Core Viewpoint - The Chinese photovoltaic backsheet industry exhibits a fluctuating market scale, with growth driven by policy support and installation expansion from 2015 to 2017, followed by a downturn due to regulatory adjustments and price declines in 2018-2019. The market rebounded from 2020 onwards, reaching 8.5 billion yuan in 2022, but is expected to decline in 2023-2024 due to increased penetration of bifacial modules and intensified price competition [1][14]. Industry Overview - Photovoltaic backsheets are essential encapsulation materials located at the back of photovoltaic modules, providing protection against environmental factors and ensuring insulation [2][5]. - The structure of photovoltaic backsheets typically consists of five layers, with the outer layer made of PVDF for environmental resistance, a middle layer of PET for insulation, and inner layers of PVDF and EVA for adhesion [2][4]. Market Dynamics - The market for photovoltaic backsheets is influenced by the rapid penetration of bifacial modules, increased competition in traditional backsheet pricing, and adjustments in the global photovoltaic supply chain [1][14]. - The market scale reached 8.5 billion yuan in 2022, but is projected to decline in 2023-2024 due to various factors [1][14]. Industry Policies - The photovoltaic industry is supported by national policies aimed at promoting renewable energy, which has led to significant growth in both scale and technology within the sector [5][13]. - Policies such as the "14th Five-Year Plan for Renewable Energy Development" aim for renewable energy consumption to reach 18% of total energy consumption by 2025 [13]. Industry Chain - The photovoltaic backsheet industry has a complex supply chain, with upstream materials including PVDF, PVF, PET, and glass. Domestic materials have increasingly met performance and quality standards, reducing reliance on foreign suppliers [5][7]. - The midstream involves the manufacturing of backsheets, while the downstream is focused on application within the photovoltaic industry [5][6]. Market Share of Materials - The primary materials used in photovoltaic backsheets include PVDF (53%), PVF (15%), glass (14%), PET (10%), and others, with PVDF being the dominant material due to its superior properties [7][8]. Competitive Landscape - The market is characterized by a high concentration of leading domestic companies such as Zhonglai Co., Foster, and Saiwu Technology, with significant production bases primarily located in Jiangsu and Zhejiang provinces [15][16]. - In 2024, the estimated shipment volumes for major companies are projected to be 135 million square meters for Zhonglai, 100 million for Foster, and 89 million for Saiwu [15]. Development Trends - The industry is expected to see advancements in flexible photovoltaic backsheet technology, ultra-thin and lightweight materials, and the integration of smart functionalities into backsheets [17][18][19]. - These innovations aim to enhance adaptability, reduce costs, and improve the overall efficiency and reliability of photovoltaic systems [17][18][19].

Company Investment - The company has recently invested in the AI sector by acquiring a 3.00% stake in Xiamen Yunchuang Xingchen Venture Capital Partnership for 15.75 million yuan, focusing on AI large model companies [2] Performance Forecast - The company expects a net profit attributable to shareholders for 2025 to be between 195 million yuan and 220 million yuan, representing a year-on-year growth of 2.57% to 15.72%. This performance change is primarily driven by increased demand for high-end composite optical films, the ramp-up of photovoltaic gap reflective film products, and a reduction in losses from the film business [3] Stock and Capital Performance - On February 11, 2026, the company's stock price increased by 2.04% with a trading volume of 85.87 million yuan and a net inflow of main funds amounting to 3.68 million yuan. On February 4, 2026, the stock price rose by 0.50% with a trading volume of 178 million yuan, while the main funds experienced a net outflow of 11.37 million yuan over the past five days [4]

证券代码：300566 证券简称：激智科技 公告编号：2026-009 宁波激智科技股份有限公司 6、注册资本：贰亿陆仟贰佰壹拾万肆仟陆佰贰拾叁元人民币 关于完成工商变更登记的公告 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。 宁波激智科技股份有限公司（以下简称"公司"）于2025年10月28日召开第 五届董事会第三次会议，并于2025年11月17日召开2025年第二次临时股东会，审 议通过了《关于减少公司注册资本及修改公司章程的议案》。具体内容详见公司 刊登在巨潮资讯网（www.cninfo.com.cn）的《关于减少公司注册资本及修改公司 章程的公告》（公告编号：2025-060）。 公司于近日完成了上述事项的工商变更登记手续，并取得了宁波市市场监督 管理局颁发的《营业执照》。公司变更后的《营业执照》具体信息如下： 1、统一社会信用代码：91330200799507506N 2、名称：宁波激智科技股份有限公司 3、类型：股份有限公司（港澳台投资、上市） 4、住所：浙江省宁波高新区晶源路9号 5、法定代表人：张彦 1 7、成立日期：2007年03月09日 ...

