Xiamen Tungsten: The affiliated company Baotou Jinlong's 5000-ton high-performance neodymium iron boron magnetic material project has been completed and put into operation.

Xiamen Tungsten Industry announced that the 5,000-ton high-performance neodymium iron boron magnetic material project established by Baotou Jinlong Investment, a wholly-owned subsidiary of the company's controlling subsidiary Jinlong Rare Earth, has completed all preparations and started production. The project is expected to have a total investment of 462 million yuan and the products will mainly be used in wind power generation, 3C products, and energy-saving motors. After the project reaches full production, the company's magnetic material business's semi-finished capacity will increase to 20,000 tons. However, it should be noted that it will take some time for the project to go from trial production to full production, and there are investment risks.