Yantai Zhenghai Magnetic

High-performance sintered NdFeB permanent magnet materials and assemblies. Disclosed end markets are new-energy vehicles and automotive electrification, intelligent equipment including humanoid robots and low-altitude aircraft, consumer electronics, energy-efficient appliances including variable-frequency air conditioning, and wind power. The company applies grain boundary diffusion under the name THRED and a grain optimization technology branded TOPS, and markets heavy-rare-earth-free, low-heavy-rare-earth and ultra-low-rare-earth magnet lines.

At a glance

Founded: 2000 — Founded 6 April 2000 and listed on the Shenzhen ChiNext board on 31 May 2011 under code 300224. The founding date comes from a Chinese financial-data profile rather than a primary filing; the FY2025 annual report refers only to more than twenty years.
Headquarters: Yantai, Shandong, China, with a second production base at Nantong, Jiangsu
Ownership: Listed on the Shenzhen ChiNext board, code 300224. Largest shareholder at 31 December 2025 is Zhenghai Group at 36.86%. The chairman concurrently serves as chairman and general manager of Zhenghai Group.
Revenue: CNY 7.03 billion, up 26.93% year on year
Reported, FY2025, calendar year ended 31 December 2025.
Net profit attributable to shareholders was CNY 307.4 million, up 232.85%. NdFeB magnets and components were 99.94% of revenue; overseas sales were 26.63%, up 42.59%. The figure is CNY 7.03 billion, not CNY 70 billion: several English aggregators mis-scale it because Chinese filings report in units of 100 million.
Source

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, Yantai base — existing capacity	18,000 t/yr	Operating	Dec 2025
Sintered NdFeB, Nantong base — existing capacity	12,000 t/yr	Operating	Dec 2025
Total existing sintered NdFeB capacity; the annual report's capacity table shows no capacity under construction	30,000 t/yr	Operating	Dec 2025
Grain boundary diffusion, marketed as THRED — the company's last separate tonnage disclosure, from April 2023	over 20,000 t/yr, with a stated intention to reach 36,000 t/yr before 2026	Operating	Apr 2023
Share of product volume covered by grain boundary diffusion — a coverage rate, not a tonnage	approximately 85% of products; grain optimization technology coverage above 90%	Operating	Dec 2025

Narrative

Yantai Zhenghai Magnetic Material, listed on the Shenzhen ChiNext board as 300224, produces high-performance sintered NdFeB magnets and components at bases in Yantai, Shandong and Nantong, Jiangsu. Its FY2025 annual report puts existing capacity at 30,000 metric tons a year and reports revenue of CNY 7.03 billion, 99.94 percent of it from NdFeB magnets and components, with overseas sales at 26.63 percent. The company states its magnets went into more than 8 million energy-saving and new-energy vehicle motor sets in the year, up more than 40 percent. Grain boundary diffusion, which it markets as THRED, covers about 85 percent of its products. A legacy motor drive systems business remains on the books at 0.06 percent of revenue.

Where public sources disagree

The company holds ordinary rare earth export licenses, which it confirmed itself on the Shenzhen exchange investor platform in July 2025, and was named in May 2025 among at least six magnet makers granted them. It was not among the three companies reported in December 2025 to hold general export licenses. The two instruments are different and should not be conflated.
Grain boundary diffusion tonnage is the weakest-sourced item. The only separate THRED tonnages date from an April 2023 investor meeting reported in the press, not a filing; the FY2025 annual report gives only a coverage rate.
Whether the 30,000 t/yr is stated on a finished-magnet or a blank basis was not confirmed in the filing text, and Chinese magnet capacity is frequently quoted on a blank basis.
Capacity utilization figures extracted from the annual report did not agree with a broker report's 2024 figures and have been left out pending a manual read of the filing.
Older English profiles still describe Zhenghai as a motor drive systems company. That business was 0.06% of FY2025 revenue.

Sources

FY2025 annual report summary (Chinese) — Shenzhen Stock Exchange disclosure server (2026-03-31)
FY2025 annual report, full text (Chinese) — Filed via cninfo; retrieved from the QQ Finance filing mirror (2026-03-31)
At least six rare earth magnet firms granted export licenses, Zhenghai among them (Chinese) — Cailianshe via Sina Finance (2025-05-19)
Company reply on the Shenzhen exchange investor interaction platform confirming export licenses (Chinese) — Shanghai Metals Market, reporting the company's reply (2025-07-01)
THRED capacity statement (Chinese) — Jiemian News (2023-04-26)
Company profile — founding and listing dates (Chinese) — Tonghuashun 10jqka (accessed 2026-09-18)

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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