撰文丨王聪 编辑丨王多鱼 排版丨水成文 近日， 青岛大学 和 香港科技大学 的一项研究，登上了 Cell Press 头条。 该研究以 ： Self-powered eye-tracking system by harvesting the energy of blinking 为题， 于 2026 年 1 月 7 日发表在 Cell 子刊 Cell Repoers Physical Science 。青岛大学 龙云泽 教授、香港科技大学 范 智勇 教授为论文共同通讯作者。 该研究研究基于 摩擦纳米发电机 （TENG） 原理，提出了一种自供电眼动追踪系统—— ET-TENG ，通 过捕获 眨眼 时眼睑与眼球摩擦产生的能量 ，并将其应用于眼动检测，该系统有望彻底改变 渐冻症 等严重 行动障碍人士的辅助技术。 该系统突破了传统眼动追踪技术依赖外部电源、无法在黑暗中工作的瓶颈，其高灵敏度、简易结构和强抗 干扰能力为推动人机交互领域应用提供了技术支撑。 随着对眼睛的深入研究，人们发现可以 通过眼球运动来表达想法 。患有 肌肉萎缩症 （例如 渐冻症 ） 的 人可以通过移动眼球来控制轮椅和使用电脑。同样， 增强现实 （A ...

Core Viewpoint - The company has obtained agency qualifications for Yangtze Memory Technologies Co., Ltd. (YMTC) and ChangXin Memory Technologies Inc. (CXMT), primarily distributing their storage products in applications covering AI servers and the automotive sector [1] Group 1 - The company has been recognized as an agent for both Yangtze Memory and ChangXin Memory [1] - The collaboration with Yangtze Memory and ChangXin Memory focuses on distributing storage products [1] - The application areas for these products include AI servers and the automotive industry [1]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected investment return exceeding the market benchmark by more than 15% over the next 6-12 months [6]. Core Insights - The company reported a significant improvement in profitability, with a notable increase in net profit driven by management reforms and operational efficiency [2][4]. - New product launches in the first half of 2025 are expected to lay a solid foundation for future growth, including advancements in cooling solutions and automotive applications [3][4]. - The company is actively building a robust process platform and enhancing its competitive edge through collaboration with leading foundries and advancements in manufacturing processes [4]. Financial Performance Summary - For the first half of 2025, the company achieved revenue of 1.37 billion yuan, a year-on-year decrease of 13.4%, while net profit attributable to shareholders reached 157 million yuan, an increase of 71.09% [1]. - In Q2 2025, the company reported a revenue of 730 million yuan, down 9.45% year-on-year but up 14.02% quarter-on-quarter, with a net profit of 92 million yuan, reflecting a year-on-year increase of 66.09% and a quarter-on-quarter increase of 44.29% [2]. - The gross margin improved to 37.04%, up 8.14 percentage points year-on-year and 1.98 percentage points quarter-on-quarter [2]. Product and Market Development - The company launched several key new products in H1 2025, including high-performance mixed-signal chips and power management solutions, which contributed to its revenue streams [3]. - The new generation of piezoelectric micro-pump cooling solutions and automotive-grade LIN RGB atmosphere light driver SOC chips are expected to meet the demands of high-performance devices and automotive applications [3]. Profit Forecast and Valuation - The profit forecast for 2025-2026 has been adjusted to 395 million yuan and 548 million yuan, respectively, with a new estimate for 2027 at 710 million yuan [4]. - The projected price-to-earnings ratios for 2025-2027 are 55x, 40x, and 31x, respectively, reflecting the company's improving profitability and market potential for new products [4].