GL TECH(SZ:300480) Zhong Guo Zheng Quan Bao·2025-12-29 22:08Core Viewpoint - The demand for semiconductor equipment has significantly increased since July, leading to a reduction in delivery cycles and full production capacity for the company's domestic semiconductor slicing machines, prompting plans for a second phase of expansion [2][3]. Semiconductor Equipment Demand - The company has observed a strong demand for semiconductor equipment, with a notable increase in shipment volumes starting from the third quarter of this year, and this growth trend is expected to continue until 2026 [3]. - The company's semiconductor packaging and testing equipment includes precision processing equipment, high-performance air spindles, and consumables, establishing a competitive advantage in the semiconductor slicing field [3]. Market and Product Focus - The company's semiconductor packaging and testing equipment primarily serves OSAT and IDM manufacturers in Europe, Southeast Asia, and China, providing solutions in the slicing and grinding domain [4]. - The air spindle, a core component of the company's products, is also applicable in various precision manufacturing fields beyond semiconductors, with successful deliveries across multiple sectors [4]. Mergers and Acquisitions - The company has made three overseas acquisitions post-IPO, integrating technology and channels in the semiconductor equipment market, particularly in the wafer slicing sector [5]. - The acquired subsidiary ADT is among the top three global semiconductor slicing machine manufacturers, while the UK subsidiary LP is recognized for its pioneering work in air spindles [5]. Technological Advancements - The company is focused on high-precision slicing machines, which are critical for chip quality and production costs, utilizing advanced technologies such as high-precision air spindles and automated systems [6]. - The company aims to leverage its R&D capabilities across the UK, Israel, and China to enhance customer service and meet market demands effectively [6]. AI Integration - The company is advancing its "Artificial Intelligence+" initiative, integrating AI into manufacturing processes to enhance operational efficiency and drive strategic upgrades from equipment providers to intelligent solution service providers [7]. - AI is seen as a core driver for the company's growth, particularly in the context of the semiconductor industry's recovery, influencing the decision to initiate a second phase of production expansion [7]. - The integration of AI and large model technologies is also being applied internally to improve R&D and operational processes, thereby reducing costs and enhancing innovation focus [8].