On October 16,iRay Group (“iRay”, stock code: 688301.SH) successfully completed its private placement of A-shares, raising a total of CNY 1.174 billion. Fangda Partners acted as the issuer’s legal counsel for this offering.
The proceeds from this offering will primarily be used for the construction of X-ray vacuum device and integrated solution projects. The implementation of these projects will accelerate the realization of domestically controllable X-ray core technologies and promote full-scale import substitution. It will also enable iRay to further enhance its business layout in X-ray core components and integrated solutions, advancing its strategy to become a global leader in X-ray products and solutions and laying a solid foundation for benchmarking and surpassing international industry giants.
Fangda has provided long-term legal services to iRay, accompanying the company through critical development milestones with comprehensive capital market legal support, from assisting its successful listing on the STAR Market in 2020, to advising on its CNY 1.43 billion convertible bond issuance in 2022, and now this latest refinancing. Leveraging its full-service platform and one-stop legal capabilities, Fangda continues to empower the company’s sustainable growth. The transaction was led by partners Luo Ke and Aaron Chen. Team members included counsels Terry Ling and Wu Cheng, as well as associates Zhang Chao, Carol Li and Lisa Bu.
iRay is an X-ray core component and integrated solution provider, whose development is aligned with full-industry-chain technology trends and international standards. The company focuses on research, development, production, sale and service of digital X-ray detectors, high-voltage generators, X-ray tubes, integrated X-ray sources and other key components. Its products are widely used in medical diagnosis and treatment, industrial inspection, and security screening. Currently, iRay’s products are exported to over 80 countries and regions across Asia, the Americas and Europe. The company maintains a leading global market share and ranks first in China’s domestic market.
