(Yicai Global) Dec. 11 -- Dongguan Golden Sun Abrasives Dongguan Golden Sun Abrasives has secured a CNY2.8 million (USD400,000) research grant from China Academy of Space Technology to research and develop new materials and manufacturing techniques for China's space mirror, the Guangdong province-based precision material maker said in a statement today.

The company will come up with a new material called amorphous alloy for CAST's space mirror, which is under development, per the statement. The new substance, capable of greatly simplifying the preparation process of the geosynchronous 'thousand-mile eye' and improving its accuracy, will be crucial in improving the imaging quality of the equipment, the statement explained, adding the project will finish by the end of June.

The firm's shares [SHE:300606] fell back after opening about 0.7 percent higher today, tumbling 2.02 percent to CNY22.36 by noon, but got a second wind to close down 0.53 percent at CNY22.70. The stock had logged an eight-day winning streak up to that point, gaining about 21.5 percent overall.

The project will help broaden the application scope of the company's products and consolidate its leading position in the precision processing industry, per the statement.

Amorphous alloy, also known as metallic glass or liquid metal, is the third-generation new material after engineering plastics and light alloys. In addition to aerospace applications, the stuff can also be used in consumer electronics, lithium batteries, three-dimensional printing, flexible smart machines, surgical robots and other emerging products, public information shows. The space reflector is capable of precise meteorological and other observation, imaging and monitoring.

Editor: Ben Armour