0835 GMT - JL Mag Rare-Earth's 2Q and 1H gross margins are likely to keep expanding thanks to its strategic inventory positioning from late last year and surging rare earth prices in 1H, say Citi analysts in a note. The rare-earth magnet maker is likely to benefit from higher orders during the peak season, with customer Tesla likely scheduling a humanoid robot launch later this year, they note. This should provide a substantial and immediate boost to JL Mag's business of supplying to the humanoid robot sector. The company is likely to issue a positive profit alert for 1H, given its low base for gross margins, Citi says. The bank has a 90-day upside catalyst watch on the Hong Kong-listed stock and retains its buy rating and HK$38.20 target price. The H-shares closed 3.2% higher at HK$16.63. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

June 30, 2026 04:35 ET (08:35 GMT)

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