Core Viewpoint - Jiemai Technology (002859) reported a revenue increase of 13.74% year-on-year for the first nine months of 2025, while net profit decreased by 0.7%. The company is expanding its presence in the solid-state battery supply chain through the acquisition of Zhejiang Rouzhen Technology [1][2]. Group 1: Financial Performance - For the first nine months of 2025, Jiemai Technology achieved a revenue of 1.526 billion yuan, a year-on-year increase of 13.74% [1] - The net profit attributable to shareholders was 176 million yuan, reflecting a slight decline of 0.7% year-on-year [1] - In Q3 2025, the company reported a revenue of 564 million yuan, up 12.19% year-on-year, and a net profit of 77.43 million yuan, which is a significant increase of 38.53% year-on-year [1] Group 2: Business Operations - Jiemai Technology specializes in the research, production, and sales of electronic packaging materials and electronic-grade film materials, including paper carrier tape, electronic adhesive tape, and plastic carrier tape [1] - The company is actively integrating into the solid-state battery supply chain by acquiring Rouzhen Technology, which focuses on polymer metal composite film materials [1][2] - Rouzhen Technology's products are designed to replace traditional aluminum and copper foils in lithium-ion batteries, enhancing energy density and safety [2] Group 3: Strategic Developments - Jiemai Technology's acquisition of Rouzhen Technology involved an investment of 30 million yuan for a 4.7619% stake, increasing its ownership from 58.43% to 60.41% [1] - The company reported a 5870.57% year-on-year increase in net cash received from subsidiaries, primarily due to payments related to the acquisition of Rouzhen Technology [1] - In October 2025, Jiemai Technology signed a guarantee contract with a bank to support Rouzhen Technology's credit application of 140 million yuan, aimed at expanding production of composite aluminum and copper foils [2]

Core Viewpoint - The acquisition of a 100% stake in Jiangxi Hongmei New Energy Technology Co., Ltd. by Zhejiang Jiemai Electronic Technology Co., Ltd.'s subsidiary, Zhejiang Rouzhen Technology Co., Ltd., is aimed at enhancing resource integration and accelerating production capacity expansion in the polymer composite film materials sector, which is crucial for lithium-ion batteries [1][2][3] Group 1: Acquisition Details - Zhejiang Rouzhen Technology plans to acquire a 72% stake in Jiangxi Hongmei from Zhejiang Yuanlong and a 28% stake from Anji Hongmei for a total consideration of RMB 26.2824 million, matching the assessed book value of Jiangxi Hongmei's equity [1] - Following the acquisition, Rouzhen Technology will hold 100% of Jiangxi Hongmei, which specializes in manufacturing new film materials and electronic materials, primarily used in photovoltaic, new energy, and 6G electronic information industries [1] Group 2: Strategic Implications - The acquisition is part of Jiemai Technology's strategy to enhance the production capacity of Rouzhen Technology, focusing on composite current collector products such as composite aluminum foil and copper foil, which are essential for energy density and safety in lithium-ion batteries [2] - The integration of Jiangxi Hongmei's production lines will facilitate the deep collaboration of Rouzhen Technology's related businesses, leading to improved operational efficiency and profitability [2][3] Group 3: Expert Insights - The acquisition is viewed as a market-driven approach to optimize resource allocation, mitigate potential competition and related party transaction issues, and enhance the core competitiveness of the listed company [3]

Core Viewpoint - Zhejiang Jiemai Electronic Technology Co., Ltd. (Jiemai Technology) reported a revenue of 1.817 billion yuan for 2024, marking a year-on-year increase of 15.57%, with a net profit of 202 million yuan [1] Group 1: Financial Performance - The company achieved a revenue of 1.817 billion yuan, reflecting a growth of 15.57% year-on-year [1] - The net profit for the period was 202 million yuan [1] - R&D investment reached 171 million yuan, a significant increase of 85.5% year-on-year, primarily due to the development of high-end polyester films and other new materials [1] Group 2: Product Development and Market Expansion - Jiemai Technology has initiated the mass production of high-end release films, contributing 176 million yuan to revenue, which is a 35.38% increase [1] - The company has successfully started stable bulk supply of MLCC release films to major clients and has entered the bulk supply phase for Korean and Japanese clients [1] - The electronic packaging materials segment generated 1.571 billion yuan in revenue, up 13.09% year-on-year, with a focus on optimizing paper carrier tape products to meet the miniaturization trend in electronic components [2] Group 3: Strategic Investments - Jiemai Technology has extended its business into the field of new energy battery materials by acquiring control of Zhejiang Rouzhen Technology Co., Ltd. [3] - The company plans to invest 30 million yuan in Rouzhen Technology, acquiring a 5% stake, with an estimated valuation of approximately 600 million yuan [3] - Rouzhen Technology specializes in polymer composite metal membrane materials, which can replace traditional aluminum and copper foils in lithium-ion batteries, enhancing energy density and safety [3]