Sinomatech, the new-materials division of China National Building Material Group, announced a $616.1 million private placement. The deal attracted 15 investors, including public funds, insurers and foreign investors such as UBS AG.
Prominent private equity investor Ge Weidong invested $96.3 million, the largest amount among applicants. He is known for successful investments in technology companies.
Sinomatech subsidiary Taishan Fiberglass is a domestic leader. It reported that revenue from its AI-linked special fiber cloth rose 114% in the first half of 2026. Revenue reached $72.9 million.
The investment has been interpreted as a sign that capital is shifting toward industrial companies supplying materials for AI infrastructure. The investor backing also points to growing confidence in the materials sector’s role in technology growth.