Zhong Guo Jing Ying Bao·2025-07-01 13:28Core Insights - The founder and chairman of Hanwang Technology, Liu Yingjian, emphasizes the importance of focusing on forward-looking technologies such as scent recognition and biomimetic robots, while also advocating for retaining core technical personnel for potential future contributions [1][8] - Hanwang Technology has played a crucial role in the Chinese electronic paper industry, being one of the earliest companies to promote e-book readers, despite facing significant competition from Amazon's Kindle [3][4] - The electronic paper market is experiencing a resurgence, with projections indicating a 49.1% year-on-year increase in sales for 2024, positioning Hanwang as a leading brand in this sector [6][7] Company Development - Hanwang Technology's e-book business peaked in 2010 with sales of 1 million units, contributing 880 million yuan to the company's revenue, which accounted for three-quarters of its total revenue at that time [4] - The entry of Amazon's Kindle into the Chinese market in 2013 significantly impacted domestic e-reader manufacturers, leading to a 77% drop in Hanwang's e-book revenue in 2012 [4][5] - Despite challenges, Liu believes in the long-term potential of electronic paper, which is seen as a sustainable product with a growing market, especially in educational and office applications [6][7] Market Trends - The electronic paper market is projected to continue its growth trajectory, with advancements in technology and applications expanding beyond traditional reading devices to sectors like retail, transportation, and healthcare [7][8] - Hanwang Technology is focusing on hardware sales and has shifted its business model away from traditional content-sharing revenue streams [7] - The company plans to introduce a new electronic paper product comparable in size to mobile phone screens, leveraging a mature supply chain to reduce costs [8]