Porda Havas assisted JL Mag Rare-Earth (6680) in the successful listing of the main board of the Hong Kong Stock Exchange
Latest Update:
14 th January, 2022

Jiangxi JL Mag Rare-Earth Co., Ltd. ("Jinli Permanent Magnet", stock code: 6680.HK), a leading manufacturer of high-performance rare earth permanent magnet materials, successfully landed on the main board of The Stock Exchange of Hong Kong Limited today, and was officially listed for trading. The trading unit is 200 H shares.

Jinli Permanent Magnet issued a total of 125,466,000 H shares in this global offering. The portion of the International Offering was slightly over-subscribed, representing approximately 1.57 times the 112,919,200 H Shares initially available for subscription in the International Offering. The portion of the Hong Kong Public Offering was also over-subscribed, representing approximately 2.39 times the total number of 12,546,800 H shares available for subscription. The company's net proceeds from the global offering are expected to be approximately HK$4.045 billion (after deducting underwriting fees, commissions and estimated expenses payable for the global offering), which are planned to be used for the construction of the Ningbo production base, potential acquisitions to expand the global industrial chain layout, Great R&D efforts to develop more core technologies, repay the company's Baotou production base project loan, and use it for working capital and general corporate purposes.

Mr. Cai Baogui, Chairman, Executive Director and General Manager of Jiangxi JL Mag Rare-Earth Co., Ltd., said: "With Jinli Permanent Magnet officially landing in the Hong Kong capital market, the company has become the first rare earth permanent magnet material in the Hong Kong stock market, and it is also the first rare earth permanent magnet material in China. The only company in the field of permanent magnet materials that has achieved "A+H" dual listing. This is an important milestone in the development of Jinli Permanent Magnet. We sincerely thank all investors for their support and trust in the company's development path. Looking forward to the future, Jinli Permanent Magnet will Fully grasp the strategic opportunity period for the upward development of the industry, continue to provide the market with high-performance rare earth permanent magnet materials, help China and around the world to achieve the great cause of carbon peaking and carbon neutrality, and realize the vision of "creating a better life with rare earth" , and continue to create greater value for shareholders.”

About Jiangxi JL Mag Rare-Earth Co., Ltd.

Jiangxi JL Mag Rare-Earth Co., Ltd. (stock code: 6680.HK) is a leading manufacturer of high-performance rare earth permanent magnet materials. According to Frost & Sullivan, the company's output of high-performance rare earth permanent magnet materials in 2020 was 9,612.9 tons, ranking first in the world in terms of output of high-performance rare earth permanent magnet materials. In the same year, the company produced 4,111 tons of high-performance rare earth permanent magnet materials using its proprietary grain boundary infiltration technology, ranking first in the world in the grain boundary infiltration rare earth permanent magnet market, accounting for approximately 21.3% of the market share. Since its establishment, Jinli Permanent Magnet has been focusing on the research and development, production and sales of high-performance NdFeB rare earth permanent magnet materials for global new energy, energy conservation and environmental protection. The company's products are widely used in downstream industries including new energy vehicles and auto parts, permanent magnet wind turbines, energy-saving inverter air conditioners, 3C products, energy-saving elevators, robots and intelligent manufacturing, and have been used in many key downstream areas, such as new Energy vehicles, wind power, household air conditioners, etc., to establish a leading position in the market.

Latest Update:
14 th January, 2022