Core Viewpoint - The company, Jizhi Technology, anticipates a net profit attributable to shareholders of 195 million to 220 million yuan for the fiscal year 2025, reflecting a year-on-year growth of 2.57% to 15.72% [1] Group 1: Financial Projections - The expected net profit after deducting non-recurring gains and losses is projected to be between 161.5 million and 186.5 million yuan, indicating a year-on-year increase of 6.25% to 22.70% [1] - The demand for high-end composite optical films is strong, with a steady increase in orders and continuous product launches [1] Group 2: Market Dynamics - The optical film market in China is experiencing a significant production and demand gap, heavily relying on imports, which presents substantial opportunities for domestic substitution [1] - The growth of the optical film market is supported by the continuous expansion of application scenarios, the upgrade of consumer electronics, and favorable government policies [1][2] Group 3: Business Segments - Jizhi Technology operates in four main business segments: optical, photovoltaic, automotive, and battery [2] - The optical segment has shown steady sales growth over the past 17 years, with an increasing market share in high-end optical materials [2] Group 4: R&D and Innovation - The company is a key player in promoting the localization of optical films, significantly increasing R&D investments and obtaining certifications from top international and domestic brands [2] - The company has developed a range of competitive new products, including polarizing film surface coatings, electronic paper PS films, VR high-color-gamut quantum dot films, and naked-eye 3D films [3] Group 5: Competitive Position - Jizhi Technology has become a leading manufacturer of display optical films, continuously optimizing product structure and enhancing market competitiveness [3] - The company is focusing on high-value-added optical films, including composite films, quantum dot films, and Mini-LED optical films, to serve various end customers [3]

Core Viewpoint - The company, Jizhi Technology, announced an expected net profit for the fiscal year 2025, projecting a range of 195 million to 220 million yuan, representing an increase of 2.57% to 15.72% compared to the previous year [2] Financial Performance - The projected net profit for 2025 is estimated to be between 195 million yuan and 220 million yuan [2] - This represents a year-on-year growth of 2.57% to 15.72% [2]

Financial Projections - The estimated net profit attributable to shareholders for 2025 is projected to be between ¥195 million and ¥220 million, representing an increase of 2.57% to 15.72% compared to the previous year's profit of ¥190.11 million[3] - The estimated net profit after deducting non-recurring gains and losses is expected to be between ¥161.5 million and ¥186.5 million, reflecting a growth of 6.25% to 22.70% from last year's ¥152 million[3] - The impact of non-recurring gains and losses on the company's net profit is estimated to be approximately ¥33.5 million for 2025[5] Product Demand and Market Position - The demand for high-end composite optical films is strong, with a steady increase in orders and continuous volume production of new products[5] - The photovoltaic gap reflective film products have become standard materials for many leading component manufacturers, providing high-power and high-efficiency solutions[5]

Core Viewpoint - The company, Jizhi Technology, has been awarded the "Strategic Partner Award" by Zhao Chi Co., Ltd. for the fifth consecutive year, highlighting its strong strategic cooperation and product service capabilities in the display industry [1]. Group 1: Strategic Cooperation and Achievements - Jizhi Technology has collaborated with Zhao Chi Co., Ltd. since 2016, focusing on key products such as TV optical films and quantum dot films, establishing a comprehensive cooperation system from technology research and development to large-scale supply [1]. - The chairman of Jizhi Technology, Zhang Yan, has been invited to speak as a representative of strategic partners for five consecutive years, sharing valuable experiences and future plans regarding deep collaboration in the display industry [2]. Group 2: Industry Trends and Innovations - The display industry is undergoing dual transformations, with terminal product sizes increasing significantly, and new display technologies like Micro RGB accelerating, which presents new growth opportunities for the supply chain [2]. - Jizhi Technology has continuously innovated in the composite film sector, developing a rich product matrix that includes POP, MOP, DPP, and CPP series, while also focusing on integrated solutions to meet diverse display needs [2]. Group 3: Market Position and Future Outlook - Jizhi Technology has benefited from the domestic material localization trend, becoming one of the few companies in China to achieve stable supply of quantum dot films and composite optical films, with product quality reaching international leading levels [3]. - The company has established a technology ladder through independent research and development and collaboration with academia, ensuring a strong market share in high-end film materials [3]. - Looking ahead, Jizhi Technology aims to become a leading functional film company, enhancing its business layout, research and development, and team building [3]. Group 4: Focus Areas and Business Expansion - In the optical display field, the company will strengthen its core technological advantages and optimize cost structures while actively developing high-value-added optical films such as composite films, quantum dot films, and Mini-LED optical films [4]. - The company plans to leverage its accumulated experience in research and development and management to expand into the photovoltaic sector, focusing on gap-reflective films and other foundational products [4].

