Ningbo Merak Advanced Materials Technology Co.,Ltd. is a high-tech company specializing in optical interface materials, which has achieved success within 3 years18 patentsOur products cover cutting-edge fields such as AR/VR, fiber optic communication, and new displays. On the fertile ground of the “New Materials Science and Technology Innovation Highland” in Ningbo, the company is transforming from a technology follower to a domestic substitute for high-performance optical materials as a “cutting-edge force”!
Ningbo builds a new ecology in the field of new materials through the resonance of production and finance
Reporter Chen Ming, Tan Rong, Zhang Liang
The breakthrough from the origin of “0 to 1” to the leap in scale from “10 to 100”, engraved on the walls of the Yongjiang Laboratory exhibition hall, embodies the innovative story of Ningbo’s new materials industry. By actively building an integrated industry finance system and effectively introducing capital, Ningbo’s new materials industry is accelerating its transition from technological breakthroughs to large-scale applications.
Recently, at the “Capital Focus on Ningbo’s Frontier New Materials Industry” themed exchange event held in Ningbo, about 30 investors and entrepreneurs from top equity investment institutions, fund companies, securities companies, listed companies, and strong enterprises, along with relevant government officials, gathered together to conduct on-site research on the Zhejiang Province Flexible Electronics Industry Pilot Zone (Xigong University Ningbo Branch) and the Yongjiang Laboratory, two innovation “engines”. Through in-depth exchanges between government, enterprise, academia, and research, they explored a new ecological system of “capital+science and technology innovation+industry” in the field of new materials.
Capital Focus on Ningbo’s Frontier New Materials Industry “Theme Exchange Event
Both planning and supporting facilities are in place, and new material energy storage is gaining momentum
Currently, Ningbo is focusing on building a “361” modern industrial system that is independent, controllable, safe, reliable, competitive, and has Ningbo recognition. As one of the three iconic industrial clusters in Ningbo, the new materials industry has entered a high-speed development stage, with continuously expanding industrial scale, broad development prospects, and huge market potential, “said Fang Feilong, Deputy Minister of the Propaganda Department of the Ningbo Municipal Party Committee and Director of the Municipal Party Committee Network Information Office.
In recent years, the Ningbo Municipal Party Committee and Government have introduced a series of policy measures to accelerate the development of cutting-edge new material industries. Ningbo has gathered 25 national level single champion enterprises, 69 national level specialized and new “little giant” enterprises, and 810 high-tech enterprises in the field of new materials, ranking among the top cities in the country in terms of quantity.
Zhou Mi, the founder of Ningbo Merak Advanced Materials Technology Co.,Ltd. told reporters, “The company has been benchmarking overseas leading material companies since its inception. Ningbo’s abundant industrial resources and a number of high-energy platforms are important sources of confidence for Tianxuan’s rapid growth
Investors generally believe that Ningbo has formed regional advantages in terms of the density of scientific research platforms and the synergy of “industry+talent+finance”.
AI may disrupt the way materials are developed, but it cannot replace the essential properties of materials. Whoever can follow this logic has long-term value. ”In the view of Chen Aiguo, Chairman of Huafu Capital, the active youth scientific research group in Ningbo and the solid foundation of the manufacturing industry provide fertile ground for breakthroughs and innovative development in the materials field.
Industry and factor aggregation, accelerating the formation of a new ecology
Innovation begins with technology, thrives in industry, and grows from capital. “In the view of Ye Guobiao, Secretary of the Party Committee and Chairman of Shanghai Securities News,” capital+science and technology innovation+industry “is both a new development logic and a new ecosystem. The starting point for Shanghai Securities News and Ningbo to strengthen cooperation through investment exchange activities is to bring together scientists, entrepreneurs, and investors, connect talent chains, innovation chains, capital chains, and industrial chains, build a small ecosystem, and promote interaction, collision, and cooperation among various elements.
At this themed exchange event, Hong Kong Jingyu Investment Co., Ltd. (referred to as “Jingyu Investment”) signed intention to cooperate agreements with Zhejiang Jingyuan Membrane Technology Co., Ltd. (referred to as “Jingyuan Membrane Technology”), Shanghai Xinzi Investment Management Co., Ltd. (referred to as “Xinzi Investment”), and the National Graphene Innovation Center.
