Establish a new company such as Si Quan New Materials, including magnetic materials business.

According to the QiChaCha app, recently, Shenzhen Xincai Sheng Technology Co., Ltd. was established, with Tan Weijie as the legal representative. Its business scope includes the manufacture and sale of graphite and carbon products, production and sale of magnetic materials, etc. The equity penetration displayed on QiChaCha shows that the company is jointly held by SiQuan New Materials and others.