证券代码：300566 证券简称：激智科技 公告编号：2026-007 宁波激智科技股份有限公司 关于受让投资基金份额暨对外投资的进展公告 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。 一、对外投资概述 1、宁波激智科技股份有限公司（以下简称"公司"或"激智科技"）与 弘信创业工场投资集团股份有限公司签订了《财产份额转让协议》，受让其 持有的厦门云创星宸创业投资合伙企业（有限合伙）（以下简称"云创星宸" 或"基金"）1,575万元财产份额，并与各相关方签署了《厦门云创星宸创业 投资合伙企业（有限合伙）之合伙协议》（以下简称"合伙协议"）。 云创星宸为投资AI大模型公司而设立的专项投资基金。 具体内容详见公司于2026年1月16日在巨潮资讯网（www.cninfo.com.cn） 披露的《关于受让投资基金份额暨对外投资的公告》（公告编号：2026- 002）。 2、企业类型：有限合伙企业 3、统一社会信用代码：91350205MAK2CBRM23 4、主要经营场所：厦门市海沧区海沧大道567号2901单元之六十 5、经营范围：一般项目：创业投资（限投资未上市企 ...

证券代码：300566 证券简称：激智科技 公告编号：2026-005 宁波激智科技股份有限公司 关于日常关联交易预计的公告 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。 一、日常关联交易基本情况 （一）日常关联交易概述 统一社会信用代码：913302250982400604 2026年1月29日，宁波激智科技股份有限公司（以下简称"公司"）第五届 董事会第四次会议审议通过了《关于日常关联交易预计的议案》。根据公司业务 发展及日常经营情况，公司及控股子公司拟与关联方宁波勤邦新材料科技股份有 限公司（以下简称"宁波勤邦"）及其控股子公司发生日常经营性关联采购。2026 年1-5月预计与宁波勤邦及其控股子公司发生日常关联交易额度不超过7500万 元。本次预计额度的有效期自本次董事会审议通过之日起至2025年度股东会召开 之日止。关联董事张彦先生回避表决。本议案无需提交股东会批准。 注：公司控股股东张彦先生间接持有宁波沃衍股权投资合伙企业（有限合伙） 份额，宁波沃衍目前持有宁波勤邦23.57%的股权，按照"实质重于形式"原则， 公司出于审慎考虑，将宁波勤邦认定为公 ...

关于签署宁波天圆新材料有限公司之合资协议补充协议的公告 证券代码：300566 证券简称：激智科技 公告编号：2026-006 宁波激智科技股份有限公司 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。 一、对外投资概述 1、宁波激智科技股份有限公司（以下简称"公司"或"激智科技"）于2021 年3月30日召开第三届董事会第十三次会议，审议通过了《关于对外投资设立控 股子公司的议案》，同意公司出资2,650万元与上海弘名电子有限公司、宁波梅山 保税港区华岳投资合伙企业（有限合伙）、宁波江北天圆企业管理合伙企业（有 限合伙）（以下简称"江北天圆"）、宁波江北广圆企业管理合伙企业（有限合伙） 共同出资设立子公司宁波天圆新材料有限公司（以下简称"宁波天圆"或"标的 公司"），并签署《合资协议》。具体内容详见同日刊登于中国证监会指定的创业 板信息披露网站巨潮资讯网（http://www.cninfo.com.cn）的《关于对外投资设立 控股子公司的公告》（公告编号：2021-022）。 2、根据《深圳证券交易所创业板股票上市规则》、《公司章程》等有关规定， 本次变更事项 ...