- Business
- Chengdu Galaxy Magnets Co., Ltd. Chengdu Galaxy Magnets Co., Ltd. (300127.SZ) manufactures rare earth permanent magnets and related components in China. The company produces bonded neodymium iron boron (NdFeB) magnets and assemblies; hot-pressed NdFeB magnets and assemblies; samarium cobalt (SmCo) magnets; injection-molded plastic-bonded magnets and assemblies; high-performance fast-quenching NdFeB magnetic powder; and permanent magnet alloy components, serving applications in motors, HDDs, CD-ROMs, automotive, consumer electronics, and industrial equipment. Chengdu Galaxy Magnets Co., Ltd. operates primarily from its headquarters in Chengdu, Sichuan province, with products exported to Japan, South Korea, the United States, Europe, and Taiwan, and sold to major customers including Nidec, Panasonic, MinebeaMitsumi, Sony, Bosch, Brose, LG, and Samsung. Founded in July 1993 and listed on the Shenzhen Stock Exchange Growth Enterprise Market in October 2010, the company established a wholly owned subsidiary, Chengdu Galaxy Magnetic Material Co., Ltd. , in March 2017 to expand production of SmCo and hot-pressed NdFeB magnets. Recent developments include the start of research, development, and production of injected plastic magnets in 2019; a proposed acquisition of 100% equity in Kyoto Ryutai announced in 2024 with trading suspension; plans to issue shares and pay cash for asset acquisitions and fundraising; and expectations of impacts from China's 2025 rare earth export controls on its export business, amid a strategic focus on samarium cobalt and hot-pressed magnets that comprised 9.47% of 2024 sales revenue.