Hangzhou Permanent Magnet Group Co., Ltd. was founded in 1980, formerly known as the state-owned Xiaoshan Magnetic Steel Factory. The company is a research and development, sales, manufacturing of samarium cobalt permanent magnet, aluminum nickel cobalt permanent magnet, NdFeb permanent magnet, device permanent magnet assembly manufacturing and provide magnetic materials application and product design comprehensive magnetic materials production base. The company is a state-level specialized and new small giant enterprise, with innovation platforms such as Zhejiang Permanent Magnet Group High Performance Permanent magnet Materials Research Institute and Zhejiang Postdoctoral Research Workstation, and has undertaken industrial strong base projects of the National Ministry of Industry and Information Technology, provincial major science and technology research, provincial industrial new products and other projects. Products are widely used in automotive, instrumentation, medical, communications, household appliances, motors, electroacoustic equipment, wind power generation, new energy and national defense military, aerospace and other high-tech fields. The company is the vice president unit of Zhejiang Magnetic Materials Industry Association and the director unit of China Rare Earth Industry Association. It collaborates with the high-quality and rapid development of the material industry to create an industrial cluster of magnetic materials and high-tech basic functional materials with high performance and quality at home and abroad.