On the morning of August 28^th, 2020, the ceremony of ZHmag Low Heavy Rare Earth Permanent Magnet Project being put into production was solemnly held in Fullhigh Campus, Yantai. Zhenghai Group board members, management team, general managers of subsidiaries and staff representatives of ZHmag attended the ceremony. At 10:28, with a batch of new magnets slowly rolling off the production line, ZHmag Low Heavy Rare Earth Permanent Magnet Project was officially put into production, marking that ZHmag has start a new journey of "To be pioneer of global permanent magnet industry".

The total investment for the low heavy rare earth permanent magnet production base project is 500 million RMB. The products are mainly applicable to high-end technical fields such as  traction motors of xEV, electric power steering (EPS), energy-saving household appliances, permanent magnet direct-driven wind turbines, elevators, servo motors and smart consumer electronics industries, etc. Strong support and much help from Zhenghai  Group and subsidiaries have been given since the kickoff of Fullhigh campus construction. All departments worked closely especially under the unfavorable external environment which is the outbreak of COVID-19, all construction personnel have overcome the practical difficulties such as shortage of man power, the equipment engineers could not arrive on time for machine installation and commissioning. They relied on their own strength and made every effort to minimize the negative effects caused by the pandemic and eventually complete the Phase I Project with high quality and efficiency. They interpreted the Zhenghai spirit "Be persistent, pragmatic and strive for excellence." with their actual efforts and presented a qualified performance to the 30th anniversary of the establishment of Zhenghai Group.

After the project put into operation, ZHmag will remain true to their original aspiration and keep their mission firmly in mind under the leadership of the Zhenghai Group and the Company Board Members. ZHmag will strive to build Fullhigh as a modern factory with advanced process, suitable equipment, efficient logistics, automation, intelligence and eco-friendliness and continuously enhance the international competitiveness and profitability to consolidate and improve the Company's leading position in order to become a new benchmark in the high-performance NdFeB permanent magnet industry.