关于使用部分暂时闲置募集资金进行现金管理的进展公告 二、公告日前十二个月内公司使用暂时闲置募集资金进行现金管理的情况 证券代码：300224 证券简称：正海磁材 公告编号：2026-008 烟台正海磁性材料股份有限公司 关于使用部分暂时闲置募集资金进行现金管理的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 烟台正海磁性材料股份有限公司（以下简称"公司"）于 2025 年 12 月 15 日 召开的六届董事会第七次会议审议通过了《关于使用部分暂时闲置募集资金进行 现金管理的议案》，同意在确保不影响募集资金投资项目款项支付及募集资金安 全的情况下，使用额度不超过人民币 2 亿元的部分暂时闲置募集资金进行现金管 理，用于购买安全性高、流动性好的投资产品（包括但不限于结构性存款、定期 存款、大额存单等），使用期限自公司董事会审议通过之日起 12 个月内有效，在 上述额度和期限范围内，资金可以滚动使用。详细内容见公司于 2025 年 12 月 15 日在巨潮资讯网（http://www.cninfo.com.cn/）上披露的《关于使用部分暂 时闲置募集资金进 ...

Core Viewpoint - The rare earth concept stocks in the A-share market experienced a significant increase, driven by rising prices of rare earth products, particularly praseodymium oxide and neodymium oxide, which have seen substantial price hikes this year [1][2]. Price Trends - As of February 11, the average price of praseodymium oxide reached 877,000 yuan per ton, with an increase of over 260,000 yuan per ton this year, representing a growth of 43.42% - The average price of neodymium oxide reached 870,000 yuan per ton, with a year-to-date increase of 260,000 yuan per ton, reflecting a growth of 42.62% - The cumulative price increase for praseodymium-neodymium, metallic neodymium, and metallic praseodymium has exceeded 35% this year [1]. Stock Performance - 盛和资源 (Shenghe Resources) saw a price increase of 5.94% with a total market value of 53.5 billion yuan and a year-to-date increase of 41.66% [2] - 金田股份 (Jintian Co.) increased by 3.90%, with a market value of 20.3 billion yuan and a year-to-date increase of 8.61% [2] - 厦门铝业 (Xiamen Tungsten) rose by 3.42%, with a market value of 101.9 billion yuan and a year-to-date increase of 56.28% [2] - 华新环保 (Hua Xin Environmental) increased by 3.36%, with a market value of 4.469 billion yuan and a year-to-date increase of 6.04% [2] - Other notable stocks include 九菱科技 (Jiuling Technology) with a 2.59% increase, 中色股份 (China Nonferrous) with a 2.39% increase, and 中国稀土 (China Rare Earth) with a 2.26% increase [2].

Core Viewpoint - The A-share rare earth permanent magnet sector is experiencing significant growth, driven by rising prices and increasing demand in emerging fields such as humanoid robots and low-altitude economy applications [1][4][12]. Price Trends - Since the beginning of the year, rare earth prices have been on the rise, with the rare earth index reaching 703 points as of February 9, marking a 34.16% increase from early December [9][11]. - Specific product prices have also surged, with praseodymium oxide averaging 877,000 CNY/ton (up 43.42%) and neodymium oxide at 870,000 CNY/ton (up 42.62%) [9][11]. Supply and Demand Dynamics - The current price increase is attributed to multiple factors, including tightened supply, surging demand, and low inventory levels. China's rare earth production capacity is the largest globally, but growth in mining output has slowed [3][11]. - Internationally, geopolitical issues in Myanmar and legal changes in Vietnam have restricted rare earth exports, exacerbating supply constraints [3][11]. - China's policies are increasingly focused on the sustainable development of the rare earth industry, with new regulations set to be implemented in the coming years [3][11]. Emerging Demand Sectors - The demand for rare earths is expected to grow significantly due to advancements in humanoid robotics and the low-altitude economy, particularly electric vertical takeoff and landing (eVTOL) aircraft [4][5][12]. - Projections indicate that by 2035, the demand for neodymium-boron magnets in these sectors could reach 33,000 tons, representing a 5.5% market share, with further growth anticipated by 2040 [5][12]. Company Performance - Among the 26 A-share rare earth permanent magnet stocks, 16 have reported earnings forecasts for 2025, with 15 companies expected to turn losses into profits or report increased earnings [6][14]. - Notable companies include: - Zhongke Sanhuan, with a projected net profit increase of 566.23% to 1.2 billion CNY [14]. - Shenghe Resources, expecting a profit increase of 281.28% to 910 million CNY [14]. - Jingli Permanent Magnet, with a forecasted profit increase of 127% [14]. - The overall profitability of the sector is improving, attracting institutional attention [6][14].

