JHCC(SZ:002484) Shang Hai Zheng Quan Bao·2025-12-14 19:43Core Viewpoint - Jianghai Co., Ltd. is leveraging its long-standing expertise in capacitor manufacturing to capitalize on the growing demand for AI data centers, positioning itself as a key player in the emerging market for supercapacitors and other capacitor technologies [1][2]. Group 1: Company Overview and Product Development - Jianghai Co., Ltd. has been producing capacitors since 1970 and is now integrating its products into AI data center power systems, serving as backup power and voltage stabilizers [1]. - The company has developed a new generation of supercapacitors that can match or exceed the performance of Japanese competitors, with advantages in production costs [2]. - Jianghai Co. is pursuing two technological routes in supercapacitor development, focusing on both electric double-layer capacitors (EDLC) and lithium-ion capacitors (LIC) to enhance adaptability in AI power solutions [4]. Group 2: Technological Advancements and Collaborations - The company has a strong foundation in lithium-ion supercapacitor technology, dating back to its acquisition of Japanese ACT's intellectual property in 2013, and has continuously optimized its technology [4]. - Jianghai Co. has successfully entered the supply chain of leading overseas AI companies, indicating its competitive edge in the market [4]. - The company has developed a high-performance solid-state multilayer polymer capacitor (MLPC) that is now being delivered in bulk, showcasing its capability in high-power chip power supply filtering [4]. Group 3: Strategic Initiatives and Future Outlook - The entry of state-owned assets as a controlling shareholder has opened new avenues for business expansion and strategic development for Jianghai Co. [6]. - The establishment of the Jianghai Innovation Research Institute in collaboration with Zhejiang Economic Construction Investment Co. and Zhejiang Transportation Group aims to attract top research talent [6][7]. - The company anticipates that its aluminum electrolytic capacitors will continue to contribute over 80% of its revenue, while film capacitors and supercapacitors will drive new growth in line with advancements in renewable energy and AI [7].