Ningbo Yuanchen New Materials Co., Ltd., established in 2003, is recognized as a Specialized and Sophisticated SME and a National High-tech Enterprise. The company hosts a Municipal Key Research Institute, a Provincial High-tech Enterprise R&D Center, and a Provincial Enterprise Research Institute platform. It employs over 50 R&D personnel, with dedicated R&D equipment originally valued at more than RMB 21 million and a dedicated R&D floor area of 1,100 m². In 2024, the company was listed on the Ningbo Equity Trading Center. It has established a long‑term industry‑university‑research strategic cooperation with the Ningbo Innovation Institute of Beihang University, set up a doctoral innovation workstation, co‑built a joint laboratory, and founded a technology incubation company.

      The company currently holds 13 authorized invention patents and 37 utility model patents, with 11 patents filed for patent-intensive products. It has participated in the formulation of 4 national standards and 2 group standards. Four of its products have been certified as Provincial Industrial New Products, with related technologies reaching advanced domestic and international levels, contributing to domestic substitution and strengthening the industrial supply chain.

      In recent years, the company has achieved remarkable results in product technology development. Its high‑performance NdFeB magnets for inverter air‑conditioner compressors have been awarded the “Zhejiang Made” certification mark and have been included in the District “Quality Industrial Products Catalogue,” the Municipal “Quality Products Catalogue,” and the National “New Quality Productive Forces Scientific and Technological Innovation Achievement Pool.” Its high‑performance CeFeB permanent magnets have been recognized as a major scientific and technological achievement of Zhejiang Province’s “Two New” (New Technology & New Product) program, and have been listed among the provincial key cases for new industrial products and the promotion and application catalogue, as well as the pilot achievements of the National Key R&D Plan industrialization project, and also won the second prize in the Tungsten and Rare Earth category of the 14th China Innovation and Entrepreneurship Competition. Its high‑performance automotive actuator magnets have been certified as an advanced technological innovation achievement of Zhejiang Province.