SMM5, March 26: with the customs closure of Myanmar's rare earth exports in May last year, coupled with the continued trade frictions between China and the United States, rare earth prices ushered in a big rise, but due to the improvement in domestic supply of medium and heavy rare earths in the second half of the year and the easing of trade frictions between China and the United States, the prices of medium and heavy rare earths began to fall, falling all the way from the second half of last year to a low level for many years, coupled with the outbreak of the epidemic in the first quarter. The market demand is limited, and the price of rare earths remains low. With the improvement of the domestic epidemic situation, the market demand has picked up somewhat. The prices of medium and heavy rare earths, rare earth oxides and metals are gradually rising, coupled with the current market expectations of rare earth storage, it is expected that the market is still looking forward to the price of medium and heavy rare earths. In addition, the competition between China and the United States in science and technology seems to have gone back to the old way, and the United States may once again trigger a "rare earth fever" if it wants to crack down on Chinese technology companies.

As the market has some expectations for rare earth listed companies, we have taken stock of some relevant information about A-share listed companies.

Minmetals rare earth

The latest quarterly report for 2020 released on April 29th showed that its operating income was 315 million yuan, down 23.16% from the same period last year, while the net profit belonging to shareholders of listed companies was 11.95 million yuan, down 3.23% from the same period last year. At present, the company is mainly engaged in the production and operation of rare earth oxides and other products, as well as rare earth technology research and development, consulting services. Through the purchase of rare earth raw materials and other methods for separation and processing, the main products include high-purity single rare earth oxides and rare earth concentrates and so on. With its superior performance, the company's products are widely used in magnetic materials, luminescent materials, catalytic materials, crystal materials and high-end electronic components and other fields. The company is now one of the largest southern ion-type rare earth separation and processing enterprises in China. Its separation enterprises have all passed the certification of ISO9000, ISO14000 and OHSAS18000, and can realize the full separation of 15 kinds of single high purity rare earth elements, which effectively improves the comprehensive utilization rate of rare earth resources. In 2019, the company produced a total of 4002.03 tons of rare earth oxides, which is basically the same as last year.

Dingnan Dahua and Guangzhou Jianfeng of the company are mainly engaged in the production and sales of high purity single rare earth oxides, rare earth concentrates and rare earth salt products, relying on the company's advanced technology and R & D support, the purity of some of the single rare earth oxides can reach more than 99.9999%, and the resource utilization rate is more than 98.5%. It has a leading advantage in domestic medium and heavy rare earth smelting and separation industry in terms of product quality, product purity, product unit consumption, customized product supply and pollutant emission standards.

The company is the only rare earth listing platform of Minmetals rare Earth Group, one of the six major rare earth groups. for example, the rare earth group strategy and related policies can be implemented more effectively, and the environment of the rare earth industry will be further improved. the company's product technical quality and cost control advantages will also be further brought into play.

The company's operating income in 2019 was 1.6472852 billion yuan, an increase of 78.12 percent over the same period last year, and the net profit belonging to shareholders of listed companies was 85.8944 million yuan, down 15.61 percent from 101.7835 million yuan in the same period last year.

At present, the related work of the exploration rights of Shenggongzhai rare earth mine and the exploration right of Fetian rare earth mine is being promoted, and no mineral exploration activities have been carried out in 2019.

Guangsheng Nonferrous

Guangsheng Nonferrous disclosed its quarterly report on April 30 that the company's total operating income in the first quarter of 2020 was 1.57 billion, up 180.6% from the same period last year; its net profit was 5.145 million, down 73.3% from the same period last year; and its earnings per share was 0.02 yuan. The substantial increase in operating income was mainly due to the expansion of sales business during the reporting period. During the reporting period, R & D expenses increased by 51.65% compared with the same period last year, mainly due to the increase in R & D expenses during the reporting period. Data show that Guangsheng Nonferrous is mainly engaged in rare earth mining, smelting separation, deep processing, tungsten mining and trading of non-ferrous metals, producing products including rare earth concentrates, mixed rare earths, rare earth oxides, rare earth metals, tungsten concentrates, and so on.

Rare earth plate, the company is the only listing platform of Guangdong rare Earth Group, one of the six major rare earth industry groups in the country. It controls 3 rare earth mining enterprises, 4 rare earth separation plants and 1 rare earth metal processing plant, and participates in two rare earth permanent magnet material production enterprises. At present, it has formed a relatively complete rare earth industry chain, rich in rare earth resources, and has the ability to separate all rare earth elements. It has outstanding competitive advantage in the field of medium and heavy rare earths.

