Core Viewpoint - Jie Mei Technology has highlighted its strong technical foundation in low roughness MLCC release films, which aligns well with the performance requirements of HVLP copper foil and PCB carrier copper foil [1] Group 1: Company Insights - Jie Mei Technology is currently in the process of evaluating the performance of HVLP copper foil, which has entered the sample submission phase for South Korea's Doosan [1] - The testing cycle for the new product samples depends on the evaluation results from the customers [1] Group 2: Industry Context - Roushen Technology has mastered the large-scale preparation technology for ultra-thin film materials, with extensive experience in copper vapor deposition, magnetron sputtering, and electroplating [1]

Core Viewpoint - The company, Jie Mei Technology (002859), is experiencing high industry prosperity, with its core products in full production and sales status, supported by strong downstream demand in various sectors such as 5G, cloud computing, and new energy vehicles [1][6]. Industry Overview - The current industry climate is favorable, with the company's core product, electronic packaging materials, operating at full capacity. The utilization rate of electronic-grade film materials is gradually increasing due to the acceleration of global digitalization and supportive policies like "new infrastructure" and "old-for-new" electronic product exchanges [1][6]. - The demand for electronic components is being driven by emerging applications such as servers, new energy vehicles, robotics, drones, wearable devices, and consumer electronics, providing a solid foundation for the industry's development [1][6]. Pricing Strategy - The company will consider industry conditions and raw material price fluctuations when adjusting product prices. With the recent price increases from downstream clients like Yageo, Huake, and Fenghua, the company is monitoring market changes to determine the timing for potential price adjustments [1][6]. Product Development and Client Engagement - The company has successfully transitioned to stable bulk supply of MLCC release film products to major clients, including Yageo and Huaxin, and has completed validation and bulk supply for Korean and Japanese clients like Samsung and Murata [2][7]. - The company is actively developing high-end release films to break the foreign monopoly and achieve domestic substitution, with ongoing research and trials in various applications [2][7]. Financial Performance - For the first three quarters of 2025, the company reported a main revenue of 1.526 billion yuan, a year-on-year increase of 13.74%. The net profit attributable to shareholders was 176 million yuan, a slight decrease of 0.7% [4][10]. - In Q3 2025, the company achieved a single-quarter revenue of 564 million yuan, up 12.19% year-on-year, with a net profit of approximately 77.43 million yuan, reflecting a significant increase of 38.53% [4][10]. - The company's gross profit margin stands at 33.69%, with a debt ratio of 56.59% [10]. Investment Sentiment - In the last 90 days, five institutions have rated the stock, all giving a buy rating, indicating positive sentiment towards the company's future performance [5][10]. - Recent financing data shows a net outflow of 15.986 million yuan in financing, while the margin balance has decreased, suggesting cautious investor sentiment [6][10].

Group 1: Investor Relations Activities - The company conducted investor relations activities on January 29 and 30, 2026, including specific object research and telephone conferences [2][3][4] - Participants included major financial institutions such as AIA Life, Huachuang Securities, Taikang Asset, and Huatai Securities [2][3] Group 2: Industry Insights - The current industry climate is favorable, with the company's core product, electronic packaging materials, operating at full capacity [3] - The utilization rate of electronic-grade film materials is gradually increasing, supported by global digitalization and policies promoting new infrastructure and electronic product upgrades [3] Group 3: Pricing Strategy - The company will consider industry conditions and raw material price fluctuations when adjusting product prices, especially in response to rising prices from downstream clients [3][4] - The demand for electronic components is expected to continue growing due to emerging applications in AI, new energy vehicles, and consumer electronics [3] Group 4: Product Development and Supply - The company has successfully achieved stable bulk supply of release films to major clients, including Yageo and Walsin Technology [4] - Ongoing R&D efforts aim to break foreign monopolies in high-end release films and improve product performance across various applications [4] Group 5: Strategic Partnerships - The company holds a 22.5% stake in Beijing Critical Domain Technology Co., which is expected to achieve mass production of core products by mid-2026 [4] - Key customers for Beijing Critical Domain include high-temperature superconducting strip manufacturers [4]

