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Sifangda is expected to enter the field of shale gas equipment
Sifangda is the leading research and development (R&D) and manufacturing enterprise in China for composite superhard materials. The company specializes in a wide range of 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 competitive products. Additionally, Sifangda ranks among the top three global manufacturers of PCD drawing dies. Its wire drawing die project has been recognized as a national demonstration initiative by the National Development and Reform Commission.
The industry in which Sifangda operates is highly technical, and the company holds a dominant position in the domestic market. Looking ahead, Sifangda is exploring opportunities in the shale gas equipment sector. Although currently supplying materials to coal mining and oil and natural gas equipment companies, the company is not excluding the possibility of entering the development and drilling stages of shale gas. It plans to provide drill materials for equipment manufacturers involved in these areas.
Sifangda’s PDC (polycrystalline diamond compact) drill bits are already widely used in conventional oil and gas exploration and extraction. Given that conventional natural gas in China is typically found at depths ranging from 1,500 to 3,000 meters—similar to the depth of shale gas deposits—it is reasonable to expect that these drill bits could also be effective in shale gas operations.
In terms of fundraising projects, the company has made steady progress. According to the semi-annual report, the construction of its high-tech industrialization project for super-hard materials has reached 93.13%, while the composite super-hard material products project has advanced to 67.25%. The accumulated benefits from these two projects have reached 18.928 million yuan. Since the state-owned land use right certificate was obtained on March 23, 2012, the completion date for the two over-raising projects has been delayed to October 30, 2013. These developments are expected to support the company's future growth and contribute to its stable performance.