In 2019, the company realized operating income of 4.509 billion yuan, an increase of 87.05% over the same period last year; the net profit attributed to the owner of the parent company was 44.1052 million yuan, compared with-266.14 million yuan in the same period last year, an increase of 310.2452 million yuan over the same period last year. As of December 31, 2019, the total assets of the company were 3.928 billion yuan, and the net assets belonging to the owners of the parent company were 1.718 billion yuan.

In 2019, the output and sales volume of rare earth mines decreased by 18.01% and 81.66% respectively over the previous year, mainly because the boundary expansion and integration of rare earth mines in Chinese enterprises of the company had not yet been completed during the reporting period, resulting in a decrease in production and sales.

The production and sales of rare earth oxides increased by 6.09% and 19.59% respectively over the previous year, mainly because the company seized the market opportunity during the reporting period, strengthened the organization of production, increased the utilization of production capacity, and implemented pro-price sales, resulting in an increase in production and sales.

The production and sales of rare earth metals increased by 49.41% and 25.08% respectively over the previous year, mainly because the company strengthened its organizational production and marketing efforts during the reporting period, resulting in an increase in production and sales.

Shenghe resources

Shenghe Resources is mainly engaged in rare earth ore mining, smelting separation, metal processing and zirconium-titanium mineral processing business. The company's main products include rare earth concentrate, rare earth oxide, rare earth salt, rare earth metal, rare earth high efficiency catalyst and molecular sieve, zircon sand, titanium concentrate, rutile, monazite and so on.

At present, it has two main industries: rare earth and zirconium and titanium. Rare earth business has formed a relatively complete industrial chain from mining, smelting separation to deep processing, realizing the dual layout at home and abroad. At present, the business of zirconium and titanium is mainly concentrated in mineral processing.

Shenhe Resources disclosed its quarterly report on April 25, 2020, that the company's total operating income in the first quarter of 2020 was 1.78 billion, up 12.3% from the same period last year; its net profit was 10.76 million, down 69% from the same period last year, and the rate of decline was larger than that of the same period last year; earnings per share was 0.01 yuan. During the reporting period, the company's gross profit margin was 8%, 3.2 percentage points lower than the same period last year, and the net profit margin was 1%, 1.3 percentage points lower than the same period last year.

In order to expand the production capacity, the company has promoted some investment projects, including: Chenguang rare earth "intelligent technical renovation project with an annual output of 12000 tons of rare earth metals and alloys", on the basis of the original annual production capacity of 8000 tons of rare earth metals, increase the annual production capacity of 4000 tons of rare earth metals and alloys, and implement intelligent transformation; combined with market conditions, the company steadily promotes the above investment projects, and the follow-up is expected to increase the company's performance.

In 2019, a total of 539100 tons of various products were produced, including 7346 tons of praseodymium-neodymium metal, 48 tons of terbium, 375 tons of dysprosium iron and dysprosium, 76700 tons of zircon sand, 313100 tons of titanium ore (including rutile) and 9663 tons of monazite. In 2019, the company achieved operating income of 6.9595185 billion yuan, an increase of 11.76% over the same period last year, and the net profit of shareholders belonging to listed companies was 101.5317 million yuan, a decrease of 64.55% over the same period last year.

In 2019, in order to achieve the development goals, the company began to implement comprehensive budget management within the group. In order to facilitate operation and management and give full play to the synergy, the company divides the main production and operation units into four major industry plates, including: (1) Sichuan business plate, with Leshan Shenghe, Coburi, and Geo Mining (formerly known as Dechang County Polymetal Ore Test Mining Plant) as the main business subjects, mainly engaged in light rare earth ore mining, smelting separation and metal processing business; (2) Jiangxi business plate, with Chenguang rare earth, Quannan new resources and Bulai terbium as the main business body, mainly engaged in medium and heavy rare earth ore separation, rare earth waste recovery and metal processing business; (3) Hainan business plate, take Hainan Wensheng, Haituo Mining, Fujian Wensheng, Fangchenggang Wensheng as the main business body, mainly engaged in zirconium, titanium and other seashore placer separation business; (4) overseas business sector, with Sheng and Singapore trade as the main business body, mainly engaged in overseas rare earth mineral trade business such as Mount pass in the United States.

In 2019, the company continued to work with the U.S. Mount pass Mine team to stabilize mine production targets, increase rare earth concentrate production, and actively deal with the adverse effects of trade frictions between China and the United States. At present, the annual output of REO, has exceeded 30,000 tons and has become the largest rare earth mine outside China, all products are sold by the company to the domestic processing.