Group 1 - North Mining Technology (600980) is a state-owned enterprise under the State-owned Assets Supervision and Administration Commission, focusing on mining equipment and magnetic materials, with a leading position in the global market for intelligent flotation machines and a 12% share in domestic sintered permanent magnetic ferrite production [1][25][26] - Greenme (002340) is a leader in the recycling of rare metals and new energy materials, with a dual business model of "urban mining + new energy materials," supplying major companies like CATL and BYD [1][27] - Xiamen Tungsten (600549) is a leader in tungsten, molybdenum, and rare earth permanent magnetic materials, with a complete industrial chain from mining to high-end magnetic material production [2][28] Group 2 - Jiyuan Wanfang (000612) is a significant player in aluminum smelting and rare earth permanent magnetic materials, leveraging local resources to form a dual business model of "aluminum + rare earth" [3][29] - Wanlong Magnetic Plastic (603150) is a leader in refrigerator door seals and magnetic materials, producing ferrite magnets for major appliance manufacturers [4][30] - Northern Rare Earth (600111) is the largest rare earth producer globally, controlling over 40% of the world's rare earth oxide production and holding significant pricing power [5][30] Group 3 - Chifeng Gold (600988) is involved in gold mining and rare earth resource development, with a strong position in the domestic rare earth market [6][31] - Zhongmin Resources (002738) is a leader in lithium mining and rare earth resources, with significant overseas rare earth mining rights [7][33] - Galaxy Magnet (300127) specializes in sintered and bonded neodymium-iron-boron magnets, serving major clients like BYD and CATL [8][34] Group 4 - Zhong Rare Metals (600259) focuses on rare earth mining and functional materials, with a strong position in the medium and heavy rare earth sectors [9][35] - Tianhe Magnetic Materials (603072) is a leader in high-end neodymium-iron-boron magnets, supplying major automotive and industrial clients [10][36] - Oriental Zirconium (002167) produces zirconium products and rare earth functional materials, with a focus on the electronics and new energy sectors [11][37] Group 5 - Jinli Permanent Magnet (300748) is a leading producer of rare earth permanent magnetic materials, with a strong presence in the automotive sector [12][38] - Huaxin Environmental (301265) focuses on environmental equipment and rare earth recycling, leveraging a dual business model [13][40] - China Rare Earth (000831) is a key player in rare earth mining and processing, with a focus on high-value applications in new energy and military sectors [14][49]

Core Viewpoint - The company is expected to see a significant increase in net profit for 2025, with projections indicating a year-on-year growth of 235.72% to 311.52%, driven by strong sales in the electric vehicle sector and expansion into new applications like humanoid robots and low-altitude economy [1][2]. Business Performance - The company anticipates a net profit for 2025 to be between 310 million to 380 million yuan, with a non-recurring net profit expected to grow by 363.98% to 480.39% year-on-year [2]. - Product sales are projected to grow by over 20% year-on-year, marking the eighth consecutive year of growth, particularly in energy-saving and electric vehicle sectors, where the number of motor sets sold has increased by over 40% [3]. Financial Situation - As of February 3, 2026, the company's financing balance stood at 577 million yuan, with a financing buy-in amount of 44.57 million yuan on that day, indicating a net outflow of 10.95 million yuan. The financing balance represents a high proportion of the circulating market value over the past year [4]. Project Development - The company received approval for dual-use item export licenses in November 2025, and its production capacity is operating at a high utilization rate, with an existing annual capacity of 30,000 tons. This development is expected to enhance future international business expansion and compliance competitiveness [5].

