Ningbo Yuanchen New Material Co., Ltd. is located in the northeast of Ningbo, the world's fourth largest port city. It was established in 1983 and is one of the earliest enterprises engaged in the production of magnetic materials and products. It has more than 200 employees and covers an area of 2 5,000 square meters, construction area of 20,000 square meters. Since its establishment, the company has been committed to the research, development and mass production of high-performance rare earth permanent magnet materials and their surface treatment. The company is equipped with international advanced production equipment and testing instruments. The existing sintered NdFeB capacity is 1,000 tons/year.

At present, the company's products are exported to Europe, North America, South America, Southeast Asia, Korea and Japan. Among them, export sales accounted for 80%. Products are mainly used in the field of high-end motors, consumer electronics, medical and clean energy.