2025年12月28日，科大讯飞与全球电子纸领导厂商E Ink元太科技在深圳联合举办「T2000技术及MAX2 新品联合发布暨用户品鉴会」，正式推出全球首发元太T2000 时序控制芯片、国内首款搭载Oxide氧化 物背板技术的13.3英寸电子纸办公本MAX2。这款集 "大屏高清、高速响应、本地AI" 于一体的旗舰产 品，不仅破解了大尺寸电子纸"刷新慢、体验钝" 的行业痛点，更标志着电子纸设备从 "阅读工具" 全面 迈向 "专业生产力载体"，为高端办公市场注入颠覆性创新动能。 本次发布的核心亮点在于科大讯飞与元太科技的技术协同突破，推出全球首发搭载元太科技T2000时序 控制芯片、国内首款应用黑白墨水屏Oxide氧化物背板技术的办公本MAX2。依托这一核心技术组合， 新品实现了 "大屏" 与 "高速" 的双重突破 —— 作为国内首款13.3英寸300PPI墨水屏办公本，其不仅具备 适配A4文档阅览的超大视野，更借助T2000芯片10倍提升的图像处理速度与Oxide背板35%的刷新提 速，彻底改变了大尺寸电子纸 "刷新慢、体验钝" 的固有印象。同时，新品以 "大屏化 + 本地 AI" 为核 心竞争力，内置本地AI ...

格隆汇12月17日丨秋田微(300939.SZ)在特定对象调研中表示，公司已基本构建电子纸产品量产能力， 并实现了小批量出货。未来，公司将紧密顺应行业发展趋势与市场需求导向，持续驱动电子纸技术的迭 代升级，同时积极拓展产品的应用领域边界。为满足业务发展和增加海外生产基地布局的需要，公司在 泰国设立子公司，通过购买土地、购建固定资产等相关事项，建设泰国生产基地，将主要从事公司产品 生产制造销售业务。 ...

编号：2025011 投资者关系 活动类别 特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □电话会议 □其他：（请文字说明其他活动内容） 参与单位名称 及人员姓名 汇蔚基金：庄林源 远东宏信：黄光辉 企赋通科技：杨亚兵 个人投资者：王杏清 （排名不分先后） 时间 2025 年 12 月 17 日 15:00-16:00 地点 公司会议室 公司接待人员 姓名 副总经理兼董事会秘书：王亚彬 证券事务代表：廖琛琛 证券事务代表助理：唐军晶 投资者关系 活动主要内容 介绍 一、公司介绍企业文化、产品及业务等基本情况 二、与投资者交流环节 1.公司电子纸项目进展如何？出货量大概有多少？ 答：您好！1、根据公司《2024 年年度报告》，截至报告披露日，公 司已基本构建电子纸产品量产能力，并实现了小批量出货。未来，公 司将紧密顺应行业发展趋势与市场需求导向，持续驱动电子纸技术的 迭代升级，同时积极拓展产品的应用领域边界。2、公司严格按照相关 法律法规的要求进行信息披露，暂未对细分产品的相关数据进行单独 证券代码：300939 证券简称：秋田微 深圳秋田微电子股份有限公司 投资者 ...

格隆汇12月17日丨南极光(300940.SZ)在互动平台表示，公司电子纸业务目前已进入技术方案验证、样 品打样及小批量试产阶段。电子纸技术凭借低功耗、视觉友好、柔性可弯曲等特性，在电子书阅读器、 电子货架标签、智能办公及物联网等多类应用场景中展现出广阔的发展前景，公司对其后续应用和发展 持乐观态度。 ...

证券代码：300939 证券简称：秋田微 深圳秋田微电子股份有限公司 投资者关系活动记录表 编号：2025009 投资者关系 活动类别 特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □电话会议 □其他：（请文字说明其他活动内容） 参与单位名称 及人员姓名 国投证券：刘杨 东方财富证券：梁英钰、温琪 中国文化产业基金：陈财茂 工商银行：徐焕中 杭州银行：郑子华 个人投资者：张志宏、张秀峰、于昊 （排名不分先后） 时间 2025 年 12 月 02 日 15:00-16:00 地点 公司会议室 公司接待人员 姓名 副总经理兼董事会秘书：王亚彬 财务负责人：石俊 证券事务代表：廖琛琛 证券事务代表助理：唐军晶 投资者关系 活动主要内容 介绍 一、公司介绍企业文化、产品及业务等基本情况 二、与投资者交流环节 1.电子纸的优势有哪些？ 答：您好！电子纸是一种新型显示技术，具备反射自然光舒适护眼、 广阔的可视角度、断电显示低能耗、可柔性制造等优良特性，可应用 于电子价签、电子阅读器、电子胸牌、公告标牌、看板等多个领域。 随着全球数字化进程加速推进以及可持续发展理念深度普及，电 ...

