Tiangong International (00826): Affiliated with Mingchuang Financial Investment and Fanyu Technology Co., Ltd. jointly established Jiangsu Tiangong Electronic Technology Co., Ltd. to cooperate in the PCB precision tool project

Zhitong Finance App News, Tiangong International (00826) issued an announcement. On July 23, 2026, Jiangsu Tiangong Hard Alloy Technology Co., Ltd. (Tiangong Hard Alloy), an indirect subsidiary of the company, signed a joint venture agreement with Shenzhen Mingchuangjin Investment Partnership (Limited Partnership) (Mingchuang Financial Investment) and Dongguan Fanyu Automation Technology Co., Ltd. (collectively referred to as the joint venture) to jointly establish Jiangsu Tiangong Electronic Technology Co., Ltd. (tentative name, final name is subject to approval by the registration authority). On the basis of equality, voluntariness and negotiation, all parties will share a joint venture agreement in PCB precision processing We have advantages in market resources, sales channels, technology research and development, production management, cost control, and interconnection in the tool field to cooperate to carry out PCB precision tool projects.

The main business scope of the project company includes the production of precision tools and automatic measuring tools, electronic special equipment, instruments, tool and mold manufacturing and maintenance, and sales of self-produced products; PCB mechanical laser drilling processing, leasing of own equipment; wholesale, import, export, commission agents (except auctions) and provision of related supporting services for similar products (the above products do not involve state-owned trade, import and export quota licenses, export quota tenders, export licenses, etc.).

The board of directors of the project company consists of 5 members, including 3 from Tiangong Hard Alloy, 1 from Mingchuangjin Investment, and 1 from Fanyu Technology. Each party appoints them according to the above quota. The chairman of the board is an appointed director of Tiangong Hard Alloy. The term of office is three years and can be re-elected. The general manager was recommended by Venture Capital, appointed by the board of directors, and established a management evaluation mechanism.

In principle, the technical results, process documents, customer data, trademarks and patents formed during the project company's existence are owned by the project company. The original intellectual property rights of the joint venture party continue to belong to the original right holder (except when transferred to the project company in accordance with law); if the project company uses the joint venture's original technology, it shall sign a separate licensing agreement clarifying the scope, period, costs and ownership of the improvement results.

Considering AI computing power infrastructure and server upgrades, which have driven the rapid increase in PCB demand, in order to thoroughly implement the direction of high-end manufacturing and intelligent development and accelerate the digital, intelligent and green upgrading of the PCB high-end precision tool industry chain, the Group decided to join the project company and set a business goal. The project company's investment and production capacity finally achieved annual production and sales of 300 million PCB drills and 100 million cutters.

The board of directors believes that the project company can use the resources and advantages of various joint ventures in the field of PCB precision processing tools to consolidate the Group's supply chain advantages in high-end and cutting-edge downstream fields, thereby enhancing the Group's profitability. In view of the above, the Board of Directors believes that the joint project company is in the overall interests of the Company and its shareholders.