Chengdu Galaxy Magnets Co.,Ltd. Reports Earnings Results for the Nine Months Ended September 30, 2020
October 27, 2020 at 03:52 am
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Chengdu Galaxy Magnets Co.,Ltd. announced earnings results for the nine months ended September 30, 2020. For the nine months, the company announced sales was CNY 437.947 million compared to CNY 443.976 million a year ago. Operating income was CNY 130.886 million compared to CNY 130.934 million a year ago. Net income was CNY 109.891 million compared to CNY 110.503 million a year ago. Basic earnings per share from continuing operations was CNY 0.34 compared to CNY 0.34 a year ago.
Chengdu Galaxy Magnets Co Ltd is a company mainly engaged in the research and development (R&D), production and sales of Boned NdFeB rare earth magnet components and parts. The Company is also engaged in the R&D, production and sales of samarium cobalt magnets and hot pressed NdFeB magnets. The Bonded NdFeB magnets are mainly used in automobile motors, pump motors and rotor components of various permanent magnet brushless direct current motors. The samarium cobalt magnets are mainly used in military equipment, aerospace, automation control, automobile, communication and other industries. Hot pressed NdFeB magnets are mainly used in automobile motors, electric tools, servo motors and other high-efficiency and energy-saving motor fields. The Company's products are sold to many countries and regions.
CHENGDU GALAXY MAGNETS CO.,LTD. 
