GRIPM Advanced Materials (688456.SH) announced on October 13 that its board approved a RMB 185.53 million (approx. RMB 186 million) capital increase in its wholly owned subsidiary GRIPM Thailand using own funds, at RMB 1 per RMB of registered capital. The company's direct stake will rise from 84.82% to 94.79%. Of the injection, RMB 120.73 million is earmarked for an atomized powder production line and RMB 64.80 million for working capital. The move aims to meet demand for atomized products, boost overseas supply capacity, and ease financial pressure from rising raw material prices, longer customer payment cycles, and new production line investment. The project involves China ODI filing and Thailand BOI investment incentive application. GRIPM Advanced Materials (Thailand) began production in June 2024 at the WHA Industrial Estate in Thailand's Eastern Economic Corridor, focusing on copper- and tin-based metal powders with a designed total capacity of 6,400 tonnes. In the first half of 2026, it generated operating revenue of RMB 139 million and net profit of RMB 2.17 million. Upon completion, registered capital will increase from THB 495 million to THB 1.42 billion. Value for powder buyers: ① The Thai atomized line expansion will strengthen Southeast Asian supply of copper- and tin-based powders, benefiting electronics, welding, and powder metallurgy buyers through local sourcing; ② As a leading Chinese metal powder producer, GRIPM's overseas capacity expansion signals robust copper-tin powder demand; ③ Monitor ODI filing and BOI approval progress for project implementation timing.