Zhongke Sanhuan: Multiple institutions including Founder Securities and GF Fund conducted research on our company on April 8.

Securities Star News, on April 8, 2026, Zhongke Sanhuan (000970) announced that Fangzheng Securities’ Xiong Yuhang, GF Fund’s Chen Shaoping, and ICBC Ansheng’s Zhao Borong conducted research on our company.

The specific content is as follows:

Q: What is the company’s product structure in 2025?

A: In 2025, the company’s products are mainly used in the fields of automobiles (including new energy vehicles), consumer electronics, industrial robots, computers, energy-saving home appliances, wind power, and industrial motors.

2. How is the company’s raw material inventory situation?

The company has strengthened centralized procurement management of raw materials and dynamically adjusted inventories based on actual conditions. Currently, there is a 1-2 month inventory of rare earth raw materials.

3. How does the company price its products? Can rising raw material prices be passed on to downstream?

The company considers raw material prices when pricing products and comprehensively considers product characteristics and market competition.

4. What is the usage of heavy rare earth elements such as dysprosium and terbium in the company’s products?

The company’s products are widely used in high-end applications such as automobiles, which often require adding heavy rare earth elements like dysprosium and terbium. Currently, the company has widely adopted heavy rare earth reduction technologies such as grain boundary diffusion to effectively reduce the usage of heavy rare earths.

5. Does the company have plans to expand production in the future?

The company’s capacity expansion plans are always arranged based on order situations and market demand, and will not blindly expand production.

Zhongke Sanhuan (000970) main business: Research, development, production, and sales of rare earth permanent magnets, new magnetic materials, and their application products.

Zhongke Sanhuan’s 2025 annual report shows that the company’s main business revenue was 6.64B yuan, a decrease of 1.63% year-on-year; net profit attributable to the parent was 91.1386 million yuan, an increase of 660.5% year-on-year; non-recurring net profit was 60.6065 million yuan, an increase of 451.03% year-on-year; in the fourth quarter of 2025, the company’s single-quarter main business revenue was 1.79B yuan, an increase of 1.23% year-on-year; single-quarter net profit attributable to the parent was 989.5k yuan, a decrease of 98.17%; single-quarter non-recurring net profit was -3.0218 million yuan, a decrease of 106.74%; debt ratio was 27.2%, investment income was 6.4059 million yuan, financial expenses were -989.5k yuan, and gross profit margin was 10.78%.

In the past 90 days, this stock received ratings from 1 institution, with a buy rating from 1; over the past 90 days, the average target price from institutions was 19.9.

Below is detailed profit forecast information:

Margin financing and securities lending data show that in the past 3 months, net financing outflow was 111 million yuan, with a decrease in financing balance; net securities lending outflow was 143.9k yuan, with a decrease in securities lending balance.

The above content is compiled from public information by Securities Star, generated by AI algorithm (Wangxin Suanbei 310104345710301240019), and does not constitute investment advice.