Northern rare earth

Northern rare Earth Group is the largest supplier of light rare earth products in China and even in the world, and is one of the six largest rare earth groups in China's rare earth industry. The company mainly produces and manages rare earth raw material products, rare earth functional material products and partial rare earth terminal application products, among which rare earth raw material products include rare earth salts, rare earth oxides and rare earth metals. it is the main raw material for downstream rare earth functional materials and new material products production and processing enterprises. The products of rare earth functional materials include rare earth magnetic materials, polishing materials, hydrogen storage materials, luminescent materials and catalytic materials, which are mainly used in the production and manufacture of industrial application products, such as magnets, polishing powder (liquid), Ni-MH battery, phosphor, catalyst, etc.; rare earth terminal application products include Ni-MH power battery, rare earth permanent magnet magnetic resonance instrument, LED lamp beads, rare earth permanent magnet motor.

Relying on the advantage of Bayan Obo rare earth resources controlled by the controlling shareholder Baogang (Group) Company, the company purchases the rare earth concentrate produced by its holding subsidiary Baotou Iron and Steel Co., under the guidance of the national total quantity control plan for rare earth production, entrusts the company to hold and participate in the company to process the rare earth concentrate into mixed rare earth carbonate. Then the company directly under, holding and participating companies will separate the mixed rare earth carbonate into single or mixed rare earth salts, rare earth oxides and rare earth metal products. In recent years, in the index distribution of the national rare earth mining and production total control plan, the distribution of mineral products and smelting separation products obtained by the company accounts for about 50% of the total allocation, which strengthens the company's resource advantage and highlights the company's position in the industry.

In 2019, the operating income of northern rare earths reached 18.092 billion yuan, an increase of 29.65 percent over the same period last year, a record high; the net profit belonging to shareholders of listed companies was 616 million yuan, an increase of 5.57 percent over the same period last year; the payment of various taxes was 569 million yuan; and the performance was firmly in the forefront of the industry.

Baogang (Group), the controlling shareholder of the company, has the exclusive mining right of Bayan Obo Mine, the largest rare earth mine in the world, and the exclusive right of rare earth products in Inner Mongolia.

The latest quarterly report for 2020 released by Northern rare earths on April 30 showed that its operating income was 4.56 billion yuan, up 15.28% from the same period last year, while the net profit belonging to shareholders of listed companies was 145 million yuan, up 21.11% from the same period last year. Basic earnings per share is 0.0401 yuan.

Northern rare earths signed a "rare earth concentrate supply contract" with related parties Baotou Iron and Steel Co., Ltd. from January 1, 2020, the trading price of rare earth concentrate will be adjusted to 12600 yuan per ton without tax (dry volume, REO=51%), REO increases or decreases 1%, excluding tax price increases or decreases 217 yuan / ton (dry volume), the total trading volume of rare earth concentrate is 120000 tons in 2020.

Production and sales of rare earths in North China in 2019

The two sides agreed that in the event of a change in the market price of rare earth, the two sides can negotiate and adjust the trading price of rare earth concentrate according to the actual quality of rare earth concentrate. In 2020, the company expects the total amount of this daily related party transaction to be no more than 2.1 billion yuan (including tax).

Xiamen tungsten industry

The company is mainly engaged in the R & D, production and sales of tungsten concentrate, tungsten-molybdenum intermediate products, powder products, wire plates, cemented carbide, cutting tools, various rare earth oxides, rare earth metals, rare earth luminescent materials, magnetic materials, hydrogen storage alloy powder, lithium battery materials and other new energy materials, as well as real estate development and management.

The company has a complete industrial chain of upstream rare earth mining-smelting separation-downstream rare earth deep processing products, and is one of the six leading enterprises to support the establishment of large rare earth enterprise groups approved by the State Council. At present, while doing a good job in the rare earth deep processing industry, the company actively explores the application of rare earths and makes use of its basic advantages in the industry of rare earth permanent magnet materials to lay out the motor business.

In 2019, the company actively promoted the rare earth mining license transfer and expansion work, set up a leading group for rare earth mining right application, and Shanghang Jiazhuang rare Earth Mine is organizing a "three-in-one" program review, and will start the mining license renewal work after passing; Liancheng Huangfang rare Earth Mine has completed the work of reporting mining license extension materials, waiting for approval; Changting Yangmeikeng mining license evaluation work has been completed, ready to start integration.

