格隆汇12月10日丨八亿时空(688181.SH)在互动平台表示，公司是专注于显示材料、半导体材料研发、 生产和销售的高新技术企业，主营业务为液晶显示材料。其中，半导体材料涵盖光刻胶树脂、聚酰亚胺 （PSPI）材料。1、公司以研发创新为核心驱动力，实现液晶材料国产化，持续为行业核心客户供货， 攻克多项关键材料国产化难题。2、半导体材料领域，公司近年加大资本与人才投入，已具备KrF光刻 胶用树脂全系列研发生产能力，彰显核心技术自主可控优势。公司研发的KrF光刻胶用PHS树脂的各项 性能指标优异，在金属离子杂质控制、单体溶剂残留控制、树脂分子量分布等关键指标方面达到了国际 先进水平，实现百公斤级稳定供货，树脂产线建设积极推动并建设完成百吨级产能储备。3、除了KrF 光刻胶树脂，公司在PSPI光刻胶方面也有进展，应用于显示面板领域含氟光敏聚酰亚胺面板光刻胶完成 工艺优化和产品稳定性验证，量产产线验证完成，无氟面板PSPI光刻胶完成小试并开展客户送样测试； 先进封装领域的感光树脂中试、高温封装胶配方小试均已完成，即将启动客户验证。此外，后续公司将 根据市场情况及公司战略安排适时开展ArF和EUV树脂的研发量产工作。公 ...

Core Viewpoint - The report highlights the financial performance and operational strategies of Beijing Bayi Space LCD Technology Co., Ltd. for the first half of 2025, indicating a decrease in profits while emphasizing ongoing investments in research and development to enhance product quality and market competitiveness [1][3][4]. Financial Performance - The company's operating revenue for the first half of 2025 was approximately 415.37 million yuan, representing a 10.63% increase compared to the same period last year [3]. - The total profit for the period was about 39.22 million yuan, a decrease of 32.12% year-on-year [3]. - The net profit attributable to shareholders was approximately 30.87 million yuan, down 37.90% from the previous year [3]. - The net cash flow from operating activities was negative 4.27 million yuan, a significant decline of 110.57% compared to the previous year [3]. Business Overview - The company specializes in the research, production, and sales of display materials, semiconductor materials, and pharmaceutical materials, with a primary focus on liquid crystal display materials [4][5]. - The company adopts a technology-driven market strategy, emphasizing independent research and development [4][5]. - The production model includes both order-based and stock production, utilizing advanced management systems for efficient operations [6][7]. Industry Context - The liquid crystal materials industry is experiencing significant growth driven by advancements in display technology and increasing demand for high-performance materials [8][9]. - The global display industry is undergoing transformation, with innovations in flexible and transparent displays creating new opportunities [8][9]. - The semiconductor industry is also evolving, with a rising demand for high-end photoresist materials, particularly in advanced manufacturing processes [10][11]. Competitive Position - The company has established itself as a key supplier in the liquid crystal materials market, recognized by major panel manufacturers such as BOE and Innolux [16][17]. - The domestic liquid crystal materials sector has seen a shift towards increased localization, with domestic products gaining market share and recognition for their quality [12][13]. - The company is positioned to leverage its technological advancements and partnerships to enhance its competitive edge in both the liquid crystal and photoresist materials markets [10][11][16].