Youyan new materials: the company has formed a good upstream and downstream cooperative relationship with Youyan rare earth headquarter. At present, the operation is in good condition.

Recently, Youyan new materials introduced on the investor interactive platform the current details of the 2019-12-14 Youyan rare earth Rongcheng company's acquisition of some of Hongxiushan's assets, liabilities and all business at the price of 40.2 million yuan in cash. Youyan Rongcheng said that Youyan rare earth Rongcheng mainly produces electro-acoustic sintered magnets, which is widely used in the field of consumer electronics and is the main domestic supplier. The company has formed a good upstream and downstream cooperative relationship with Youyan rare earth headquarters, and the operation is in good condition at present. You research new materials for the field of electromagnetic optics, according to the national strategy and market demand to carry out new products, new materials development.

Prior to this, Zhao Xiaochen, party committee secretary and chairman of Youyan Group, focused on the development of the rare earth industry, gave full play to the advantages of original technology, persisted in innovation-driven, explored a new mode of cooperation between central and local governments, and actively participated in the construction of Xiongan New area. Xiongan rare earth has carried out a series of work on the transfer of rare earth green smelting technology, scintillation crystals and display polishing materials to meet the major national green manufacturing projects and national strategic needs, and has made good progress.

Previously, in the first-quarter results released by Youyan Xincai, operating income rose 63.87% compared with the same period last year, and the net profit belonging to shareholders of listed companies increased by 803.19%. With the continuous improvement of related business and plates, it is expected that new research materials will usher in further development.