Core Viewpoint - Suzhou Jinyi New Materials Technology Co., Ltd. has resumed its IPO process after a year of inactivity, aiming to capitalize on the growing demand for advanced inorganic non-metallic powder materials in the electronics industry [1] Company Overview - The company specializes in electronic information functional materials and thermal conductive materials, aligning with the current trends of electronic packaging upgrades and increasing power density [2] - Its products have entered the supply chains of leading companies such as Henkel, Dow Chemical, and BYD, establishing strong technical barriers and order stickiness due to long certification cycles [4] Market Position - The company has secured stable supply relationships with major global manufacturers of rigid copper-clad laminates, covering the top twenty in the industry [4] - In the context of rapid advancements in AI server infrastructure, the demand for high-performance computing chips is driving a structural upgrade in the electronic materials system [4] Technological Advancements - The transition from traditional auxiliary materials to key foundational supports is evident, as functional powder materials are becoming critical in determining end-product performance [2][12] - The high-end copper-clad laminate materials are evolving from M7 and M8 grades to M9 grades, which are designed to support ultra-high-speed signal transmission and high-density PCB structures [10] Future Outlook - The next-generation Vera Rubin 200 platform is expected to begin shipping in Q4 of this year, with NVIDIA's GB300 AI server cabinet projected to reach a shipment volume of 55,000 units next year, representing a 129% year-on-year increase [10] - The competition in advanced electronic packaging and thermal management materials will focus on high-frequency transmission efficiency and energy dissipation control, with companies that achieve breakthroughs in foundational material science likely to gain a competitive edge in the upcoming industrial cycle [12]

Core Viewpoint - Suzhou Jinyi New Materials Technology Co., Ltd. is making a renewed attempt to go public after previously withdrawing its application, focusing on advanced inorganic non-metallic powder materials, which are increasingly critical in the electronics industry [2][3]. Group 1: Company Overview - The company specializes in electronic information functional materials and thermal conductive materials, aligning with the trends of electronic packaging upgrades and increasing power density in the industry [3]. - The company has entered the supply chains of leading enterprises in the thermal conductive materials sector, including Henkel, Dow Chemical, and BYD, establishing strong technical barriers and order stickiness [5]. - In the inorganic functional powder sector for copper-clad laminates, the company has secured stable supply relationships with major global manufacturers, covering the top twenty rigid copper-clad board manufacturers [5]. Group 2: Market Trends and Developments - The rapid development of AI servers and advanced packaging is driving demand for high-performance materials, with specific requirements for filler purity, particle size distribution, and overall thermal performance [3][5]. - The transition of high-end copper-clad board materials from M7/M8 to M9 levels is raising standards for dielectric constant, dielectric loss, thermal stability, and dimensional stability, particularly for supporting high-density PCB structures [10]. - NVIDIA's upcoming release of the Rubin architecture GPU and new chips is expected to enhance AI server computing density and data transmission rates, further emphasizing the importance of high-performance materials [5][10]. Group 3: Competitive Landscape - The competition in advanced electronic packaging and thermal management materials will revolve around high-frequency transmission efficiency and energy dissipation control, with companies that achieve breakthroughs in material science likely to gain a competitive edge [11]. - The supply chain for NVIDIA's M9 copper-clad boards involves multiple segments, including board manufacturing, resin systems, copper foil, and functional fillers, with domestic companies making technological advancements in certain areas [10].

Group 1 - The company Jin Yi New Materials is restarting its IPO process after a previous attempt was terminated in February 2025 due to withdrawal by the company and its sponsor [4]. - The IPO guidance agreement was signed on February 10, 2026, with Guosen Securities as the guiding institution, Shanghai Jintiancheng Law Firm as the legal advisor, and Rongcheng Accounting Firm as the accounting firm [3][4]. - Jin Yi New Materials focuses on innovative technology research and industrial application in the new materials sector, specializing in advanced inorganic non-metallic powder materials [4]. Group 2 - The company's main products include electronic information functional materials, thermal conductive and heat dissipation functional materials, coating functional materials, and other emerging functional materials [4]. - Electronic information functional materials are primarily used in various types of copper-clad laminates, including IC substrates, while thermal conductive materials are mainly applied in high thermal conductivity adhesives or ceramic heat dissipation substrates [4].