Core Viewpoint - The company, Jiemai Technology, announced the transfer of 3,565,000 shares to its employee stock ownership plan, representing 0.8273% of the total share capital at a price of 13.10 yuan per share [1] Summary by Relevant Sections - **Share Transfer Details** - The company received a confirmation from the Shenzhen branch of China Securities Depository and Clearing Corporation on November 6, 2025, regarding the transfer of shares [1] - The transferred shares are now held in a dedicated account for the "2025 Employee Stock Ownership Plan" [1] - **Employee Stock Ownership Plan** - The total number of shares held under all effective employee stock ownership plans does not exceed 10% of the company's total share capital [1] - The number of shares allocated to any single employee does not exceed 1% of the company's total share capital [1]

Core Insights - The 8th China International Import Expo is being held in Shanghai from November 5 to November 10, with participation from 155 countries and regions, over 4,100 foreign enterprises, and an exhibition area exceeding 430,000 square meters, marking historical highs in both exhibition area and number of enterprises [1] Group 1: Samsung's Role - Samsung is leveraging its "chain master" effect to empower core suppliers and build a strong, efficient, sustainable, and socially responsible supply chain ecosystem [1] - Samsung Electro-Mechanics (SEMCO), a core subsidiary of Samsung, has become a leader in the Korean electronic components industry, focusing on world-class chip components, substrates, camera modules, and communication modules [1] Group 2: Case Study of Jie Mei Technology - Jie Mei Technology (002859) exemplifies Samsung's empowerment of core suppliers, specializing in producing thin carrier tapes and release films for integrated circuits and electronic components [2] - With Samsung's support, Jie Mei Technology has transitioned from "buying films for processing" to "integrated production," establishing an irreplaceable competitive barrier [2] Group 3: Financial Performance - In the first half of this year, Jie Mei Technology's revenue from electronic-grade film materials reached 116 million yuan, a year-on-year increase of 61.29% [3] - The company has successfully completed product transitions to self-made base films and is in the critical phase of ramping up production, with stable supply to major clients [3] Group 4: Production Expansion - Jie Mei Technology's production lines for the first phase of release films at its Guangdong base have commenced mass production [4] - The North China R&D headquarters project has entered the decoration phase, with plans for equipment installation and debugging by the end of 2025, enhancing supply capabilities for strategic clients in North China [4]

| 证券代码：002859 | 证券简称：洁美科技 | 公告编号：2025-071 | | --- | --- | --- | | 债券代码：128137 | 债券简称：洁美转债 | | 浙江洁美电子科技股份有限公司 关于2025年员工持股计划实施进展暨完成非交易过户的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 浙江洁美电子科技股份有限公司（以下简称"公司"）分别于2025年8月12日召开 第四届董事会第二十七次会议、2025年9月4日召开2025年第一次临时股东大会，审议通 过了《关于<公司2025年员工持股计划（草案）>及其摘要的议案》《关于<公司2025年 员工持股计划管理办法>的议案》和《关于提请股东大会授权董事会办理公司2025年员 工持股计划相关事宜的议案》，同意公司实施2025年员工持股计划（以下简称"本次员 工持股计划"）。具体内容详见公司于2025年8月14日、2025年9月5日刊登在《证券时 报 》 《 中 国 证 券 报 》 《 证 券 日 报 》 《 上 海 证 券 报 》 以 及 巨 潮 资 讯 网 （http://www. ...

Group 1 - The China International Import Expo (CIIE) is being held in Shanghai, attracting over 4,100 foreign enterprises from 155 countries and regions [1] - Samsung, as a leading enterprise in the industry chain, is leveraging the CIIE to enhance its supply chain ecosystem by empowering core suppliers for mutual benefits [3] - Samsung has been acting as a "development guide" for its supply chain partners, promoting collaborative upgrades and optimizing processes to build a win-win ecosystem [3] Group 2 - Jiemai Technology reported a revenue of 116 million yuan for electronic-grade film materials in the first half of the year, marking a year-on-year increase of 61.29% [4] - The company has successfully transitioned to in-house production of base films, breaking the long-standing foreign monopoly in high-end MLCC release films [4] - Jiemai Technology's new production lines in Guangdong have commenced operations, and the project in Tianjin is progressing towards equipment installation by the end of 2025, enhancing supply capabilities for strategic clients in North China [4]

Core Viewpoint - Jiemai Technology's stock price has experienced fluctuations, with a year-to-date increase of 50.34% but a recent decline over the past five trading days by 6.82% [1] Company Overview - Jiemai Technology, established on April 9, 2001, and listed on April 7, 2017, is located in Anji Economic Development Zone, Zhejiang Province. The company specializes in the research, production, and sales of electronic component thin carrier tapes [1] - The main revenue composition includes electronic packaging materials (83.94%), electronic-grade film materials (12.02%), and others (4.04%) [1] Financial Performance - For the period from January to September 2025, Jiemai Technology achieved a revenue of 1.526 billion yuan, representing a year-on-year growth of 13.74%. However, the net profit attributable to shareholders decreased by 0.70% to 176 million yuan [2] - Since its A-share listing, Jiemai Technology has distributed a total of 673 million yuan in dividends, with 274 million yuan distributed over the past three years [3] Shareholder Information - As of October 31, 2025, the number of shareholders increased by 7.40% to 12,700, while the average circulating shares per person decreased by 6.89% to 31,837 shares [2] - Notable shareholders include Quan Guo Xu Yuan Mixed A, which is the second-largest circulating shareholder with 16.7727 million shares, and Hong Kong Central Clearing Limited, which increased its holdings by 5.8763 million shares to 10.4845 million shares [3]