Signing a contract is just the beginning, more importantly, accompanying the growth of the enterprise, “sighed Shi Yongmin, Chairman of Jingyu Investment.
The signing of an investment intention letter with the National Graphene Innovation Center marks a solid and crucial step in our cooperation. It not only embodies the common vision and trust of both parties, but also carries a milestone for us to move from the secondary market to the primary market and invest in new material enterprises. “Mao Xinyu, Assistant General Manager of Xinzi Investment, said that in the future, the company will actively promote follow-up work with utmost sincerity and strive to transform the cooperation blueprint into fruitful results as soon as possible.
The convergence of science and technology innovation and capital, capital is eager for new targets
During our last visit, a new materials company in Ningbo had not yet raised funds. Now, this company has successfully completed two rounds of financing. The two-way empowerment of high-quality enterprises and the capital market fully confirms the vigorous vitality of Ningbo’s industrial ecology. “Chen Mouliang, Chairman of Shanghai Junhe Investment, said that through this inspection and exchange, he deeply felt the cutting-edge innovation and attractiveness of Ningbo’s new materials industry.
High quality projects have always been the core of capital competition. Ningbo has demonstrated strong resource integration and project incubation capabilities, which is the key to attracting capital to continue to increase. “Chen Mouliang said that Shanghai Junhe Investment has deeply cultivated and laid out in fields such as medical health, new energy, and information technology, and looks forward to further deepening cooperation and linkage with all parties in Ningbo to deeply empower the development of Ningbo’s industries.
From bookshelves to shelves, to the development and growth of enterprises, and then to the capital market, the most crucial aspect is to identify the market and truly transform technology into products. For investors, investment not only depends on technology, but also on the market positioning, differentiation advantages, and real reliability of products. “In the view of Luo Jinbao, Vice President of Youshan Private Equity Fund Management Co., Ltd., this visit to Ningbo has further impressed him with the pragmatic attitude and solid technological foundation of Ningbo enterprises. The company hopes to engage in diversified cooperation with Ningbo enterprises and explore multiple possibilities.
Lin Jun, a partner at Haiyuan Capital, and Guo Rui, an investment manager at Paradise Silicon Valley, have expressed that Ningbo enterprises have clear industrialization logic and clear application scenarios, which are the “source” for capital to find high-quality targets with certainty. Multiple institutions have revealed that they are considering further promoting merger and acquisition collaboration or conducting secondary market cooperation in Ningbo, and deeply participating in the growth path of local innovation projects.
The convergence of science and technology innovation and capital is accelerating, and industrial upgrading is at the right time. Ningbo is attracting talents and capital to deeply integrate into the local new materials industry chain with an increasingly open attitude and a more dynamic ecology. A high-quality and sustainable landscape of cutting-edge industries is slowly unfolding.
How does the “Yongjiang Model” of scientific and technological innovation cross the “Valley of Death”
Reporter Chen Ming, Tan Rong, Zhang Liang
Entering the Yongjiang Laboratory located in Ningbo, a clear “climbing road” diagram outlines the trajectory of a technology moving from the laboratory to commercialization. From research and development to commercialization, technological achievements need to overcome three difficulties: the valley of technological death, the valley of industrialization death, and the valley of profit death. At these critical points where it is easiest to “fall”, Yongjiang Laboratory actively explores and exerts precise force.
Improving the efficiency of technological innovation and truly transforming high-end technology into new quality productivity is the core mission of Yongjiang Laboratory. “Recently, Wu Xuedong, Deputy Director of Yongjiang Laboratory, stated in an interview with Shanghai Securities News that if Yongjiang Laboratory is compared to a precision factory, it invests top talents, cutting-edge technology, and resource elements, and ultimately produces a implementable and fast-growing technology entrepreneurial entity – this is exactly the positioning and pursuit of Yongjiang Laboratory.
