Hunan Yongjin Magnetic Equipment Co., Ltd. (formerly Yueyang Yongjin Lifting Magnetic Co., Ltd. ) was established in 2002 and is mainly engaged in the research and development, production and sales of magnetic lifting equipment. It has now developed series of industrial magnetic application products, such as lifting permanent magnets, permanent magnet lifting devices, permanent magnet lifting clamps, electro-controlled permanent magnets, magnetic lifting plates, ironovers, lifting electromagnets, cable drums, etc., and all products have independent intellectual property rights. By the end of 2023, the company has more than 50, 000 sets of products to large and medium-sized enterprises such as shipbuilding, engineering machinery, heavy machine tools, mold manufacturing, steel smting, port machinery, etc. In December 2022, the company was approved to be listed on the Hunan Stock Exchange, with the stock code: 60580HN.

The company's magnetic equipment production base built in the industrial park of Junshan District, Yueyang City, has now built two double-span factory buildings with a total area of 8, 000 square meters, introduced more than 50 large machine tools, and formed an annual production capacity of5, 000 sets of magnetic equipment. In 2011, the company's lifting permanent magnet products were identified as Hunan Province's independent innovation. In 2012, the company received support from the National Science and Technology Ministry's Small and Medium-sized Enterprises Innovation Fund. In 201, the company was identified as a "specialized, refined, and new" demonstration enterprise in Hunan Province. In 2019, it was identified as aspecialized, refined, and new" small giant enterprise in Hunan Province. In 2022, the company was again identified as a national high-tech enterprise a "specialized, refined, and new" small and medium-sized enterprise in Hunan Province.

The people of Yongjin always adhere to the principle ofquality first, reputation first", insist on the concept of "product is the same as character", maintain technical leadership, and continuously strengthen quality management. The quality system established in with ISO9001 standard is the fundamental guarantee of product quality.