Lanshen Completes Pre-IPO Financing Round of Nearly CNY200 Mn

Automotive Author: Kaiwen Li Editor: Ziying Wu Feb 02, 2023 09:46 AM (GMT+8)

Lanshen recently completed a Pre-IPO round of financing of nearly CNY 200 million. The financing is mainly used for the production and research of polymer resin materials and the supplement of the company's daily working capital.

lanshen

Polymer functional material company, Xi'an Lanshen New Material Technology Co. (Chinese: 西安蓝深新材料科技有限公司) (hereinafter referred to as 'Lanshen'), recently completed a Pre-IPO round of financing of nearly CNY 200 million (USD 30 million). This round of financing is mainly used for the production and research of polymer resin materials and the supplement of the company's daily working capital.

Founded in 2008, Lanshen is a high-tech enterprise specializing in the R&D, manufacture and application of polymer functional separation materials. The company's main polymer functional separation materials combined with its own adsorption technology can be applied to four major fields, such as lithium extraction from salt lakes, photovoltaic polysilicon purification, pharmaceutical separation and environmental protection.

At present, Lanshen has more than 50 kinds of resin product models and has built 13,000 cubic meters of adsorbent material production capacity. Also, it has carried out lithium extraction related technology research and industrialized technology development in dozens of salt lakes in Qinghai and Tibet of China, Argentina, Chile, Bolivia, etc.

In addition to lithium extraction from the salt lake, Lanshen's products have also been used for many years in another new energy sector - polysilicon purification. Polysilicon production lines often have huge investment and high production safety requirements, so there are also high requirements for the quality of resin used in upstream for crystal silicon purification. After years of independent research and development and project application, LanShen's resin products with high safety and high quality have occupied more than 70% of the market share in the field of polysilicon purification.