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| Conduct on-site research |
Thick planting industry soil
Accurately crack the ‘Valley of Death’
In 2021, with the multiple missions of aiming at the forefront of international strategic technology, tackling the national “bottleneck” problem, connecting the innovation industry chain in Zhejiang Province, and supporting the high-quality development of Ningbo’s economy and society, Yongjiang Laboratory has stood up in response to the situation. For over four years, the laboratory has focused on two core directions: new materials and intelligent manufacturing. It has introduced 23 research teams from top universities and international research institutions, and has achieved a number of breakthrough results in the fields of nano polishing materials, semiconductor epitaxial growth trays, display materials and devices.
In Wu Xuedong’s view, the “thick planting industry” is the most distinctive feature of Yongjiang Laboratory. The research layout of the laboratory closely follows the future industry development trend, originating from the industry and preceding the industry. Whether it is the current booming new energy vehicles, low altitude economy, robots, AR/VR, artificial intelligence and other future industries, ‘lightweight, long range, high reliability, high frequency and high speed’ are the common underlying requirements of these industries. This requires us to develop a large number of new materials before the industry to meet and promote the rapid development of future industries.
However, the process of transforming technological achievements into industries is fraught with obstacles. There is often a cognitive gap between real needs and real problems. When predicting technological trends, it is necessary to have the sensitivity to accurately link cutting-edge technology with market demand. “Wu Xuedong admitted that the ability to transform industrial demand into scientific problems has become a” scarce resource “in the current field of technological innovation.
When scientific research results enter the industry, it is also necessary to consider the stability of the raw material supply chain, the repeatability of scale amplification, and the consistency of product batches, which are often the “knowledge blind spots” of scientists. To this end, Yongjiang Laboratory has specifically introduced and cultivated a group of composite technology management talents who understand scientific research and industry, possess management capabilities and investment perspectives, and promote the efficient connection between scientific principles and commercial profit models. In 2024, Yongjiang Laboratory will establish Yingnuo Incubator, integrating resources such as physical space, scientific and technological innovation services, venture capital funds, and high-energy public service platforms to provide a fertile ground for the growth of “seed technology”.
In the Yongjiang Laboratory Achievement Exhibition Hall, an LED holographic transparent screen is eye-catching – it can present realistic 3D animations and achieve perspective effects. The core technology of this display solution comes from the LED display driver chip independently developed by Ningbo Shiman Technology Co., Ltd. (referred to as “Shiman Technology”). And Shiman Technology is one of the first batch of companies to settle in Yingnuo Incubator. With this technology, Shiman Technologies has entered the supply chains of leading companies such as Asus, Apple, and Ruifeng Optoelectronics, with monthly orders exceeding 50 million units.
At present, Yongjiang Laboratory is building a science and technology innovation enterprise incubation system consisting of “Yingnuo Incubator+Science and Technology Innovation College+Angel Fund”, which will facilitate the virtuous cycle of “talent technology industry finance” and explore the “Yongjiang Model” of original cutting-edge technology entrepreneurship incubation. As of now, Yingnuo Incubator has gathered more than 20 technology innovation enterprises, building an innovation ecosystem cluster covering strategic emerging industries such as pan semiconductor, new energy, and new display.
Forward looking layout project
Enhance the efficiency of technological innovation
In terms of scientific research layout, Yongjiang Laboratory adheres to the principle of “three looks and three listens”, which means looking at technological trends, industry needs, and team leaders; Listen to the forefront voices of academia, listen to the practical suggestions of leading enterprises, and listen to the judgments of professional investment institutions, in order to achieve the two-way empowerment of technology and industry.
For different types of scientific research projects, Yongjiang Laboratory implements classified and hierarchical management: basic scientific research focuses on exploring new discoveries and principles, and implements a self driven management approach of “long-term evaluation and emphasis on representative achievements”, encouraging scientists to “sit on the bench and sharpen their swords in ten years”; The research and development of new technologies, materials, and products that are strongly related to industrial applications, from planning, project initiation to project completion and application, rely on information systems to implement closed-loop management throughout the entire lifecycle, and integrate industrial verification and quality management concepts throughout.
