Core Viewpoint - Longyan Technology (301618.SZ) reported a slight decline in revenue for the first three quarters of 2025, but showed growth in the third quarter, indicating resilience in the textile printing sector and a strong focus on sustainable products [1][2] Group 1: Financial Performance - For the first three quarters of 2025, the company achieved revenue of 403 million yuan, a year-on-year decrease of 2.7% [1] - In the third quarter, the company reported revenue of 131 million yuan, reflecting a year-on-year increase of 11.25% [1] Group 2: Product Development and Innovation - The company has made significant investments in R&D, with R&D expenses amounting to 23.36 million yuan in the first three quarters of 2025, representing a year-on-year increase of 13.17% [2] - Longyan Technology holds 41 invention patents and 7 utility model patents, showcasing its commitment to innovation [2] - The company has developed 21 eco-friendly products, including various types of elastic and digital printing pastes, which have received recognition as high-tech products in Guangdong Province [2] Group 3: Market Position and Strategy - Longyan Technology's water-based printing pastes are well-received by downstream clients, with applications in renowned brands such as Adidas, Nike, and Disney, positioning the company as a leader in the domestic market [1] - The company plans to deepen the industrial application of digital pastes and expand into new markets such as footwear and furniture, aiming for product diversification and increased market share [2] - Future strategies include enhancing collaboration with brand manufacturers and strengthening the marketing network to penetrate international markets [2]

Group 1 - The core viewpoint of the article highlights the financial performance of Changlian Technology, which reported a revenue of 553 million yuan for 2024, marking a year-on-year growth of 4.38%, and a net profit attributable to shareholders of 70.03 million yuan [1] - The overseas market contributed 116 million yuan in revenue, reflecting a significant year-on-year increase of 21.06%, indicating strong growth potential in international markets [1] - Changlian Technology's main products include water-based printing paste, water-based resin, and silicone for screen printing, primarily used in the textile printing sector, with notable applications in well-known brands such as Adidas, Nike, and Disney [1] Group 2 - The company has developed several core technologies, including new emulsion polymerization technology and bio-based water-based materials technology, with most technologies in mass production, enhancing competitiveness in the eco-friendly materials sector [2] - Changlian Technology has established a joint laboratory with SHEIN to collaboratively develop products, providing comprehensive solutions from materials to manufacturing to meet the fast-paced and personalized demands of consumers [2] - The company aims to continue product innovation and accelerate the development of new products to cater to the differentiated and personalized needs of downstream clients while expanding both domestic and international markets [2]