IPO News: Ningbo Yunsun (600366.SH) submits application to Hong Kong Stock Exchange

According to the Hong Kong Stock Exchange disclosure on June 15th, Ningbo Yunsheng Co., Ltd. (referred to as Ningbo Yunsheng (600366.SH)) has submitted an application to list on the Hong Kong Stock Exchange main board, with CICC as the exclusive sponsor. The prospectus shows that Ningbo Yunsheng is a supplier of neodymium-iron-boron permanent magnets and, according to Zhongshi Consulting, is one of the few companies in China with a complete set of technologies for the preparation of neodymium-iron-boron permanent magnets, covering a wide range of downstream application markets. The company has significantly improved the quality and production capacity of magnetic materials by independently developing and improving the entire production process equipment and mastering advanced preparation technology. As of the last practicable date, the company has an annual production capacity of 26,000 tons of neodymium-iron-boron permanent magnet billets, making it one of the world's largest rare earth permanent magnet manufacturers.