Yantai Zhenghai Magnetic Material Co., Ltd. announced that it has received CNY 755 million in funding from Zhenghai Group Co., Ltd., China Great Wall Asset Management Corporation, Shandong State-Owned Assets Investment Holdings Co.,Ltd., SAIC Capital Company Limited, and another investor.
January 11, 2017
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On January 12, 2017, Yantai Zhenghai Magnetic Material Co., Ltd. (SZSE:300224) closed the transaction. The company incurred underwriting fee of CNY 12,000,000, other issuance fees and stamp tax of CNY 731,669.80, and value added tax of CNY 699,622.64 in the transaction. The shares will be listed on Shenzhen Stock Exchange as of March 15, 2017.
Yantai Zhenghai Magnetic Material Co., Ltd. is a China-based company principally involved in the manufacture of high-performance neodymium-ferrite-boron permanent magnet materials and research, development of new energy vehicle motor derive systems. The Company operates through two main segments. The Neodymium-ferrite-boron Permanent Magnet Materials segment is primarily engaged in the research, development, manufacture, distribution and services of neodymium-ferrite-boron permanent magnet materials, and its products include finished products, machine processed products and blanks. The New Energy Automobile Motor Drive Systems segment is engaged in the research, development, production and distribution of new energy automobile drive motors and its electronic control systems. The Company distributes its products within domestic market and to overseas markets.
Yantai Zhenghai Magnetic Material Co., Ltd. announced that it has received CNY 755 million in funding from Zhenghai Group Co., Ltd., China Great Wall Asset Management Corporation, Shandong State-Owned Assets Investment Holdings Co.,Ltd., SAIC Capital Company Limited, and another investor.
YANTAI ZHENGHAI MAGNETIC MATERIAL CO., LTD. 
