Boda Heyi acquires 三超新材, adding a new energy A-share firm to Wuxi
What's the deal? Boda Heyi has acquired 三超新材 (300554), a Shenzhen-listed maker of diamond and cubic boron nitride superhard material tools, in a deal announced in October 2026. Terms were not disclosed.
On October 19, the company said it had completed its corporate registration changes. Its name shifted from Nanjing Sanchao New Materials to Wuxi Boda New Energy Technology, and it relocated to the China IoT International Innovation Park in Wuxi's Xinwu district.
What's the endgame? 三超新材's tools serve the photovoltaic and semiconductor industries. The relocation brings a listed company platform to Wuxi, which aims to use it to anchor a wider new energy cluster.
The move fits Wuxi's own strategy. Its action plan on mergers and restructuring explicitly backs "support for acquiring projects elsewhere to invest in Wuxi."
Why now? Wuxi's M&A market has heated up sharply. In 2025, local listed companies and state firms completed 35 acquisitions as buyers, worth a combined US$5.27B, spanning sectors including new energy.
The city has rolled out policies to support deals and is pushing state capital and companies to use acquisitions to fill gaps in supply chains.
By the numbers: As of early 2026, Wuxi counted 172 listed firms at home and abroad, including 127 on China's A-share market — seventh nationally and second in the province. By July, six Wuxi-listed companies carried market values above US$13.8B.
The signal: Photovoltaics and new energy are priority bets for Wuxi, and Boda New Energy's arrival may bring global sales channels and US market access. The deal shows how local governments are using acquisitions to recycle listed-company shells and bolt new industries onto existing capital markets.
Read more: sohu.com
Image credit: University of Salford
