China Hongguang (08646) establishes a joint venture subsidiary to promote the implementation of semiconductor TGV glass-based industrial chain

Zhitong Finance App News, China Hongguang (08646) issued an announcement on September 18, 2026. In order to accelerate the strategic layout of the Group's semiconductor TGV glass-based new materials industry chain and promote the industrialization and large-scale production of TGV glass-based technologies, the company and Dream Buddha Resources Group Co. , Ltd. (American Dream Buddha) and Dongguan Yanguang Technology Co., Ltd. (Yanguang Company), and the three parties jointly funded the establishment of a joint venture subsidiary, Hongmeng Core Material (Shenzhen) Semiconductor Technology Co., Ltd. (Hongmeng Core Material); Hongmeng Core Materials plans to establish Hongmeng Core Material Wuhan Branch in Wuhan as an industrial production base for semiconductor TGV glass-based materials to carry out R&D, pilot testing and formal production business.

The board of directors believes that the establishment of a joint venture subsidiary and Wuhan branch is a key step in the Group's strategy to implement the semiconductor TGV glass-based new materials industry chain, open up a closed loop of technology, R&D, production and implementation, promote formal mass production of TGV glass-based materials, expand the semiconductor new material circuit business, and enhance the Group's industrial value and long-term development potential. This investment comes from the Group's own capital and will not put significant pressure on the Group's current cash flow. The joint venture will rely on the resources of various shareholders to promote the industrialization of semiconductor TGV glass-based materials. The company will continue to follow up on the progress of project construction and promptly fulfill follow-up information disclosure obligations in accordance with the Stock Exchange's GEM listing rules.