WG Tech(SH:603773) Ge Long Hui·2025-08-14 07:36Core Viewpoint - Wogao Optoelectronics (603773.SH) is leading the industry in glass-based circuit board technology for advanced semiconductor packaging, with significant recognition from major clients [1] Group 1: Technology and Innovation - The upgrade solutions for existing packaging substrate materials mainly include glass and ABF/PI, with glass-based packaging to PCB and all-glass multilayer stacking solutions being highlighted [1] - The all-glass multilayer stacking solution is technically challenging, requiring ultra-thin glass-based double-sided circuit boards and core equipment development [1] - Wogao Optoelectronics has established a strong technical reserve and equipment capability in this product area, positioning itself as a leader in the all-glass circuit board industry [1] Group 2: Market Applications - The company is successfully advancing various structures and solutions in collaboration with upstream and downstream industry chains for industrial application [1] - End application scenarios include optical modules/CPO, storage, logical reasoning, autonomous driving, robotics, and 6G communications, indicating a broad market potential [1] - Hubei Tongge Micro's multilayer GCP (glass circuit board) products are being developed and applied in Micro LED direct display and 6G communications, generating certain R&D revenue [1] Group 3: Market Potential - The new market increments are primarily driven by technological breakthroughs that replace existing technical pathways, suggesting a vast market space [1]