In this August full of expectations, our Shenzhen team with full of enthusiasm and curiosity about the unknown, embarked on a journey to Yunnan, and started a group building named ‘Keeping Love, Going to the Mountain and the Sea Together’. This is not only a simple trip, but also a baptism of the soul, so that we in the magnificent natural scenery, deepen the friendship between each other, and witness the power and beauty of the team.Day 1: Shenzhen departure, the first impression of LijiangEarly in the morning of 7th August, when the first ray of sunshine penetrated the clouds, we were ready to go, waving goodbye in the hustle and bustle of Shenzhen, and heading towards the poetry and faraway place in our hearts - Lijiang. After hours of flight, when our feet stepped on the solid ground again, the unique flavour of Lijiang came to us. At lunch time, we tasted the authentic Naxi cuisine, the fresh aroma and uniqueness, which instantly dispelled the fatigue of the journey. Afterwards, we stayed in the carefully selected Lijiang Ancient City Side Hotel, where the ancient buildings make people feel like travelling back to the Ancient Tea and Horse Road of a thousand years ago. As night fell, the lights of Lijiang Old Town were dimmed, we strolled on the green stone road, feeling the quietness and prosperity of the old city, each light was like the fire of love in the heart of every member of the team, warm and bright.Day 2: The tranquillity of Shuhe Old Town, the vastness of LashihaiOn 8th August, with the breeze in the morning, we went to Shuhe Old Town. Compared with the bustle of Lijiang Ancient Town, Shuhe is more quiet and simple, with small bridges and flowing water, and ancient roads, each step echoing with history. In the afternoon, the vastness of the Lashihai Wetland Park made us relaxed and happy, the lake surface sparkling, the mountains in the distance, we strolled along the lake, enjoying the gift of nature, but also enjoy the tacit understanding and harmony between the team that does not need to say more.Day 3: The tenderness of Dali, the love of Erhai's ShuanglangOn 9th August, we drove to Dali, and the Erhai Shuanglang became the main character of the day. Standing by the Erhai Sea, looking at the Cangshan Mountains from afar and the blue waves from close by, all the troubles seemed to go away with the wind at that moment. The package experience in Xizhou Ancient Town was even more colourful, with the serenity of the idyllic scenery, the laughter of travel photography, the shock of aerial photography, the freshness of Hai Tongue Park, and the freedom of riding along the Erhai Sea, each activity immersed us in it and made us happy. As night fell, the warmth of the Dali hotel became our harbour after exhaustion.Day 4: The loftiness of Cangshan Mountain, the dream of Ideal StateOn 10th August, we challenged the Sentong cable car on Cangshan Mountain. As the cable car slowly rose, the scenery in front of us gradually became magnificent, with the majesty of Cangshan Mountain and the beauty of Dali Dam in our eyes. In the afternoon, we travelled to Santorini, the ideal state, and enjoyed a romantic afternoon tea time, with blue roofs and white walls, as if we were in a Mediterranean dream. In the evening, we returned to Lijiang with full of memories. Inside the hotel, we shared the wonderful moments of the day, laughter and warmth filled the whole room.Day 5: The holiness of Jade Dragon Snow Mountain, the reluctance of the return journeyThe 11th of August was the climax and the end of the trip. We stepped onto the Jade Dragon Snow Mountain with awe. The thrill and grandeur of the glacier ropeway shocked us, while the performance of ‘Impression of Lijiang’ made us feel the deep heritage of Naxi culture and the resilience of life. With the end of the performance, this ‘keep love, go to the mountains and the sea together’ Yunnan trip also drew a successful conclusion. Although we are reluctant to leave, we all know that every bit of this journey will become the most valuable treasure in our common memory.Looking back on this five-day journey, we not only enjoyed the beautiful scenery of Yunnan, but also learnt to persevere, tolerate and grow up in each other's company. In the future, no matter where we are, this love of life and loyalty to the team will shine in our hearts forever, just like the snow-capped Jade Dragon Snow Mountain.

