On July 3rd, 2020, China Satellite announced that the proposal for titanium alloy fastener phase II project, proposed by Oriental Bluesky Tatanium Technology Co., Ltd. (hereinafter referred to as “Oriental Bluesky”) was approved.

In order to solve production bottleneck and meet the market demand, Oriental Bluesky will implement the phase II project of titanium alloy fasteners. The total investment of the project is expected to be 98 million yuan, including RMB 63 million of Oriental Bluesky's own funds and RMB 35 million of bank loans. The construction period of the project is 36 months. It is planned to build a new material technology test workshop, application test workshop and corridor, with a total construction area of 9766 sqm and 32 sets of new process equipment. After the completion of the project, Oriental Bluesky can form an annual production capacity of about 20 million fasteners and other products, which is conducive to improving its industrial capacity and comprehensive strength.