motor.Zhenghai Magnetic material: rolling p/E ratio of 59 times, annual report forecast net profit growth rate of 105% (median) domestic high-end Ndfeb magnetic material leader, master high performance NdFEB process technology, after the completion of the expansion of ndFEB production capacity of 15,000 tons/year;The main business is engaged in the research and marketing of high-performance Ndfeb permanent magnet materials. Based on the main business, through capital operation, the company acquired Shanghai Dajun, and gradually created a dual business development model of permanent magnet materials and motor drive system of bureau new energy vehicles.Beikuang Technology:Rolling p/e ratio of 42 times, annual report forecast net profit growth of 67% (median) permanent magnetic ferrite under-burnt clinker bibcock, main business consists of mining and metallurgy equipment and magnetic material business, leading the domestic multiple magnetic materials industry important standards, always on high performance ferrite magnetic materials in the industry leading position, products are widely used in electronics, automotive and wind power and other fields.The bear:A well-known domestic high-performance sintered Ndfeb magnet manufacturer, business focus on the research and marketing of high-performance sintered NdFEB permanent magnet material, established the green remanufacturing technology system of waste NdFEB magnet, with a total production capacity of 4000 tons of sintered NdFEB blank,Mainly used in the automotive industry, industrial motors and high-end consumer electronics and other important industrial products.Magnetic technology: dragon scroll 31 times earnings, the annual report forecast net profit growth of 97% (value) of domestic main permanent magnetic ferrite production enterprises, one of the main business involves the high-performance permanent magnetic ferrite materials production and sales, in the wet permanent magnetic ferrite magnetic tile manufacturing core technology has with Japan TDK, in areas such as automobile, frequency conversion air conditioning market rapidly occupation.Note: The above information is summarized based on the performance statements and other public information of relevant listed companies. 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