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                Hengdian EastMagnet increased net profit by 13.27% in 2018
                Wang.C.S  2019.03.07



                On February 28, Hengdian Eastmagnet issued its annual report in 2018. Quoted from the report, the company realized 6.489 billion yuan in revenue, an increase of 3.04% year-on-year, contributed by growing sale of magnetic materials and solar photovoltaic products.

                The total operating profit and profit of the company increased by 12.71% and 13.74% respectively compared with the same period of last year. The net profit attributable to shareholders of listed companies increased by 13.27% compared year-on-year. The main reason is that the company has further expanded the market space by promoting the development of new products, new fields and new customers, and increased the income proportion of high-end customers, thus enhancing the profitability.

                Hengdian Group Eastmagnet Co., Ltd. successfully listed on the Shenzhen Stock Exchange in August 2006. Hengdian Eastmagnet is a high-tech private enterprise with three major industries: magnetic materials, new energy and devices. It is the leading enterprise in the magnetic industry in China. At present, it is the largest permanent magnet ferrite manufacturer in the world and the largest soft magnetic material manufacturer in the world.
                 
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                HongDa Industrial plans to invest rare earth new materials processing and application project in Baotou

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