SHA:603072

Baotou Tianhe Magnetics Technology to Invest in New Magnetic Materials Subsidiary

Baotou Tianhe Magnetics Technology (SHA:603072) will invest 10.8 million yuan in the establishment of a new magnetic materials subsidiary, Tianhe Magnetic Materials (Guangdong), according to a Thursday filing with the Shanghai bourse.The investment is equivalent to 90% of the 12 millionyuan in registered capital of the subsidiary. Shenzhen Liantuo Intelligent Machinery Partnership (Limited Partnership) will contribute 1.2 million yuan or 10% of the entire capital of the unit.Guangdong Tianhe will develop and sell magnetic materials and components such as humanoid robots, low-altitude economy equipment, and 3C consumer electronics.