Advanced Technology & Materials Co., Ltd. (AT&M)

Sintered NdFeB (neodymium-iron-boron) rare-earth permanent magnets, including grain-boundary-diffusion high-coercivity grades, for automotive and industrial motors, alongside AT&M's other core businesses in powder metallurgy materials, tungsten-based materials, amorphous and nanocrystalline soft magnetic materials, and specialty steels. Public disclosures describe AT&M's magnet line as NdFeB only; no public source confirms SmCo production.

At a glance

Founded: 1998 — Founded in 1998 as a spin-off of the Central Iron and Steel Research Institute (CISRI); listed on the Shenzhen Stock Exchange in 2000 under ticker 000969.
Headquarters: Beijing, China, with a rare-earth permanent-magnet production presence at Baotou, Inner Mongolia through its Antai Beifang joint venture
Ownership: Central state-owned enterprise. Controlling shareholder is China Steel Research Technology Group Co., Ltd. ("CISRI Group"), which is directly administered by the State-owned Assets Supervision and Administration Commission (SASAC) of China's State Council. Publicly listed on the Shenzhen Stock Exchange (000969).
Stage: Mature. More than 10,000 t of sintered NdFeB shipped in 2024 on about 12,000 t/yr of capacity.
Listing: Shenzhen: 000969
Revenue: Not publicly disclosed. This company does not publish revenue and no named third party has published an estimate of it.
AT&M is a diversified central state-owned enterprise reporting FY2025 group-wide revenue of RMB 7.932 billion (up 4.73% year over year) and net profit of RMB 364.88 million (down 2.02%), across three business divisions (powder metallurgy materials and products, advanced functional materials and devices, and high-quality specialty steel and welding materials). H1 2026 group revenue was RMB 5.176 billion (up 39.34%) with net profit of RMB 244 million (up 30.12%). The FY2025 annual report discloses rare-earth permanent magnet unit revenue of RMB 1.961 billion separately; the group total is not attributed to the magnet business.

Capacity

Each date below links to the document the figure came from. A capacity figure with no source is not on this page.

What	Figure	Status	As of
Sintered NdFeB, company-wide nameplate capacity, self-reported, including the Antai Beifang joint venture	approximately 12,000 t/yrThe company describes this project as ramping toward design output as of February 2026.	Operating	Feb 2026
Antai Beifang high-end rare-earth permanent magnet joint venture with China Northern Rare Earth, Baotou	5,000 t/yrReported still ramping up as of this date.	Commissioned	Feb 2026
Sintered NdFeB capacity, as stated in AT&M's 2024 annual report	exceeded 10,000 tonsIt is not clear from public sources whether this figure represents nameplate design capacity or actual output reported under a capacity heading.	Operating	2024

Narrative

Advanced Technology & Materials Co., Ltd. (AT&M), stock code 000969 on the Shenzhen Stock Exchange, is a Beijing-headquartered central state-owned enterprise controlled by China Steel Research Technology Group, itself administered by China's State Council SASAC. Founded in 1998 as a spin-off of the Central Iron and Steel Research Institute and listed in 2000, AT&M is a diversified advanced-materials platform spanning powder metallurgy, tungsten materials, specialty steel and welding consumables, environmental services, and rare-earth permanent magnets. Its NdFeB magnet business carried roughly 12,000 t/yr of company-wide nameplate capacity as of February 2026, including a 5,000 t/yr high-end joint venture, Antai Beifang, formed with China Northern Rare Earth at Baotou, Inner Mongolia, reported to still be ramping up production at that time. AT&M's own 2024 annual report separately describes NdFeB production capacity exceeding 10,000 tons for that year. Group-wide FY2024 revenue was RMB 7.573 billion with net profit of RMB 372 million, but AT&M does not publicly break out revenue specific to its magnet business.

Where public sources disagree

Capacity figures differ by date and framing: a February 2026 disclosure cites approximately 12,000 t/yr company-wide, with the 5,000 t/yr Antai Beifang joint venture still ramping, while AT&M's 2024 annual report separately states NdFeB capacity "exceeded 10,000 tons" for that year. It is not clear whether the 2024 figure is nameplate capacity or actual output reported under a capacity heading, a known ambiguity in Chinese company disclosures of this kind.
No public source distinguishes a 2024 shipment volume from the capacity figures above; a claim of more than 10,000 tons shipped in 2024 could not be independently confirmed as distinct from the capacity figure.
No public AT&M source confirms or denies SmCo magnet production; company materials and the 2024 annual report reference NdFeB only, so SmCo capability should be treated as unconfirmed rather than absent.
AT&M's FY2025 annual report discloses business-unit figures for its rare-earth permanent magnet unit: revenue RMB 1.961 billion, net profit RMB 96.16 million, new contracts RMB 2.212 billion. The amorphous business sits in a separate unit and is not in that figure. This is an internal business-unit disclosure rather than an audited reportable segment, and it is not NdFeB-only at product level. The H1 2026 interim does not isolate magnets: they sit inside advanced functional materials and devices at RMB 1.900 billion, which is not a magnet figure.
The capacity figures used here come from an investor-relations disclosure (SMM) and the company's own annual-report summary via a trade publication, not directly from an itemized capacity table in an audited regulatory filing.

Sources

AT&M capacity and Antai Beifang joint-venture disclosure — SMM (Shanghai Metals Market) (2026-02-27)
AT&M 2024 annual report summary — China Powder Network (2025)
AT&M FY2024 revenue and net profit, segment split — Sina Finance (2025-03-27)
Company overview — AT&M / Antai e-marketing (2026-09)

How this page is sourced

Everything here comes from public sources — company filings, annual reports, exchange announcements, government releases and trade press. Every figure is linked to the document it came from and carries the date that document was published, because a capacity number without a date is not a fact, it is a rumor with a decimal point.

What is deliberately absent: material nonpublic information. I have spent more than two decades in this industry and a good deal of what I know about these companies I learned under NDA. Those obligations do not expire and they do not bend for a website. Nothing I have been told in confidence appears here in any form, and nothing on this page — or missing from it — should be read as a signal about what I know privately. I hold NDAs absolutely. It is the reason clients tell me things.

Judgment is the other thing left out on purpose. This page reports what has been published and who published it. Whether a target is credible, whether a ramp will hold, whether a capacity figure survives contact with the plant behind it — that is the work I do for clients, and it does not belong in a free reference page.

Where public sources disagree, I say so rather than picking a winner. Where a figure has not been published, the field says so rather than carrying an estimate. An empty field is information too.

Public filings tell you what a company has said. Whether it holds up is a different question, and the one I get hired to answer.

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