SCGC New Energy and Jinlong Rare Earth deepen cooperation and jointly expand the new territory of the permanent magnet materials industry

In August 2024, Fujian Province Jinlong Rare Earth Co., Ltd. established a wholly-owned subsidiary Jinlong Rare Earth (Baotou) New Materials Co., Ltd. to invest in the construction of a 5,000-ton/year (first phase) high-performance Nd-Fe-B magnetic material project in Baotou Rare Earth High-tech Zone, Inner Mongolia Autonomous Region. Our company has had many exchanges with Jinlong Rare Earth on this project, and further reached new cooperation intentions on the basis of existing cooperation. Recently, good news has finally arrived.

On March 31, 2025, the two parties signed a contract for the on-site nitrogen production project of 2000m3/h.

This cooperation project mainly serves the production of permanent magnet materials for "Jinlong Rare Earth (Baotou) Company" and helps customers successfully put into operation the 5000-ton high-performance NdFeB project. Permanent magnet materials are the most widely used rare earth new materials, with output value accounting for more than 70% of all rare earth new materials. With the development of new energy vehicles, humanoid robots and other industries in recent years, their output has grown at an average annual rate of more than 15%; and permanent magnet motors have the significant advantages of small size, small loss, and high efficiency. With technological advancement, their market share will also increase; It is mainly used in modern new energy vehicles, humanoid robots, high-end wind power generation, 3C products, energy-saving motors, energy-saving home appliances and other fields.

This joint venture is the fourth project of cooperation between "SCGC" and "Xiamen Tungsten Group", and the third project of cooperation between "SCGC" and "Jinlong Rare Earth". Since the first cooperation between the two sides in 2017, they have trusted each other, helped each other, and win-win cooperation have gradually become strategic partners worthy of mutual trust. I believe that on the way forward in the future, the two sides will reach more cooperation point-to-line and line-to-surface, and work together on the new blueprint.

Working together again is not a chance choice, but a bridge of trust and a partner in pursuing dreams.