Zhitong Finance App News, Dragon Magnetic Technology (300835.SZ) announced that up to now, the first phase of the “10,000 ton high-performance wet pressure magnetic tile automatic production line project” and the “15,000 ton permanent magnet ferrite dry pressure anisotropic powder project” have been completed. Production capacity of 5,000 tons/year of wet pressure magnetic tiles and 5,000 tons/year of dry pressure isomeric powder was initially formed and put into operation. A total investment of 101.15 million yuan in fixed assets and intangible assets has been completed. Construction will continue until the project reaches the planned production capacity.

The projects suspended by the company are the “Project with an annual output of 20 million brushless electronic commutators” and the “High-end Stator Case Production Line Project with an annual output of 30 million units”. According to reports, the “project with an annual output of 20 million brushless electronic commutators” and the “high-end stator case production line project with an annual output of 30 million units” mainly provide related support for the company's motor magnetic tile customers to enhance business collaboration capabilities. The above projects have been set up for more than a year. Due to the impact of the objective market environment and investment environment, construction has not yet started. The company carried out a new study and evaluation. It is believed that according to the current market environment and the company's business situation, the project currently differs greatly from expectations in terms of investment efficiency, etc., and based on the principle of prudence to better protect the interests of the company and investors, the company plans to suspend the construction of the “20 million brushless electronic commutator projects per year” and the “high-end stator case production line project with an annual output of 30 million units”.