Core Viewpoint - Jebon Technology reported a significant revenue growth of 27.51% year-on-year for the first half of 2025, reaching 438 million yuan, despite a net loss of 38 million yuan [1]. Group 1: Financial Performance - The company achieved a revenue of 272 million yuan in the second quarter of 2025, marking a 50.89% increase year-on-year, with a net loss of 27 million yuan [1]. - The gross profit margin increased by 1.51% year-on-year, indicating successful business expansion and structural upgrades [1]. Group 2: Business Expansion and Market Position - Jebon Technology focuses on precision manufacturing products, primarily serving the consumer electronics and new energy sectors, with a notable increase in revenue reflecting its deep engagement in these areas [2]. - The global recovery in the consumer electronics industry has provided a favorable environment for the company's precision manufacturing business, with significant increases in shipments of desktops, laptops, and tablets [2]. Group 3: New Energy Sector Growth - The global sales of new energy vehicles reached 8.776 million units in the first half of 2025, a 29% increase year-on-year, driving demand for power batteries [3]. - Jebon Technology's new materials, such as carbon nanotube conductive pastes, have successfully entered the supply chains of leading battery manufacturers, contributing to rapid business growth [3]. Group 4: Strategic Investments and R&D - The company is in a strategic investment phase, which has temporarily affected net profits due to increased R&D and management expenses [4]. - Jebon Technology invested 38.131 million yuan in R&D in the first half of 2025, accounting for 8.71% of its revenue, establishing a solid technological barrier [5]. Group 5: Technological Advancements - The company has developed a comprehensive technical innovation system, including a CNAS-accredited laboratory for material testing and advanced production techniques [6]. - Jebon Technology's proprietary technologies in the new materials sector enhance the performance of lithium batteries, positioning the company favorably in the competitive landscape [7]. Group 6: Mergers and Acquisitions - The acquisition of a 51% stake in Sainogao has strengthened Jebon Technology's position in the cooling solutions market, creating synergies with its precision manufacturing business [8]. - Sainogao's established customer base and market channels provide Jebon Technology with valuable resources for growth in high-margin sectors [8]. Group 7: Future Outlook - The company is well-positioned to benefit from the ongoing growth in the consumer electronics and new energy sectors, with a dual focus on precision manufacturing and new materials [10]. - Jebon Technology's strategic geographic presence and customer-centric approach enhance its ability to respond quickly to market demands, fostering customer loyalty [11].

Company Overview - The company aims to become a trusted provider of precision manufacturing and new material application solutions, focusing on advanced precision manufacturing and new material R&D [2][3]. - The main products include precision functional parts and structural components used in consumer electronics and new energy lithium batteries [3]. Financial Performance - The company achieved a revenue of CNY 437.56 million, with a year-on-year growth of 27.51% [3]. - The net profit attributable to shareholders was -CNY 38.02 million, with a net profit of -CNY 30.09 million after deducting share-based payment expenses [3]. - The gross margin increased by 1.51% year-on-year [3]. R&D Investment - R&D expenses amounted to CNY 38.13 million, representing 8.71% of total revenue [3]. - Continuous high-intensity R&D investment is aimed at enhancing core competitiveness and responding to customer customization needs [3]. Strategic Acquisitions - The company acquired 51% of Sainuo Gaode, enhancing its business scope and customer structure [4]. - As of the report date, the company holds 49.90% of Sainuo Gaode's shares, which has been included in the consolidated financial statements [4]. Business Expansion - The company is actively developing new business areas, including CCS modules for lithium batteries and high-specific surface area carbon black products [6]. - Sainuo Gaode has achieved a supplier code from a major North American client, indicating progress in the heat dissipation component sector [7]. Inventory and Asset Management - The company recorded an inventory impairment loss of CNY 31.52 million, primarily due to poor quality during the ramp-up phase of production [8]. - The company is cautious in managing its assets and has a healthy debt ratio, allowing for potential financing opportunities [11]. Client Relationships - Major clients include Apple, Amazon, SONOS, META, and Google, with a focus on smart devices and home products [11]. - The company is working on new product development with META and has secured supplier codes for various high-profile clients [11].

