GQD Special Material (Thailand)

A Thai joint venture in Rayong, 20% owned by Neo Performance Materials and described in Thai press as part of China's Ganzhou Qiandong rare earth group, that toll-converts neodymium oxide into metal for Neo's Magnequench powder plant in Korat.

Points to check

Facts from the sources on this page that a reader should weigh before relying on the company's own figures.

Neo's filings do not name GQD's majority owners; the Ganzhou Qiandong link rests on a June 2026 Lanner report.
No capacity, output or start-of-production date for the Rayong plant has been published.
Neo states that NPM Silmet, which supplies the neodymium oxide GQD converts, sources its rare earth feedstock from a Russian supplier (Neo MD&A, August 10, 2026).

At a glance

Founded: 2013 — Registered in Thailand on February 14, 2013 (14 Feb 2556 BE), registration no. 0105556029180, registered capital THB 165.79 million. Neo Performance Materials holds 20%; Thai press describes the other ownership as Chinese (Ganzhou Qiandong Rare Earth Group).
Headquarters: Pluak Daeng district, Rayong province, Thailand
Ownership: Private. Neo Performance Materials (TSX: NEO) holds 20% (Neo AIF). Lanner (June 2026) describes GQD as part of Ganzhou Qiandong Rare Earth Group; the remaining shareholders and percentages are not disclosed in Neo filings.
Stage: Mature. Neo has disclosed the GQD toll-conversion arrangement in its annual information forms since at least March 2020; the company was registered in February 2013 and is listed as operating.
Listing: Private. Privately held Thai joint venture; Neo Performance Materials (TSX: NEO) owns 20%. Thai press describes it as part of China's Ganzhou Qiandong Rare Earth Group, which is not listed.
Revenue: Not publicly disclosed. This company does not publish revenue and no named third party has published an estimate of it.

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
Rare earth metal (neodymium metal from oxide), Rayong	Not disclosed by Neo or GQD	Operating	Aug 2026

Narrative

GQD Special Material (Thailand) Co., Ltd. was registered in Thailand on February 14, 2013, with registered capital of THB 165.79 million and an address in Map Yang Phon, Pluak Daeng district, Rayong province; the Thai business registry lists it as still operating. Its registered objective covers producing and processing rare earth oxides, chemical and metal compounds, alloys and magnetic materials. Neo Performance Materials has described GQD in its annual information forms since at least March 2020 as a Thai joint venture in which Neo owns a 20% interest, operating a production facility in Rayong. Neo states that the main material its Magnequench business sources from its NPM Silmet plant in Estonia is neodymium oxide, which must be converted into metal before Magnequench can use it, and that the conversion is outsourced to GQD, a related third party, under a toll processing agreement. Neo's March 2025 annual information form adds that its Korat, Thailand operation sources material from NPM Silmet and third parties outside China. Neo's August 2026 interim MD&A states that the Silmet facility sources its rare earth feedstock from a Russian supplier. Neo's filings do not name GQD's other shareholders. A June 2026 Lanner investigation into Thailand's rare earth trade describes GQD as Chinese-owned and part of the Ganzhou Qiandong Rare Earth Group, a Jiangxi group founded in 1988 whose products include rare earth metals and alloys. No capacity, output, revenue or start-of-production date for GQD has been published by Neo or by GQD. Trade-aggregator records list GQD imports of rare earth compounds from 2022 to 2025, with Showa Denko Rare Earth and an SRE Vietnam entity among the counterparties.

Sources

Neo AIF 2025 — Neo Performance Materials (2025-03)
Lanner, Jun 2026 — Lanner (2026-06-18)
Neo AIF 2019 — Neo Performance Materials (2020-03-11)
Thai registry (Creden) — Creden Data
Neo Q2 2026 MD&A — Neo Performance Materials (2026-08-10)
REEx Thailand, Aug 2026 — Rare Earth Exchanges (2026-08-26)
Qiandong group profile — Ganzhou Qiandong (GQD) group
InvestorNews, Aug 2026 — InvestorNews (2026-08-04)
Trademo trade records — Trademo

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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