CHINA HONGGUANG (08646) Establishes Joint Venture Subsidiary to Advance the Implementation and Production of the Semiconductor TGV Glass Substrate Industry Chain

CHINA HONGGUANG (08646) announced that on September 18, 2026, in order to accelerate the Group's strategic layout in the semiconductor TGV glass substrate new materials industry chain and promote the industrialization and large-scale production of TGV glass substrate-related technologies, the Company, together with Dream Buddha Resources Group Co., Ltd. (Dream Buddha US) and Dongguan Yanguang Technology Co., Ltd. (Yanguang Company), jointly contributed capital to establish a joint venture subsidiary Hongmeng Xincai (Shenzhen) Semiconductor Technology Co., Ltd. (Hongmeng Xincai); Hongmeng Xincai plans to establish Hongmeng Xincai Wuhan Branch in Wuhan as a semiconductor TGV glass substrate materials industrialization production base to carry out R&D, pilot testing, and formal production operations. The Board of Directors believes that the establishment of the joint venture subsidiary and the Wuhan Branch is a key step for the Group in implementing its semiconductor TGV glass substrate new materials industry chain strategy, closing the loop from technology to R&D to production to commercialization, promoting the formal mass production of TGV glass substrate materials, expanding into the semiconductor new materials sector, and enhancing the Group's industrial value and long-term development potential. The investment funds for this transaction come from the Group's own funds and will not place significant pressure on the Group's current cash flow. The joint venture company will leverage the resources of all shareholders to advance the industrialization of semiconductor TGV glass substrate materials. The Company will continue to follow up on the project construction progress and timely fulfill its subsequent information disclosure obligations in accordance with the Stock Exchange's GEM Listing Rules.