The hubei sanxia new building materials (600293.SH) announced on September 27th that, in order to promote the company's development in technology innovation, talent cultivation, etc., and to meet the company's needs for glass industry technology and talent, achieve the technical upgrade through the integration of production and research, the company jointly invested with associated party Yichang Gaotou to establish a technology company. Hubei sanxia new building materials and the associated party Yichang Gaotou will jointly invest in the technology company in the next 3 years not exceeding 12 billion yuan proportionately. The specific investment amounts are as follows:

1. The registered capital of the technology company is 10 million yuan, with hubei sanxia new building materials contributing 5.1 million yuan in self-owned currency, holding a 51% stake; Yichang Gaotou contributes 4.9 million yuan in currency, holding a 49% stake.

2. After the establishment of the technology company, each sponsor will inject no more than 120 million yuan of equity investment into the technology company in the next 3 years according to the proportion of subscribed capital, with no less than 40 million yuan in the first year. Of the aforementioned equity investments by the sponsors, 10 million yuan will be recorded as the actual paid-up capital of the technology company, and the rest will be recorded as capital reserves of the technology company. The sponsors' equity investments are mainly used for the construction funds of research and development equipment system (approximately 60 million yuan) and prospective glass new materials and technology research and development (not exceeding 60 million yuan).

This transaction aims to carry out in-depth industry-university-research cooperation with top scientific research institutes by investing in and operating the technology company, focusing on tackling key technologies at the forefront of glass new materials, and incubating the development of the Three Gorges Glass Technology R&D Center. The technology company will establish a complete technological innovation chain, flexible project organization form, market-oriented resource allocation method, and enterprise-oriented evaluation incentive mechanism. Based on this, it will concentrate resources to provide high-quality supporting policies, form an "intense magnetic field" attracting various technological innovation resources.