Group 1 - The core viewpoint of the articles indicates that from December 1 to December 7, brokerages provided target prices for listed companies a total of 79 times, with notable increases in target prices for Wanrun New Energy, Inspur Information, and Wanyi Technology, showing increases of 83.49%, 63.08%, and 61.39% respectively, belonging to the battery, computer equipment, and general equipment industries [1] - A total of 183 listed companies received brokerage recommendations during the same period, with Yongtai Energy, Jereh Holdings, and BYD each receiving 5 recommendations [2] - In terms of rating upgrades, Western Securities raised the rating of China Resources Sanjiu from "Hold" to "Buy" during this period [3] Group 2 - Regarding rating downgrades, Zhongtai Securities lowered the rating of Wanxing Technology from "Buy" to "Hold" [4] - There were 53 instances of first-time coverage by brokerages, with New Jinlu receiving an "Accumulate" rating from Zhongyou Securities, Yongzhen Co. receiving a "Buy" rating from Aijian Securities, Hangyang Co. receiving an "Accumulate" rating from Dongwu Securities, Jiemai Technology receiving a "Buy" rating from Guosheng Securities, and Yutong Optical receiving a "Buy" rating from Western Securities [4]

Core Viewpoint - Jiemai Technology (002859) reported that as of November 28, 2025, the number of shareholders (consolidated) reached 13,665 [1] Summary by Category - **Company Information** - Jiemai Technology has confirmed a total of 13,665 shareholders as of the specified date [1]

Core Viewpoint - The company, Jiemai Technology (002859.SZ), has indicated that its release film products primarily include release films for ceramic capacitors (MLCC), optical material polarizers, and OCA release films, with major competitors being Japanese and Korean firms [1] Group 1 - The company's release film products are essential for various applications, including ceramic capacitors and optical materials [1] - Major competitors in the release film market are predominantly from Japan and South Korea [1]

Core Viewpoint - Jiemai Technology (002859.SZ) primarily produces release films for various applications, facing competition mainly from Japanese and South Korean companies [1] Group 1: Product Overview - The company's release film products include those used for ceramic capacitors (MLCC), optical material polarizers, and OCA release films [1] Group 2: Competitive Landscape - Major competitors in the release film market are primarily Japanese and South Korean enterprises [1]

Group 1 - The core point of the article is that Jiemai Technology (002859.SZ) is currently installing and debugging equipment at its Tianjin base [1] Group 2 - The company is actively progressing with its operational setup in Tianjin, indicating a focus on enhancing production capabilities [1]

Core Viewpoint - The company, Jiemai Technology, highlighted its competitive advantages in the mid-to-high-end MLCC release films compared to domestic competitors, specifically focusing on its product offerings and the primary competition from Japanese and Korean firms [1]. Company Summary - Jiemai Technology's release film products include those used for ceramic capacitors (MLCC), optical material polarizers, and OCA release films [1]. - The main competitors in the market are primarily Japanese and Korean companies, indicating a strong international competitive landscape [1].

Core Viewpoint - The company has confirmed that its composite aluminum foil products are not currently used in a specific vehicle model, and the development of these products for semi-solid batteries is still ongoing [1] Group 1: Company Information - The company, Jie Mei Technology, has clarified on an investor interaction platform that its composite aluminum foil is not applied to the mentioned vehicle model [1] - The composite aluminum foil is still in the development phase for semi-solid batteries, indicating ongoing research and potential future applications [1] - The company is also collaborating with Qing Tao on developing composite aluminum foil systems for other non-automotive battery products [1]