Domestic IPM high-end applications there is still a long way to go, it is expected that in 2023 the domestic IPM market demand will be 2-3 times the current market size, automotive, industrial applications will be the hot spot of future market growth.Compared with discrete solutions, Intelligent Power Modules (IPMs) have unparalleled advantages in reducing board space, improving system reliability, simplifying design and accelerating time-to-market. According to the report "2019-2024 Intelligent Power Module (IPM) Industry Market Depth Research and Investment Prospect Prediction Analysis Report" published by Xinxin Industry Research Center, the domestic domestic Intelligent Power Module (IPM) market continued to grow at a high rate in 2018, with the average market growth increasing by 37.8% compared with that of 2017, and the business revenue of some manufacturers increasing by more than 50%. Domestic high-quality and highly reliable IPMs have been dominated by Japanese, German, and U.S. vendors, with foreign brands accounting for as much as 86% of the domestic market. Nowadays, China is becoming the largest market for semiconductor product applications, and the localized substitution of semiconductor products is booming, and domestic semiconductor manufacturers are accumulating strength and gradually making progress in the high-end application market.In 2018, the market growth rate of domestic manufacturers was higher than the average market growth rate, and the process of domestic substitution was accelerated significantly, and the shipment volume of domestic IPMs was 9.4 million pieces in 2018, and the domestic enterprises currently engaged in the IPM Module enterprises include Zhejiang Jiaxing Star Semiconductor, Changzhou Jiangsu Hongmicro Technology Company Limited, Shenzhen BYD Microelectronics, Nanjing Yinmao Microelectronics, Hangzhou Silan Microelectronics and so on.IPM can be widely used in different fields such as industrial, automotive, and consumer. According to the report "2019-2024 Intelligent Power Module (IPM) Industry Market Depth Research and Investment Prospect Forecast Analysis Report", domestic IPM is currently concentrated in the consumer field, and the automotive and industrial fields are still in the stage of development.In 2018, the highest proportion of IPM downstream fields was in the consumer field, with a market share of 92.4%. Overall, the development of domestic IPM is concentrated in the white goods "air, ice and washing" market, and the penetration rate of the industrial and automotive fields is relatively low.Industrial IPM is mainly used in industrial compressors, pumps, variable frequency drives, power tools and so on. It is expected that the compound annual growth rate (CAGR) of such market in the next three years is 5.1%, growing fast, which is mainly attributed to the rising labor costs leading to the increasingly strong demand for automation, and various energy regulations and testing standards such as ErP, IEC, GB3, etc., the increasingly stringent requirements for energy efficiency. Currently, IPMs are mainly used in high-power air conditioners, industrial inverters, industrial pumps and industrial fans, etc. It is estimated that the market volume of IPMs in the industrial sector has reached 290-320 million units.Industrial IPM is mainly used in industrial compressors, pumps, variable frequency drives, and power tools. It is expected that the compound annual growth rate (CAGR) of such market in the next three years is 5.1%, growing faster, which is mainly attributed to the rising labor costs leading to the increasingly strong demand for automation, and various energy regulations and testing standards such as ErP, IEC, GB3, etc., the increasingly stringent requirements for energy efficiency.Currently, IPMs are mainly used in high-power air conditioners, industrial inverters, industrial pumps and industrial fans, etc. It is estimated that the market volume of IPMs in the industrial sector has reached 290-320 million units.With the introduction of new fuel economy standards and increasingly stringent environmental regulations, electric vehicles (EV)/hybrid electric vehicles (HEV) ushered in the rapid development of automotive functional electronic trend is increasing, automotive electronics market in the next three years the CAGR is expected to reach 19%, with huge growth potential. In the automotive field, IPM is mainly used in standard products such as electric water pumps, electric fuel pumps, electric fuel pumps and electric cooling fans, as well as sensorless drive solutions that integrate gate drivers, microcontrollers (MCUs), power silicon and peripheral components.An automobile IPM usage can be up to 4-5 units, and with China's automobile sales of 22 million units in 2018, it is estimated that the market capacity for IPMs in the domestic automotive sector will reach 0.8-1.1 billion units.In the consumer IPM segment, it includes IPMs for consumer applications below 400 W and IPMs for consumer applications from 400 W to 4 KW. IPMs for consumer applications below I400 W have become quite popular in white goods such as air conditioners, washing machines, refrigerators, fan motors, dryers, dishwashers, and other applications due to the advantages of their small sizes, high efficiency, and high reliability.For applications with higher power levels, where EMI performance and thermal performance are extremely critical, while needing to take into account a high degree of integration, this segment of IPMs is mainly used in the field of high-power household appliances.According to the China Household Electric Appliances Association data in 2018, China's white goods "air, ice and washing" three annual production and sales volume has exceeded 350 million units, of which the demand for modules more than 180 million. Domestic white goods module market will reach tens of billions of dollars, but the current domestic self-sufficiency rate of less than 10%, more than 90% rely on foreign imports.Tomson Jie researchers believe that the current market IPM (intelligent power module) products are basically imported, expensive, resulting in high market prices, users are difficult to accept.In recent years to China's self-developed IPM power intelligent module has basically matured, but because the overall function is photolithography on the same chip, resulting in the number of photolithographic layers of up to 17 layers, the number of nano nodes rising straight up, technical difficulties, the number of photolithographic layers (number of nano nodes) and the cost of an exponential increase in the cost of manufacturing cost is expensive, for some of the low-end products, the cost-effective there is no place to live. Domestic IPM high-end applications there is still a long way to go, it is expected that in 2023 the domestic IPM market demand will be 2-3 times the current market size, automotive, industrial applications will be the hot spot of future market growth.

Jiangsu University of Science and Technology is a key player in China's higher education. It actively cultivates talents, promotes scientific research, and serves society. The university's School of Materials Science and Engineering focuses on cutting-edge materials technology and applied research, nurturing innovative and practical professionals for China's materials industry.Against this backdrop, our company donated 100,000 RMB to the Education Development Foundation of Jiangsu University of Science and Technology on November 14, 2023. This donation aims to boost the "Education Development Fund for the School of Materials," supporting the school's construction, talent cultivation, and discipline development, and propelling the high-quality growth of the university's educational endeavors.In talent cultivation, the fund will establish special scholarships to motivate students to study diligently and innovate, offering them broader academic horizons and better educational resources. It will also back the school's academic exchanges and practical projects, helping students enhance their abilities and gain experience.Regarding discipline development, the fund will help the school acquire advanced teaching and research equipment, improving teaching and research conditions. It will also support teachers in conducting teaching reforms and research projects, driving discipline innovation and boosting the school's academic standing in materials science.Looking ahead, we will keep innovating our project operation models, collaborating closely with the university to design and implement educational development projects, and boosting project efficiency. We'll also strengthen post-project tracking and assessment to monitor implementation and optimize projects continuously. We look forward to joining hands with Jiangsu University of Science and Technology to open new chapters in education, cultivate more top-notch talent for the nation, and contribute more to societal development.