The core of the scientific research system is people. “Wu Xuedong believes that in the face of problems such as the mismatch between the allocation of scientific and technological resources and industrial demand, innovation in talent evaluation mechanisms is crucial. Yongjiang Laboratory innovates its technology evaluation system, advocating the value concept of “putting the strugglers first and achieving success first”, breaking the “five only” shackles of “only education, only qualifications, only hats, only papers, and only projects”, establishing a long-term evaluation mechanism of “only ability, only conduct, only responsibility, only performance and only contribution”, and stimulating the determination and subjective initiative of researchers to engage in applied innovation.
Facing the accelerated evolution of technological changes, Yongjiang Laboratory has always maintained a “strategic vigilance”. The rise of artificial intelligence and big data technology is profoundly reshaping the global scientific research landscape, and the decades long accumulation of traditional scientific research paradigms is facing the challenge of value reconstruction. Wu Xuedong stated that in the future, the laboratory will promote the transformation of AI led scientific research paradigms, lay out and construct a new material digital research and development platform, break the “island effect” of scientific research data, develop a number of iconic material products empowered by artificial intelligence, and promote the continuous emergence of major original achievements.
In the future, Yongjiang Laboratory will adhere to the principle of ‘walking on two legs’, “said Wu Xuedong. On the one hand, it will focus on deepening its expertise in several advantageous fields, such as plastic ceramics, smart metals, and other key materials with disruptive potential, and continue to invest with a 20-year or even longer-term vision; On the other hand, a dynamic “rapid response” mechanism should be established to accurately identify, predict, and actively embrace new technologies and industries. By creating an “innovation community,” respecting and strengthening intellectual property protection, optimizing distribution mechanisms, and taking the lead in proposing systematic solutions, we can seize the development opportunities.
Wu Xuedong stated that Yongjiang Laboratory is facing the challenges of technology and industry, actively exploring under the leadership of governments at all levels, and forging a path that is “uneven but more meaningful”.
Accumulate momentum to climb Ningbo and anchor the growth pole of “future manufacturing”
Reporter Chen Ming, Tan Rong, Zhang Liang
In Ningbo, a city known for its manufacturing industry, a group of emerging enterprises with “materials+technology+innovation” as their core are accelerating their breakthroughs in sub sectors such as optical films, micro/nano structures, and flexible electronics, becoming a vivid footnote to China’s new materials industry’s ascent to new heights.
In the first half of 2025, the added value of high-tech manufacturing and equipment manufacturing in Ningbo will increase by 13.1% and 6.5% respectively year-on-year. Among the city’s industrial enterprises above designated size, 4682 have new product output value, accounting for 42.9%. From the construction of the “361” modern industrial system to the research platform represented by the Yongjiang Laboratory, the cutting-edge new materials industry in Ningbo is constantly unleashing innovative momentum through the multiple forces of talent, technology, policies, and platforms. A group of enterprises with leading advantages in global sub sectors have emerged, promoting Ningbo to move towards a new highland of cutting-edge material manufacturing.
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Breaking through the “invisible technology” in segmented fields
Just like how semiconductors control the flow of electrons, what we need to do is control the flow of light, “said Zhou Mi, founder of Ningbo Merak Advanced Materials Technology Co.,Ltd.(referred to as” Tianxuan New Materials “).
In less than three years, Zhou Mi has led a team to achieve a breakthrough from 0 to 1 in the field of optical interface materials and successfully mass produced them, breaking the monopoly of foreign companies.
The so-called optical interface material is to change the direction, intensity, and even phase of the optical path passing through it through the special properties of the surface material; and the micro nano optics we are doing in it is to further increase the refractive index from the millimeter level to the nanometer level through microstructure, to regulate the direction of optical path refraction or diffraction. “Zhou Mi introduced that this technology is widely used in downstream scenarios of AR/VR waveguides and will become the solution for the next generation of display terminal products.
