Core Viewpoint - The article discusses the rapid growth and investment opportunities in the advanced packaging materials sector, highlighting the potential for domestic companies to replace foreign imports in critical areas of technology [7][8]. Market Overview - The global market for advanced packaging materials is projected to reach $2.032 billion by 2028, with the Chinese market expected to grow to 9.67 billion yuan by 2025 [8]. - Specific materials such as PSPI, epoxy resin, and conductive adhesives are identified as key growth areas, with significant market sizes and growth rates anticipated [8]. Investment Opportunities - The article outlines various advanced packaging materials and their respective market sizes, including: - PSPI: $528 million in 2023, expected to grow significantly [8]. - Conductive adhesives: projected to reach $3 billion by 2026 [8]. - Chip bonding materials: expected to grow from approximately $485 million in 2023 to $684 million by 2029 [8]. - The investment landscape is characterized by a shift towards domestic production, with numerous Chinese companies emerging as competitors to established foreign firms [7][8]. Industry Trends - The article emphasizes the trend of domestic substitution in advanced materials, particularly in sectors heavily reliant on imports from countries like Japan [7][8]. - It highlights the importance of innovation and collaboration among domestic companies to enhance competitiveness in the global market [21]. Strategic Insights - Investment strategies vary across different stages of company development, from seed rounds to pre-IPO phases, with a focus on team capabilities, market potential, and product maturity [10]. - The article suggests that companies in the growth phase with established sales channels and increasing revenue present lower investment risks and higher potential returns [10].

Group 1 - The company, Ba Yi Shi Kong (688181.SH), announced that its board of directors approved the temporary use of idle raised funds for cash management within 12 months from the date of the board's resolution [1] - The amount for cash management will not exceed RMB 25 million (including RMB 25 million) and can be used in a rolling manner within the validity period [1]

首创证券股份有限公司 关于北京八亿时空液晶科技股份有限公司 使用部分暂时闲置募集资金 进行现金管理的核查意见 首创证券股份有限公司（以下简称"首创证券"或"保荐机构"）作为北京 八亿时空液晶科技股份有限公司（以下简称"八亿时空"或"公司"）首次公开 发行股票并在科创板上市及进行持续督导的保荐机构，根据《证券发行上市保荐 业务管理办法》《上市公司募集资金监管规则》《上海证券交易所科创板股票上市 规则》和《上海证券交易所科创板上市公司自律监管指引第 1 号——规范运作》 等有关法律法规和规范性文件的要求，对八亿时空拟使用部分暂时闲置募集资金 进行现金管理事项进行了核查，并发表核查意见如下： 一、募集资金基本情况 经中国证券监督管理委员会出具《关于同意北京八亿时空液晶科技股份有限 公司首次公开发行股票注册的批复》（证监许可[2019]2696 号），并经上海证券 交易所同意，公司于 2019 年 12 月向社会公开发行人民币普通股 24,118,254 股， 每股面值人民币 1.00 元，每股发行价为人民币 43.98 元，募集资金总额为人民币 1,060,720,810.92元，扣除发行费用后的募集资金净额为人民 ...

证券代码：688181 证券简称：八亿时空 公告编号：2025-048 北京八亿时空液晶科技股份有限公司 关于使用部分暂时闲置募集资金 进行现金管理的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 特别风险提示：尽管公司拟投资安全性高、流动性好、有保本约定的投 资产品，但金融市场受宏观经济影响较大，公司将根据经济形势以及金融市场的 变化适时适量介入，但不排除该项投资受到市场波动的影响。 一、投资情况概述 （一）投资目的 根据《上市公司募集资金监管规则》和《上海证券交易所科创板上市公司自 律监管指引第 1 号——规范运作》等有关规定，在确保不影响募投项目实施及募 集资金安全的情况下，公司合理使用部分暂时闲置募集资金进行现金管理，有利 于提高募集资金的使用效率，增加公司收益，为公司及股东获取更多的投资回报。 （二）投资金额 重要内容提示： 投资种类：安全性高、流动性好的保本型理财产品（包括但不限于结构 性存款、协定存款、通知存款、定期存款、大额存单、收益凭证等）。 投资金额：不超过人民币 2,500 万元（含 2,500 万 ...

