Zhenghai magnetic materials: proposed to raise no more than 1.025 billion yuan plus NdFeB magnetic materials

SMM News: February 28 Zhenghai Magnetic disclosed non-public offering plan, the content shows that the company intends to non-public offering no more than 246 million shares, the total amount of funds raised does not exceed 1.025 billion yuan, the pricing base day is the first day of the issuance period, the issuing price is not lower than 80% of the average trading price of the company's A-shares on the 20 trading days before the pricing benchmark.

The company raised funds for low-weight rare earth permanent magnet production base construction projects, Fuhai base research and development and intelligent upgrading projects and east-west plant upgrading and production capacity upgrading projects. Among them, after the completion of the low-weight rare earth permanent magnet production base project, 5000 tons of high-performance low-weight rare earth permanent magnet capacity has been added, and the annual revenue is expected to reach 1.15 billion yuan. After the East-West plant upgrading and capacity upgrading project has completely reached production capacity, 3700 tons of product production capacity can be added, and the annual operating income is expected to reach 851 million yuan.

Since its establishment in 2000, the company has been ploughing in the field of NdFeB magnetic materials. After nearly 20 years of rapid development, it has become one of the leading enterprises of high-performance NdFeB permanent magnet materials. In the product, technology, business model, brand, market and other aspects to establish the core competitive advantage. Between 2014 and 2018, the company's revenue rose from 769 million yuan to 1.68 billion yuan, an annual compound growth rate of about 21.57 percent.

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