Company profile

    Yantai Shougang Magnetic Material Co., Ltd. is operating a national project, which is high performance NdFeB permanent magnetic material industrialization example project. It is important that the project was examined and approved by China Nation Development and Plan Committee.

    Company is the joint ventures of six shareholders who are Yantai Dongxing (Group) Co., Ltd., Beijing Shougang Co., Ltd., China High-tech Investment Group Company, Yantai Magnet-king Group Co., Ltd., Baotou Rare-earth Research Institute and Yantai Fushan National Capital Operation Company. The registered capital is RMB59 million.

    Company is located in Fushan High-tech Industrial District Yantai City Shandong Province. Total investment is RMB 98.89 million. It covers a total area of 40,000m².

    In a word, our company is a high-tech enterprise. It dedicates to research, develop and produce high-energy NdFeB magnet.

    Yantai Dongxing (Group) Co., Ltd. is subordinate to Shougang General company. It is located at No. 20 Zhujiang Road, Yantai Economic and Technical Development Zone. It descended from a war industry works under former Ministry of Weaponry. The fixed asset is RMB 350 million. It covers a total area of 240,000 m². No.Of employee is 2663 including more than 500 professional technicians. There are 1500 plus sets of equipment of process, forging and pressing and trial. Company includes one joint venture combined Japan Denso, one interior enterprise, and 8 independent managing unit (company and factory) .In 1999, sales turnover is RMB 340 million, profit and taxation is RMB 22.218 million. Company has been awarded ISO 9002 qualification in 1998. Main products are auto air conditioner system (30% of products exported to Southeast Asia), auto connectors (exported to France and Germany), petroleum shutting bullets shell, hardener-alloyed products, special restoration (recommended Switzerland technology), and so on. Company is the holding company of YSM for its investment proportion is 31.09%.

    It is Shougang General Company that has founded solely the company. The total capitalization is 2.31 billion. Company includes seven factories, they are cooking factory, sintering factory, the second iron works, the second steel mill, and the 1^st, 2^nd, 3^rd wire factory etc. It obtains the full course of iron steel production. The scope of management includes steel smelting, steel drawdown rolling, copper smelted drawdown rolling process and sale, sintering deposit, cooked, chemical industry product manufacturing, surplus pressure of blast furnace generated electricity, coal gas production and sale, industry production discarded object process and sale, metallurgy development, technology advice, technology transfer, technology service. The main products are all sorts of wire and special use steel. It is the biggest wire production foundation home. The annual capacity of producing wire is 13.2 million ton. Corporation has been awarded ISO 9002 qualification. Its investment proportion is 25.43%.

    China High-tech Investment Group Company is a big comprehensive investment company, which belongs directly to nation, with the purpose of promoting chinese high-tech industry. The registered capital is RMB800 million. Total asset reaches to RMB2.1 billion. It is subordinate to Central Enterprise Working Committee.

4.Yantai Magnet-king Group Co., Ltd.

    Yantai Magnet-king Group Co., Ltd. is provincial high-tech enterprise. Company professionally produces high performance NdFeB permanent magnetic material and magnetic instrument. The registered capital is RMB10.5 million and the fixed asset is RMB15.2 million.

    Baotou Rare-earth Research Institute is attached to Inner Mongolia Rare-earth Group. It is comprehensive research institute, which is professionally engaged in researching, developing and application of rare earth. Total No.of employee is 697. No.of engineer is 330. There are 57 engineers who own high-grade title of a technical or professional post and 157 who own middle-grade title. Among them, 21 engineers enjoy government allowance. Having started researching and developing Rare-earth permanent magnet from 1970’s, the institute has succeeded to research and develop the 1^st, 2^ndand 3^rd generation permanent magnet. It has completed the national key research of the 6^th, 7^th and 8^th of the Five Years Plan. Sample which energy product is 52.2MGOe has been got in the laboratory. In 1996, the institute provided 430 kg magnets((BH)_max=48±2MGOe)to AMS space experiment item presided by the famous scientist, Prof. Ding Zhao-zhong, an American citizen and overseas Chinese. This is an indication that high performance NdFeB magnet of our country stepped from laboratory to industry.

Company management

    Company is normally operating according to the management system of modern enterprise through shareholder meeting, directorate, control commission and managers group so as to strengthen the supervise of the item through police decision, monitor and management performance system, which make a sound ground for ensuring the prosperous performance of the item and realizing the due aim. During the course of management, philosophy based on giving priority to personnel and improving foundational quality of stuff is further raised. Employees whose education level is over undergraduate are more than 35% of total employees.

Company developing plan

    The total area of factory is 40,000m², of which the construction area covers 12,000m² including office building, main workshop, workshop of analyzing, monitoring physically and chemically, of surface solving, and of inspecting and packing. The area of 5000m² is leaved for the future developing. On the first stage there will be 150 employees, the productive capacity will reach 300 ton per year and annual sales turnover will be RMB120 million. Workers in the process will finish the training on technique before the end of August, and operating technicians will finish the training before the end of October 2001. All-lines equipment will be completed to install and debug before the end of December 2001. On the second stage there will be 300 employees, the productive capacity will reach 600 ton per year and annual sales turnover will be RMB250 million.

The generalization of item

1.Company began to found in January 2000.

2.Construction of the factory started building on September 16^th, 2000.

3.Abroad manufacturers of equipments were finished inspecting on September 22^nd, 2000.

4.On October 12^th, 2000, all registered capital was got, the company was completed to register, and the license was solved.

5.In December 2000, main imported equipments were finished bidding and negotiating on trade and technique, contracts were signed with the manufacturers of USA, Japan and Germany.

    The above mentioned product line was delegated the national high-tech industrialization example project. Completion of the whole product line will finish the history that Chinese enterprise can’t stably product high performance NdFeB, make full use of our country’s abundant rare-earth resource, and devote to realizing national developing strategy: resource priority is transferred to economic priority. Imported products will be replaced with our products. It will thoroughly break the situation monopolized for many years by few abroad manufacturers in the market of high performance NdFeB in China.