Longci Technology: Chip inductance business progressing smoothly, expected to start bulk deliveries in the first quarter of next year.

Longci Technology announced that the company's chip inductor business is progressing smoothly, and its new product development capabilities have been recognized by customers. It is expected that some products will gradually begin mass delivery in the first quarter of next year. In addition, the company's TLVR inductors have passed customer performance tests, and some products have received small batch orders. In terms of magnetic materials business, the company's gross profit margin is at a relatively good level in the industry, and it plans to maintain or increase the gross profit margin through product structure optimization, cost control, and customer upgrades. The company plans to add another 10,000 tons of permanent magnet product capacity on top of the existing capacity and achieve localized supply of raw materials. After the expansion of the Vietnam base is completed, the total permanent magnet capacity at home and abroad will reach 60,000 tons. In terms of ferrite permanent magnet materials, the company will focus on new energy vehicles, industrial motors, green energy, and other areas of growth.