Rare earth mining targets in 2019 and 2020

The global supply of rare earths increased significantly in 2019, and China's total rare earth production control plan increased from 120000 tons to 132000 tons.

In order to protect and rationally develop superior mineral resources, the Ministry of Natural Resources and the Ministry of Industry and Information Technology, in accordance with the relevant regulations on the management of specific types of protective mining, will continue to control the total amount of rare earth and tungsten mines in 2020. In order to serve the production of enterprises, the total amount control index of rare earth and tungsten mining in 2020 will be issued in two batches, and the first batch of indicators will be calculated according to 50% of the 2019 target. The total amount control index for the whole year (the second batch) will be issued timely in the second quarter in accordance with the relevant national policies and market conditions. The relevant matters of the first batch of indicators are hereby notified as follows: the total mining volume control index of the first batch of rare earth mines (rare earth oxide REO,) is 66000 tons, of which the ion type (mainly medium and heavy rare earths) is 9575 tons and the rock type (light) rare earth ore index is 56425 tons. The total mining volume control index of the first batch of tungsten concentrate (65% tungsten trioxide content, the same below) is 52500 tons, of which the main mining index is 39075 tons and the comprehensive utilization index is 13425 tons.

Rare earth permanent magnet

The third Ring Road of Zhongke

China Science and Technology third Ring Road disclosed its quarterly report on April 29, 2020, that the company's total operating income in the first quarter of 2020 was 750 million, down 18.8% from the same period last year, and the decline was larger than the same period last year; the net profit returned to the home was 12.223 million, down 72.4% from the same period last year.

It is understood that the financial expenses incurred in the current period-13.9432 million yuan, a decrease of 163.51% compared with the previous period, mainly due to the increase in exchange earnings in the current period. The net cash flow of investment activities occurred in the current period-48.4956 million yuan, an increase of 50.11% over the previous period, mainly due to the decrease in cash paid by the investment compared with the previous period.

The company is mainly engaged in the research, development, production and sales of rare earth permanent magnet materials and new magnetic materials and their application products. The company's products are widely used in computers, home appliances, wind power, communications, medical, automotive and other fields. The company's business model is engaged in NdFeB rare earth permanent magnet materials and new magnetic materials research and development, production and sales, performance-driven model to open up the market and application fields of magnetic products.

The company is committed to independent research and development, process innovation, constantly optimize product structure, upgrade product grade, enhance product added value, and have achieved remarkable results. It is in the domestic leading level in product quality and quality, and has a strong influence in the international market. Products with high comprehensive properties (the sum of maximum magnetic energy product (unit MGOe) and intrinsic coercivity (unit kOe) greater than 75) and high temperature stability (operating temperature greater than 200oC) can be provided to the market.

In 2019, the company's operating income was 4.0345116 billion yuan, down 3.12% from the same period last year; the total profit was 332.4962 million yuan, down 16.66% from the same period last year; and the net profit belonging to the shareholders of the parent company was 201.0058 million yuan, down 19.04% from the same period last year.

The company pays attention to the layout of the upstream industry and actively strengthens the strategic cooperation with the upstream enterprises. In 2001, the company participated in two rare earth raw material enterprises, Southern rare Earth and Keli rare Earth, and had a stable supply channel of rare earth raw materials. In 2010, the company signed a strategic cooperation agreement with Minmetals Nonferrous under the most favorable market prices. Minmetals gives priority to providing praseodymium, neodymium, iron and other rare earth metals to the company. In 2018, Ningbo Koningda Industrial Co., Ltd., a wholly-owned subsidiary of the company, and Dandong rare Earth Group Co., Ltd., jointly established "Ningbo Zoning Special Alloy Co., Ltd." has started construction and is progressing smoothly. In 2019, China Science and Technology Sanhuan signed a "letter of intent" with China Southern rare Earth Group Co., Ltd., intending to hold a 5% stake in Southern rare Earth in the form of capital increase and share expansion. Through this cooperation, the company will be further guaranteed in the supply of rare earth raw materials (especially heavy rare earths), which is of great significance to enhance the company's competitiveness in areas such as new energy vehicles.

In addition, the company is the second largest NdFeB manufacturer in the world and the largest permanent magnet in A-share performance flexibility. The company has worked with TeslaMotors,Inc. earlier. (referred to as "Tesla") signed the General terms and conditions for the purchase of Tesla parts, which purchased NdFeB magnets from the company, further confirming the company's future development prospects.

