电子行业点评：GCS与TGV MICRO LED亮相CES，玻璃基产业趋势有望增强

Investment Rating - The industry investment rating is "Outperform the Market" with a maintained rating [2][8]. Core Insights - The report highlights the emergence of glass substrates as a promising technology in the semiconductor packaging industry, showcased by SKC's Absolix at CES 2025, which is expected to enhance industry trends [7]. - Samsung's TGV MICRO LED technology, also presented at CES 2025, demonstrates advancements in display quality and energy efficiency, indicating a shift towards glass-based solutions in the display sector [7]. - The report suggests that the glass substrate market is in its early development stage, with potential uncertainties, but the advancements presented by leading international companies could strengthen the industry's trajectory [7]. Summary by Sections Industry Performance - The electronic industry has shown a performance of -3.44% over the last month, -1.45% over the last three months, and a significant increase of 27.19% over the last twelve months, outperforming the CSI 300 index in the long term [3]. Key Stocks - Wogang Optoelectronics is highlighted with an EPS forecast of -0.02 CNY for 2023, -0.03 CNY for 2024, and a positive turnaround to 0.30 CNY by 2025, with a rating of "Add" [5]. Investment Recommendations - The report recommends focusing on Wogang Optoelectronics, which is positioned to benefit from the glass substrate trend, as international leaders showcase relevant technologies and products [7].