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Sifangda is expected to enter the field of shale gas equipment
Sifangda is the leading R&D and manufacturing company of composite superhard materials in China. The company specializes in producing a wide range of high-performance products, including petroleum composite sheets, mining composite sheets, cutting tools, and wire drawing dies. It stands as the only polycrystalline diamond (PCD) manufacturer in China with fully integrated production lines and globally recognized products. Sifangda is also among the top three global manufacturers of PCD drawing dies, and its wire drawing die project has been selected as a national demonstration initiative by the National Development and Reform Commission.
The industry in which Sifangda operates is highly technical and competitive, and the company holds a dominant position in the domestic market. Looking ahead, Sifangda is exploring opportunities in the shale gas equipment sector. Although it currently supplies materials to coal and oil & gas equipment companies, the company is considering involvement in the development and drilling stages of shale gas. It aims to provide drill materials for related equipment manufacturers. Its PDC (polycrystalline diamond compact) drill bits are already widely used in conventional oil and gas exploration and extraction. Given that the depth of conventional natural gas reserves in China typically ranges from 1,500 to 3,000 meters—similar to the depth of shale gas deposits—it is reasonable to expect that these PDC bits will also be applicable to shale gas operations.
In terms of fundraising projects, progress has been steady. According to the semi-annual report, the construction of the high-tech industrialization project for super-hard materials has reached 93.13%, while the composite super-hard material products project is at 67.25% completion. Combined, these projects have generated cumulative benefits of 18.928 million yuan. Since the state-owned land use right certificate was obtained on March 23, 2012, the completion date for both over-raised projects is now expected to be delayed until October 30, 2013. This ongoing development is expected to support the company’s future growth and contribute to its stable financial performance.