Jintian Copper: the company's rare earth product production capacity will reach 13000 tons after the Baotou 8000 ton rare earth permanent magnet material project reaches production capacity.

Ningbo Jintian Copper (Group) Co., Ltd. released an investor survey report on Jintian Copper in August 2021, saying that in the first half of this year, the company's main business income of rare earth magnetic materials was 431 million yuan, an increase of 73.79% over the same period last year, and a net profit of 51 million yuan, an increase of 61.86% over the same period last year.

The company's rare earth permanent magnet products are widely used in wind power generation, new energy vehicles, industrial motors, consumer electronics and other fields, with a high synergistic effect with the company's copper products.

At present, the production capacity of rare earth magnetic materials is 5000 tons, and the company is building a 8000 ton rare earth permanent magnetic material project in Baotou. The project is divided into two phases, which are expected to be put into production in 2023 and 2024 respectively. The company's rare earth permanent magnet product production capacity will reach 13000 tons after the project reaches production. Among them, the flat wire is a subdivision of the company's electromagnetic wire business. At present, the company's flat wire products are mainly used in the field of new energy. The company's flat line products for new energy vehicles have entered the supplier system of well-known new energy vehicle enterprises, and entered the stage of mass production.

At present, the company is actively planning and expanding the production capacity of electromagnetic flat wire, and plans to make the production capacity of flat wire products for new energy vehicles reach 20,000 tons in 2022, and further expand the application of the company's products in the field of new energy vehicles. With the continuous growth of demand for flat-line motors from downstream new energy manufacturers, the company will decide on subsequent production expansion plans according to market conditions.

The company's flat line products for new energy vehicles have entered the supplier system of well-known new energy vehicle enterprises, and entered the stage of mass production. The overall gross advantage of flat wire for driving motor of new energy vehicle is higher than that of round wire products.