Core Insights - All 12 listed rare earth companies have reported positive earnings forecasts for 2025, indicating a strong performance outlook for the sector [1][2][3] Group 1: Earnings Forecasts - Northern Rare Earth is expected to achieve a net profit of 2.176-2.356 billion, reflecting an increase of 116.67%-134.60% year-on-year [4][5] - Shenghe Resources anticipates a net profit of 0.790-0.910 billion, with a year-on-year growth of 281.28%-339.20% [4][5] - Jien Mining is projected to report a net profit of 0.660-0.760 billion, representing a growth of 127.00%-161.00% [4][5] - Zhenghai Magnetic Materials expects a net profit of 0.310-0.380 billion, with an increase of 235.72%-311.52% [4][5] - Ningbo Yunsheng forecasts a net profit of 0.280-0.380 billion, indicating a growth of 194.49%-299.67% [4][5] - Yuyuan New Materials anticipates a net profit of 0.255-0.280 billion, with a year-on-year increase of 73.00%-90.00% [4][5] - Longi Magnet Technology expects a net profit of 0.155-0.200 billion, reflecting a growth of 39.57%-80.09% [4][5] - China Rare Earth is projected to turn a profit with a net profit of 0.143-0.185 billion [4][5] - Sanchuan Wisdom anticipates a net profit of 0.128-0.160 billion, with a year-on-year growth of 100.73%-150.91% [4][5] - Zhongxi Rare Metals expects to turn a profit with a net profit of 0.100-0.130 billion [4][5] - China Science and Technology is projected to achieve a net profit of 0.080-0.120 billion, with a significant increase of 566.23%-899.35% [4][5] - China Science Magnetics anticipates a net profit of 0.029-0.035 billion, reflecting a growth of 75.11%-108.32% [4][5]

Core Viewpoint - Zhenghai Magnetic Materials Co., Ltd. has shown significant growth in revenue and profit, with a notable increase in shareholder numbers and changes in institutional holdings, indicating a positive market sentiment towards the company [2]. Group 1: Financial Performance - For the period from January to September 2025, Zhenghai Magnetic achieved a revenue of 4.973 billion yuan, representing a year-on-year growth of 30.54% [2]. - The net profit attributable to shareholders for the same period was 228 million yuan, reflecting a year-on-year increase of 20.46% [2]. Group 2: Shareholder and Institutional Holdings - As of September 30, 2025, the number of shareholders for Zhenghai Magnetic reached 82,600, an increase of 20.95% compared to the previous period [2]. - The average number of circulating shares per shareholder decreased by 7.86% to 11,231 shares [2]. - Notable changes in institutional holdings include Hong Kong Central Clearing Limited becoming the sixth largest shareholder with 7.3992 million shares, an increase of 2.1523 million shares [2]. - New institutional shareholders include the Jiashi Zhongzheng Rare Earth Industry ETF, which holds 5.413 million shares, and Huaxia Double Bonds A, holding 5.2697 million shares [2]. Group 3: Market Activity - On February 3, Zhenghai Magnetic's stock price increased by 3.91%, with a trading volume of 629 million yuan [1]. - The financing buy-in amount for the same day was 44.5706 million yuan, while the financing repayment was 55.5222 million yuan, resulting in a net financing buy of -10.9516 million yuan [1]. - The total balance of margin trading for Zhenghai Magnetic as of February 3 was 578 million yuan, with the financing balance accounting for 3.59% of the circulating market value [1].

