Beikuang magnetic material technology Co., Ltd. (hereinafter referred to as the company, stock code: 600980) is a company established by the State Economic and Trade Commission of the people's Republic of China Economic and trade enterprise reform [2000] 697 Beijing General Research Institute of mining and Metallurgy (hereinafter referred to as Beijing General Research Institute of mining and metallurgy) under the former State Bureau of nonferrous metals industry, with its operating assets and related liabilities related to the scientific research, development and production of magnetic materials and magnetic devices, jointly invested in the form of monetary funds by General Research Institute of iron and steel, Research Institute of mechanical science, China Academy of building materials science and China Textile Science and Technology Co., Ltd It is a joint-stock limited company established by the way of initiating establishment of five units, including the Institute of science and technology, Jiangmen powder metallurgy plant Co., Ltd.