Group 1: Business Overview - The company aims to be a trusted provider of precision manufacturing and new material application solutions, focusing on advanced precision manufacturing and new material R&D [2] - In the consumer electronics sector, the company produces precision functional and structural components primarily for laptops, all-in-one computers, tablets, and smart home devices [2] - In the new energy battery sector, the main product is carbon nanotube conductive paste, used as a conductive agent in lithium battery electrode preparation to enhance energy density and cycle life [2][3] Group 2: Financial Performance - In 2024, the company achieved total revenue of CNY 792.81 million, a year-on-year increase of 16.90% [3][6] - The net profit attributable to shareholders was CNY -19.35 million, with a significant reduction in losses compared to the previous year [6][7] - The company’s cash flow from operating activities was positive, indicating good operational efficiency [6][8] Group 3: Market Trends - The global consumer electronics industry showed moderate recovery in 2024, with smartphone shipments reaching 1.22 billion units (up 7%), personal computer shipments at approximately 255 million units (up 3.8%), and tablet shipments at about 147.6 million units (up 9.2%) [3] - The company’s carbon nanotube product revenue for 2024 was CNY 55.76 million, a year-on-year increase of 140.13% [3] Group 4: R&D and Innovation - The company invested CNY 57.94 million in R&D in 2024, accounting for 7.31% of total revenue, with 182 R&D personnel making up 11.10% of total employees [4][5] - The company obtained 53 patents in 2024, including inventions related to electronic circuit boards and laptop components, bringing the total to 62 effective invention patents and 246 utility model patents [5] Group 5: Risk Management and Future Outlook - Accounts receivable increased by 30.02% compared to the beginning of the year, but the company maintains a low risk of bad debts due to strong financial conditions of major clients [5] - The company plans to expand into thermal management products, high specific surface area carbon black, and integrated bus CCS, while continuing to strengthen its core business [6][7] - The company aims to achieve profitability in 2025, focusing on market expansion and product diversification [7]

Company Overview - Jebon Technology is a high-tech enterprise focused on precision components and structural parts in the Apple supply chain, aiming to become a trusted provider of precision manufacturing and new material applications [2][3] - The company operates primarily in the consumer electronics and new energy battery sectors, supplying products to major clients like Apple, Amazon, and BYD [2][3] Financial Performance - In 2024, the company achieved total revenue of CNY 792.81 million, a year-on-year increase of 16.90% [3] - The net profit attributable to shareholders was -CNY 19.35 million, with a significant reduction in losses compared to the previous year [3] - The gross margin improved from 21.57% in 2023 to 26.74% in 2024, indicating a healthier profit level [3] New Material Business Growth - Revenue from carbon nanotube conductive paste increased by 140.13% in 2024 compared to 2023, with expectations for continued growth in 2025 [3] - The company is actively developing new materials for solid-state batteries and has introduced a high specific surface area carbon black product line to meet diverse customer needs [3][6] Business Expansion and Client Acquisition - The company has added new clients such as Meta and Joby in the traditional components sector and is entering the next-generation product development phase [3] - In the cooling business, Jebon Technology has acquired a 49.90% stake in Sainogao, enhancing its capabilities in thermal management products [4][5] Q1 2025 Performance - In Q1 2025, the company's revenue remained stable year-on-year, but net losses increased to -CNY 11.24 million, primarily due to share-based payment expenses and increased R&D costs [4] - Despite the losses, the gross margin improved from 23.47% to 24.28% [4] Strategic Initiatives - The company is focusing on the CCS (Integrated Busbar) business, leveraging its existing client relationships in the new energy lithium battery sector [6] - Jebon Technology is also expanding its cooling product line, particularly in liquid cooling modules, to meet the rising demand from high-tech industries [8] Market Challenges and Responses - The lithium battery new materials sector is experiencing intense price competition, prompting the company to enhance its technological capabilities and product offerings [6] - The company is cautiously optimistic about the impact of tariff policies on its operations, as it operates in the mid-to-upstream segments of the supply chain [8]