Zhejiang Jiemei Electronic and Technology Co Ltd

On September 11, major A-share indices opened lower. The MLCC concept saw an early-session surge, with Shuangxing New Materials hitting limit up in a straight line, while Yunzhong Technology, Fenghua Advanced Technology, Sinocera, and Jiemei Technology led gains. On the news front, MLCC leader Murata Manufacturing officially issued a notice announcing a product-line optimization starting in fiscal 2026, under which it will discontinue some MLCC products and expand other capacity. The discontinuation covers specific part numbers in consumer-grade standard series and automotive-grade series. Market analysts said Murata aims to stop producing low-margin or certain mature part numbers to free up capacity and focus on expanding advanced high-end product lines, prioritizing higher-margin, high-value-added products for AI servers amid limited capacity. On the same day, the tourism sector saw sporadic moves, with Qujiang Cultural Tourism hitting limit up and Guilin Tourism briefly touching limit up. Power stocks also moved sporadically, with Mindong Electric Power locking in its third consecutive limit-up board. Optical fiber concepts strengthened against the market, with Zhaolong Interconnect rising more than 10 percent. The nonferrous metals sector pulled back broadly, with Jingyi Metal and Northern Copper hitting limit down. The media sector fell in choppy trading, with China Publishing hitting limit down.

Jiemei Technology plans to invest an additional 428 million yuan in its North China production and research headquarters project, raising the total investment to 1.878 billion yuan. The release film capacity plan will be increased from 480 million square meters per year to 768 million square meters per year, with the project scheduled to begin production gradually before the end of 2027. The company said the adjustment is mainly based on growing MLCC demand driven by AI servers, new energy vehicles, robotics and other fields, which in turn boosts demand for MLCC release film. According to a Frost & Sullivan report, China's MLCC market grew from 36.02 billion yuan in 2020 to 55.91 billion yuan in 2024, and is expected to reach 82.36 billion yuan by 2029, with the domestic substitution rate likely to rise from 16 percent in 2024 to 24 percent in 2029.

Rifeng Cable plans to invest 700 million yuan to build a project with annual capacity of 300 tons of optical fiber preforms and 10 million fiber-kilometers of optical fiber. In addition, Ruifeng High Polymer plans to acquire no less than 51 percent equity in electronic-grade epoxy resin company Mituo New Materials for 400 million to 500 million yuan, and Jiemei Technology plans to invest an additional 428 million yuan in its North China production and research headquarters project to expand MLCC release film capacity. Sunwave Communications reported first-half net profit of 50.3935 million yuan, up 1,825.74 percent year on year; Grand Holding reported first-half net profit up 640.14 percent year on year and plans a dividend of 2.2 yuan per 10 shares; Raytron Technology reported first-half net profit up 258.78 percent year on year and plans a dividend of 5 yuan per 10 shares. Digital China plans to buy back shares worth 200 million to 400 million yuan, and Unitree Technology will list on the STAR Market on August 19.

Jiemei Technology disclosed a draft restructuring plan, proposing to acquire 100% equity of Changsha Efus Technology through share issuance, with a transaction price of 915 million yuan and a value-added rate of 506.95%. The target company's core products are ion beam polishing machines and magnetorheological polishing machines, which are key equipment for manufacturing core optical components of lithography machines. In 2025, it achieved revenue of 138 million yuan and net profit of 58.3754 million yuan, with a comprehensive gross margin exceeding 65%. The performance commitment party pledges that the total net profit from 2026 to 2028 will be no less than 221 million yuan. Affected by the news, Jiemei Technology's share price hit the daily limit up on August 11, closing at 81.32 yuan.

Jiemei Technology plans to acquire a 100% stake in Evers Technology for 915 million yuan. The target company is engaged in the research, development, production, and sales of deterministic polishing equipment for ultra-high-precision optical components. Today, the three major A-share indexes closed mixed, with market turnover at 2.54 trillion yuan, shrinking by over 140 billion yuan from the previous trading day. More than 4,000 stocks closed higher, including 103 hitting the daily limit. On the sector front, concepts such as ordnance equipment restructuring, chicken farming, pork, and dairy led the gains, while glass substrates, co-packaged optics, and F5G were among the biggest decliners. Institutional trading data showed Tongyu Communication topped net institutional buying at 170 million yuan, while Tianyu Digital topped net institutional selling at 158 million yuan. In other news, Construction Machinery plans to acquire a 100% stake in Pucheng Clean Energy Company and has suspended trading, Zhongrong Electric has secured an exclusive global nomination from a U.S. new energy vehicle startup, and Gan & Lee Pharmaceuticals has signed a licensing agreement with Menarini for the Bofagluptide project.