Group 1: Company Overview and Product Development - The company has established mass production capabilities for electronic paper products and achieved small batch shipments as of the 2024 annual report [3] - The company has applied for 32 patents related to electronic paper technology, with 6 invention patents and 8 utility model patents granted as of December 31, 2024 [3] - The electronic paper market is projected to reach approximately $14.2 billion in 2024, with a year-on-year growth of 29%, and is expected to exceed $20 billion by 2028, with a compound annual growth rate (CAGR) of over 10% [3] Group 2: Market Applications and Competitive Advantages - The electronic paper technology is suitable for various applications, including electronic price tags, electronic readers, and smart home devices [3] - The company has a strong focus on customized touch display products, with core technologies in ARM control boards, industrial computers, and various display modules, leading to a competitive edge in the market [4] Group 3: Sales and Market Management - In the first half of 2025, the company's overseas sales accounted for 42.06% of total revenue, with major exports to North America, Europe, and Asia [6] - The company employs 70 sales personnel, focusing on customized products for terminal manufacturers and technology service providers [5] Group 4: Future Plans and Strategic Management - The company is developing a production base in Thailand to enhance overseas production capabilities [6] - The company aims to seek investment and acquisition opportunities that align with its strategic goals, focusing on upstream and downstream industries to enhance its competitive position [6]

Core Viewpoint - Zhejiang Dongfang Kema Electronic Co., Ltd. (referred to as "Dongfang Kema") is attempting to list on the Hong Kong Stock Exchange after failing to IPO in the A-share market due to increased profit requirements. The company faces declining profit margins and increasing financial pressure, with a cash balance of only 84 million yuan against liabilities of 763 million yuan [1][19]. Financial Performance - As of June 2023, Dongfang Kema's cash and cash equivalents were 84 million yuan, while total liabilities reached 763 million yuan, indicating significant financial strain [1]. - The company's revenue from 2020 to 2025 shows fluctuations, with figures of 477 million yuan, 864 million yuan, 1.214 billion yuan, 1.024 billion yuan, 1.152 billion yuan, and 796 million yuan respectively [11]. - Net profit for the same period was 68.69 million yuan, 89.11 million yuan, 91.88 million yuan, 50.74 million yuan, 53.40 million yuan, and 43.04 million yuan, reflecting a downward trend in profitability [11]. Market Position and Competition - Dongfang Kema ranks second globally in the smart IoT electronic paper display solutions market with a market share of 20.5% as of 2024 [6]. - The company is heavily reliant on E Ink Holdings, which holds a dominant position in the electronic paper industry, leading to reduced bargaining power for midstream module manufacturers like Dongfang Kema [5][12]. - The competitive landscape is intensifying, with new entrants and existing customers like Hanshu Technology starting to produce their own electronic paper modules, reducing their reliance on Dongfang Kema [16][18]. Cost Structure and Profitability - The gross profit margin for Dongfang Kema has been declining, with figures of 26.59%, 20.87%, and 22.95% from 2020 to 2022, and further dropping to 20.7% in 2022 and 15.8% in 2023 [13][12]. - The unit cost of products has increased, with the average selling price for small, medium, and large electronic paper modules showing a decline in gross margins [8][14]. Supply Chain and Raw Material Dependency - Dongfang Kema's procurement from its top five suppliers accounted for over 78% of total procurement from 2020 to 2025, with E Ink Holdings being the largest supplier [11]. - The company faces challenges due to high dependency on E Ink for core materials, which limits its ability to negotiate better terms and affects its overall cost structure [5][11]. Operational Challenges - The company has experienced a significant increase in inventory turnover days, rising from 85 days in 2020 to 124 days in 2025, indicating potential liquidity risks [21][22]. - Operating cash flow has been negative in several periods, highlighting issues with cash management and operational efficiency [20]. Future Outlook - Analysts suggest that Dongfang Kema has potential for growth if it can effectively manage its gross margin recovery, operational funding, and reduce dependency on a limited number of customers [16][19]. - The electronic paper market is projected to grow significantly, which could provide opportunities for Dongfang Kema if it can navigate its current challenges [16].