When the refractive index of most similar enterprises in China still remains in the range of 1.4-1.6, Tianxuan New Materials has achieved 1.9. We will have new breakthroughs recently, expected to approach 2.0 and be on par with the world’s best manufacturers, “said Zhou Mi.” Ningbo’s new materials industry has a solid foundation and complete system, which provides us with fertile soil from laboratory to mass production
Jizhi Technology is a typical representative of continuous “composite advancement” starting from display materials. In 2024, Jizhi Technology’s high-end products such as quantum dot films and composite films will achieve a revenue of 870 million yuan, a year-on-year increase of over 40%. The technology will cover multiple emerging application scenarios such as automotive, photovoltaic, and electronic paper, becoming a leading player in the domestic quantum dot film industry COP、 One of the few companies that provides stable mass production and supply of composite optical films, its downstream customers include many leading enterprises such as TCL, Hisense, Xiaomi, etc.
We followed the trend of thinner and lighter displays and achieved a ramp up in the yield of composite films two or three years ago. Since last year, there has been a significant increase in orders, and even four production lines have been expedited, “said Hu Jinfu, Vice General Manager of Jizhi Technology. The company is promoting further integration of films and boards and is expected to mass produce them next year.” Terminal screens will basically achieve borderless, both thin and efficient.
We are implementing the strategy of ‘mass production of the first generation, reserve of the first generation, and research and development of the first generation’. Currently, the materials and processes for the next generation of products are ready, “said Hu Jinfu. The company is expanding into multiple scenarios such as photovoltaics, new energy vehicles, and batteries, and actively reserves materials for emerging fields such as wide vision corneas and vehicle mounted quantum dot films. The gap reflective film we are currently making can improve the overall power generation efficiency of solar modules by 0.5% to 1%. As far as I know, only two companies in the industry, including us, can achieve this
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Cluster ecology creates’ visible leap ‘
The true advantage of Ningbo’s new materials industry lies in the deep integration of technology and industry. Many entrepreneurs have mentioned that Ningbo’s manufacturing foundation, the quality of industrial workers, the level of financial activity, and policy implementation are key factors for the rapid landing of enterprises and the transformation of technological achievements.
Ningbo is a hotbed of innovation and entrepreneurship. Here, the government ‘intervenes in everything and responds to every request’. If the soil is thick enough, innovation is easy to grow, “Zhou Mi commented. This is also one of the reasons why he returned from overseas and rooted himself in entrepreneurship in Ningbo.
It is reported that the construction of Ningbo’s new materials industry cluster has been listed as one of the three iconic industrial clusters that are key to the iteration and upgrading of the “361” modern industrial system. The Ningbo Municipal Party Committee and Government focus on six directions: chemical new materials, high-end metal alloys, rare earth magnetism, functional films, graphene, and integrated circuit electronic information materials, building a full chain ecology from basic research to industrial applications. At the same time, a number of cutting-edge new material research platforms such as Yongjiang Laboratory and Ningbo Institute of Materials Science and Technology of the Chinese Academy of Sciences are accelerating their technological breakthroughs. Innovation platforms such as the National Graphene Innovation Center and the Zhejiang Magnetic Materials Application Technology Manufacturing Innovation Center have been established, and technological achievements are continuously being transformed into actual productivity.
Our manufacturing engineering team is very mature and cooperates quickly; the government is pragmatic and efficient, able to respond to situations, and able to coordinate resources when faced with difficulties. “Hu Jinfu admitted that it is these key but difficult to detect soft environmental factors that provide important support for a large number of local startups and science and technology innovation projects in Ningbo.
In the first half of 2025, industrial investment in Ningbo will be active, with investments in technology services, information transmission, software and information technology services, and equipment manufacturing increasing by 37.3%, 18%, and 5% respectively, all of which are higher than the total investment level in Ningbo in the first half of the year. As of now, Ningbo has over 800 high-tech enterprises in the field of new materials, forming a cluster effect in multiple sub sectors such as functional films, magnetic materials, graphene, etc.
For the next development of Ningbo’s new materials industry, interviewed entrepreneurs expressed their expectation for further collaboration and expansion of the upstream and downstream of the industry chain, injecting sustained momentum into the industry’s development. On the one hand, we expect representative terminal brands to accelerate their rise, bridging the “last mile” from material innovation to product implementation, and truly unleashing technological value; On the other hand, it is also expected that the local area can cultivate more “small and refined, small and strong” professional enterprises in the upstream raw material sector, especially in key basic links such as fine chemicals, and build a more resilient industrial base.