Dragon Magnetic Technology: overseas subsidiary Vietnam Dragon Magnetic resumes production

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On the 14th, Dragon Magnetic Technology issued an announcement that the company received a notice from Vietnam Dragon Magnetic, and the Management Committee of Vietnam Qianjiang Industrial Park approved Vietnam long Magnetic to resume production under conditions that meet the requirements of epidemic prevention and control. Vietnam Dragon Magnetic will strictly comply with the requirements of local epidemic prevention and control, make every effort to promote the work of resuming work and production, and ensure that production and operation are carried out in a safe and orderly manner.

Prior to this, Anhui long Magnetic Technology Co., Ltd. disclosed the "announcement on the temporary suspension of production of overseas subsidiaries" (announcement No.: 2021-043) on July 29, 2021 at the China Securities Regulatory Commission designated gem Information Disclosure Media (http://www.cninfo.com.cn). Longji Technology (Vietnam) Co., Ltd. (hereinafter referred to as "Vietnam Longji"), a wholly owned subsidiary of the company, has temporarily suspended production since July 30 in accordance with the relevant requirements of local epidemic prevention and control.

Long Magnetic Technology said that the impact of this shutdown on Vietnam Dragon Magnetic's operating results in the second half of 2021 is subject to the audited financial report in 2021. In 2020, Vietnam Dragon Magnetic has total assets of 102.9905 million yuan and operating income of 34.0599 million yuan. The proportion of net profit to the net profit of the consolidated statement is 11.02%. The proportion of net profit to the net profit of the consolidated statement is 112.8863 million yuan, operating income is 29.8783 million yuan, and the proportion of net profit to the net profit of the consolidated statement is 16.55%.