Core Viewpoint - The company has launched various electronic ink screen products, including electronic price tags, digital signage, electronic desk signs, and smart readers, which cater to different application needs in various scenarios [1] Product Development - The company is focusing on research and development of electronic paper products and technologies, with plans to expand into personal consumer markets and commercial application scenarios [1] - The new electronic paper full-color frame utilizes E Ink full-color electronic paper technology, showcasing excellent color display capabilities [1] Business Performance - Currently, the electronic paper business accounts for a small proportion of the company's overall business [1]

Core Viewpoint - Akita Micro's recent financial report shows a mixed performance with a revenue increase but a decline in net profit, highlighting potential concerns regarding accounts receivable and profitability metrics [1] Financial Performance - Total revenue for the reporting period reached 631 million yuan, a year-on-year increase of 21.37% [1] - Net profit attributable to shareholders was 51.26 million yuan, a year-on-year decrease of 5.78% [1] - In Q2, revenue was 363 million yuan, up 22.85% year-on-year, while net profit increased by 4.79% to 31.77 million yuan [1] - Gross margin was 23.89%, down 7.38% year-on-year, and net margin was 8.44%, down 19.98% year-on-year [1] - Total operating expenses were 50.73 million yuan, accounting for 8.05% of revenue, an increase of 6.21% year-on-year [1] - Earnings per share were 0.43 yuan, a decrease of 6.52% year-on-year [1] Balance Sheet Changes - Cash and cash equivalents increased by 74.93% due to an increase in dollar deposits [2] - Inventory rose by 35.6% due to an increase in raw materials and work-in-progress [3] - Contract liabilities increased by 37.08% due to higher prepayments [4] - Other receivables increased by 45.89% due to higher deposits and guarantees [6] Cash Flow Analysis - Net cash flow from operating activities increased by 200.71% due to higher sales collections and export tax refunds [7] - Net cash flow from investing activities decreased by 45.03% due to reduced purchases of financial products [7] - Net cash flow from financing activities increased by 57.8% due to the previous year's share buyback and bank loan repayments [7] Business Model and Market Position - The company relies heavily on research and development for its business model, particularly in the electronic paper sector [8] - The global electronic paper terminal market is projected to reach approximately $13 billion in 2024 and exceed $20 billion by 2028, with a compound annual growth rate of over 10% [8] - The company has applied for 32 patents related to electronic paper technology, with 6 invention patents and 8 utility model patents granted [9] Future Growth Prospects - The company plans to enhance its product offerings and expand into new application areas, focusing on technological upgrades and market demand [11] - The company is actively seeking investment opportunities to strengthen its industry position and drive sustainable growth [11]

Company Overview - Shenzhen Akitain Microelectronics Co., Ltd. focuses on electronic paper technology, which is characterized by low energy consumption and a wide range of applications, including electronic price tags and e-readers [2][3]. Market Potential - The global electronic paper terminal product market is projected to reach approximately $13 billion in 2024 and exceed $20 billion by 2028, with a compound annual growth rate (CAGR) of over 10% [2]. Product Development - As of December 31, 2024, the company has established mass production capabilities for electronic paper products and achieved small batch shipments [3]. - The company has applied for 32 patents related to electronic paper technology, with 6 invention patents and 8 utility model patents granted [3]. Sales and Export - In 2024, overseas sales accounted for 41.38% of total revenue, with major markets including North America, Europe, and Asia [3]. Impact of Tariffs - The company is minimally affected by U.S. tariffs, as direct exports to the U.S. are low. Recent trade agreements have led to the cancellation of 91% of tariffs on Chinese goods [4]. Automotive Sector - The company's products are utilized in automotive electronics, including dashboards and central control panels, with clients such as BYD and Nissan [4]. Future Growth Strategies - The company plans to seek investment opportunities that align with its strategic goals and enhance its competitive edge, focusing on high-potential sectors [5]. - The company has terminated certain fundraising projects to improve capital efficiency, reallocating funds to the electronic paper module production line [5]. Financial Performance - The company reports stable production and operational conditions, with future profit growth expected from product innovation and market demand alignment [6].