Hangzhou Permanent Magnet Group

What Hangzhou Permanent Magnet Group does

Hangzhou Permanent Magnet Group (HPMG) Co., Ltd is a privately held Chinese manufacturer of permanent magnetic materials and magnetic assemblies, headquartered in Hangzhou, Zhejiang Province, and founded in 1980. The company produces sintered NdFeB magnets (including grain boundary diffusion, low heavy rare earth, and cerium-containing grades up to N58 and 50TH), samarium cobalt (SmCo) magnets including the independently developed 35H series and high-temperature variants rated to 550°C, aluminum nickel cobalt (AlNiCo) magnets, injection molded magnets, and plastic bonded overmolding magnets. HPMG positions itself as the world's largest AlNiCo permanent magnet manufacturing base, with combined stated annual production capacity of approximately 7,000 tons (3,000 t NdFeB, 2,000 t SmCo, 2,000 t AlNiCo). The company maintains R&D partnerships with Zhejiang Provincial R&D Centre and the Chinese Academy of Sciences Ningbo Institute of Materials and holds comprehensive certifications (ISO 9001, IATF 16949, ISO 14001, ISO 45001, ISO 14064-1, ISO 50001, ROHS, REACH).

HPMG operates a sales-led B2B model, selling custom-engineered magnets and magnetic assemblies through direct technical engagement with customer engineering teams, supported by online design tools (Magnet Calculator, Magnetic Simulation, Automatic Line Design) and regional sales offices in Berlin, Germany and New York, USA. The company serves automotive (electric motors, sensors, actuators for new energy vehicles), aerospace, medical devices (MRI), marine, industrial and commercial, and home appliance customers; Allegro MicroSystems publicly recognized HPMG with a 2024 Supplier Excellence Award, evidencing a qualified supply position in the automotive electronics value chain. Pricing is custom and quotation-based on magnet type, grade, dimensions, volume, and coating requirements, with multi-year contracts typical. Proprietary differentiators include heavy rare earth reduction via GBD and Dy Diffusion processes, Everlupe PVD surface coating, dual NdFeB/SmCo material design, and high-precision magnetic testing equipment. Revenue is not disclosed; the company is privately held with no observed parent, subsidiary, M&A, or funding event in the available data.

Name

Hangzhou Permanent Magnet Group

Legal name

Hangzhou Permanent Magnet Group Co., Ltd

Website

https://chinahpmg.com

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

101–250 employees

Short description

Hangzhou Permanent Magnet Group (HPMG) is a privately held Chinese manufacturer founded in 1980 that produces sintered NdFeB, SmCo, AlNiCo, injection molded, and overmolding permanent magnets, plus magnetic assemblies, for automotive, aerospace, medical device, marine, industrial, and home appliance customers worldwide.

Ownership category

akta.pro rank

Product category

Permanent Magnet Materials

NAICS

Electrical Equipment Manufacturing (33531)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600), Miscellaneous Chemical Products (2890)

akta.pro primary industry

Transformers & Magnetics (Power/Signal) (HDAHANAD)

Keywords

• NdFeB permanent magnets
• SmCo magnetic materials
• AlNiCo magnets
• Magnetic assembly services
• Rare earth magnets

Headquarters

HQ city

Hangzhou

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Permanent Magnet Products: Manufacturing and sales of sintered NdFeB, SmCo, AlNiCo magnets, and injection molded magnets as core revenue stream. Products are custom-produced to customer specifications across multiple grades and performance levels.
2. Magnetic Assembly Services: Design, development, and manufacturing services for magnetic material applications including component assembly, magnet overmolding, precision machining, and mold design with magnetic circuit design
3. Design Support Services: Technical engineering services including magnetic simulation, calculator tools, automatic line design solutions, and working sessions with customers for magnet design optimization

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Hangzhou Permanent Magnet Group (HPMG) manufactures and sells a comprehensive line of permanent magnet materials, including sintered NdFeB, SmCo, and AlNiCo magnets, as well as injection molded magnets and custom magnetic assemblies. The company produces magnets to customer specifications across multiple grades and performance levels and offers value-added services such as magnetic simulation, design support, and surface treatment/coating. Its products serve automotive, instrumentation, medical devices, aerospace, marine, and home appliance markets worldwide.

