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Zhenghai Magnetic Materials Sees Soaring Profits Amid New Energy Vehicle Boom and Rare Earth Market Fluctuations

Zhenghai Magnetic Materials, a prominent player in the magnetic materials sector, recently unveiled their 2022 performance report, demonstrating impressive growth. The firm's total operating income surged by 87.52% to CNY 6.32bn year-on-year. This remarkable increase also extended to the company's operating profit, net profit, and earnings per share.

The impetus behind Zhenghai's success stems from the swift expansion of new energy vehicles, coupled with a rise in sales of high-performance neodymium-iron-boron (NdFeB) permanent magnet materials. Furthermore, escalating product prices contributed to a significant uptick in both revenue and profits compared. . .

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