Core Viewpoint - The article discusses the recent funding and growth potential of Feiman Technology, a company specializing in non-pneumatic tires, highlighting its innovative products and market opportunities in the tire industry [4][13]. Company Overview - Feiman Technology, founded in 2019 by Professor Liu Weidong from Jilin University, focuses on developing non-pneumatic tire technology and has recently completed a million-yuan angel round of financing to expand production and market reach [4][8]. - The company has introduced low-speed, low-load, and low-speed, high-load non-pneumatic tires, which are applicable to unmanned vehicles, electric vehicles, and special vehicles [4][8]. Market Opportunity - The non-pneumatic tire market currently holds a 30% share of the global tire industry, with the global off-the-road (OTR) tire market projected to grow from approximately $34.4 billion in 2024 to $43.8 billion by 2029, at an annual growth rate of 4.9% [8][9]. - Feiman Technology targets the non-road sector, capitalizing on China's large two-wheeler market and the increasing demand from unmanned and new energy vehicle sectors [8][9]. Product Development - Feiman Technology has developed a high-speed, high-load non-pneumatic tire for military applications and is now transitioning this technology to civilian products, including low-speed vehicles [9][12]. - The company has also innovated a segmented assembly rubber track that can reduce weight by up to 60% and save 25% in fuel consumption [9]. Business Model - The company operates on a light asset model, focusing on customized products, market-driven development, and technical collaborations, with significant investment in design and material research [11]. - Feiman Technology emphasizes the importance of a materials library and simulation design library to avoid product homogenization and maintain competitive advantages [11]. Industry Standards and Future Plans - In January 2025, Feiman Technology, in collaboration with Jilin University and the Shandong Rubber Industry Association, published the first industry standard for non-pneumatic tires, aiming to standardize the sector's development [12]. - The company plans to expand its product range for unmanned vehicles and explore applications in extreme environments [12]. Investor Perspective - Meihua Venture Capital recognizes the growing demand for high-quality automotive components and sees significant potential in Feiman Technology's innovative approach and strong R&D capabilities [13]. - The company has developed non-pneumatic tires that meet or exceed the performance of traditional pneumatic tires, with certifications from third-party organizations [13].