Zhenghai magnetic material

The quarterly report for 2020 released by Zhenghai Magnetic Materials on April 21 showed that its operating income was 348 million yuan, down 3.48% from the same period last year, while the net profit belonging to shareholders of listed companies was 13.55 million yuan, up 96.09% from the same period last year. Basic earnings per share is 0.02 yuan.

It is understood that after the outbreak of the epidemic, the company responded actively and, on the basis of doing a good job in the prevention and control of the epidemic, solidly promoted the resumption of work and production, and made every effort to ensure the delivery of products, which to a certain extent weakened the adverse impact of the epidemic on the company's production and operation, and achieved the relative stability of production and operation in the first quarter.

In the first quarter, the sales revenue and net profit of the company's high-performance NdFeB permanent magnet business continued to increase compared with the same period last year. Affected by exchange rate fluctuations, the company's exchange earnings increased during the reporting period compared with the same period last year.

Ningbo Yun Sheng

The company is a national high-tech enterprise, specializing in the research and development, manufacture and sales of rare earth permanent magnet materials since 1995. With an annual production capacity of 10000 tons of billets, it is one of the major manufacturers of rare earth permanent magnet materials in China.

In 2019, the output of rare earth magnetic materials maintained steady growth. Of this total, the output of sintered NdFeB blanks was 170000 tons, up 9.7 percent over the same period last year, and that of bonded NdFeB was 7900 tons, up 5 percent over the same period last year.

In 2019, the company adopts the focus strategy, focuses on the servo motor market, and actively establishes long-term cooperative relationship with the leading customers in the industry. In the United States, Japan, South Korea and other markets, through the establishment of good relations of cooperation with customers, actively participate in the development of new projects.

At the same time, the company actively pays attention to the emerging hot application fields such as industrial robots and rail transit, develops new application markets, and strives to make new breakthroughs.

Ningbo Yunsheng's quarterly report for 2020 released on April 28th showed that its operating income was 389 million yuan, up 7.27% from the same period last year, while the net profit belonging to shareholders of listed companies was-21.95 million yuan, down 120.62% from the same period last year. Basic earnings per share-0.0222 yuan. The loss is mainly due to changes in the fair value of the stocks and funds held, affecting the net profit of about 40 million yuan.

Jin Li permanent magnet

Jin Li permanent Magnet has been committed to the research and development, production and sales of high-performance NdFeB permanent magnet materials, and focuses on new energy and energy-saving and environmental protection applications. It is one of the fastest growing companies in high-performance NdFeB permanent magnet materials industry.

The company is located in Ganzhou, Jiangxi Province, the main production place of heavy rare earths, and has established a stable cooperative relationship with local heavy rare earth producers. On the basis of fulfilling the 2019 "Cooperation Agreement", South rare Earth International Trading Co., Ltd., a subsidiary of Ganzhou rare Earth Group, signed a 2020 "Cooperation Agreement", which can ensure the company's long-term and stable supply of rare earth raw materials, especially heavy rare earths.

The company realized operating income of 1.69 billion yuan, an increase of 31.61% over the same period last year, including export sales income of 280 million yuan, an increase of 58.65% over the same period last year, and a net profit of 156.8802 million yuan belonging to shareholders of listed companies, an increase of 6.58% over the same period last year. The net profit belonging to shareholders of listed companies after deducting non-recurring profits and losses was 146.8384 million yuan, an increase of 38.79% over the same period last year.

In 2019, the company continues to expand in the field of new energy vehicles, the company has entered the supply chain of many leading companies in the global new energy vehicle industry, and has become a leading magnet supplier in the field of new energy vehicles. In 2019, the company became the supplier of rare earth permanent magnet materials for Volkswagen Group MEB pure electric platform, and also became the designated supplier of rare earth permanent magnet materials for BEV3 global electric vehicle platform of American General Motors, which will have a positive impact on the company's future expansion of new energy vehicle market business. The company has long-term friendly cooperation with Bosch Group for many years. The company won the "Best Cooperation Award" of United Automotive Electronics in 2019.

According to the quarterly report for 2020 released by Jinli permanent Magnet on April 28, the company's operating income was 413 million yuan, up 15.12% from the same period last year, while the net profit belonging to shareholders of listed companies was 35.76 million yuan, up 35.68% from the same period last year. Basic earnings per share is 0.09 yuan.