Core Viewpoint - Zhenghai Magnetic Materials experienced a decline of 5.92% on January 30, with a trading volume of 1.243 billion yuan, indicating potential market volatility and investor sentiment shifts [1]. Financing Summary - On January 30, Zhenghai Magnetic Materials had a financing buy amount of 104 million yuan and a financing repayment of 132 million yuan, resulting in a net financing outflow of 27.37 million yuan [1]. - The total financing and securities lending balance reached 608 million yuan, with the financing balance accounting for 3.73% of the circulating market value, which is above the 60th percentile of the past year [1]. - In terms of securities lending, 25,700 shares were repaid, while 5,900 shares were sold, with a selling amount of 103,200 yuan, indicating a lower securities lending balance compared to the 40th percentile of the past year [1]. Company Performance - As of September 30, the number of shareholders for Zhenghai Magnetic Materials increased by 20.95% to 82,600, while the average circulating shares per person decreased by 7.86% to 11,231 shares [2]. - For the period from January to September 2025, the company reported a revenue of 4.973 billion yuan, reflecting a year-on-year growth of 30.54%, and a net profit attributable to shareholders of 228 million yuan, up 20.46% year-on-year [2]. - Since its A-share listing, the company has distributed a total of 1.28 billion yuan in dividends, with 494 million yuan distributed over the past three years [2]. Institutional Holdings - As of September 30, 2025, Hong Kong Central Clearing Limited was the sixth largest circulating shareholder with 7.3992 million shares, an increase of 2.1523 million shares from the previous period [2]. - Qianhai Kaiyuan HuGang Shen Core Resource Mixed A (003304) ranked seventh with 6.2205 million shares, up by 1.8514 million shares, while the Jiashi Zhongzheng Rare Earth Industry ETF (516150) entered the top ten shareholders with 5.4130 million shares [2]. - Notably, several funds, including Southern Zhongzheng 1000 ETF (512100) and Huaxia Zhongzheng 1000 ETF (159845), have exited the top ten circulating shareholders list [2].

Core Viewpoint - The metal new materials sector experienced a slight increase of 0.42% on January 29, with notable gains from specific companies, while the overall market showed mixed results with the Shanghai Composite Index rising by 0.16% and the Shenzhen Component Index declining by 0.3% [1] Group 1: Market Performance - The Shanghai Composite Index closed at 4157.98, up 0.16% [1] - The Shenzhen Component Index closed at 14300.08, down 0.3% [1] - The metal new materials sector saw a net inflow of 6.09 billion yuan from institutional investors, while retail investors experienced a net outflow of 7.45 billion yuan [2][3] Group 2: Individual Stock Performance - Ni'an New Materials (688786) led the sector with a closing price of 33.19, up 6.17% with a trading volume of 61,700 shares and a transaction value of 201 million yuan [1] - Jinli Permanent Magnet (300748) followed with a closing price of 41.16, up 5.67%, with a trading volume of 1.5032 million shares and a transaction value of 6.13 billion yuan [1] - Galaxy Magnetic Materials (300127) closed at 38.39, up 4.66%, with a trading volume of 421,800 shares and a transaction value of 1.602 billion yuan [1] Group 3: Fund Flow Analysis - Jinli Permanent Magnet (300748) had a net inflow of 4.20 billion yuan from institutional investors, while retail investors saw a net outflow of 3.12 billion yuan [3] - Ningbo Yunsheng (600366) recorded a net inflow of 2.07 billion yuan from institutional investors, with a net outflow of 2.53 billion yuan from retail investors [3] - The overall fund flow indicates a strong preference for institutional investment in the metal new materials sector despite retail investor withdrawals [2][3]

Somore 山 东 松 茂 律 师 事 务 所 山东松茂律师事务所 关于烟台正海磁性材料股份有限公司 2026 年第一次临时股东会的法律意见书 致：烟台正海磁性材料股份有限公司 根据《中华人民共和国证券法》(以下简称"《证券法》")、《中 华人民共和国公司法》(以下简称"《公司法》")和中国证券监督管 理委员会(以下简称"中国证监会")关于《上市公司股东会规则》(以 下简称"《股东会规则》")等法律、法规和规范性文件的要求，山 东松茂律师事务所(以下简称"本所")接受烟台正海磁性材料股份有 限公司(以下简称"公司")委托，指派本所律师出席公司 2026 年第 一次临时股东会(以下简称"本次股东会")，并出具本法律意见书。 为出具本法律意见书，本所律师对公司本次股东会所涉及的有关 事项进行了审查，查阅了公司本次股东会的有关文件和材料，并对有 关问题进行了必要的核查和验证。本所律师得到公司如下保证，即其 已提供了本所律师认为出具本法律意见书所必需的材料，所提供的原 始文件、副本、复印件等书面材料、口头证言均符合真实、准确、完 整的要求，有关副本、复印件材料与正本原始材料一致。 在本法律意见书中，本所律师根据《股 ...