On March 18, it was learned from the local securities regulatory commission that Changzhou Fusion New Material Co., Ltd., a company located in Changzhou National High-Tech District (CND), has been approved to go public on the Sci-Tech Innovation Board (STAR Market) of Shanghai Stock Exchange (SSE).

The company plans to launch an initial public offering (IPO) to raise up to 1.027 billion yuan for its conductive silver paste (Ag paste) production facility and technology center.

Established in August 2015, Fusion New Material is a high-tech company focusing on the research, development, production, and sales of new-type conductive paste materials for solar photovoltaic (PV) cell manufacturers.

In 2021, the company’s annual sales reached 5.083 billion yuan, which was 217 million yuan back in 2018. The market share of its conductive pastes has achieved 23.43 percent, ranking first among the domestic suppliers.