Yangzhou Huachong Electric & Electronic Technology Co., Ltd. was established in March, 2020, with a total investment of 60 million RMB. It is set up by the top team focused on magnetic materials and devices in China. The team is led by Youwei Du, an academician of the Chinese Academy of Sciences, and mainly engaged in R&D and industrialization of magnetic materials, components and devices. The main products include inductors, electric reactors, transformers, motor stator & rotor, high-performance samarium cobalt permanent magnets, etc. These products could be widely used in solar energy & wind power equipment, medical equipment, industrial automation, new energy vehicles, rail transit, energy storage station, power grid, motor, variable frequency air conditioner, charging pile and so on.