Every AI newsletter, investors ask on the investor interaction platform: why is there no rare earth permanent magnet material in your company’s income composition?
Lingyi Itech (Guangdong) Company(002600) (002600. SZ) said on the investor interaction platform on January 7 that the company’s magnetic materials business mainly covers magnetic materials such as permanent ferrite and soft ferrite. Its products are sold to many countries and regions, including China, Hong Kong, Taiwan, Japan, Europe, the United States and other places, supporting world-famous motor manufacturers and electronic device manufacturers. The company’s magnetic material business will use rare earth related raw materials, but the company has no rare earth business and revenue. The revenue of the company’s material business in 2020 is 1.116 billion yuan.
(source: Daily Economic News)