Core Viewpoint - The company plans to utilize part of its temporarily idle raised funds for cash management, specifically not exceeding RMB 0.25 billion, to invest in low-risk, liquid financial products [1] Group 1: Company Actions - The company announced the convening of the 11th Audit Committee meeting and the 15th Board meeting on December 22, 2025, to review the cash management proposal [1] - The funds will be sourced from temporarily idle raised funds and are intended for investment in safe and liquid principal-protected financial products [1] - The approved amount for cash management is valid for 12 months from the date of board approval, and the funds can be rolled over within this limit [1] Group 2: Investment Strategy - The investment direction includes high-security, liquid principal-protected financial products such as structured deposits, agreed deposits, notice deposits, time deposits, large certificates of deposit, and income certificates [1] - The company assures that this cash management initiative will not affect the progress of the raised funds investment projects or the normal production and operation of the company [1]

Core Viewpoint - The company has developed a full range of high-end semiconductor KrF photoresist resin and is collaborating with several leading photoresist manufacturers, although it does not have direct partnerships with terminal wafer manufacturers to access specific customer information [1] Group 1 - The company has the capability for research and production of high-end semiconductor KrF photoresist resin [1] - The company is working with multiple leading photoresist manufacturers [1] - The company does not have direct relationships with terminal wafer manufacturers, limiting its access to specific customer information [1] Group 2 - The company plans to continue product validation and market expansion efforts [1]

Lithography Resin - Company Aiyishikong has established collaborations with several leading lithography resin manufacturers [1] Commercial Aerospace - Company Tefa Information currently has no orders or products related to commercial aerospace [1] - Company Nengke Technology has been collaborating with Blue Arrow Aerospace since 2021, with cumulative orders amounting to tens of millions [1] - Company Shangda has obtained qualifications from Blue Arrow Aerospace and Jiuzhou Cloud Arrow, and is providing stable mass production supply [1] Intelligent Driving - Company Xingmin Zhitong's communication domain controller is currently equipped in L3 and L4 autonomous vehicles, including Robotaxi and unmanned logistics vehicles [1] - Company Siwei Tuxin has partnerships with Changan and BAIC Blue Valley in the areas of intelligent cockpits, automotive-grade chips, and intelligent driving [1] - Company Zhejiang Shibao's intelligent steering products are applicable to L3 and above autonomous driving [1] Other Developments - Company Guanfeng Lithium's energy storage cell production capacity is currently at full capacity [1] - Company Zhonglai has begun mass production and shipment of TOPCon high-efficiency batteries [1] - Company Lian De Equipment has formed sales orders in the semiconductor packaging and testing equipment sector, gradually ramping up production [1] - Company Guoke Technology's Leshan drone base is expected to commence production in the first quarter of next year [1] - Company Bertley anticipates that EMB will gradually achieve mass production in the first half of next year [1]

Core Viewpoint - The company has developed the capability to research and produce a full range of high-end semiconductor KrF photoresist resin and is collaborating with several leading photoresist manufacturers [1] Group 1 - The company announced its readiness in high-end semiconductor KrF photoresist resin development [1] - The company is engaging in partnerships with multiple top-tier photoresist manufacturers [1]

Core Viewpoint - The company has developed a full range of high-end semiconductor KrF photoresist resin production capabilities and is collaborating with several leading photoresist manufacturers [1] Group 1: Company Capabilities - The company has established the ability to research and produce a complete series of high-end semiconductor KrF photoresist resins [1] - The company is currently in partnership with multiple top-tier photoresist manufacturers [1] Group 2: Market Position - The company does not have direct cooperation with end wafer manufacturers, which limits its access to specific information about end customers in the supply chain [1] - The company plans to continue advancing product validation and market expansion efforts [1]

Group 1 - The company, Bayi Shikong, primarily focuses on mixed liquid crystal materials and has close collaborations with major domestic panel manufacturers [2] - Currently, the company's products are not directly exported to EU countries, but some downstream clients' end products involve overseas business [2]