The magnetic material of North mine was continuously reduced by holding shareholder

Benefiting from the market in pursuit of the concept of rare earth magnets and the soaring stock price of the North Mine Magnetic material (600980) was controlled by the east of the large reduction. The company announced that October 29, the company received a controlling shareholder of Beijing Mining and Metallurgy Research Institute notice, the hospital on October 28, 29th through the Shanghai Securities Exchange System Total reduction of the company's unlimited sales conditions of the circulation of 5.1161 million shares, accounting for the company's total share capital of 3.94%.　　After the reduction, Beijing Mining and Metallurgy Research Institute holds 57.9556 million shares of the company, accounting for 44.58% of the total equity, still for the company's controlling shareholders.　　The data show that the Beijing Mining and Metallurgy Research Institute in the previous six months has been reduced north mineral magnetic material stocks 1.3839 million shares, accounting for 1.06% of the total share capital, so far the General Institute of Mining and Metallurgy in Beijing has been reduced holdings of North mine magnetic material company shares up to 5%. It is noteworthy that the Beijing Mining and Metallurgy Research Institute of the reduction has not been the intention of the retreat.　　According to the bulletin, the Beijing Mining and Metallurgy Research Institute of the North Ore magnetic materials to reduce the purpose is to raise the General Institute of Mining and Metallurgy by reducing the funds needed in the next 12 months, mining and Metallurgy General Hospital will not completely eliminate the possibility of reduction. Market data show that the North Mine magnetic materials benefited from the concept of rare earth permanent magnets, its share price from the beginning of this year, the highest soared to 41.08 yuan yesterday, up 267%.