Core Viewpoint - Zhejiang Jiemai Electronic Technology Co., Ltd. (referred to as "Jiemai Technology") reported a revenue of 564 million yuan in Q3 2025, representing a year-on-year growth of 12.19%, and a net profit attributable to shareholders of 77.43 million yuan, up 38.53% year-on-year, driven by strong demand in various sectors including 5G, cloud computing, and new energy vehicles [1][2]. Group 1 - The high demand in the consumer electronics industry is attributed to a combination of policies, technology advancements, and market needs, with the "old-for-new" policy and increased investment in new infrastructure directly benefiting the demand side [1][2]. - The company's core product, electronic packaging materials, is operating at full capacity, and the utilization rate of electronic-grade film materials is gradually increasing, leading to record-high revenue in Q3 [2]. - Jiemai Technology is expanding into the field of composite current collectors for new energy battery anodes and cathodes through its subsidiary, Zhejiang Rouzhen Technology Co., Ltd., with plans to add 7 composite aluminum foil production lines and 4 composite copper foil production lines this year [2]. Group 2 - The composite aluminum foil focuses on high safety scenarios, addressing mechanical short-circuit issues in ternary lithium batteries, while composite copper foil aims to reduce costs, enhancing battery energy density [3]. - The rapid development of the PCB industry is driving demand for differentiated products such as HVLP copper foil and PCB carrier copper foil, which are essential for high-end markets like AI servers and intelligent equipment [3]. - The demand for HVLP copper foil is increasing due to the growing need for AI computing power, as it is a critical raw material for high-speed copper-clad laminates, which are currently in short supply [3].

Core Viewpoint - The article discusses the collaboration between Rou Dian Technology and major domestic solid-state battery manufacturers, highlighting the advancements in ALD (Atomic Layer Deposition) technology for solid-state battery applications [1] Group 1: Company Collaboration - Rou Dian Technology is recognized as one of the earliest manufacturers in China to research powder ALD technology and equipment [1] - The company has established partnerships with key solid-state battery and material suppliers, including those focusing on sulfide, oxide, and polymer routes [1] Group 2: Technological Advancements - Significant academic research has been conducted on ALD in the context of solid-state interface regulation, resulting in numerous high-level research publications [1] - Rou Dian Technology plans to closely collaborate with downstream customers to advance the verification of this technology in the industry [1]

Core Viewpoint - The company, Zhejiang Jiemai Electronic Technology Co., Ltd., has released its third-quarter financial report, highlighting significant changes in various financial metrics and the assurance of the accuracy and completeness of the report by the board and management [2][3]. Financial Data Summary Major Financial Indicators - The company reported a 76.53% increase in prepaid expenses compared to the beginning of the period, attributed to an increase in advance payments during the reporting period [4]. - Other receivables decreased by 53.53%, mainly due to the receipt of export tax rebates from the previous year [5]. - Other current assets increased by 64.04%, driven by an increase in deductible VAT input tax [5]. - Right-of-use assets grew by 33.12%, due to the leasing of a new factory by the subsidiary, Rouzhen Technology [5]. - Long-term prepaid expenses surged by 181.48%, primarily due to the acquisition of the subsidiary, Jiangxi Rouzhen Technology Co., Ltd. [5]. - Deferred tax assets increased by 48.01%, linked to the increase in unabsorbed losses and deferred income of subsidiaries [5]. - Short-term borrowings rose by 55.00%, reflecting the need for additional working capital [5]. - Contract liabilities increased by 105.81%, due to a rise in advance receipts [5]. - Other current liabilities grew by 125.16%, also related to increased advance receipts and corresponding tax amounts [5]. - Deferred income increased by 108.71%, attributed to more government subsidies related to assets [5]. - Other comprehensive income rose by 113.82%, due to exchange rate fluctuations [5]. - Minority interests decreased by 40.67%, due to losses incurred by the subsidiary, Rouzhen Technology [5]. Profit and Loss Statement - Financial expenses increased by 87.78%, mainly due to higher interest expenses [6]. - Credit impairment losses rose by 32.64%, as a portion of the bad debt provision was reversed due to timely collections [6]. - Asset impairment losses decreased significantly by 18117.53%, attributed to increased provisions for inventory write-downs [6]. - Non-operating income fell by 88.05%, due to insurance claims received in the previous year [6]. - Income tax expenses increased by 65.34%, linked to a reduction in R&D tax deductions [6]. Cash Flow Statement - Cash received from operating activities increased by 80.15%, primarily due to higher government subsidies [7]. - Cash paid for goods and services rose by 90.86%, reflecting increased production and raw material reserves [7]. - Net cash flow from operating activities decreased by 49.84%, attributed to increased production and raw material reserves [7]. - Cash paid for fixed assets and other long-term assets decreased by 31.21%, due to lower investment in various projects [7]. - Cash outflows for debt repayment increased by 40.27%, reflecting higher loan repayments [7]. - Net increase in cash and cash equivalents grew by 145.86%, due to reduced investment in certain projects [7]. Shareholder Information - The total number of ordinary shareholders and the shareholding situation of the top ten shareholders were disclosed, with the company holding 4,957,500 shares, representing 1.15% of total shares [8].

