Recently, Innuovo announced that it has an existing 10,000t rough NdFeB magnet production capacity and has new 2,000t capacity under construction now, of which 1,000t capacity is expected to be built and go into operation by the end of this year. The new production capacity will produce materials mainly used in NEV, wind power and energy saving motor industries, and will also produce materials used in consumer electronics and intelligent household appliance.