Chengdu Galaxy Magnets Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2020
April 24, 2020 at 03:39 am EDT
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Chengdu Galaxy Magnets Co.,Ltd. announced earnings results for the first quarter ended March 31, 2020. For the first quarter, the company announced sales was CNY 137.195 million compared to CNY 151.252 million a year ago. Operating income was CNY 41.682 million compared to CNY 44.076 million a year ago. Net income was CNY 34.830 million compared to CNY 37.150 million a year ago. Basic earnings per share from continuing operations was CNY 0.11 compared to CNY 0.12 a year ago.
Chengdu Galaxy Magnets Co Ltd is a company mainly engaged in the research and development (R&D), production and sales of Boned NdFeB rare earth magnet components and parts. The Company is also engaged in the R&D, production and sales of samarium cobalt magnets and hot pressed NdFeB magnets. The Bonded NdFeB magnets are mainly used in automobile motors, pump motors and rotor components of various permanent magnet brushless direct current motors. The samarium cobalt magnets are mainly used in military equipment, aerospace, automation control, automobile, communication and other industries. Hot pressed NdFeB magnets are mainly used in automobile motors, electric tools, servo motors and other high-efficiency and energy-saving motor fields. The Company's products are sold to many countries and regions.
CHENGDU GALAXY MAGNETS CO.,LTD. 
