Jinli Permanent Magnet (06680) plans to use its own capital to invest no more than 30 million yuan in Jinli Ningbo, a wholly-owned subsidiary

According to the Zhitong Finance App, Jinli Permanent Magnet (06680) issued an announcement to actively explore and invest in high-quality projects in line with the development strategy of Jiangxi Jinli Permanent Magnet Technology Co., Ltd. (hereinafter referred to as the “Company”) through the use of platform resources and investment capabilities of professional investment institutions to enhance the company's overall competitiveness. The company plans to increase capital by no more than 30 million yuan to the wholly-owned subsidiary Jinli Permanent Magnet (Ningbo) Investment Co., Ltd. (hereinafter referred to as “Jinli Ningbo Investment”) with its own capital and capital through Jinli Ningbo Investment to participate in the Jiaxing Golden Magnetic Smart Chain Venture Capital Partnership (limited partnership) [the final name is subject to commercial registration] (hereinafter referred to as “Jiaxing Golden Magnetic Smart Chain Fund”), with a subscription share of 55 million yuan. After the capital increase was completed, the registered capital of Jinli Ningbo Investment increased from 350 million yuan to 380 million yuan, and the company still holds 100% of its shares.

Relying on the resources and advantages accumulated by the company in the rare earth permanent magnetic materials industry chain, the company's industrial chain layout is further improved through cooperation with professional investment institutions to participate in industrial funds, promote healthy complementarity between the company's business operations and foreign investment, and enhance the company's overall competitiveness. At the same time, we make full use of the resource advantages, investment experience and perfect risk control systems of external professional investment institutions to help the company seize investment opportunities in a timely manner, reduce investment risks, improve the quality of the company's foreign investment, and create more value for the company and shareholders.