Yantai Zhenghai Magnetic Material Co., Ltd. (shorted as ZHmag) (300224.SZ) issued 2011 performance predictions report, according to which, the net profit attributable to the shareholders of the listed company increased by about 98.84% YoY to be RMB209 million.

The company's performance widely grew in 2011, mainly because the output and sales volume of major products increased greatly, and some products tended to be high-ended and achieved higher gross margin.

The producing capacity for high-performance NdFeB is 3,500 tons in 2011, of which about 70% is used for wind power equipments and energy conservation elevator products. The high-performance NdFeB expanding project for high-efficient and energy conservation compressor (also called ‘the third period of the project), is predicted to put into operation in the second quarter 2012. Till 2013, the producing capacity for high-performance NdFeB will be expected to reach 6,300 tons, together with the 2,000 tons high-performance NdFeB expanding project invested with IPO raised funds.

High-performance NdFeB Capacity of ZHmag, 2011 (ton)

Source: ZHmag, Researchinchina