On January 5, 2026, Guofeng New Materials (000859) disclosed on the investor interaction platform that the company has currently invested in the construction of 12 polyimide film production lines, with an annual production capacity exceeding 1,500 tons, and the layout of its core product capacity continues to improve. Public information shows that Guofeng New Materials' main business focuses on the field of high-performance polymer functional film materials, with core products covering three major categories: biaxially oriented polypropylene film (BOPP film), biaxially oriented polyester film (BOPET film), and polyimide film. Among these, in the high-value-added polyimide film sector, the company has achieved industrial breakthroughs, with three major products—polyimide yellow base film for FCCL, polyimide black film for shielding, and polyimide carbon-based film—all in mass production. Simultaneously, the company continues to expand its high-end production capacity layout and is currently investing in a new polyimide film material project for flexible electronics. The leading products of this project include PI film for flexible circuits, PI film for graphite thermal conductivity, PI film for new energy vehicles, PI film for chip flexible packaging, and PI film for flexible displays. The designed annual production capacity is 350 tons, and upon completion, it will further expand the market space in high-end application fields such as flexible electronics and new energy.

In addition to its polyimide film business, Guofeng New Materials is also actively advancing its optical film material industry layout. In June 2024, the company announced plans to establish Hefei Guofeng Optoelectronic Materials Co., Ltd. with a full investment of 400 million RMB in cash. This subsidiary will specifically undertake the project of producing 1 billion square meters of optical-grade polyester base film annually, aiming to cultivate a key growth point for strategic transformation. The latest information from Qichacha shows that Hefei Guofeng Optoelectronic Materials Co., Ltd. has completed its registration and establishment, providing the foundational entity for advancing related projects.

Regarding equity acquisitions, Guofeng New Materials issued a major asset restructuring announcement on December 2, 2024, proposing to acquire a controlling stake in Taihu Jinzhang Technology Co., Ltd. (referred to as "Jinzhang Technology") through the issuance of shares and cash payments. However, as of now, the specific scope of the acquisition has not been finalized. According to the announcement, Jinzhang Technology was established on September 11, 2009, with its core business focusing on information display, large-scale integrated circuits, electronic components, and other fields. Its main products include functional protective materials, health eye protection films, optical conversion films, high-barrier films, high-end release films, and functional optical adhesives, which exhibit strong synergy with Guofeng New Materials' optical film and electronic-grade film material businesses.

Notably, Jinzhang Technology has a complex history of equity changes. In 2015, the company was acquired by A-share listed company Dongcai Technology, which obtained a 51% stake, achieving a backdoor listing. In March 2017, Shi Kewei repurchased a 19% stake from Dongcai Technology and entered into a concerted action agreement with Sun Jian and Chen Xiaodong, making the three the actual controllers of Jinzhang Technology. As of now, Dongcai Technology's shareholding in Jinzhang Technology has decreased to 24.54%. Additionally, Jinzhang Technology attempted an independent listing. In June 2020, its ChiNext IPO application was accepted by the Shenzhen Stock Exchange, but just six months later, in December 2020, it voluntarily withdrew its application documents, terminating the IPO process.

It is important to note that Guofeng New Materials' acquisition of Jinzhang Technology remains uncertain. According to the latest progress disclosed by the company on January 5, 2026, due to the expiration of the evaluation materials recorded in the transaction application documents, the Shenzhen Stock Exchange has suspended the review of the transaction. Currently, the company is working with relevant intermediaries to advance the supplementary evaluation and update of application documents and will apply for the resumption of the review in a timely manner. The company has indicated that the transaction still requires approval from the Shenzhen Stock Exchange and registration by the China Securities Regulatory Commission before it can be implemented. The final approval and implementation timeline remain uncertain.