Chengdu Galaxy Magnets Co.,Ltd. Reports Earnings Results for the Nine Months Ended September 30, 2021
October 27, 2021 at 02:24 pm IST
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Chengdu Galaxy Magnets Co.,Ltd. reported earnings results for the nine months ended September 30, 2021. For the nine months, the company reported sales was CNY 625.03 million compared to CNY 437.95 million a year ago. Revenue was CNY 625.03 million compared to CNY 437.95 million a year ago. Net income was CNY 149.68 million compared to CNY 109.89 million a year ago. Basic earnings per share from continuing operations was CNY 0.46 compared to CNY 0.34 a year ago. Diluted earnings per share from continuing operations was CNY 0.46 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.