On August 1, Hangzhou First Applied Material Co., Ltd. announced that its holding subsidiary, Hangzhou First Electronic Material Co., Ltd., has completed the industrial and commercial registration changes for its capital increase and share expansion, and has obtained a new business license.
Prior to this, First Applied Material convened board and shareholder meetings on March 26 and April 14, 2026, respectively, approving proposals related to the electronic material subsidiary’s capital increase and share expansion. Under the arrangement, the electronic material subsidiary planned to introduce an employee stock ownership platform and external shareholders through capital injection to optimize its shareholding structure.
Following the completion of this capital increase, the registered capital of Hangzhou First Electronic Material Co., Ltd. rose from RMB 177 million to approximately RMB 199 million, further expanding its shareholder structure. First Applied Material remains the controlling shareholder, with its stake adjusted from 84.83% to 75.24%. Meanwhile, newly added shareholders include entities such as Jiaxing Dunjun Zhaohai Equity Investment Partnership (Limited Partnership), Ganzhou Shenlian Circuit Co., Ltd., and Shenzhen Mankun Technology Co., Ltd., alongside several investment partnerships and individual shareholders.
First Applied Material stated that the capital increase, share expansion, and introduction of the employee stock ownership platform and external shareholders will help refine the subsidiary’s incentive mechanisms and equity structure. The strategic shareholding acquired by downstream customers will play a positive role in the future business development, product transformation, and upgrading of the electronic material company, with the raised funds primarily dedicated to capacity expansion and R&D investment in its electronic materials business.
Source：EnergyTrend