On the evening of August 10, multiple listed companies on the Shanghai and Shenzhen stock exchanges released important announcements. Gan & Lee Pharmaceuticals signed a licensing agreement with Menarini for the Bofang Glutide project, with an upfront payment of 62 million euros and milestone payments of up to 664 million euros. Construction Machinery plans to acquire 100% equity of Pucheng Clean Energy Company, and its shares will be suspended from trading starting August 11. Guolian Minsheng plans to reduce the registered capital of Minsheng Securities by 10 billion yuan, and Minsheng Securities will mainly engage in wealth management business. Weichai Heavy Machinery plans to invest approximately 538 million yuan to build a high-end equipment manufacturing base for electric power energy. Kunlun Tech plans to transfer its equity in Xianlai Huyu for 750 million yuan and also plans to issue H shares for listing in Hong Kong. Jiemei Technology plans to purchase 100% equity of Aifusi Technology through share issuance, with a transaction amount of 915 million yuan. Zhongke Magnetics plans to issue convertible bonds to raise no more than 609 million yuan, and Huicheng Vacuum plans to raise no more than 955 million yuan through a private placement. Aili Home will suspend trading from August 11 for verification after its stock price surged 185.56% over 11 trading days. In terms of performance, Jiangbolong's net profit in the first half of the year was 10.577 billion yuan, a year-on-year increase of 71,528.66%; Zangge Mining's net profit was 3.638 billion yuan, up 102.09% year-on-year, and it plans to distribute 10 yuan per 10 shares; Debang Technology's net profit rose 49.33% year-on-year, with a planned dividend of 1 yuan per 10 shares; Xinlian Integration's net profit was 278 million yuan, turning losses into profits year-on-year; Ninebot's net profit was 1.008 billion yuan, down 18.79% year-on-year. In addition, Beijing Junzheng, Jiangbolong, Zhaochi Holdings, and other companies disclosed buyback plans, and Fuwei Holdings received a seat project nomination worth approximately 3.936 billion yuan.

Sentiment in the MLCC supply chain continues to rise, with upstream material sales growing rapidly and multiple companies announcing expansion plans. Sinocera's half-year report shows that, benefiting from downstream demand recovery and growth in emerging areas such as AI servers and automotive electronics, the company's sales of MLCC dielectric powders and electronic pastes increased quickly. Jiemei Technology's release film business has seen a significant sales jump since March this year, with volumes more than doubling year-on-year, and it expects supply to fall short of demand through the first half of next year. Sinocera announced that, effective July 27, 2026, it will raise the selling price of zirconia powder by approximately 10% to 40%. Hongyuan Electronics plans to raise no more than 300 million yuan for a technological transformation project to industrialize multilayer ceramic capacitors and adjustable capacitors, while Boqian New Materials intends to invest about 202 million yuan in a nickel powder expansion project.

Jiemei Technology disclosed that release film shipments in June surpassed 40 million square meters. The company’s MLCC release films are now in stable mass supply at major clients including Yageo, Walsin Technology, Fenghua Advanced Technology, Three-Circle Group, and Weiyuan Electronics, and have completed customer onboarding for domestic clients such as Eyang Technology. At the same time, they have successfully passed verification and begun mass supply to major Korean and Japanese clients like Samsung, Murata, and Taiyo Yuden, with the Korean client’s overseas base already starting mass supply. Breakthroughs have been made in high-end MLCC release films, achieving stable application of thin-layer, high-capacitance products at clients. Release films for polarizers are already in stable mass supply to major polarizer manufacturers, and strategic supply agreements have been signed with multiple clients. The company is also advancing the development of various high-end release films based on self-made BOPET materials, further breaking foreign monopolies and achieving domestic substitution.