Core Viewpoint - Jiemai Technology (002859.SZ) is focusing on the development and production of composite copper foil and PCB carrier copper foil products, aiming to enhance its position in the market [1] Group 1: Company Developments - Jiangxi Rouzhen (formerly known as "Hongmei New Energy") will prioritize the development and production of composite copper foil and PCB carrier copper foil products [1] - The company’s affiliate, Beijing Critical Field Technology Co., Ltd., is dedicated to the industrialization breakthroughs of copper-based high-temperature superconducting materials and related application technologies, aiming to break foreign technology monopolies [1] - The copper foil products from the company’s affiliate, Rouzhen Technology, are currently undergoing sample testing for enterprises in the PCB industry chain [1]

Core Viewpoint - The company is focusing on the development and production of composite copper foil and PCB carrier copper foil products through its subsidiary, Jiangxi Rouzhen (formerly known as "Hongmei New Energy") [1] Group 1: Business Focus - Jiangxi Rouzhen will prioritize the development of composite copper foil and PCB carrier copper foil products [1] - The company is involved in the production of copper foil products that are currently being tested by enterprises in the PCB industry chain [1] Group 2: Technological Advancements - The company’s affiliate, Beijing Critical Field Technology Co., Ltd., aims to achieve breakthroughs in the industrialization of copper-based high-temperature superconducting materials and related application technologies [1] - The goal is to break the foreign technology monopoly and ensure the self-control of key raw materials in China's high-temperature superconducting field [1]

Group 1: Investor Relations Activities - The investor relations activities included a telephone conference held on January 26, 2026, from 13:30 to 14:30, with participation from Yongying Fund and Wanji Fund [2] - Additional telephone conferences were scheduled for January 27 and January 28, 2026, with various investment firms participating [3][4] Group 2: Industry Outlook and Product Pricing - The current industry outlook is positive, with the company's core product, electronic packaging materials, operating at full capacity [4] - The company is monitoring market conditions and may adjust product prices in response to rising costs from downstream customers [5] Group 3: Competitive Advantages - The company has established a strong customer base in the electronic information industry, providing a solid foundation for new product introductions [6] - It is one of the earliest companies in China to develop MLCC (Multi-Layer Ceramic Capacitor) release films, achieving stable supply to major clients [6] - The company has significant technical expertise in precision coating technology, enhancing its competitive edge in the release film market [6] Group 4: Production and Expansion Plans - The Tianjin production base is currently in the equipment debugging phase, with trial production expected to start within the first quarter of 2026 [7] - The company plans to leverage its new facility to enhance supply capabilities to strategic customers in North China, particularly Samsung [7] Group 5: Financial Health and Capital Expenditure - The company maintains sufficient bank credit limits and a normal debt ratio, ensuring financial stability for future capital expenditures [8] - It plans to conduct refinancing in line with the expansion pace of release film production [8] Group 6: Research and Development - The company is actively developing high-end release films for various applications, aiming to break foreign monopolies and achieve domestic substitution [7] - Beijing Critical Field Technology Co., in which the company holds a 22.5% stake, is focused on high-temperature superconductors and is expected to begin trial production mid-year [8]

Core Viewpoint - Jiemai Technology aims to become a leading provider of one-stop services and overall solutions for electronic component packaging materials and processes, focusing on electronic-grade film materials, electronic chemicals, and materials related to new energy [3]. Group 1: Company Developments - Jiemai Technology has been actively engaging with numerous institutions for research since January 16, including Shanxi Securities, Huatai Securities, and Tianhong Fund [1]. - The company has achieved a leading global market share in paper carrier tape, breaking the near monopoly held by foreign companies [3]. - Jiemai Technology is expanding its product offerings from electronic packaging materials to include electronic-grade film materials, achieving mass production of products such as release films and composite current collectors [3]. Group 2: Market Conditions - The electronic packaging materials sector is currently experiencing high demand, with core products operating at full production capacity [4]. - The acceleration of global digitalization, coupled with policies like "new infrastructure" and "old-for-new" electronic product exchanges, is driving demand in markets such as 5G, cloud computing, and new energy vehicles [4]. - The industry is in a period of explosive growth, with effective supply-demand matching being crucial for market capture [4]. Group 3: Pricing and Supply Chain - Recent price increases from downstream clients like Yageo and Walsin indicate a potential for Jiemai Technology to adjust its product prices in response to rising demand in sectors such as AI servers and new energy vehicles [5]. - Jiemai Technology has successfully transitioned to stable mass supply of MLCC release films to major clients, completing product validation with Korean and Japanese customers [5][6]. - The company has signed strategic supply agreements with major polarizer manufacturers for release films and is continuously developing high-end release films to replace foreign products [6]. Group 4: Acquisition and New Products - Jiemai Technology completed the acquisition of Jiangxi Rouzhen Technology, which specializes in polymer-metal composite film materials, enhancing its product portfolio for lithium-ion batteries [6][7]. - The new products from Rouzhen Technology, including composite aluminum and copper foils, are aimed at various battery applications, with a planned annual production capacity of 5 million square meters [7].

