Grandway Advised Sanchao Advanced Materials on the Project of Issuing Shares to Specific Investors Approved by Shenzhen Stock Exchange

On February 16, 2023, NanJing Sanchao Advanced Materials Co., Ltd. (stock abbreviation: Sanchao Advanced Materials, stock code: 300554) was approved by Shenzhen Stock Exchange for issuing shares to specific investors.

Sanchao Advanced Materials is a high-tech enterprise specializing in the R&D, production and sales of diamond tools, and is committed to become a leading domestic supplier of precision superhard material products with international influence. The main products of Sanchao Advanced Materials include electroplated diamond wire and diamond grinding wheels, which are mainly used for precision processing processes such as cutting, grinding and polishing of various hard and brittle materials in photovoltaic, sapphire, magnetic materials and other industries.

The total amount of funds raised from this issuance will not exceed RMB120.00 million and will be used for the production project (Phase I) of ultra-fine diamond wire saw with an annual production capacity of 41 million kilometers. Through the implementation of this investment project, Sanchao Advanced Materials will significantly expand the high-quality production capacity of silicon slicing wire, meet the growing demand of the market and clients, improve the industry position of Sanchao Advanced Materials, reduce costs and increase efficiency, improve profitability, and help Sanchao Advanced Materials achieve the development vision of “surpassing international advanced technology, revitalizing China’s superhard industry, and building an innovative century-old enterprise with unique technology leadership”.