Analysis of Technical Feasibility and Commercialization Prospects of Electronic Skin Products of RIYING ELECTRONICS (603286)

Based on the collected information and public materials, I will provide you with an analysis report on the technical feasibility and commercialization prospects of RIYING ELECTRONICS’ electronic skin products.

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RIYING ELECTRONICS (Jiangsu Riying Electronics Co., Ltd.) is a listed company focusing on the automotive components sector, with main products including automotive electronic sensor products such as automotive temperature sensors and pressure sensors. In recent years, the company has actively expanded into the intelligent and new energy vehicle sectors [0].

Financial Indicator	Value	Evaluation
Market Capitalization	$9.6 Billion	Mid-sized Listed Company
P/E Ratio	-563.88 (Negative Value)	In Loss
ROE (Return on Equity)	-1.95%	Weak Profitability
Net Profit Margin	-1.55%	Operating Efficiency Needs Improvement
Current Ratio	0.94	Weak Short-term Solvency
Quick Ratio	0.73	High Inventory Proportion
Latest Quarterly EPS	-$0.08	Sustained Loss

: The company is currently in a loss state, with financial indicators showing significant operational pressure. However, from the perspective of stock performance, its share price has risen by over 334% in the past year, indicating high market expectations for its future development [0].

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According to the company’s announcement, RIYING ELECTRONICS’ electronic skin product is positioned as

[0]. This definition indicates:

• Technical Path
  : Expansion from the automotive sensor field to the electronic skin field
• Core Capability Migration
  : Utilization of existing technical accumulations in temperature sensing and pressure sensing
• Application Scenario Expansion
  : Expansion from the automotive field to broader intelligent sensing fields

Indicator	Status
Customers	None
Orders	None
Related Business Revenue	None
Humanoid Robot Business Revenue	None

: The company has clearly stated that “uncertainties exist in future product matching and demand volume” [0], indicating that the product is still in the early R&D stage, and its commercialization prospects are yet to be clarified.

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From a technical perspective, there is a certain degree of technical relevance between electronic skin and traditional automotive sensors:

Technical Element	Automotive Sensor	Electronic Skin	Feasibility of Technology Extension
Temperature Sensing	✓ Mature Application	✓ Body Temperature, Environmental Sensing	High
Pressure Sensing	✓ Mature Application	✓ Tactile, Force Sensing	High
Materials Science	Partial Application	Core Requirement	Medium
Flexible Electronics	Partial Application	Core Requirement	Medium
Signal Processing	✓ Mature Application	✓ Sensing Data Processing	High

1. Material Technology
   : Electronic skin requires highly flexible substrates and conductive materials, which are significantly different from traditional rigid sensors
2. Integration Process
   : Integrating multiple sensing functions on an ultra-thin flexible substrate requires a new process route
3. Durability and Reliability
   : Electronic skin needs to maintain stable performance under repeated deformation conditions
4. Power Consumption Control
   : Power consumption management of large-area flexible sensor arrays is a technical difficulty

• Temperature and pressure sensing technologies can be directly transferred and applied
• Signal processing algorithms and system integration experience can be reused
• Automotive-grade quality control systems can support product reliability requirements

Assessment Conclusion

: The extension of RIYING ELECTRONICS from automotive sensors to the electronic skin field is

feasible at the basic technical level

, but faces core technical challenges such as

material processes and flexible integration

. Considering the company’s technical accumulation and industry experience, it is estimated that a

2-3 year

technical development cycle will be required to form a mature product solution.

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The electronic skin (flexible sensor) market is in a stage of rapid growth:

Application Field	Market Size (2025)	Compound Annual Growth Rate	Key Drivers
Humanoid Robots	Emerging Market	High Growth	Human-computer interaction, tactile feedback demand
Medical Health	Medium Scale	20%+	Wearable devices, remote monitoring
Consumer Electronics	Medium Scale	15%+	Foldable screens, intelligent touch control
Automotive Intelligent Cockpits	Growing	18%+	Intelligent interiors, occupant detection

