Grandway Advised Expace Technology on RMB 1.5855 billion Financing

On June 27, 2022, the signing ceremony of the B-round capital increase and share expansion project of Expace Technology Co., Ltd. (“Expace”) was held in Wuhan. Grandway assisted Expace Technology Co., Ltd. to receive a total investment of RMB 1.5855 billion from seven investors.

The fundraising is mainly used for R&D and performance improvement of solid launch vehicle, research on liquid power key technology and engine development, construction of R&D support conditions, strengthen R&D and production capacity of Expace, to serialize the fast boat rocket spectrum, commercial launch normalization, and further enhance the company’s core competitiveness to lay a solid foundation.