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.
