- Longci Technology: Wholly owned subsidiary Longci Q2 in Vietnam increases permanent magnet production capacity to 10,000 tons.

Xiong Yongge, the general manager of Longci Technology, stated at the performance briefing for the year 2024 held this afternoon that the expansion of production capacity at the Longci plant in Vietnam is currently underway. In the second quarter of this year, the production capacity of permanent magnets will increase to 10,000 tons. The soft magnetic factory in Thailand is also about to start construction, and once completed, the overseas soft magnetic production capacity will reach 8,000 tons. In the future, the company's soft magnetic industry chain will focus on technological upgrades and international layout. The company plans to rely on the advantages of Southeast Asia and other regions to establish localized production bases, optimize supply chain resilience, reduce the impact of trade barriers, and expand to Europe, America, and emerging markets.