On June 5, 2020, China's leading rare earth magnesium alloy, aluminum titanium alloy, aluminum titanium boron, aluminum strontium alloy manufacturer NJYH Special Alloy Technology Group issued an announcement:
Its subsidiary CQBA Magnesium Aluminum Metal Manufacturing Co., Ltd. plans to increase investment in the construction of projects with an annual output of 20,000 tons of magnesium alloys, 8,000 tons of magnesium particles, and 1 million pieces of magnesium-aluminum alloy auto parts. The total investment of the project is 220 million yuan. After the project is completed, the annual net profit is expected to be 51.13 million yuan, and the investment recovery period is 4.81 years (including the construction period).
CQBA magnesium aluminum is a high-tech enterprise specializing in the development, development, production and sales of light-weight materials for magnesium alloys and aluminum alloys. The main products are magnesium alloy medium and large die-cast parts for automobiles, such as automobile instrument panel brackets, seat brackets, and central control brackets.