In 2021, 2022, 2023, and JanuaryJune referred to as the "reporting period", more than 95% of Tianhe Magnetic Materials' revenue came from sintered NdFeB products, and the revenue share of sintered SmCo was very low.
Sintered NdFeB is made by powder metallurgy process. NdFeB powder is oriented in a magnetic field and then pressed into shape. It is then sintered in an inert gas or vacuum to achieve densification, and then subjected to aging heat treatment, machining and surface treatment. Sintered NdFeB has high orientation and comprehensive magnetic properties, and its production process is mature and the cost is moderate. Its current output accounts for more than 90% of all rare earth permanent magnet materials.
The application direction of highperformance rare earth permanent hong kong phone number list s magnet materials is mainly in the field of motor products. In 2023, the field with the largest demand for highperformance sintered NdFeB in the world will be the automotive field, mainly permanent magnet motors in new energy vehicles, EPS systems and micromotors in traditional vehicles, etc., accounting for a total of about 52%; followed by wind power, accounting for about 8%; it also includes energysaving elevators, 3C consumer electronics, etc.
02
The industry is highly competitive, and the gross profit margin of the main business is declining year by year
During the reporting period, Tianhe Magnetic Materials' operating income was approximately RMB 1.825 billion, RMB 2.885 billion, RMB 2.651 billion and RMB 1.267 billion, respectively, and its net profit was approximately RMB 143 million, RMB 223 million, RMB 169 million and RMB 66 million, respectively. The company's performance has fluctuated to a certain extent.