Chinese A-share listed company Sinoma Science & Technology announced a private placement plan on the evening of October 8, offering 87.1819 million shares to 15 investors at RMB 51.40 per share, raising a total of RMB 4.481 billion. Among the subscribers, prominent private fund manager Ge Weidong placed the highest bid in the entire offering, securing 13.6187 million shares for roughly RMB 700 million, propelling him into the position of the company's fifth-largest shareholder. The allotment list for this private placement also includes well-known institutions such as E Fund Management, Caitong Fund, Nord Fund, China Life Pension, and UBS AG.

Sinoma Science & Technology is the core new-materials platform under China National Building Material Group, focused on three key tracks: specialty fibers, composite materials, and new energy materials. In the first half of 2026, the company posted revenue of RMB 16.257 billion, up 21.95% year-on-year, and net profit attributable to shareholders of RMB 1.208 billion, up 20.93% year-on-year. Among its businesses, the AI-related specialty fiber fabric segment performed particularly well, with first-half sales volume reaching 13.45 million meters and revenue of RMB 530 million, up 50% and 114% year-on-year respectively. Of the funds raised in this placement, RMB 3.137 billion will go toward specialty fiber fabric projects to help close the supply gap driven by AI hashrate demand.