The company plans to raise approximately RMB 818 million in this IPO, which will be used for the highperformance NdFeB industrialization project, the intelligent transformation project of the highperformance rare earth permanent magnet material production line, the upgrade and transformation project of the highperformance rare earth permanent magnet material research and development center, the annual production of 3,000 tons of highperformance NdFeB for new energy vehicles, and to supplement working capital.
In general, after years of development, Tianhe Magnetic Materials has become hong kong phone number list s a domestic advanced highperformance rare earth permanent magnet material provider. However, the company's performance has fluctuated in recent years. Affected by fierce competition in the industry, the gross profit margin of the company's main business has been on a downward trend.
It is said that "King Ning" plans to raise 35 billion in Hong Kong. A shares are on average 101% more expensive than Hong Kong stocks!
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There is another big news about Ashare companies going public in Hong Kong!
On December 19, Bloomberg quoted people familiar with the matter as saying that CATL is considering listing in Hong Kong, which may raise at least US$5 billion. This would be the largest listing in Hong Kong since early 2021.