Core Viewpoint - The company has not yet ventured into chip manufacturing and packaging for functional films, focusing instead on its CPI film project which is currently undergoing customer validation [1] Group 1: Company Developments - The company is collaborating with the Institute of Physics, Chinese Academy of Sciences, for research and development, with details available in their announcement regarding the signing of a technology development contract [1] - The company has developed a unique separator product with ultra-high porosity, large pore size, and high compressibility, which can be widely used across different electrolyte technology routes [1] Group 2: Product Applications and Benefits - The separator product demonstrates a leading ionic conductivity in polymer solid electrolyte batteries, surpassing competitors by an order of magnitude [1] - In practical applications with other electrolyte routes, the product effectively addresses the expansion issues of carbon-silicon anodes or lithium metal anodes [1] - Overall, the product significantly enhances the cycle life, capacity, operating temperature, safety, and cycling performance of solid and semi-solid batteries compared to traditional separators [1]

Core Viewpoint - The company, Changyang Technology, is currently not engaged in chip manufacturing and packaging for functional membranes, focusing instead on its CPI film project which is under customer validation [1] Group 1: Company Developments - The company is collaborating with the Institute of Physics, Chinese Academy of Sciences, for research and development, with details available in their announcement regarding the signing of a technology development contract [1] - The company has developed a unique membrane product with ultra-high porosity, large pore size, and high compressibility, which can be widely used across different electrolyte technology routes in solid-state or semi-solid-state batteries [1] Group 2: Product Applications and Benefits - When applied in polymer solid electrolyte batteries, the company's membrane can achieve ionic conductivity that is an order of magnitude higher than competitors [1] - The membrane effectively addresses the expansion issues associated with carbon-silicon anodes or lithium metal anodes in practical customer applications [1] - Overall, the product significantly enhances the cycle life, capacity, operating temperature, safety, and cycling performance of solid-state and semi-solid-state batteries compared to traditional membranes [1]

Group 1 - The core viewpoint of the article is that Changyang Technology is currently validating its CPI film project with customers, indicating ongoing development and potential future demand [1] - The electrolyte composite membrane (solid-state battery skeleton membrane) has received orders from leading domestic and international clients, although the market demand has not yet ramped up significantly, resulting in minimal revenue impact in the short term [1] - The company is also developing an industry-first ion-conducting membrane, which is still in the verification phase [1]

格隆汇10月16日丨长阳科技(688299.SH)在互动平台表示，公司CPI薄膜项目目前正在客户验证中；电解 质复合膜基膜(固态电池骨架膜)已取得该行业国内外头部及腰部客户的企业订单，该产品市场需求尚未 放量，收入金额较小，短期内不会对公司经营业绩产生重大影响，敬请投资者注意投资风险；此外，公 司布局行业首创的导离子膜尚在开发验证中。 ...

Core Viewpoint - The company, Ningbo Changyang Technology Co., Ltd., is under continuous supervision by Huazhong Securities as part of its stock issuance and listing process, which will last from November 8, 2023, to December 31, 2025 [1]. Continuous Supervision - Huazhong Securities has established and effectively implemented a continuous supervision work system and has signed a sponsorship agreement with Changyang Technology, clarifying the rights and obligations of both parties during the supervision period [2]. - The supervision includes daily communication, regular visits, on-site inspections, and due diligence to ensure compliance with laws and regulations [2]. - Any violations or breaches of commitments by the company or related parties must be reported to the Shanghai Stock Exchange within five working days [2]. Internal Control and Governance - The company is required to establish and effectively implement internal control systems, including financial management, accounting, and internal audit systems [4]. - Huazhong Securities has verified that Changyang Technology's internal control systems comply with relevant regulations and are effectively executed [4]. - The company must also establish a sound information disclosure system, ensuring that all submitted documents do not contain false records or misleading statements [4]. Financial Performance - For the first half of 2025, the company reported a net profit attributable to shareholders of -8.55 million yuan, a decrease of 150.11% year-on-year, primarily due to increased financial expenses and impairment losses on fixed assets [6][13]. - The company's operating income for the first half of 2025 was 647.03 million yuan, down 18.81% from the previous year [13]. - The basic earnings per share for the first half of 2025 was -0.03 yuan, reflecting a 150% decline compared to the previous year [13]. Core Competitiveness - The company has accumulated significant technological advantages in the development and production of special functional films, achieving domestic leading levels in core technologies [14]. - The company has a strong research and development focus, with a total of 452 patent applications, including 417 invention patents [16]. - The company emphasizes quality control, having established a comprehensive quality management system that meets international standards [19]. Research and Development - The company invested 29.44 million yuan in R&D in the first half of 2025, accounting for 5.60% of its operating income [20]. - The company has successfully developed various products, including reflective films and optical base films, which have achieved international leading quality [21]. - The company is also advancing projects related to CPI films, aiming to break the monopoly of foreign companies in this area [22]. Use of Raised Funds - As of June 30, 2025, the company has managed its raised funds in compliance with relevant regulations, with a remaining balance of 29.14 million yuan [22].