Earth Bear invests 453 million yuan to build a high comprehensive performance sintered NdFeB permanent magnet and device R & D and industrialization project.

Recently, Earth Bear announced that in order to further expand the production capacity of high comprehensive performance sintered NdFeB permanent magnet materials and devices, enhance the comprehensive performance of sintered NdFeB permanent magnet materials and devices, as well as the automation and intelligent level of the manufacturing process, enhance the ability of product research and development and industrialization, meet the market demand for high comprehensive performance magnets in downstream fields, and enhance the company's overall competitiveness and profitability. The company plans to invest in the R & D and industrialization project of sintered NdFeB permanent magnets and devices with high comprehensive performance in Lujiang High-tech Industrial Development Zone, Hefei City, Anhui Province.

It is understood that the investment amount is 453 million yuan, the source of funding for Anhui Daixiong New material Co., Ltd. own funds or other self-raised funds. The project plans to build a new material production workshop, testing center and other main projects and corresponding public auxiliary facilities, and purchase material preparation, machining, surface treatment production line, magnetic device assembly production and testing equipment. After reaching production, it will form an annual production capacity of 5000 tons of high-performance sintered NdFeB permanent magnets and 16 million sets of magnetic devices.