Group 1 - The company currently has a controlling shareholder with over 50% ownership and is facing funding challenges, primarily relying on loans which result in high interest costs [1] - The company has sufficient bank credit facilities and is open to introducing strategic investors in the future, with a commitment to timely information disclosure if such actions occur [1]

Investment Rating - The report maintains a "Recommended" rating for the company [3][6]. Core Insights - The company achieved a record high revenue in Q3 2025, with total revenue reaching 1.526 billion yuan, a year-on-year increase of 13.74%. The net profit attributable to shareholders was 176 million yuan, a slight decrease of 0.7% year-on-year [6]. - The company plans to accelerate capacity expansion through the acquisition of Jiangxi Hongmei by its subsidiary, Ruzhen Technology, for 26 million yuan. This acquisition aims to enhance production capabilities in new film materials and electronic specialty materials [6]. - The company is focused on becoming a one-stop service provider for materials required in the global electronic component packaging process, with projected revenues of 2.2 billion yuan in 2025, 2.6 billion yuan in 2026, and 3.5 billion yuan in 2027, reflecting growth rates of 21%, 18%, and 35% respectively [6]. Financial Forecast Summary - **Revenue Forecast**: - 2024: 1.817 billion yuan - 2025: 2.200 billion yuan (21.1% growth) - 2026: 2.600 billion yuan (18.2% growth) - 2027: 3.500 billion yuan (34.6% growth) [3][7] - **Net Profit Forecast**: - 2024: 202 million yuan - 2025: 257 million yuan (27.3% growth) - 2026: 345 million yuan (34.0% growth) - 2027: 510 million yuan (47.7% growth) [3][7] - **Earnings Per Share (EPS)**: - 2024: 0.47 yuan - 2025: 0.60 yuan - 2026: 0.80 yuan - 2027: 1.18 yuan [3][7] - **Valuation Ratios**: - Price-to-Earnings (PE) ratio for 2025 is projected at 56.02, decreasing to 28.29 by 2027 [3][7].

Market Overview - The other electronic sector experienced a decline of 2.25% on the previous trading day, with Shihua Technology leading the drop [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Stock Performance - Notable gainers in the other electronic sector included: - Igor (002922) with a closing price of 26.14, up 5.87% and a trading volume of 416,800 shares, totaling 1.099 billion yuan [1] - Yuanwanggu (002161) closed at 8.07, up 3.20% with a trading volume of 522,500 shares, totaling 422 million yuan [1] - Major decliners included: - Shihua Technology (688083) with a closing price of 39.80, down 9.40% and a trading volume of 108,800 shares, totaling 442 million yuan [2] - Woer Nuclear Materials (002130) closed at 28.26, down 6.95% with a trading volume of 1,336,800 shares, totaling 3.859 billion yuan [2] Capital Flow - The other electronic sector saw a net outflow of 1.257 billion yuan from institutional investors, while retail investors experienced a net inflow of 1.073 billion yuan [2] - Specific stock capital flows included: - Liyuan Information (300184) had a net inflow of 70.08 million yuan from institutional investors, while retail investors had a net outflow of 105.5 million yuan [3] - Yuanwanggu (002161) saw a net inflow of 66.75 million yuan from institutional investors, with a net outflow of 49.94 million yuan from retail investors [3]

Core Viewpoint - Jiemai Technology's stock has shown significant growth this year, with a 64.91% increase, reflecting strong market performance and investor interest [1][2]. Financial Performance - For the period from January to September 2025, Jiemai Technology reported a revenue of 1.526 billion yuan, representing a year-on-year growth of 13.74%. However, the net profit attributable to shareholders decreased by 0.70% to 176 million yuan [2]. - The company has distributed a total of 673 million yuan in dividends since its A-share listing, with 274 million yuan distributed over the past three years [3]. Stock Market Activity - As of October 29, Jiemai Technology's stock price reached 33.86 yuan per share, with a market capitalization of 14.592 billion yuan. The stock experienced a trading volume of 1.23 billion yuan and a turnover rate of 0.92% [1]. - The stock has seen a net inflow of 3.1119 million yuan from main funds, with significant buying activity from large orders [1]. Shareholder Structure - As of October 20, the number of shareholders for Jiemai Technology was 11,900, a decrease of 7.29% from the previous period. The average number of circulating shares per shareholder increased by 7.87% to 34,194 shares [2]. - Notable institutional shareholders include Quan Guo Xu Yuan Mixed A, which is the second-largest shareholder with 16.7727 million shares, and Hong Kong Central Clearing Limited, which increased its holdings by 5.8763 million shares [3].

Core Insights - Jiemai Technology (002859.SZ) reported its Q3 2025 results, revealing that 14 institutional investors hold a total of 256 million shares, accounting for 59.38% of the company's total equity [1] - The top ten institutional investors collectively hold 59.27% of the shares, with a notable increase of 5.22 percentage points compared to the previous quarter [1] Institutional Holdings - The number of public funds that reduced their holdings this quarter is three, with a decrease in holdings of 0.32% [2] - Four new public funds disclosed their holdings, including the Quan Guo Xu Yuan three-year holding mixed fund and the Huaxia industry prosperity mixed fund [2] - A total of 92 public funds were not disclosed this quarter, including several ETFs and mixed funds [2] Social Security Fund and Foreign Investment - One new social security fund disclosed its holdings in Jiemai Technology, namely the National Social Security Fund 504 portfolio [2] - One foreign fund, Hong Kong Central Clearing Limited, increased its holdings by 1.36% compared to the previous period [2]