Rare earth permanent magnet material application device manufacturer YingSite (301622.SZ) plans to initially public offer 28.983 million shares.

(301622.SZ) disclosed its intention to issue an IPO, with the company planning to publicly issue 28.98297 million shares for the first time. The preliminary inquiry date is November 18, 2024, and the subscription date is November 22, 2024. The announcement shows that the company is a high-tech enterprise mainly engaged in the research and development, production, and sales of rare earth permanent magnetic materials application devices. The company focuses on the development of terminal application technology of magnetic devices, providing customers with comprehensive solutions such as magnetic circuit design, precision processing, surface treatment, and intelligent assembly. According to the demands of end customers for new products in terms of functionality and design, the company participates in the development of new products of magnetic devices simultaneously, providing complete technical support for the design, trial production, testing, and optimization of magnetic devices. The main products of the company include single magnet application devices and magnetic component application devices, which are used in laptop computers, tablets, smartphones, electronic accessories, smart home products, etc. From 2021 to 2023, the net profit attributable to the owners of the parent company was 128 million yuan, 199 million yuan, and 138 million yuan, respectively. It is reported that the proceeds from this fundraising will be invested in the expansion project of high-end magnetic materials and components for consumer electronics and new energy vehicles, the construction project of the research and development center, the construction project of the smart factory 4.0 platform, and the supplement of working capital. The total amount of funds to be invested in the fundraising is 606 million yuan.