First application for Galaxy Magnet Gem Board approved for 41 million shares

Panorama August 16 China Securities Regulatory Commission announced in late Monday, in the gem of the Board of Auditors August 16 held the 50th meeting in 2010, Chengdu Galaxy Magnet Co., Ltd. 's first application was approved. Chengdu Galaxy Magnet Co., Ltd. This plan issued 41 million shares, after the issuance of the total share capital of about 162 million shares. The company has been specializing in bonded NdFeB magnet components and components of research and development, design, production and sales.　　The main products include: All kinds of CD-ROM drives, automotive micro-motor, hard drives and other electronic products with spindle motor magnets, stepper motor magnets, all kinds of permanent magnet brushless DC motor rotor components. The issuance of funds will be directed to the following two projects: High-precision, high purity hard disk with bonded NdFeB magnets expansion project and High-performance Automotive bonded NdFeB Magnet Expansion project, the total investment of 187 million yuan. (Panorama net/Chen Danyong)