Product overview

Hangzhou Permanent Magnet Group (HPMG) operates as a National key high-tech Enterprise offering a comprehensive portfolio of permanent magnet materials and magnetic assemblies. The core product line includes NdFeB magnets (with grades N35-N58, M, H, SH, UH, EH, TH and specialty variants like grain boundary diffusion products), SmCo magnets (including industry-leading 35H series and high-temperature variants up to 550°C), AlNiCo magnets (the world's largest manufacturing base with casting and sintered variants), and Magnetic Assembly services (component assembly, overmolding, injection molding, machining). Supporting these core offerings are design support tools including Magnet Calculator, Magnetic Simulation, and Automatic Line Design services. The company also produces Injection Molded Magnets (ferrite, NdFeB, SmFeN) and Plastic Bonded Over Molding Magnets. Products serve automotive, industrial, medical devices, aerospace, marine, and home appliance sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• NdFeB (Neodymium Iron Boron) Magnets

Quantifiable outcome

• Reduced annual energy consumption by 10% through rooftop solar installation
• +1 more outcomes

Named customers1 record

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Three partnerships are on record, tiered flagship and core.

• Allegro MicroSystemsflagshipStrategic or Co-development Partner · 5 October 2024Major customer relationship involving supply of high-performance magnetic materials for Allegro's power and sensing semiconductors used in automotive and industrial markets. Awarded 2024 Supplier Excellence Award recognizing material science breakthroughs and supply chain resilience.
• Zhejiang Provincial R&D CentrecoreStrategic or Co-development PartnerResearch and development partnership for quality support, utilizing the provincial R&D center for magnet development and testing capabilities
• CAS Ningbo Institute of MaterialscoreStrategic or Co-development PartnerTechnical partnership with the Chinese Academy of Sciences Ningbo Institute of Materials Technology for advanced magnet material research and development

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Hitachi Metals (Proterial): Japan-based global leader in high-performance NdFeB magnets (NEOMAX) and other magnetic materials. Broad incumbent with significantly larger R&D and OEM relationships in automotive and electronics; HPMG competes most directly in SmCo and high-grade NdFeB.
• Shin-Etsu Chemical: Diversified Japanese chemical and materials company with a major rare earth magnet division. Competes with HPMG in high-grade NdFeB for automotive traction motors and HDD applications, with stronger patent portfolio and downstream customer lock-in.
• TDK: Global electronics and magnet manufacturer with NEOMAX-derived NdFeB products and integrated magnetic solutions. Broad incumbent overlapping with HPMG in automotive, industrial, and consumer electronics applications.
• Vacuumschmelze (VAC): European (German) producer of rare earth permanent magnets, including SmCo and NdFeB, serving automotive, industrial, and medical markets. HPMG competes for European OEM business and is also a key Western non-China alternative beneficiary to VAC's reshoring.

Emerging players

• Bunting Magnetics: US manufacturer of magnetic assemblies and separation equipment, with growing presence in custom rare earth magnet solutions. Adjacent peer overlapping with HPMG in magnetic assembly services and North American B2B sales motion.
• Dexter Magnetic Technologies: US-based designer and manufacturer of custom magnetic assemblies and precision magnetic solutions for medical, aerospace, and semiconductor customers. Comparable to HPMG's high-mix, low-volume assembly and engineering services motion.

Direct peers

• Arnold Magnetic Technologies: US-based manufacturer of precision magnetic materials and assemblies, including AlNiCo and SmCo magnets. Direct competitor to HPMG in AlNiCo and engineered magnetic assemblies for aerospace, defense, and medical applications.
• JL MAG Rare-Earth: One of China's largest NdFeB magnet producers serving automotive, energy-efficient home appliances, and wind power customers. Direct competitor to HPMG in sintered NdFeB, with substantially larger scale and public-market access to capital.
• Zhongke Sanhuan: Leading Chinese NdFeB magnet manufacturer serving wind power, new energy vehicles, and industrial motor markets. Direct overlap with HPMG in NdFeB grades, automotive supply chain certification, and global OEM customers.
• Ningbo Yunsheng: Major Chinese producer of NdFeB and SmCo permanent magnets with vertically integrated rare earth supply. Direct competitor to HPMG across sintered NdFeB and samarium cobalt lines for automotive and industrial applications.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/HPMagnet
• LinkedInlinkedin.com/company/hangzhou-permanent-magnet-group-co-ltd

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hangzhou Permanent Magnet Group