Jinli permanent Magnet is a high-tech enterprise integrating R & D, production and sales of high-performance NdFeB permanent magnet materials. it is a leading supplier of core application materials in the field of new energy and energy saving and environmental protection in China. The company returned to the production level of the best production capacity at the end of February, making every effort to reduce the adverse impact of the epidemic on the company's production and marketing.

Spot price fluctuations have a certain impact on the company's short-term operating performance, in the face of rare earth spot price fluctuations, Jinli permanent Magnet said that the company will purchase rare earth raw materials in advance according to on-hand orders, establish safety inventory of rare earth raw materials, establish price adjustment mechanism with customers, and improve formulation technology to reduce the impact of rare earth raw material price fluctuations on the company's long-term business performance.

Galactic magnet

Galaxy Magnet has been specialized in R & D, production and sales of a new generation of rare earth permanent magnets-bonded NdFeB (BonedNdFeB) rare earth magnet components and components since 1993, and samarium cobalt magnet and hot-pressed NdFeB magnet since March 2012.

Galaxy Magnet released its report for the first quarter of 2020 on April 25, the announcement showed that revenue during the reporting period reached 137 million yuan, down 9.29% from the same period last year; net profit belonging to shareholders of listed companies was 34.83 million yuan, down 6.25% from the same period last year.

Galaxy Magnet said that in the first quarter of 2020, due to the need for epidemic prevention and control, the Spring Festival holiday was extended, some downstream customers had not yet fully resumed work and production, and the company's new orders decreased in the first quarter compared with the same period last year. As a result, the company's first-quarter sales revenue and net profit belonging to shareholders of listed companies decreased compared with the same period last year.

The main raw materials for the company's high-performance NdFeB permanent magnet business are rare earth metals and rare earth alloys such as neodymium, praseodymium, terbium and ferronium. The sharp fluctuation in the price of rare earth raw materials will adversely affect the company's production and sales in the short term. In this regard, the company will continue to optimize the inventory management of raw materials; strengthen strategic cooperation with upstream suppliers; actively communicate and negotiate with downstream customers to form a flexible price adjustment mechanism to maintain the steady development of the company.

In 2019, the company achieved an operating income of 602 million yuan, an increase of 0.62% over the same period last year, a total profit of 171 million yuan, a decrease of 5.79% over the same period last year, and a net profit of 147 million yuan belonging to shareholders of listed companies, a decrease of 5.71% over the same period last year.

During the reporting period, the company's operating income mainly came from bonded NdFeB magnets, followed by hot-pressed NdFeB magnets and samarium cobalt magnets. The increase in the company's operating income during the reporting period was mainly due to the increase in sales revenue of the company's automotive magnets and some high-efficiency and energy-saving motor magnets, which was greater than the decrease of hard disk magnets, hot-pressed magnets and samarium cobalt magnets.

During the reporting period, the main reasons for the decrease in the company's total profits and net profits belonging to shareholders of listed companies over the same period last year are as follows: the decline in gross profit margin of some products compared with the same period last year, exchange gains and losses, and so on.

Hengdian East Magnetic Field

The latest quarterly report for 2020 released by Hengdian East Magnetic Company on April 28 shows that its operating income is 1.34 billion yuan, down 3.77% from the same period last year, while the net profit belonging to shareholders of listed companies is 88.1 million yuan, down 22.33% from the same period last year.

Hengdian East Magnetic is a high-tech private enterprise with many industrial clusters such as magnetic materials, new energy and devices.

By the end of 2019, the company has an annual production capacity of 150000 tons of ferrite pre-fired materials, 130000 tons of permanent magnet ferrites, 30, 000 tons of soft ferrites and 20, 000 tons of plastic magnets. It is the largest manufacturer of magnetic materials in China.

The company is the largest manufacturer of magnetic materials in China, a leading manufacturer of vibration motors in China, and a large-scale manufacturer with a relatively complete solar photovoltaic industry chain. In addition, high-quality customers are the cornerstone of the company's stable operation and sustainable development. The core customers of the company's magnetic materials industry are mainly global top 500 companies or industry leaders, such as Huawei, Tesla, Bosch, Samsung, Valeo, Panasonic, Electric, Gree, Midea, etc.; the customers of the company's vibration motor are mainly Huawei, vivo, OPPO, Samsung, Xiaomi, etc.; most of the customers of the solar energy industry are industry leaders, with whom the company promotes, supports and grows together.

In 2019, the completed operating income was 6.5636382 billion yuan, an increase of 1.16% over the same period last year, and the net profit attributed to shareholders of listed companies was 691.0644 million yuan, an increase of 0.31% over the same period last year.

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