Jl Mag Rare-Earth (300748.SZ) plans to acquire a 9.24% stake in the Baotou Rare Earth Products Exchange.

Jl Mag Rare-Earth (300748.SZ) announced that the company plans to transfer 9.24% equity of Baotou Rare Earth Products Exchange Co., Ltd. (referred to as "Rare Exchange") held by China Northern Rare Earth (Group) High-tech Co., Ltd. through public listing on the Inner Mongolia Property Exchange Center. The estimated transaction price for the equity is 22,083,600 yuan. Rare earth is the core raw material for producing neodymium-iron-boron permanent magnet materials. Rare Exchange, as a professional trading platform for rare earth (metals) resources, if the equity transfer is successfully completed, will further enhance the company's guarantee capability for rare earth raw materials supply, strengthen the overall competitiveness of the enterprise, and consolidate the company's market position in the rare earth permanent magnet industry.