Group 1 - The core viewpoint of the article is that the company, Jizhi Technology, has clarified the application of its quantum dot film products, which are primarily used in VR glasses and televisions, and have not yet been applied in perovskite and other fields [1] Group 2 - The company has engaged with the public through an interactive platform to provide insights into its product applications [1]

Group 1 - The core viewpoint of the article is that the company has not yet applied its quantum dot film technology in the perovskite field, focusing instead on products for VR glasses and televisions [2][3] - The company responded to an investor inquiry regarding the potential application of its quantum dot film technology in the perovskite sector, indicating no current plans or developments in that area [2]

Group 1 - The core viewpoint of the article is that the company's quantum dot film products are primarily used in end display products such as VR glasses and televisions, and have not yet been applied to perovskite technologies [1] Group 2 - The company, 激智科技 (300566.SZ), has clarified its product applications in an investor interaction platform [1] - The focus on VR glasses and televisions indicates a strategic positioning within the display technology market [1] - The absence of application in perovskite technology suggests potential areas for future development or diversification [1]

Core Viewpoint - The company, Jizhi Technology, is focusing on high-value optical films such as composite films, quantum dot films, and Mini-LED optical films to serve various end customers including TV displays and automotive applications [1][2]. Group 1: Financial Performance - In the first three quarters of 2025, the company achieved a revenue of 1,627.80 million yuan, with a net profit attributable to the parent company of 167.13 million yuan, remaining stable compared to the same period last year [1]. - The net profit excluding non-recurring gains and losses was 145.01 million yuan, reflecting a growth of 3.30% year-on-year [1]. - In Q3 2025, the company reported a revenue of 553.94 million yuan, a year-on-year increase of 6.49%, and a net profit of 50.60 million yuan, up 12.99% from the previous year [1]. Group 2: Business Segments - The company operates in four main segments: optical, photovoltaic, automotive, and battery [2]. - The optical segment has seen steady sales growth, with an increasing market share in high-end optical materials [2]. - The photovoltaic segment has faced challenges due to changes in battery types and international trade, but the company is actively developing new products to meet market demands [2][3]. Group 3: Product Development and Market Strategy - The company is optimizing its product structure and developing competitive new products, including polarizing film surface coating films and VR high color gamut quantum dot films [2]. - The growth of high-end optical films is expected to continue, driven by the increasing size of terminal products and the rising market share of domestic terminal enterprises globally [2]. - The company is committed to becoming a leading functional film company by enhancing R&D capabilities and focusing on precision coating technology across various fields [3].

Core Insights - The company has engaged in R&D collaboration with a well-known leading AI glasses manufacturer [1] - Multiple samples of high-end optical materials, including quantum dot films, have been validated [1] Group 1 - The collaboration indicates a strategic move towards enhancing product offerings in the AI glasses market [1] - The focus on high-end optical materials suggests potential for innovation and competitive advantage [1]

Group 1 - The company has engaged in R&D collaboration with a well-known leading AI glasses company [1] - Multiple samples of high-end optical materials, including quantum dot films, have been validated [1]

Core Viewpoint - The company, Jizhi Technology, is a significant partner of Xiaomi, providing various optical film products and technical solutions for Xiaomi's television and mobile phone models [1] Group 1: Partnership with Xiaomi - The company supplies diffusion films, brightness enhancement films, composite films, quantum dot films, and core layers tailored to Xiaomi's specifications for their television products [1] - The optical films are also utilized in certain models of Xiaomi's mobile phones [1] Group 2: Investment and R&D Collaboration - In 2017, the company invested in OLED emitting materials company Ningbo Lumi Blue through Ningbo Woyan Fund [1] - The M10 new red emitting material used in Xiaomi's 17 series mobile phones was developed in collaboration between Lumi Blue and Xiaomi's joint laboratory [1]

Core Viewpoint - The company, Jizhi Technology, is a significant partner of Xiaomi, providing various optical film products and technical solutions for Xiaomi's television and mobile phone models [1] Group 1 - The company supplies diffusion films, brightness enhancement films, composite films, quantum dot films, and core layers to Xiaomi's television products [1] - The optical films are also applied in certain models of Xiaomi's mobile phones [1] Group 2 - In 2017, the company invested in OLED emitting materials through Ningbo Woyan Fund, specifically in Ningbo Lumi Blue [1] - The M10 new red emitting material used in Xiaomi's 17 series mobile phones was developed in collaboration between Lumi Blue and Xiaomi's joint laboratory [1]

