Nomura initiates coverage of Jinli Permanent Magnet (06680.HK) with a Buy rating and HK$27 PT. Nomura says Jinli is a global leader in rare-earth permanent-magnet materials and the largest NdFeB producer, forecast to account for c.10% of global rare-earth magnet shipments by 2025. High-end rare-earth magnets are widely used in EVs, wind turbines and appliances; Jinli’s penetration across major downstream markets underpins a projected 12% volume CAGR for 2025–28. Nomura identifies humanoid robots

Nomura initiates coverage of Jinli Permanent Magnet (06680.HK) with a Buy rating and HK$27 PT. Nomura says Jinli is a global leader in rare-earth permanent-magnet materials and the largest NdFeB producer, forecast to account for c.10% of global rare-earth magnet shipments by 2025. High-end rare-earth magnets are widely used in EVs, wind turbines and appliances; Jinli’s penetration across major downstream markets underpins a projected 12% volume CAGR for 2025–28. Nomura identifies humanoid robots as an emerging demand driver, estimating 3–4kg of rare-earth magnets per robot versus 2.0–2.5kg per EV, and says the company’s long-term supply relationships with Tesla and other leading EV OEMs position it to enter the humanoid-robot supply chain.