Core Insights - CPI film, or transparent polyimide film, is a new type of functional film with excellent properties such as chemical stability, heat resistance, flame retardancy, and good ductility, making it suitable for applications in flexible displays, aerospace, and other industries [1][2][5] Industry Overview - The CPI film market in China is experiencing steady growth, with demand expected to reach nearly 4 million square meters by 2024, driven by rapid developments in downstream industries like electronics and aerospace [5][8] - The production of CPI films involves a complex supply chain, including upstream raw materials, midstream processing, and downstream applications [8] Market Dynamics - The CPI film market is characterized by high technical barriers, with few manufacturers primarily located in Japan and South Korea, such as KOLON and Sumitomo Chemical [5][8] - Chinese manufacturers, including Ruihua Tai and Changyang Technology, are relatively new entrants but have significant potential for domestic market replacement [5][8] Application Areas - The primary application of CPI films is in foldable smartphones, where the shift from LCD to OLED displays is driving demand for flexible display technologies [8][9] - In the solar energy sector, CPI films are used as substrate materials for solar cells, benefiting from their excellent heat and weather resistance [10] Industry Trends - Performance enhancement through molecular structure design and hybrid modifications is a key focus for future CPI film development [11] - Cost reduction strategies, including optimizing production processes and increasing local sourcing of raw materials, are essential for the industry's growth [11] - Expansion into new application areas such as 5G communication, IoT devices, and medical technology is anticipated, highlighting the versatility of CPI films [12]

格隆汇10月23日丨长阳科技(688299.SH)在投资者互动平台表示，公司独家开发的具有超高孔隙率、超 大孔径、可压缩性高的电解质复合膜基膜产品可广泛用于硫化物，氧化物和聚合物电解质等技术路线 上，并取得该行业国内外头部及腰部客户的企业订单。 ...

长阳科技（688299.SH）10月21日在投资者互动平台表示，公司CPI项目正在建设中，公司将加快CPI薄 膜（透明聚酰亚胺薄膜）项目的开发与验证速度。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：董秘，你好！投资者们非常关注贵司所研发的CPI薄 膜，这是可以打破国外垄断的产品。请问贵司投资建设的首条CPI薄膜厂是否已竣工投产？每月的产量 可以达到多少呢？ ...

Core Viewpoint - Fosun Pharma's subsidiary, Shanghai Fuhong Hanlin Biotechnology Co., Ltd., has received Orphan-drug Designation from the FDA for its investigational drug HLX43, a PD-L1 targeted antibody-drug conjugate for the treatment of thymic epithelial tumors (TETs) [1] Group 1 - The investigational drug HLX43 is specifically designed for the treatment of thymic epithelial tumors [1] - The FDA's Orphan-drug Designation is a significant milestone for the company, potentially facilitating the drug's development and commercialization [1]

Core Viewpoint - The 2025 Sustainable Global Leaders Conference held in Shanghai emphasizes global action, innovation, and sustainable growth, featuring around 500 attendees including Nobel Prize winners and leaders from Fortune 500 companies [1] Group 1: Innovation and Globalization - Fosun International's co-chairman, Wang Qunbin, highlighted the company's journey of globalization driven by innovation, aiming for a win-win in commercial and social value [3] - Fosun has developed the first approved anti-PD-1 monoclonal antibody, H drug, for the treatment of extensive-stage small cell lung cancer, which has been approved in nearly 40 countries, benefiting over 110,000 patients globally [4][5] - The company is transitioning from "following" to "leading" in the innovative drug sector, focusing on unmet clinical needs and global partnerships to advance healthcare [5] Group 2: Global Value Creation - Fosun has established a global presence in over 40 countries, building capabilities in research, registration, business development, and marketing, with its innovative biopharmaceutical products reaching nearly 600,000 patients [6] - The company has achieved significant growth in business development contracts, with cash inflow exceeding 1 billion yuan, a 280% increase year-on-year [6] - In the tourism sector, Fosun is enhancing customer experience through AI digital upgrades, expanding its services across 12 countries [6] Group 3: Corporate Social Responsibility - Fosun emphasizes the importance of ESG (Environmental, Social, Governance) responsibilities, contributing to global malaria control by supplying over 420 million doses of artemisinin-based injections [8][9] - The company has initiated a rural doctor project in China, benefiting 3 million rural families and over 16 million rural residents [9] - Fosun maintains a strong MSCI ESG rating of AA and is recognized in the top 1% of Chinese companies for sustainability efforts [9][10] Group 4: Future Vision - Wang Qunbin stated that the power of business for good is driving profound changes in the relationship between enterprises and society, and Fosun aims to continue climbing new heights in sustainable development [10]

Core Viewpoint - The company has not yet ventured into chip manufacturing and packaging for functional films, focusing instead on its CPI film project which is currently undergoing customer validation [1] Group 1: Company Developments - The company is collaborating with the Institute of Physics, Chinese Academy of Sciences, for research and development, with details available in their announcement regarding the signing of a technology development contract [1] - The company has developed a unique separator product with ultra-high porosity, large pore size, and high compressibility, which can be widely used across different electrolyte technology routes [1] Group 2: Product Applications and Benefits - The separator product demonstrates a leading ionic conductivity in polymer solid electrolyte batteries, surpassing competitors by an order of magnitude [1] - In practical applications with other electrolyte routes, the product effectively addresses the expansion issues of carbon-silicon anodes or lithium metal anodes [1] - Overall, the product significantly enhances the cycle life, capacity, operating temperature, safety, and cycling performance of solid and semi-solid batteries compared to traditional separators [1]

Core Viewpoint - The company, Changyang Technology, is currently not engaged in chip manufacturing and packaging for functional membranes, focusing instead on its CPI film project which is under customer validation [1] Group 1: Company Developments - The company is collaborating with the Institute of Physics, Chinese Academy of Sciences, for research and development, with details available in their announcement regarding the signing of a technology development contract [1] - The company has developed a unique membrane product with ultra-high porosity, large pore size, and high compressibility, which can be widely used across different electrolyte technology routes in solid-state or semi-solid-state batteries [1] Group 2: Product Applications and Benefits - When applied in polymer solid electrolyte batteries, the company's membrane can achieve ionic conductivity that is an order of magnitude higher than competitors [1] - The membrane effectively addresses the expansion issues associated with carbon-silicon anodes or lithium metal anodes in practical customer applications [1] - Overall, the product significantly enhances the cycle life, capacity, operating temperature, safety, and cycling performance of solid-state and semi-solid-state batteries compared to traditional membranes [1]

格隆汇10月16日丨长阳科技(688299.SH)在互动平台表示，公司与中科院物理所的合作正在稳步推进 中，具体合作进展将按照相关法律法规履行信息披露义务。 ...

Group 1 - The core viewpoint of the article is that Changyang Technology is currently validating its CPI film project with customers, indicating ongoing development and potential future demand [1] - The electrolyte composite membrane (solid-state battery skeleton membrane) has received orders from leading domestic and international clients, although the market demand has not yet ramped up significantly, resulting in minimal revenue impact in the short term [1] - The company is also developing an industry-first ion-conducting membrane, which is still in the verification phase [1]

格隆汇10月16日丨长阳科技(688299.SH)在互动平台表示，公司CPI薄膜项目目前正在客户验证中；电解 质复合膜基膜(固态电池骨架膜)已取得该行业国内外头部及腰部客户的企业订单，该产品市场需求尚未 放量，收入金额较小，短期内不会对公司经营业绩产生重大影响，敬请投资者注意投资风险；此外，公 司布局行业首创的导离子膜尚在开发验证中。 ...