Beijing Zhong Ke San Huan High-Tech Co., Ltd. ("Zhong Ke San Huan"), an existing licensee of Hitachi Metals’ basic patents covering rare earth magnet compounds with a tetragonal crystal structure, as well as other Hitachi Metals' patents relating to sintered rare earth magnets, has entered into a new patent license agreement with Hitachi Metals covering an expanded portfolio of Hitachi Metals sintered rare earth magnet patents. Zhong Ke San Huan is one of only two suppliers of magnets so far in China that has entered into a new license agreement with Hitachi Metals covering an expanded portfolio of Hitachi Metals sintered rare earth magnet patents.

Following the agreement, Zhong Ke San Huan will continue to sell licensed sintered Nd-Fe-B magnets in the licensed territory and be the same as before to serve its customers. .