diff --git a/TeXmacs/plugins/latex/progs/convert/latex/tmtex.scm b/TeXmacs/plugins/latex/progs/convert/latex/tmtex.scm
index f96afe4b9c..d39622f709 100644
--- a/TeXmacs/plugins/latex/progs/convert/latex/tmtex.scm
+++ b/TeXmacs/plugins/latex/progs/convert/latex/tmtex.scm
@@ -1588,10 +1588,10 @@
 
 (define (tmtex-decode-color s . force-html)
   (with cm (if (string-starts? s "#") "HTML" (named-color->xcolormap s))
-    (cond ((and (== cm "none") (nnull? force-html))
+    (cond ((== cm "HTML")
+           (string-append "#" (html-color->latex-xcolor s)))
+          ((and (== cm "none") (nnull? force-html))
            (tmtex-decode-color (get-hex-color s) force-html))
-          ((and (== cm "HTML") (nnull? force-html))
-           `((!option "HTML") ,(html-color->latex-xcolor s)))
           ((== cm "texmacs")
            (when (nin? s tmtex-colors)
              (set! tmtex-colors (append (list s) tmtex-colors)))
@@ -1607,7 +1607,7 @@
 (define (tmtex-make-color val arg)
   (with ltxcolor (tmtex-decode-color val #t)
     (if (list? ltxcolor)
-        `(!group (!append (color ,@ltxcolor) ,arg))
+        `(!group (!append (color ,@ltxcolor) (!group ,arg)))
         `(tmcolor ,ltxcolor ,arg))))
 
 (define (post-process-math-text t)
diff --git a/TeXmacs/progs/convert/latex/tmtex.scm b/TeXmacs/progs/convert/latex/tmtex.scm
index 710626990e..f9ec2cf5ed 100644
--- a/TeXmacs/progs/convert/latex/tmtex.scm
+++ b/TeXmacs/progs/convert/latex/tmtex.scm
@@ -1588,10 +1588,10 @@
 
 (define (tmtex-decode-color s . force-html)
   (with cm (if (string-starts? s "#") "HTML" (named-color->xcolormap s))
-    (cond ((and (== cm "none") (nnull? force-html))
+    (cond ((== cm "HTML")
+           (string-append "#" (html-color->latex-xcolor s)))
+          ((and (== cm "none") (nnull? force-html))
            (tmtex-decode-color (get-hex-color s) force-html))
-          ((and (== cm "HTML") (nnull? force-html))
-           `((!option "HTML") ,(html-color->latex-xcolor s)))
           ((== cm "texmacs")
            (when (nin? s tmtex-colors)
              (set! tmtex-colors (append (list s) tmtex-colors)))
@@ -1607,7 +1607,7 @@
 (define (tmtex-make-color val arg)
   (with ltxcolor (tmtex-decode-color val #t)
     (if (list? ltxcolor)
-        `(!group (!append (color ,@ltxcolor) ,arg))
+        `(!group (!append (color ,@ltxcolor) (!group ,arg)))
         `(tmcolor ,ltxcolor ,arg))))
 
 (define (post-process-math-text t)
diff --git a/TeXmacs/tests/tmu/201_100.tmu b/TeXmacs/tests/tmu/201_100.tmu
new file mode 100644
index 0000000000..876dd4b8fd
--- /dev/null
+++ b/TeXmacs/tests/tmu/201_100.tmu
@@ -0,0 +1,40 @@
+<TMU|<tuple|1.1.0|2026.2.1-rc5>>
+
+<style|<tuple|generic|chinese|table-captions-above|number-europe|preview-ref>>
+
+<\body>
+  <\equation*>
+    <with|color|red|d d d> d d d
+  </equation*>
+
+  <\equation*>
+    <with|color|#a66|d d d>d d d
+  </equation*>
+
+  <\equation*>
+    <with|color|blue|d d d> d d d
+  </equation*>
+
+  \;
+
+  \;
+
+  \\[ {\\color{red}{d d d}} d d d \\]
+
+  \\[ {\\color[HTML]{AA6666}d d d} d d d \\]
+
+  \\[ {\\color{blue}{d d d}} d d d \\]
+
+  \;
+
+  \;
+
+  \;
+</body>
+
+<\initial>
+  <\collection>
+    <associate|page-medium|paper>
+    <associate|page-screen-margin|false>
+  </collection>
+</initial>
diff --git a/devel/201_100.md b/devel/201_100.md
new file mode 100644
index 0000000000..4e3ce85e79
--- /dev/null
+++ b/devel/201_100.md
@@ -0,0 +1,19 @@
+# [201_100] 公式带前景色时，使用部分颜色时导出 LaTex 代码会出错
+
+## 如何测试
+
+测试文件 `/mogan/TeXmacs/tests/tmu/201_100.tmu `
+原本复制到 LaTeX 效果
+```
+\[ {\color{red}{d d d}} d d d \]
+\[ {\color[HTML]{AA6666}d d d} d d d \]
+\[ {\color{blue}{d d d}} d d d \]
+```
+
+预期的正确效果
+复制到 LaTeX 效果
+```
+\[ {\color{red}{d d d}} d d d \]
+\[ {\color{#AA6666}{d d d}} d d d \]
+\[ {\color{blue}{d d d}} d d d \]
+```