Tianyang New Materials announced plans to transfer its 100% equity stake in wholly-owned subsidiary Jiangsu Defarui New Material Technology Co., Ltd. to Changshu Zhengtai Textile Co., Ltd. and Li Chenglong, with a transaction amount of 178.8 million yuan. Zhengtai Textile will acquire 99% of Defarui's equity for 177 million yuan, while Li Chenglong will acquire 1% for 1.788 million yuan. Defarui's main business is the production and processing of wall coverings. In the first half of 2026, its operating revenue was 29.1697 million yuan, with a loss of 2.479 million yuan. Tianyang New Materials stated that this equity sale is a decision made in line with its strategic planning and business development, which will help optimize asset structure and resource allocation, and improve asset operation efficiency.
Tianyang Hot MelSelling subsidiary for 178.8M yuan to optimize assets and improve efficiency.
Subsidiary being sold, incurring loss in H1 2026.