1. Report Industry Investment Rating No specific industry investment rating is provided in the report. 2. Core View of the Report - Commercial space is experiencing intensive catalysts, and investment opportunities in the industry are worth attention [2]. 3. Summary According to Relevant Catalogs 3.1 Commercial Space Faces Intensive Catalysts, Focus on Industry Investment Opportunities - **Three - year Action Plan for Commercial Space**: On November 25, 2025, the National Space Administration issued the "Action Plan for Promoting the High - quality and Safe Development of Commercial Space (2025 - 2027)", aiming to achieve high - quality development of commercial space by 2027, with significant growth in industry scale and innovation [3]. - **Establishment of the Commercial Space Department**: The National Space Administration has recently established the Commercial Space Department, which will promote the high - quality development of China's commercial space industry and benefit the entire industrial chain [4]. - **Satellite Internet of Things Business Commercial Test**: The Ministry of Industry and Information Technology has launched a two - year commercial test of satellite Internet of Things business, marking the transition of China's satellite Internet industry to the commercial application exploration stage and bringing investment opportunities for the entire industrial chain [4]. - **Recommended Stocks**: In the rocket direction, recommended stocks include Chaojie Co., Ltd., Gaohua Technology, Zhongheng Design, etc.; in the satellite direction, recommended stocks include Shaanxi Huada, Shanghai Harbor, Shanghai Hanxun, etc. [4]. 3.2 Main Covered Company Earnings Forecast and Valuation - The report provides earnings forecasts, valuations, and ratings for 28 companies from 2024 to 2027, including China National Building Material Group Corporation, Conch Cement, and China State Construction Engineering Corporation. Most of the investment ratings are maintained [13]. 3.3 Weekly Market Review - **Industry Index Performance**: The building and building materials industries showed certain increases this week. The building index increased by 2.43%, and the building materials index increased by 2.21%. Among them, the garden engineering index had the highest increase of 8.40% in the building sub - sectors, and the ceramic index had the highest increase of 5.60% in the building materials sub - sectors [17][19][22]. - **Stock Performance**: In the building materials industry, Hainan Ruizhe had the highest weekly increase of 22.16%, and *ST Lifang had the highest weekly decrease of 30.00%. In the building industry, Guosheng Technology had the highest weekly increase of 57.69%, and *ST Dongyi had the highest weekly decrease of 22.36% [25]. - **Infrastructure Public REITs Performance**: The average weekly increase of infrastructure public REITs was - 0.13%, the average monthly increase was - 1.23%, the average increase since the beginning of the year was 9.67%, the average 250 - day increase was 14.38%, and the average increase since IPO was 13.06% [28]. 3.4 Aggregate Data Tracking - **Real Estate Data**: It includes new construction, construction, completion, and sales area cumulative year - on - year data, land transaction data, real estate transaction data, social financing data, and infrastructure investment growth data. For example, the cumulative year - on - year growth rate of national real estate new construction area continued to decline [31]. - **Eight Major Construction Central Enterprises' New Contract Signing**: The report shows the quarterly new contract signing amounts and year - on - year growth rates of eight major construction central enterprises from 2022Q1 to 2025Q3 [73]. - **Special Bond Issuance**: It includes monthly and cumulative new special bond issuance amounts and replacement special bond issuance amounts from 2022 to 2025 [75][77][79][81]. 3.5 High - frequency Data Tracking - **Cement Data**: It includes national PO42.5 cement average price, East China regional cement price trend, cement - coal price difference index, cement inventory ratio, and cement production monthly year - on - year growth rate [84][85][87][91]. - **Float Glass Data**: It includes glass spot price, glass futures price, and glass inventory [91][92][96]. - **Photovoltaic Glass Data**: It includes glass daily melting volume, soda ash price, 2mm photovoltaic glass price, and photovoltaic glass inventory [98][102][99][104]. - **Glass Fiber Data**: It includes the prices of various types of glass fiber yarns and glass fiber inventory [106][109][110][116]. - **Carbon Fiber Data**: It includes carbon fiber average price, carbon fiber raw silk price, carbon fiber production, carbon fiber inventory, carbon fiber operating rate, carbon fiber gross profit margin, carbon fiber cost, and carbon fiber gross profit [113][117][120][122][124][126][129]. - **Magnesia and Alumina Prices**: It includes the ex - factory tax - included price of large - crystal electro - fused magnesia and alumina price [126][130]. - **Upstream Raw Material Prices**: It includes asphalt price, waste paper price, PVC price, HDPE price, etc. [134][137][135][139]. - **Physical Workload Data**: It includes acrylic acid price, titanium dioxide price, high - machine rental rate, and asphalt average operating rate [141][143][144][146].

Core Viewpoint - The article discusses a collaboration agreement between Jiemai Technology and CATL for the joint development of lithium battery composite current collectors, highlighting the production capacity commitments for the coming years [5]. Group 1: Agreement Details - Jiemai Technology's subsidiary, Zhejiang Rouzhen Technology, has signed a cooperation development framework agreement with CATL for the joint design and development of lithium battery composite current collectors [5]. - The agreement includes customized development, sample delivery, and mass production supply based on CATL's requirements [5]. Group 2: Production Capacity Commitments - The agreement stipulates that during CATL's mass production phase, Rouzhen Technology will prioritize ensuring a production capacity of no less than 1 million m² in 2025, 5 million m² in 2026, and 30 million m² in 2027 [5]. Group 3: Company Background - CATL is a leading player in lithium battery research, production, and sales, with a strong focus on soft-pack and digital lithium batteries, widely used in consumer electronics, new energy vehicles, and energy storage [5].

Core Viewpoint - The article discusses the strategic partnership between Jiemai Technology and ATL, focusing on the development and production of lithium battery composite current collectors, which is expected to enhance both companies' competitive positions in the lithium battery industry [7][9]. Event Information - The 2025 Lithium Battery Industry Annual Conference and the Lithium Battery Golden Ding Award Ceremony will be held on December 18-19, 2025, at the Venus Royal Hotel in Shenzhen, with an expected attendance of over 1,200 in-person participants and 30,000 online viewers [3][19]. Partnership Details - Jiemai Technology's subsidiary, Zhejiang Rouzhen Technology, signed a cooperation framework agreement with ATL to develop composite current collectors for lithium batteries, with production capacity commitments of 1 million m² in 2025, 5 million m² in 2026, and 30 million m² in 2027 [7][9]. - ATL, with a registered capital of $159.2 million, is a leading player in the lithium battery sector, focusing on R&D, production, and sales, particularly in soft-pack and digital lithium batteries [8]. Impact Analysis - The partnership is expected to significantly enhance the product competitiveness of both Jiemai Technology and Rouzhen Technology, leveraging their respective technological and resource advantages [9]. - The agreement is seen as a strategic move to boost the commercialization capabilities and market share of Rouzhen Technology's composite current collector products in mainstream lithium battery applications [9]. Production Capacity Expansion - Jiemai Technology plans to expand production lines for composite aluminum and copper foils in 2025, with a total of 11 customer agreements signed and a year-on-year order increase of over 40% [10].