Core Viewpoint - Jie Mei Technology (002859) is leveraging its expertise in low roughness MLCC release films to meet the performance requirements of HVLP copper foil and PCB carrier copper foil, while collaborating with Youzhen Technology, which has advanced thin film material preparation technology [1] Group 1: Company Insights - Jie Mei Technology has a strong technical foundation in low roughness MLCC release films, aligning well with the performance needs of HVLP copper foil and PCB carrier copper foil [1] - Youzhen Technology possesses extensive experience in copper deposition techniques such as evaporation, magnetron sputtering, and electroplating, which enhances its product offerings [1] Group 2: Product Development and Capacity - Youzhen Technology's HVLP copper foil has been sent for sampling to South Korea's Doosan, with the testing cycle dependent on customer evaluation results [1] - The designed annual production capacity for Youzhen Technology's copper foil products is 5 million square meters, and the delivery cycle for related production equipment is short, indicating a potential for rapid expansion [1]

Core Viewpoint - Jie Mei Technology (002859) emphasizes the development and production of polymer metal composite membrane materials by Rouzhen Technology, which can replace traditional aluminum and copper foils in lithium-ion batteries, enhancing energy density and safety performance [1] Group 1: Product Overview - Rouzhen Technology specializes in composite metal membranes with a "sandwich" structure (metal coating/polymer layer/metal coating) [1] - The product line includes composite aluminum foil (PET aluminum foil), composite copper foil (PET copper foil, PP copper foil, PI copper foil), high-end ultra-thin copper foil, and PCB carrier copper foil [1] Group 2: Market Applications - The primary downstream applications are in consumer lithium batteries, power batteries (covering various power applications such as new energy vehicles, drones, two-wheeled small power vehicles, and cargo ships), energy storage batteries, and copper-clad board manufacturers [1]

Core Viewpoint - The electronic components industry remains at a high level of prosperity, with the company's core product, electronic packaging materials, achieving full production and sales. The company is also making significant progress in its release film and composite current collector businesses, poised to benefit from the growing demand in downstream markets such as 5G, AI, and new energy [1] Industry Demand and Growth - The acceleration of global digitalization, coupled with policies like "new infrastructure" and "old-for-new" electronic product exchanges, is driving strong demand in emerging application areas such as 5G networks, cloud computing, data centers, and new energy vehicles. This trend provides solid support for the company's business development [2] - The company's core product, electronic packaging materials, is currently in a state of full production and sales. Key downstream customers have begun to raise product prices, prompting the company to consider adjusting its product prices based on industry conditions and raw material price fluctuations [2] Product Development and Market Expansion - The release film business, a key focus for the company, has achieved stable bulk supply to major domestic clients and has completed the transition to self-manufactured base film products. The company has also successfully supplied its release film products to international clients such as Samsung and Murata, with ongoing volume ramp-up [2] - The company is developing a new growth area through its subsidiary, focusing on polymer metal composite film materials, which can replace traditional aluminum and copper foils in lithium-ion batteries, enhancing energy density and safety [4] Production Capacity and Strategic Positioning - The company's Tianjin production base is currently in the equipment debugging phase and is expected to start trial production in the first quarter of 2026. This facility will enhance the company's ability to supply strategic customers in North China, improving supply chain responsiveness and increasing market share among Korean clients [3] Competitive Advantage and Market Leadership - As a global leader in electronic packaging materials, the company has achieved a leading market share in the field. Through vertical integration, it has built a comprehensive capability in the electronic-grade film materials industry chain, expanding its business scope to include production process materials, optoelectronic display materials, and new energy materials [5] - With the continuous increase in downstream demand and steady progress in various businesses, the company is expected to further expand its market share and consolidate its leading position in the industry [5]