Li Ping completed the acquisition of a 88.5% stake in Leshan Yinheyuan Magnetic Powder Co., Ltd. from Chengdu Galaxy Magnets Co.,Ltd. for CNY 7.1 million.
September 25, 2022
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Li Ping entered into letter of intent to acquire 88.5% stake in Leshan Yinheyuan Magnetic Powder Co., Ltd. from Chengdu Galaxy Magnets Co.,Ltd. (SZSE:300127) for CNY 7.08 million on August 2, 2022. Chengdu Galaxy Magnets board of directors will be responsible for signing the relevant agreement on the equity transfer with Li Ping.
Li Ping completed the acquisition of a 88.5% stake in Leshan Yinheyuan Magnetic Powder Co., Ltd. from Chengdu Galaxy Magnets Co.,Ltd. (SZSE:300127) for CNY 7.1 million on September 29, 2022.
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.
Li Ping completed the acquisition of a 88.5% stake in Leshan Yinheyuan Magnetic Powder Co., Ltd. from Chengdu Galaxy Magnets Co.,Ltd. for CNY 7.1 million.
CHENGDU GALAXY MAGNETS CO.,LTD. 
