JL MAG to acquire stakes in three companies with over RMB400 million
2022-07-22 16:44:36 [Print]
On July 21, JL MAG announced that it planned to acquire a 51% stake in Bayannur Yinhai New Materials Co., Ltd. with RMB154 million (USD22.77 million), acquire a 46% stake in Xinyang Yen Sonic Technology Co., Ltd. and a 51% stake in Suzhou Yuange Electronic Co.,Ltd. with RMB280 million (USD41.39 million). The acquisition capital will be raised via H-share market.
JL MAG revealed that Yinhai New Materials focuses upon recycling and reutilization of rare earth polishing powder and magnetic materials scraps. It extracts rare earth elements from rare earth polishing powder and magnetic materials scraps.
Xinyang Yen Sonic Technology focuses on production and selling of magnetic materials, research on intelligent robots, selling of rare earth functional materials, and research on metallic products. Suzhou Yuange Electronic focuses upon production and assembling of electronics products, diaphragm and electronic sound equipment.
JL MAG revealed that Yinhai New Materials focuses upon recycling and reutilization of rare earth polishing powder and magnetic materials scraps. It extracts rare earth elements from rare earth polishing powder and magnetic materials scraps.
Xinyang Yen Sonic Technology focuses on production and selling of magnetic materials, research on intelligent robots, selling of rare earth functional materials, and research on metallic products. Suzhou Yuange Electronic focuses upon production and assembling of electronics products, diaphragm and electronic sound equipment.
