Sichuan Newsnet Media (300987.SZ) plans to increase capital by 10 million yuan to its wholly-owned subsidiary, Spicy Community.

Sichuan Newsnet Media (300987.SZ) announced that Sichuan Malatang Community Network Media Co., Ltd. (referred to as "Malatang Community") is a wholly-owned subsidiary of the company. Since its establishment, the influential comprehensive online community Malatang Community has developed into a network interactive platform with a large user base and diverse content sections, playing an important role in online governance, public opinion monitoring and response, and user interaction. With the rapidly changing market demand and continuous technological innovations in the industry, Malatang Community faces challenges in business expansion, technology upgrades, and user experience improvements. In order to enhance the core competitiveness of Malatang Community, promote its sustained and healthy development, the company plans to increase its capital by 10 million yuan through monetary funds to Malatang Community. After the capital increase, Malatang Community will have a registered capital of 20 million yuan and will remain a wholly-owned subsidiary of the company.