Jiangsu Mengda New Material Technology Co., Ltd. has commissioned six high-end material production lines in Jiangsu, with planned combined capacity of 8,500 t/y for FeNi and FeNiMo, FeSiAl, and carbonyl iron powders. The first phase of its new industrial base, about 30,000 m², is now operational. The magnetic powder company, founded more than 20 years ago, is shifting its product focus from conventional magnetic powders to high-performance soft magnetic materials. High-end categories currently account for about 30–40% of its revenue, with a target of 60–70% within the next 2–3 years. On technical metrics, Mengda can already mass-produce ultra-fine FeNi powder with D50 of 5–8 μm. Some products from the new lines are controlled to oxygen contents of 200–400 ppm, and below 200 ppm under specific conditions. Data disclosed for its second-generation coating technology show initial insulation resistance above 20 GΩ, maintained above 10 GΩ after baking and reflow soldering, and a 10–20% improvement in DC-Bias. The company lists oxygen content, sphericity, and batch-to-batch consistency as its core control points and expects utilization of the relevant lines to reach about 80% in 2026. The industrial significance of this expansion round is that, with AI power supplies simultaneously demanding high current, high frequency, and low-profile designs, FeNi powder is entering loss-sensitive applications such as GPU power delivery thanks to its combination of high saturation and low loss, while FeSiCr continues to cover price-sensitive mainstream products. For the metal powder supply chain, the focus of competition has shifted from "whether powder can be made" to mass-production control of oxygen content and batch consistency at ultra-fine particle sizes, as well as retention of coating performance after reflow soldering and high-current bias. Value for powder buyers: ① Pay attention to batch particle-size distribution and oxygen content data for 5–8 μm FeNi powder, using 200–400 ppm as a reference line for incoming-material validation; ② Include post-reflow insulation resistance and DC-Bias in the evaluation of coated powders, rather than looking only at initial impedance; ③ Given Mengda's expectation of 80% line utilization in 2026, secure high-end category supply in advance, and track the pace at which its AI-related products move from sample delivery to volume supply.