Ningbo Yunsheng raises RMB1 billion for high-performance rare earth permanent magnetic material project
2022-11-24 15:18:49 [Print]
On November 21, Ningbo Yunsheng unveiled fund-raising results via private placement
Ningbo Yunsheng now has an annual production capacity of 15,000t of rough NdFeB magnet and its capacity utilization rate stays at a high level. The above planned project will notably enhance high-performance NdFeB production capacity of the company to meet quickly growing downstream demand and enhance its overall profitability.
. The company raised around RMB1 . 05 billion (USD0 . 15 billion); upon deduction of issuing costs, the proceeds will be all used in Baotou Yunsheng Technology Co . , Ltd . 's 15,000tpy high-performance rare earth permanent magnetic material intelligent production project . Construction cycle for the project will be 24 months, and it will achieve full-nameplate operation 36 months after going to operation.Ningbo Yunsheng now has an annual production capacity of 15,000t of rough NdFeB magnet and its capacity utilization rate stays at a high level. The above planned project will notably enhance high-performance NdFeB production capacity of the company to meet quickly growing downstream demand and enhance its overall profitability.