According to Zhito Finance APP, on December 20, Tianhe Magnetic Materials (603072.SH) opened for subscription, with an issue price of 12.30 yuan per share, a subscription limit of 0.026 million shares, a PE of 20.13 times, listed on the Shanghai Stock Exchange, and Shanhong Securities as its sponsor (lead underwriter).

The prospectus shows that Tianhe Magnetic Materials mainly engages in the research, production, and sales of high-performance Rare Earth Permanent Magnets such as sintered NdFeB and sintered SmCo. Over the years, the company has adhered to the mission of "Customer First, Clean World, Magnetic Future" and the corporate vision of "Becoming the Leader in High-Performance Permanent Magnet Materials Innovation," focusing on high-quality products, high-end customers, efficient production, and low-resource consumption in its operations. It insists on implementing the Technology-driven Corporate Strategy, maintaining high-intensity research and development investment, and has achieved several significant results in key technological processes such as multi-component regulation, grain refinement, molding and pressing, and grain boundary diffusion.

The company’s core technology is self-controllable, continuously promoting product innovation, process reform, and equipment upgrades. Core equipment such as the independently developed single-forming press has realized import substitution, and the management's lean production, degree of automation, and comprehensive magnetic properties, corrosion resistance, and other core indicators of leading products have reached advanced levels in the country, effectively meeting the green energy, energy efficiency, component miniaturization, and lightweight equipment needs in downstream application fields.

Internationally, China has become a major production and export hub for Global Rare Earth Permanent Magnets, demonstrating strong industrial competitiveness. In 2019, China's export value of Rare Earth Permanent Magnet products to the US continued to grow, reflecting the market position and international competitiveness of China's related industries. According to a 2022 report by the US Department of Energy titled 'Deep Assessment of Rare Earth Permanent Magnet Materials Supply Chain,' China's share of the global market for sintered NdFeB manufacturing in 2020 was 92%, followed by Japan at 7%, with countries like the US and Germany accounting for less than 1%.

According to Statistics from the CHINA RAREEARTH Industry Association, in 2022, the national output of sintered NdFeB rough products was 0.252 million tons, with Inner Mongolia's output being 0.0298 million tons, accounting for 11.83% and making it an important production base for Rare Earth Permanent Magnets in China. According to the Inner Mongolia Rare Earth Industry Association's statement, the company was recognized as the strongest Rare Earth Permanent Magnet enterprise in the region for the years 2020 and 2021, with the highest market share in the NdFeB market. In 2023, the company had approximately 21.5% of the market share in the sintered NdFeB industry in the region, ranked first.

In terms of finance, from 2021 to 2024 (January to June), Tianhe Magnetic Materials achieved revenue of approximately 1.825 billion yuan, 2.885 billion yuan, 2.651 billion yuan, and 1.267 billion yuan, respectively, during the same periods net income was approximately 0.143 billion yuan, 0.223 billion yuan, 0.169 billion yuan, and 65.5739 million yuan.