JL MAG unveils RMB14.64 billion credit pipeline, multi-faceted financing and share mandates ahead of April 2026 AGM

JL MAG Rare-Earth Co., Ltd. has released the agenda for its 28 April 2026 annual general meeting, detailing a broad financing toolkit and minor capital structure changes.

Key financing authorisations • Integrated credit facilities: The parent company and eight subsidiaries plan to seek bank credit lines totalling up to RMB14.64 billion, led by JL MAG’s own quota of RMB5.02 billion. • Guarantees: Within the above framework, the parent proposes guarantees of up to RMB3.55 billion for five units, with the largest single guarantee (RMB1.99 billion) earmarked for JL MAG (Ganzhou) New Materials. • Domestic & overseas debt: The Board is seeking a blanket mandate to issue debt instruments—ranging from super short-term notes to convertible bonds—capped at RMB2.00 billion (or foreign-currency equivalent). • Small-scale rapid financing: The Company requests authorisation to place A-shares of up to RMB300 million (also limited to 20 % of latest year-end net assets) to no more than 35 qualified investors.

Equity-related mandates and capital adjustments • Share issue mandate: Authority to issue up to 10 % of issued A- and/or H-shares (excluding treasury shares) within one year of approval. • Share buy-back mandate: Authority to repurchase up to 10 % of each class of shares during the same period, financed from internal resources. • Registered capital: Reflecting 7.12 million new H-shares from bond conversions and cancellation of 3.67 million repurchased A-shares, registered capital will rise from RMB1.37 billion to RMB1.38 billion and total shares to 1.376 billion. • Board size flexibility: Proposed revision to allow 7–9 directors (currently fixed at nine).

Corporate governance & risk management • Auditor re-appointment: Ernst & Young Hua Ming LLP (domestic) and Ernst & Young (international) nominated for FY 2026. • Directors’ remuneration: Annual allowances for both executive and independent directors to increase from RMB150,000 to RMB200,000. • Liability insurance: Plan to purchase D&O cover with a liability limit up to RMB100 million; annual premium not to exceed RMB0.35 million.

Next steps Shareholders of record on 23 April 2026 can vote at the AGM. Proxy forms must be lodged by 27 April 2026. Approval of the resolutions will arm JL MAG with expanded financial flexibility for credit utilisation, on-shore and offshore debt issuance, quick equity placements and share repurchases, while making incremental adjustments to governance structures and registered capital.