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Zhongke Sanhuan, a high-performance rare earth permanent magnet product, plans to raise no more than 720 million yuan through a rights issue.
Jul 7,2020 11:58CST
translation
The content below was translated by Tencent automatically for reference.

SMM: due to the needs of operation and business development, Beijing Zhongke Sanhuan Hi-Tech Co., Ltd. plans to raise no more than 720 million yuan by placing shares to the original shareholders, after deducting the issuing expenses, for the construction of the investment project, of which, the new construction and technical renovation project of Ningbo Koningda base plans to use 390 million yuan, and the new project of Ganzhou base of the third ring road of China Science and Technology plans to use 330 million yuan. Specifically used for:

After the completion of the high-performance rare earth permanent magnet material expansion and transformation project of Ningbo Ke Ningda Industrial Co., Ltd., it can form an additional annual production capacity of 1575.00 tons of sintered NdFeB magnet alloy blanks (which can be processed into qualified finished products).

After the completion of the high-performance rare earth permanent magnet material expansion and transformation project of Ningbo Koningda Hefeng New Materials Co., Ltd., it can form an additional annual production capacity of 1687.50 tons of sintered NdFeB magnet alloy blanks (which can be processed into qualified finished products).

After the completion of the magnetic material machining project of Ningbo Corningda Xinfeng Precision Manufacturing Co., Ltd., it can increase the machining capacity of 2088.00 tons of sintered NdFeB magnets per year.

After the implementation of the magnetic material electroplating park project of Ningkening Darifeng Magnetic Materials Co., Ltd., it can form a high-performance rare earth permanent magnet electroplating surface treatment capacity of 2088.00 tons / year.

After the completion of the new project of Zhongke Sanhuan Ganzhou Base, it can produce 5000.00 tons of sintered NdFeB blanks of various specifications annually, and finally form an annual production capacity of 3200.00 tons of sintered NdFeB magnets.

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Zhongke Sanhuan said that NdFeB magnet is the third generation rare earth permanent magnet, which has the advantages of high magnetic energy product, coercivity and high energy density, and has been widely used in modern industry and electronic technology. At present, there are two production processes of NdFeB magnet materials-sintered NdFeB and bonded NdFeB. Bonded NdFeB is magnetic and corrosion resistant in all directions, while sintered NdFeB is generally divided into axial magnetization and radial magnetization, which has a wide range of applications, but it is easy to corrosion and needs surface treatment.

China is the largest producer of NdFeB magnetic materials, accounting for more than 90% of the world's production capacity, of which sintered NdFeB magnets account for more than 90% of NdFeB magnetic materials. As NdFeB magnetic products have the characteristics of high magnetism, light and thin, energy saving and environmental protection, they will be more and more widely used in various fields in the future, and the market development prospect is promising.

At present, the company has four manufacturers of sintered NdFeB permanent magnets-Ningbo Corningda Industrial Co., Ltd., Tianjin Sanhuan Lexi New Materials Co., Ltd., Sanhuan Wakehua (Beijing) Magnetic Devices Co., Ltd. And Zhaoqing Sanhuan Jingyue Magnetic material Co., Ltd., the total design capacity is 18000 tons. For a long time in the future, the supporting role of high-performance rare earth permanent magnet materials in the field of high and new technology, the transformation of traditional industries and low-carbon economic industries will become more and more important. It is becoming the key and foundation to support China's economic transformation and great-leap-forward development.

In order to meet the development needs of the rare earth permanent magnet market, the construction of this fund-raising investment project will optimize the company's product structure and strengthen the product development and manufacturing capacity of high-performance rare earth permanent magnet materials. and enhance the production capacity of high-performance sintered NdFeB permanent magnets.

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