Type of Competitor	Representative Enterprises	Strengths	Entry Barrier
Traditional Sensor Giants	Bosch, TDK	Scale, technical accumulation	High
Professional Flexible Electronics Enterprises	Royole, Meta Materials	Material, process innovation	Medium-High
Tech Giants	Apple, Huawei	Capital, application ecosystem	High
Start-ups	Multiple Start-ups	Innovation speed	Medium

:

• Strengths
  : Technical accumulation and customer resources in the automotive sensor field
• Weaknesses
  : Relatively weak technical reserves in flexible electronics and materials science
• Challenges
  : Need to collaborate with partners with advanced material capabilities for development

Phase 1 (2025-2026): Technology Validation Period
├── Complete core material R&D
├── Develop prototype products
└── Seek intended customers for joint development

Phase 2 (2026-2027): Product Finalization Period
├── Complete product reliability testing
├── Establish small-batch production capacity
└── Secure first customer orders

Phase 3 (2027-2028): Scale Expansion Period
├── Expand production capacity
├── Expand application scenarios
└── Achieve break-even

1. Technological Breakthrough
   : Solve problems in flexible sensing materials and large-area preparation processes
2. Financial Support
   : Continuous capital support is required for R&D investment and production line construction
3. Customer Validation
   : Gain recognition from leading enterprises in the robot or new energy vehicle sectors
4. Cost Control
   : Achieve cost levels comparable to traditional sensors
5. Ecological Cooperation
   : Establish cooperative relationships with robot complete equipment manufacturers and system integrators

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Risk Type	Risk Level	Explanation
Material Technology Risk	Medium-High	Performance of flexible materials may fall short of expectations
Process Development Risk	Medium	Large-scale production processes are not yet mature
Technological Iteration Risk	Medium	Rapid industry technological updates may surpass existing solutions

Risk Type	Risk Level	Explanation
Demand Uncertainty	High	The company has clearly indicated uncertainties in demand volume
Intensified Competition Risk	Medium-High	Large tech enterprises may enter the market quickly
Customer Development Risk	High	No existing customer base, needs to develop from scratch

Risk Type	Risk Level	Explanation
Sustained Loss Risk	High	Currently in a loss state
R&D Investment Pressure	Medium-High	New product development requires continuous investment
Cash Flow Risk	Medium	Low current ratio, quick ratio < 1

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Evaluation Dimension	Score	Explanation
Technical Feasibility	6/10	Basic technology is feasible, but flexible material processes are key challenges
Commercialization Prospects	4/10	Market demand exists, but the company currently has no customers or orders
Competitive Advantage	5/10	Has automotive sensor experience, but insufficient accumulation in the new field
Risk Level	Medium-High	Superimposed risks in technology, market and finance

:

• The electronic skin market has broad prospects and is in a stage of rapid growth
• The company’s stock performance is strong, with high market expectations
• If technological breakthroughs are achieved, it is expected to realize valuation restructuring

:

• The company has clearly stated “no customers, no orders, no related business revenue”
• Current financial status is poor, with sustained losses
• Significant uncertainties exist in technology development and market expansion

1. Focus on R&D Progress
   : Track the company’s patent applications and technological breakthroughs in the field of flexible electronic materials
2. Focus on Customer Development
   : Whether joint development agreements are obtained from customers in the robot or automotive industries
3. Focus on Financial Status
   : The impact of R&D investment on performance and cash flow management
4. Focus on Industry Dynamics
   : The impact of the development pace of the humanoid robot industry on electronic skin demand

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RIYING ELECTRONICS’ electronic skin product is a strategic layout for the company to extend from traditional automotive sensors to the intelligent sensing field. From the perspective of

, extension is feasible based on the technical foundation of temperature and pressure sensors, but flexible materials and process integration are still core technical thresholds that need to be broken through. From the perspective of , although the electronic skin market has broad space, the company is currently in a “three-none” state (no customers, no orders, no revenue), and has clearly indicated uncertainties in future product matching and demand volume.

: This business belongs to an early-stage strategic layout with high risks and high potential. Investors need to closely follow the company’s technological breakthrough progress and customer development. Due to the current low information and certainty, it is recommended that investors maintain a cautious attitude and wait for more substantial progress before making investment decisions.

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[0] Jinling AI - RIYING ELECTRONICS Company Profile, Financial Data and Announcement Information (Data as of January 20, 2026)