Shenzhen Laibao High-Tech Co., Ltd. (hereinafter referred to as "Laibao High-Tech," "the Company," or "the Issuer") is a company listed on the main board of the Shenzhen Stock Exchange. To meet the funding needs for the implementation of the company's operational strategy and business development, seize industry development trends and market opportunities, further enhance the company's capital strength, optimize the capital structure, and improve core competitiveness, the company intends to issue stocks to specific objects to raise funds (hereinafter referred to as "this issuance") and has prepared this analysis report on the plan for issuing stocks to specific objects. Unless otherwise specified in this report, relevant terms have the same meanings as defined in the "Plan for Issuing A-shares to Specific Objects by Shenzhen Laibao High-Tech Co., Ltd. in 2026."
Background and Purpose of the Stock Issuance to Specific Objects
Background of the Stock Issuance
- National policies encourage and support the high-quality development of the electronic paper display industry. As a strategic emerging industry related to the new generation of information technology, the Chinese government places great importance on the development of the electronic paper industry and has introduced a series of policies and plans to support its development, encouraging high-quality growth in the electronic paper industry. The new display industry is an essential component of the digital economy, and electronic paper displays, as a new type of eye-protecting, energy-saving, and low-carbon display technology, align with national development strategies and industrial policies regarding digital China, energy conservation, environmental protection, and green development. In December 2025, during the national industrial and information work conference, the Ministry of Industry and Information Technology outlined key tasks for 2026, explicitly stating the goal of cultivating and expanding emerging industries and future industries, including integrated circuits, new displays, new materials, aerospace, low-altitude economy, and biomedicine.
This fundraising will primarily be used for the construction of the micro-cavity electronic paper display (MED) project (hereinafter referred to as "the MED project" or "this project"). The micro-cavity display (MED) technology to be adopted in this project can achieve dual-stable, reflective, paper-like display performance. The micro-cavity display screens (MED products) produced by this project belong to the category of micro-cavity electronic paper displays, which is one type of electronic paper. In the work reports of the Zhejiang Provincial Government for 2025 and 2026, the company's MED project has been highlighted as a significant investment construction case. The Zhejiang Provincial Development and Reform Commission and the Provincial Department of Natural Resources have also included this project in the "2025 Major Industrial Project List of the Province." According to the list of emerging industry cluster strong chain supplement projects ("415X" cluster new quality productivity) announced by the Zhejiang Provincial Economic and Information Technology Department and the Provincial Finance Department in June 2025, this project has been designated as an A-level project and has received relevant support from the provincial government. In March 2026, the Zhejiang Provincial Development and Reform Commission included this project in the first batch of major construction projects for the "Thousand Projects, Trillion" initiative for effective investment expansion in 2026.