Silver prices are soaring, import dependency exceeds 90%: Boaosheng cuts silver consumption by 30% with two-dimensional silver powder, and the world's first low-temperature nano conductive silver paste has been put into mass production.
Two-dimensional silver powder breaks the long-standing technological bottleneck of high-end silver paste, Boaosheng is seeking financing
Sichuan Boaosheng New Materials Co., Ltd. (hereinafter referred to as "Boaosheng") is pushing forward a new round of financing. This new materials enterprise located in Ziyang High-tech Zone realized the mass production of the world's first new low-temperature nano conductive silver paste based on two-dimensional silver powder in January this year, and won the second place in the growth group of new materials track and advanced to the national competition in the 15th China Innovation & Entrepreneurship Competition Sichuan Division concluded in September. Against the dual background of rising silver prices and domestic substitution of high-end silver paste, the financing progress of Boaosheng is attracting attention from industrial capital.
The "technological bottleneck" of high-end silver paste: a highly deterministic domestic substitution track
Conductive silver paste is known as the "blood of the electronic industry", which is widely used in the electronic industry, photovoltaic and automotive fields. The circuit connection of products such as mobile phones, tablets, smart cards and radio frequency identification all rely on this material, and its core raw material is silver. For a quite long period in the past, domestic silver powder was highly dependent on imports. Public industry reports show that the import dependency exceeded 90% at the peak; the high-end low-temperature nano silver powder required for semiconductor and LED packaging has long been monopolized by Japanese and German enterprises. At the same time, the price of silver continues to rise. Public reports show that silver paste has become the largest single material in photovoltaic modules, and reducing silver consumption has become an inevitable task for the entire industrial chain.
The demand side is still expanding. According to the forecast of third-party research institutions, the global market size of silver powder and silver paste for electronic components will reach about 7.9 billion U.S. dollars by 2032, of which photovoltaic applications account for nearly half; the compound annual growth rate of the nano sintered silver powder segment is expected to exceed 15% from 2025 to 2032. For Boaosheng, a substitution window with both technical barriers and large market space is opening up.
Two-dimensional silver powder reconstructs the conductive network: silver consumption is reduced by 30%, and low-temperature curing is achievable
The technical route of Boaosheng is to change the morphology of silver powder instead of sacrificing the conductivity of silver. Traditional conductive silver paste mostly uses spherical or ball-milled flake silver powder, and the uneven surface will hinder electron transmission. The electron free path of silver is only about 50 nanometers, and the rough surface will significantly limit the conductive capacity. Boaosheng has carried out joint research and development with Sun Yat-sen University to precisely control the lattice structure of silver powder into an ultra-thin, high-purity two-dimensional flake form, with the surface roughness controlled at 1 to 2 nanometers, so that electrons can be efficiently transmitted between adjacent silver flakes, forming a more complete conductive network.
This technology brings threefold values: under the same conductive performance, silver consumption is reduced by 25% to 30%, and the comprehensive production cost is significantly lowered; the two-dimensional flake conductive film layer is bend-resistant and has strong adhesion to the substrate, which can provide reliable support for flexible electronic devices; at the same time, low-temperature curing is realized, which conforms to the direction of green manufacturing. According to public reports, this process is the world's first of its kind, with an annual production capacity of 120 tons and an estimated annual output value of 150 million yuan. The products can be applied in fields including flexible display screens, heterojunction (HJT) and perovskite solar cells, humanoid robot circuit systems, as well as semiconductor and LED packaging.
Breakthrough with benchmark customers: production capacity ramp-up and in-depth layout of the whole industrial chain
In terms of business model, Boaosheng adopts the "benchmark customer breakthrough" strategy, which verifies products in different industries first and then expands supply to leading customers. At present, listed companies have placed market orders, and the products are being sent for sample testing to enterprises including ASUS, Runyang New Energy, Guizhou Meiling Power Supply and other enterprises. In terms of the team, founder Shen Li has been deeply engaged in the electronic information industry for more than ten years. She founded Boao Technology Group in Shenzhen in 2017 and bought out the scientific research patents related to two-dimensional silver powder. The core technical personnel is Chen Zhenxing, former professor of the School of Chemical Engineering of Sun Yat-sen University, and the industry-university-research background forms the technical barrier. The company has accumulated 10 software copyrights and a number of patents, and is the core enterprise under Shenzhen Boao Technology Group.
In January 2026, Boaosheng held a new product launch and production launch ceremony in Ziyang High-tech Zone, announcing the start of mass production; in September, it advanced to the national competition with the project of "two-dimensional nano silver powder based high-performance low-silver-consumption conductive paste". The judges suggested accelerating the industrialization process and expanding production capacity. According to the company's plan, technical R&D service centers will be set up in East China and South China later, products such as nano two-dimensional copper powder will be laid out along the direction of metal two-dimensional powder to build a whole industrial chain, with planned R&D investment exceeding 500 million yuan.
At present, Boaosheng is at the critical stage of production capacity ramp-up and market expansion. The proceeds of this round of financing will be mainly invested in production capacity expansion, market development and new product R&D, so as to accelerate the domestic substitution process of high-end silver paste.