加码TAC膜项目建设，天禄科技子公司完成增资扩股

Core Viewpoint - Tianlu Technology has successfully completed a capital increase for its subsidiary Anhui Jiguang New Materials, introducing new investor Chengdu Yuanhe Yuandian Venture Capital Partnership, which aims to enhance the capital strength of Anhui Jiguang and promote the construction of the TAC film project [1][3][5]. Group 1: Capital Increase Details - The registered capital of Anhui Jiguang will increase from RMB 369 million to RMB 433 million, with Tianlu Technology investing RMB 43.33 million and Yuanhe Yuandian investing RMB 30 million [3]. - After the capital increase, Tianlu Technology's shareholding will rise from 56.0046% to 56.4603%, maintaining its controlling position [3][4]. - The shareholding structure will change, with Yuanhe Yuandian holding 6.0450% of Anhui Jiguang's shares post-investment [3][4]. Group 2: Financial Performance of Anhui Jiguang - As of September 30, 2025, Anhui Jiguang reported total assets of RMB 402 million and net assets of RMB 349 million, but has not yet achieved profitability, with a net loss of RMB 10.99 million for 2024 and RMB 10.42 million for the first three quarters of 2025 [5]. - The company was established in March 2023 and focuses on manufacturing and R&D of electronic specialty materials and optoelectronic devices [4][5]. Group 3: Strategic Implications - The capital increase is part of Tianlu Technology's strategy to expand its presence in the upstream materials sector of the display industry [5]. - The introduction of external fund Yuanhe Yuandian is expected to optimize the shareholding structure and improve the internal governance of Anhui Jiguang [5]. - The TAC film is a key raw material in the polarizer manufacturing process, and this investment aims to accelerate the development of TAC film business, enhancing domestic production capacity and reducing reliance on imports [5].