Core Viewpoint - The article highlights the growth trajectory of Jizhi Technology as a representation of China's manufacturing upgrade, emphasizing its role in breaking foreign monopolies in optical film technology and its resilience against industry cyclicality [3][4]. Company Overview - Jizhi Technology, founded by Zhang Yan, emerged in 2007 when the optical film market was dominated by Japanese and Korean companies. The company started with an investment of 8 million yuan from angel investors [4]. - The company focuses on optical films, essential for LCD panels, and aims to become the best functional film company globally [3][5]. Market Strategy - Initially, Jizhi Technology faced challenges in product development and market acceptance, but after overcoming technical difficulties, it successfully mass-produced optical diffusion films [5]. - The company adopted a pragmatic approach by targeting the domestic market first, leveraging product performance and cost advantages to prepare for entry into international brand systems [5]. Financial Performance - In the first half of 2025, Jizhi Technology reported revenues of 1.074 billion yuan and a net profit of 117 million yuan, with sales of high-end optical films increasing by 20.92% year-on-year [5]. Business Diversification - To mitigate cyclical fluctuations in the display industry, Jizhi Technology implemented a strategy called "one axis, one belt, one core," extending its optical film products into photovoltaic, automotive, and battery sectors [6]. - The company emphasizes the technical similarities between its existing products and those in new markets, such as photovoltaic backplanes and automotive window films [6]. Innovation and Development - Jizhi Technology is focused on enhancing product competitiveness through technological advancements, aiming to develop products that meet market demands and improve efficiency [7][8]. - The company is investing in AI to accelerate product iteration and enhance design capabilities, reflecting a commitment to innovation and quality [8]. Talent and Culture - The company prioritizes talent acquisition and development, implementing incentive programs to align employee growth with company success [8]. - Zhang Yan advocates for a shift in entrepreneurial mindset, emphasizing the need for innovative thinking in navigating complex economic landscapes [8].

Core Insights - Ningbo is actively building a new ecosystem in the new materials sector by integrating capital, technology, and industry, aiming for rapid growth and innovation [8][11][14] - The city has established a robust framework for the new materials industry, with significant government support and a focus on high-tech manufacturing [9][21][25] Industry Development - Ningbo's new materials industry is recognized as one of the three major industrial clusters in the "361" modern industrial system, with a focus on chemical new materials, high-end metal alloys, and graphene [9][25] - The city has attracted 25 national-level champion enterprises and 69 specialized "little giant" companies, positioning itself as a leader in the new materials sector [9][25] - In the first half of 2025, the added value of high-tech manufacturing and equipment manufacturing in Ningbo grew by 13.1% and 6.5%, respectively, indicating strong industrial performance [21] Investment and Collaboration - Approximately 30 investors and entrepreneurs participated in a recent event to explore investment opportunities in Ningbo's new materials sector, highlighting the collaboration between government, academia, and industry [8][11] - Investment firms are increasingly interested in Ningbo due to its strong resource integration and project incubation capabilities, which are essential for attracting capital [13][14] - Several investment agreements were signed during the event, indicating a commitment to support local companies in their growth and development [12][14] Innovation and Technology - The Yongjiang Laboratory is a key player in transforming scientific research into commercial applications, focusing on overcoming the "valleys of death" in technology and industry [15][16][17] - The laboratory has introduced 23 research teams from top global institutions, achieving breakthroughs in various fields, including nanomaterials and semiconductor technologies [17][18] - Companies like Tianxuan New Materials have made significant advancements in optical interface materials, breaking foreign monopolies and achieving high production standards [22][23] Future Outlook - The new materials industry in Ningbo is expected to continue its rapid growth, driven by a combination of strong manufacturing capabilities, active investment, and supportive government policies [21][25] - There is a call for further collaboration across the supply chain to enhance the resilience and competitiveness of the industry, particularly in upstream raw materials [26]