JL Mag Rare-Earth Expects to Log Lower Attributable Net Profit for 2024

MT Newswires Live

2025/01/21

JL Mag Rare-Earth (HKG:6680, SHE:300748) expects to record a net profit attributable to the shareholders between 270.6 million yuan and 326.9 million yuan for 2024, lower than 563.7 million yuan logged for 2023, a Monday Hong Kong bourse filing said.

The company attributed the expected decrease to a year-on-year decline in the price of rare earth raw materials and intense market competition.

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