Investment Rating - The investment rating for the company is "Buy" [5] Core Views - The company achieved a revenue of 1.526 billion yuan in the first three quarters of 2025, representing a year-on-year increase of 13.74%. However, the net profit attributable to shareholders decreased by 0.70% to 176 million yuan [1] - The company's gross margin slightly declined, with a gross margin of 33.69% for the first three quarters of 2025, down by 2.82 percentage points year-on-year. The gross margin for Q3 2025 was 34.17%, a decrease of 2.31 percentage points year-on-year [3] - The release of the release film business is accelerating, creating a second growth curve for the company. The company has successfully transitioned to self-manufactured base films and is supplying major clients in stable batches [4] - The company is also expanding its composite current collector business through its subsidiary, Zhejiang Rouzhen Technology, which is acquiring a 100% stake in Jiangxi Hongmei to enhance production capacity [8] Summary by Sections Financial Performance - For Q3 2025, the company reported a revenue of 564 million yuan, a year-on-year increase of 12.19% and a quarter-on-quarter increase of 2.77%. The net profit attributable to shareholders was 77 million yuan, up 38.53% year-on-year and 19.55% quarter-on-quarter [2] - The company’s operating expenses ratio for the first three quarters of 2025 was 21.16%, a decrease of 0.79 percentage points year-on-year [3] Business Development - The release film business is gaining traction, with stable supply to major clients and successful verification from high-end clients, including Samsung and Murata [4] - The acquisition of Jiangxi Hongmei is expected to accelerate the expansion of production capacity and enhance the company's overall profitability [8] Profit Forecast - The revenue forecast for 2025-2027 is adjusted to 2.186 billion, 2.890 billion, and 3.641 billion yuan, respectively, with year-on-year growth rates of 20.3%, 32.2%, and 26.0% [9] - The net profit forecast for the same period is 263 million, 435 million, and 655 million yuan, with year-on-year growth rates of 30.3%, 65.1%, and 50.5% [9]

Core Viewpoint - Jiemai Technology (002859) reported a revenue increase of 13.74% year-on-year for the first nine months of 2025, while net profit decreased by 0.7%. The company is expanding its presence in the solid-state battery supply chain through the acquisition of Zhejiang Rouzhen Technology [1][2]. Group 1: Financial Performance - For the first nine months of 2025, Jiemai Technology achieved a revenue of 1.526 billion yuan, a year-on-year increase of 13.74% [1] - The net profit attributable to shareholders was 176 million yuan, reflecting a slight decline of 0.7% year-on-year [1] - In Q3 2025, the company reported a revenue of 564 million yuan, up 12.19% year-on-year, and a net profit of 77.43 million yuan, which is a significant increase of 38.53% year-on-year [1] Group 2: Business Operations - Jiemai Technology specializes in the research, production, and sales of electronic packaging materials and electronic-grade film materials, including paper carrier tape, electronic adhesive tape, and plastic carrier tape [1] - The company is actively integrating into the solid-state battery supply chain by acquiring Rouzhen Technology, which focuses on polymer metal composite film materials [1][2] - Rouzhen Technology's products are designed to replace traditional aluminum and copper foils in lithium-ion batteries, enhancing energy density and safety [2] Group 3: Strategic Developments - Jiemai Technology's acquisition of Rouzhen Technology involved an investment of 30 million yuan for a 4.7619% stake, increasing its ownership from 58.43% to 60.41% [1] - The company reported a 5870.57% year-on-year increase in net cash received from subsidiaries, primarily due to payments related to the acquisition of Rouzhen Technology [1] - In October 2025, Jiemai Technology signed a guarantee contract with a bank to support Rouzhen Technology's credit application of 140 million yuan, aimed at expanding production of composite aluminum and copper foils [2]

浙江洁美电子科技股份有限公司 2025 年第三季度报告 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 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度财务会计报告是否经过审计 □是 否 1 浙江洁美电子科技股份有限公司 2025 年第三季度报告 一、主要财务数据 浙江洁美电子科技股份有限公司 2025 年第三季度报告 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。 重要内容提示： （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 本报告期比上年同 期增减 | 年初至报告期末 | 年初至报告 期末比上年 同期增减 | | --- | --- | --- | --- | --- | | 营业收入（元） | 563,54 ...

证券代码：002859 证券简称：洁美科技 公告编号：2025-070 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 可转换公司债券2025年付息公告 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。 特别提示： 1、"洁美转债"将于2025年11月4日按面值支付第五年利息，每10张"洁美转债"（合 计面值1,000.00元）利息为18.00元（含税）。 2、债权登记日：2025年11月3日 3、除息日：2025年11月4日 4、付息日：2025年11月4日 5、"洁美转债"票面利率：第一年0.40%、第二年0.60%、第三年1.00%、第四年 1.50%、第五年1.80%、第六年2.00%。 6、"洁美转债"本次付息的债权登记日为2025年11月3日，凡在2025年11月3日（含） 前买入并持有本期债券的投资者享有本次派发的利息；2025年11月3日卖出本期债券的 投资者不享有本次派发的利息。 7、下一付息期起息日：2025年11月4日 8、下一付息期利率：2.00%。 经中国证券监督管理委员会"证监许可[2020]2323号"文核 ...

Group 1 - The core point of the article is that Jiemai Technology (002859.SZ) is currently operating at full capacity for its paper carrier tape production, while the release film utilization rate is still improving [1] - The company's utilization rate will adjust according to changes in supply and demand conditions [1]

*ST奥维公告称，公司股票于2025年10月20 - 22日连续3个交易日收盘价格涨幅偏离值累计超12%，属异 常波动。公司前期披露信息无更正补充，近期经营及环境无重大变化，控股股东等在异常波动期间无买 卖公司股票行为。2025年上半年，公司实现营收2347.62万元，净利润-8906.69万元，扣非净利 润-7574.94万元。若2025年度存在相关规定情形，公司股票将终止上市。此外，公司将于10月31日披露 三季报。 ...

Core Viewpoint - Jiemai Technology reported that as of October 20, 2025, the number of shareholders (consolidated) is 11,862 [2] Company Summary - Jiemai Technology engaged with investors on an interactive platform, providing an update on shareholder numbers [2] - The reported figure of 11,862 shareholders indicates a potential growth in investor interest and engagement [2]