On June 9, 2022, Ling Yuefeng, the representative of the Management Committee of the Yangtze River Delta (Huzhou) Industrial Cooperation Zone, and Bao Jinsheng, the representative of Zhejiang Sheenen Magnetic Technology Co., Ltd.,20,000 tons of high-performance rare-earth NdFeB permanent magnet production line project” agreement.

According to the agreement, the project will add new industrial land, mainly for new production plants. The project will achieve an annual output of 20,000 tons of high-performance rare earth NdFeB permanent magnet materials through the purchase of advanced production equipment and mature production processes. The total area of industrial land is about 150 mu. The ground will be supplied in two phases, 60 mu in the first phase and 90 mu in the second phase. The total investment in the project is about 1.2 billion yuan.

The signing of this project agreement shows that Sheensen Magnetic has muscular development strength. The site selection and expansion in Tianzi Hunan District of Changhe District show that Sheensen Magnetic complies with the management committee's industrial orientation, land, and space planning and meets construction planning requirements and environmental protection. In the future, Sheensen Magnetic will have a broader development prospect, make continuous progress, and promote the constant improvement progress and upgrading of the permanent magnet industry.