JL MAG Posts 32.57% Revenue Growth and 51.58% Profit Surge in 1H 2026, Proposes 75% Payout Ratio Dividend

JL MAG Rare-Earth Co., Ltd. (JL MAG) released its unaudited results for the six months ended 30 June 2026.

Revenue and Profitability JL MAG’s revenue rose 32.57% year on year to RMB4.65 billion, driven mainly by gains in the new-energy vehicle and robotics segments. Gross profit expanded 75.73% to RMB1.01 billion, lifting the gross margin to 21.73% from 16.39% a year earlier. Profit attributable to shareholders increased 51.58% to RMB462.24 million, while net operating cash inflow swung to RMB1.21 billion versus an outflow of RMB0.55 billion in 1H 2025.

Segment Highlights • New-energy vehicles and automotive parts revenue climbed 33.04% to RMB2.23 billion. • Robots and industrial servo motors revenue almost doubled to RMB260.81 million, up 96.40%. • Energy-saving variable-frequency air-conditioner revenue reached RMB955.90 million. • Wind-power revenue grew to RMB250.42 million.

Dividend Proposal Since listing in 2018 JL MAG has maintained annual cash dividends. For 1H 2026 the board proposes a cash dividend of RMB2.50 (tax inclusive) per 10 shares, totalling approximately RMB345.49 million and representing a 75% payout ratio. The plan is subject to shareholder approval at the 24 September 2026 EGM.

Capital Management • In July 2026 JL MAG repurchased 2.72 million H shares for about HKD44.31 million at an average HKD16.27 per share; these shares were subsequently cancelled. • On 3 August 2026 the company allotted 9.10 million new H shares to satisfy incentive grants, raising issued H shares to 243.87 million. After the cancellation of repurchased shares, issued H shares stood at 241.14 million.

Financial Position As at 30 June 2026, JL MAG held RMB3.28 billion in cash and bank balances plus RMB1.53 billion in large-amount deposit certificates, maintaining liquidity of RMB4.81 billion. Interest-bearing bank and other borrowings totalled RMB1.88 billion; the debt-to-asset ratio was 51.80%.

R&D and Capacity Expansion R&D spending increased 46.16% to RMB248.23 million, equal to 5.34% of revenue. JL MAG advanced its Baotou Phase III project, aiming to lift annual high-performance NdFeB magnet capacity from the current 40,000 tonnes to 60,000 tonnes by end-2027.

Outlook Management highlights robust demand from new-energy vehicles, robots, and industrial automation, and continues to prioritize group-wide capacity expansion, rare-earth recycling, and smart manufacturing to support long-term growth.