Summary: GrandiT planned to build a project of 196,000 t/a ultrapure electronic chemicals, which is predicted to be completed by 2025.

The Reply on Approval of GrandiT Co., Ltd. (GrandiT)'s Initial Public Offering (IPO) Registration Application issued by China Securities Regulatory Commission (CSRC) on 13 June, 2023 showed that GrandiT intended to raise capital of USD211.37 million (RMB1.50 billion), USD169.10 million (RMB1.20 billion) of which will be used for its project of 196,000 t/a ultrapure electronic chemicals.

This ultrapure electronic chemical project, with a total investment of USD194.46 million (RMB1.38 billion), contains capacity of 80,000 t/a electronic grade sulphuric acid, 30,000 t/a electronic grade hydrofluoric acid, 30,000 t/a electronic grade nitric acid, 25,000 t/a electronic grade ammonium hydroxide, 20,000 t/a electronic grade hydrogen peroxide, 10,000 t/a electronic grade isopropyl alcohol, and 1,000 t/a electronic grade mixed acid. This project is still under construction. This project is divided into two phases: the first phase includes 40,000 t/a electronic grade sulphuric acid and 12,500 t/a electronic grade ammonium hydroxide; the second phase will build the rest of the capacity. The construction period of the whole project is five years—the first phase is estimated to start trial production in June 2023; the second phase is expected to begin trial production in Oct. 2025.

Notably, Zhejiang Juhua Co., Ltd. and China Integrated Circuit Industry Investment Fund Co., Ltd. are the largest shareholders of GrandiT, holding 35.2% shares of the company respectively. GrandiT engages in R&D, production, and sales of wet electronic chemicals, electronic specialty gas, and precursor materials and its wet electronic chemicals include electronic grade hydrofluoric acid, electronic grade sulphuric acid, electronic grade nitric acid, electronic grade hydrochloric acid, electronic grade ammonium hydroxide.