Zhenghai magnetic wins arbitration, Siemens Gamesa claims rejected

Yantai Zhenghai Magnetic Material Co. (Zhenghai Magnetic) announced on December 21, 2025, that it received the final arbitral award from The Danish Institute of Arbitration on December 19, 2025. The arbitration case was filed by Siemens Gamesa Renewable Energy A/S, seeking damages of €14,720,643.30 plus related costs.

The arbitral tribunal fully rejected all of the applicant's claims. Furthermore, the tribunal ordered the applicant to pay Zhenghai Magnetic €1,195,069.86 for legal and expert assistance fees, and also ruled that the applicant bear other related arbitration costs. The company stated that this outcome would positively impact its current operating performance when the applicant fulfills its obligations and the funds are received.

Zhenghai Magnetic emphasized that the successful outcome of this arbitration will not significantly affect its daily production and operations. The company will actively pursue the recovery of awarded funds, with specific figures to be detailed in future periodic reports.