Changzhou Tiansheng New Materials Group (300169.SZ) announced that its subsidiary, Changzhou Haotian, and the Commercial Bureau of Jishui County acted in accordance with relevant laws and regulations, voluntarily, equally, and mutually beneficially, and signed a contract regarding the advanced technology functional composite coating material project. Changzhou Haotian plans to register Jiangxi Haotian New Materials Co., Ltd (tentative name, subject to final registration by the industrial and commercial authorities) in Jishui, with a total investment of about 50 million yuan, mainly manufacturing and selling advanced technology functional composite coating material products. After the project is put into operation, it is expected to achieve an annual main business revenue of approximately 0.15 billion yuan.
Changzhou Haotian mainly researches and produces optical materials such as high-purity protective film, high-purity PET double-sided adhesive tape, optical OCA, and functional films. This project investment is a necessity for the normal operation of Changzhou Haotian, which is beneficial to further consolidating Changzhou Haotian's competitive position in the industry, improving market share and scale advantages, enhancing overall operational efficiency, promoting synergies, and thus enhancing profitability and comprehensive competitiveness.