Core Viewpoint - The company, Rainbow Co., has announced a capital increase of approximately RMB 10.50 billion to its subsidiary, Hongyang Display, to accelerate the construction of the G8.5+ substrate glass production line project in Xianyang, aligning with its long-term strategic development plan [1][3]. Financial Performance - For the first half of 2025, Rainbow Co. reported a revenue of RMB 5.67 billion, a decrease of 6.72% year-on-year [4]. - The net profit attributable to shareholders was RMB 451.63 million, down 50.69% compared to the same period last year [4]. - The total profit for the period was RMB 446.84 million, reflecting a decline of 50.93% year-on-year [4]. - The net cash flow from operating activities was RMB 2.02 billion, a decrease of 7.52% from the previous year [4]. - As of the end of the reporting period, the net assets attributable to shareholders were RMB 21.97 billion, an increase of 2.10% from the end of the previous year [4]. Project Development - Following the capital increase, the registered capital of Hongyang Display will rise from approximately RMB 38.19 billion to RMB 47.81 billion, with Rainbow Co.'s ownership increasing from 52.94% to 62.40% [3]. - The G8.5+ substrate glass production line project has a total planned investment of RMB 200 billion, with the first phase costing RMB 91 billion to build 8 hot-end furnaces and 4 cold-end production lines, aiming for an annual output of 5.82 million substrate glass pieces [3]. - The first production line is set to commence operations in October 2023, with plans to have 4 lines operational by the end of 2024 [3]. Strategic Focus - The company plans to implement a demand-driven production strategy in its LCD panel business, enhance product quality control, and deepen cooperation with key brand clients [4]. - In the substrate glass business, the company will continue to develop the Xianyang project and focus on high-generation and high-precision substrate glass production technologies [5].