Core Viewpoint - The company Sanli Pu has successfully transformed from a reliance on imported polarizers to becoming a leader in the global market, capturing 80% of the market share alongside two other domestic firms, showcasing a journey from "nothing" to "self-sufficiency" in the polarizer industry [2][3]. Group 1: Company Development - Sanli Pu was established in 2007, starting from scratch with no technology, equipment, or talent, and faced significant challenges due to foreign companies' refusal to share technology [3][4]. - The company built its first full-process polarizer production line in Putian, Fujian, after three years of development, marking a significant breakthrough from having no production capabilities [3][4]. - By 2010, the company recognized the need for a wide-format production line for the panel industry and managed to build it for only 1 billion yuan, which was one-seventh of the cost of importing Japanese equipment [4]. Group 2: Material Localization - Sanli Pu began to extend upstream in 2018, actively supporting domestic suppliers to overcome the high technical barriers in key materials such as base films, adhesives, and dyes, which were previously 80% reliant on imports [5][6]. - The localization rate of raw materials has exceeded 50%, with expectations to reach 80% by next year, potentially reducing costs by an additional 15% to 20% [6]. Group 3: Technological Innovation - The company has achieved significant advancements in reducing the thickness of polarizers, developing a 35-micron ultra-thin polarizer that is suitable for emerging applications like foldable screens and VR glasses [6][7]. - Sanli Pu has developed a high-durability dye-based polarizer for automotive displays, breaking the long-standing monopoly of Japanese companies in this sector [7]. - The company has also made strides in the VR/AR field with its Pancake optical film technology, addressing critical challenges in optical design for next-generation near-eye display devices [7]. Group 4: Financial Performance - In the first half of 2025, Sanli Pu achieved a revenue of 1.68 billion yuan, marking a year-on-year increase of 41.97%, with the second quarter revenue reaching 874 million yuan, reflecting strong growth momentum [7].

Core Viewpoint - The article highlights the significant progress made by Sanli Pu in the polarized film industry, showcasing its transformation from a market reliant on imports to a leading domestic player with a substantial global market share. Group 1: Company Development - Sanli Pu has achieved a breakthrough in polarized film production, moving from a state of having no technology or resources to establishing itself as a key player in the industry [3][4]. - The company was founded in 2007 and faced initial challenges, including a lack of technology, equipment, and talent, but successfully built its first full-process production line in Fujian after three years [4][5]. - By 2010, Sanli Pu constructed the first wide-format TFT polarized film production line in China at a cost of approximately 100 million yuan, significantly lower than the 700-800 million yuan required for imported equipment [5]. Group 2: Market Position and Innovation - Sanli Pu, along with two other domestic companies, now holds an 80% share of the global polarized film market, a significant shift from the previous reliance on Japanese and Korean imports [3][6]. - The company has increased its domestic raw material sourcing, achieving over 50% localization of key materials, with plans to reach 80% by next year, which could reduce costs by 15% to 20% [6][8]. - Sanli Pu has developed ultra-thin polarized films, reducing thickness from 200 microns to 35 microns, enabling applications in emerging fields such as foldable screens and VR devices [7][9]. Group 3: Technological Advancements - The company has made strides in the automotive display sector, developing high-durability polarized films that have passed multiple automotive-grade certifications, breaking the long-standing dominance of Japanese firms [9][10]. - Sanli Pu's Pancake optical film technology addresses critical challenges in folded optical path design for next-generation near-eye display devices, marking a significant technological advancement [10]. - In the first half of 2025, Sanli Pu reported a revenue of 1.68 billion yuan, a year-on-year increase of 41.97%, indicating strong growth momentum [10].