Insights › Rare-earth magnet supply chain atlas › Zhejiang Innuovo Magnetics Co., Ltd.
China
Zhejiang Innuovo Magnetics Co., Ltd.
Sintered and bonded NdFeB rare-earth permanent magnets and magnetic assemblies, manufactured within a diversified listed parent that also produces electric motors and control systems, electric wheelchairs and other health care mobility equipment, and consumer audio products.
At a glance
- Founded
- 1997 — 1997 is the founding and listing year of the publicly traded parent, Innuovo Technology Co., Ltd. (000795, Shenzhen Stock Exchange main board, listed August 8, 1997). No independently verified founding date specific to the magnet-making subsidiary itself was found in public sources.
- Headquarters
- Hengdian, Dongyang, Jinhua, Zhejiang Province, China, with a second sintered NdFeB production base in Ganzhou, Jiangxi Province
- Ownership
- Wholly owned magnet-manufacturing subsidiary of Innuovo Technology Co., Ltd. (Shenzhen Stock Exchange: 000795), headquartered in Hengdian, Dongyang, and described in Chinese financial press as one of several listed companies associated with the Hengdian Group industrial conglomerate. Zhejiang Innuovo Magnetics itself is not separately listed. A further capacity expansion is being built through a wholly owned sub-subsidiary, Zhejiang Dongyang Dongci Rare Earth Co., Ltd.
- Revenue
- RMB 3.884 billion
Reported, FY2025.
Down 3.11% year over year from RMB 4.009 billion in FY2024. Net profit attributable to parent shareholders was approximately RMB 250 million, up 0.93% year over year.
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 magnet blank capacity, nameplate, across the Hengdian and Ganzhou bases combined | approximately 13,000 metric tons/year | Operating | Jun 2026 |
| Sintered NdFeB capacity addition, under construction via wholly owned sub-subsidiary Zhejiang Dongyang Dongci Rare Earth Co., Ltd., budgeted at approximately RMB 424.81 million | 5,000 metric tons/year | Under construction | Jun 2025 |
| Capacity utilization rate at the approximately 13,000 t/yr nameplate base, company-reported | approximately 70-80% | Operating | Jun 2026 |
Narrative
Zhejiang Innuovo Magnetics is the sintered and bonded NdFeB magnet manufacturing subsidiary of Innuovo Technology Co., Ltd., a company listed on the Shenzhen Stock Exchange (000795) and headquartered in Dongyang, Zhejiang, associated in Chinese financial press with the Hengdian Group industrial conglomerate. The company operates two sintered NdFeB production bases, in Hengdian and in Ganzhou, Jiangxi, with a combined nameplate blank capacity of roughly 13,000 metric tons per year as of mid-2026, which the company describes as running at an estimated 70 to 80 percent utilization. A further 5,000 t/yr sintered NdFeB line, budgeted at approximately RMB 425 million and built through a wholly owned sub-subsidiary, was announced in mid-2025 with production targeted for the second half of that year; a year later, company investor communications repeated substantially the same second-half timeline without confirming the line had entered production. Beyond magnets, the listed parent also manufactures electric motors and control systems, plus unrelated health care mobility equipment and consumer audio products, so its consolidated revenue figures are not magnetics-specific.
Where public sources disagree
- An open identity question from an earlier research pass is resolved here: the Shenzhen code 000795 is confirmed correct for Innuovo Technology Co., Ltd., the listed parent of Zhejiang Innuovo Magnetics, corroborated independently by the company's own site, a financial-press article whose headline itself cites "000795," a capacity-focused trade-press article, and the Shenzhen Stock Exchange-filed annual report summary. The alternative code once suggested, 603072, was checked and belongs to an entirely unrelated company, Baotou Tianhe Magnetics, with no identified ownership link to Innuovo or Hengdian Group.
- Zhejiang Innuovo Magnetics is not itself the listed entity; it is a wholly owned operating subsidiary of Innuovo Technology Co., Ltd. Public disclosures mostly describe the listed parent's magnetic materials segment rather than the subsidiary in isolation.
- The precise shareholding percentage or legal mechanism connecting Innuovo Technology to Hengdian Group was not independently verified against a primary ownership filing; the relationship is corroborated only by secondary financial-press characterizations and by the company's own reference to Hengdian Group-provided financial guarantees for subsidiary operations.
- The timeline for the 5,000 t/yr expansion appears to have slipped: near-identical "second half of the year" language appears in both the June 2025 and June 2026 investor disclosures, which may indicate a roughly one-year delay or unrefreshed boilerplate language. No public source confirms the line is commissioned or operating.
- An older third-party supplier-directory listing cites a considerably lower capacity figure, around 6,500 t/yr, inconsistent with the approximately 13,000 t/yr the company itself has repeated in investor communications since at least 2024-2025; the older figure is treated as a stale, unmaintained listing rather than a current company disclosure.
- Reported revenue (RMB 3.884 billion, FY2025) is consolidated for the entire listed parent, covering magnetics, motors, health care equipment, and audio products; no public source breaks out revenue specific to the magnetics segment or to Zhejiang Innuovo Magnetics as a standalone subsidiary.
Sources
- 英洛华：目前磁材毛坯产能约13000吨 5000吨磁材扩产产能预计下半年开始投产 — SMM (Shanghai Metals Market) (2025-06)
- 英洛华(000795.SZ)：目前磁材毛坯产能约为13000吨，产能利用率约为80% — Hexun (2025-06-18)
- 英洛华：全资孙公司拟投资4.24亿建设年产5000吨烧结钕铁硼扩产项目 — SMM (Shanghai Metals Market) (2025-06-27)
- Innuovo Technology 2025 annual report summary — Shenzhen Stock Exchange disclosure (2026-03-21)
- Innuovo Technology investor relations activity record, June 2026 — cninfo.com.cn (China Securities regulatory disclosure platform) (2026-06-18)
- Company profile — Innuovo Technology Co., Ltd. official site (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.
Get in touch← Back to Zhejiang Innuovo Magnetics Co., Ltd. in the atlas · the full supply chain atlas