ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Investors resist pull of Chinese rare earth magnet maker JL Mag

Despite link with EV makers, shares slide 17% in Hong Kong debut

HONG KONG -- A major Chinese manufacturer of rare earth magnets for electric vehicles, wind power generators and energy-efficient air conditioners made an underwhelming debut on the Hong Kong stock market on Friday despite being a key player in a red-hot sector.

JL Mag Rare-Earth produces magnets from an alloy of neodymium, iron and boron known as NdFeB. The Jiangxi Province-based company leads this market, holding a 14.5% global share as of 2020, according to U.S. research consultancy Frost & Sullivan.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more