This article only represents the author's own views.
It may seem counterintuitive, but China’s ambition to keep its dominance in rare earth materials and technology may be what’s hurting the top and bottom lines of JL Mag Rare-Earth Co. Ltd. (6680.HK; 300748.SZ), a leading maker of rare earth magnets.
JL Mag’s preliminary results for 2023, released last week, continued a downward trend established by its interim results for the first six months of the year. Its annual revenue fell by 6.7% to 6.69 billion yuan ($928 million), and its profit fell by an even larger 19.8%, to 563.6 million yuan. That marked a sharp reversal from 2022, when its revenue and profit rose 75.6% and 55.1%, respectively.
您已阅读11%（700字），剩余89%（5398字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。