Tungsten Corporation of Xiamen announced that the 5,000 mt (first phase) high-performance NdFeB magnetic material project invested and constructed by Baotou Jinlong, a wholly-owned subsidiary established by Jinlong Rare Earth, a holding subsidiary of the company, has completed all preparations and commenced production. The total estimated investment for the project is 462 million yuan, and the products are mainly applied in fields such as wind power generation, 3C products, and energy-efficient motors. After the project reaches full production, the blank capacity of the company's magnetic material business will increase to 20,000 mt. However, it should be noted that it will take some time for the project to transition from trial production to full production, and there are investment risks involved.