全球市占率超三成！国家级专精特新重点“小巨人”来改写衬底材料国际竞争格局

Core Viewpoint - Guangdong Zhongtu Semiconductor Technology Co., Ltd. (Zhongtu Technology) has officially received acceptance for its IPO application on the Sci-Tech Innovation Board, aiming to raise 1.05 billion yuan to enhance its core business and technology research, thereby solidifying its leading position in the global patterned substrate market [1]. Industry Overview - The patterned substrate materials industry is characterized by high technical barriers and market concentration, with Japan and the U.S. holding traditional advantages in sapphire and silicon carbide technologies, respectively. However, the rise of Mini/Micro LED and automotive electronics markets is reshaping the competitive landscape, favoring companies with innovative capabilities and large-scale production [3]. - Domestic companies, including Zhongtu Technology, have made significant breakthroughs in core technologies that were previously monopolized by a few countries, establishing a mature industrial path and gaining a crucial position in the global supply chain [3]. Company Positioning - Zhongtu Technology has established a leading market position with an annual production capacity of over 18 million pieces of 4-inch patterned substrates, holding approximately 32.76% of the global market share in 2023 [4]. - The company is one of the few globally capable of producing nano-level PSS and 8-inch patterned substrates, with its products widely used in new display technologies and automotive applications, successfully entering the supply chains of major global companies like Apple and Samsung [4][5]. Investment Plans - Zhongtu Technology plans to invest the 1.05 billion yuan raised from the IPO into three main projects: industrialization of Mini/Micro LED and automotive LED chip patterned substrates, establishment of a semiconductor substrate materials engineering research center, and supplementing working capital [5]. - The industrialization project aims to expand production capacity to meet the growing market demand, while the research center will enhance the company's technological capabilities and solidify its competitive edge [5]. Market Demand - The demand for patterned substrate materials is on the rise due to the rapid development of new display technologies and the electrification and intelligence trends in the automotive sector. Zhongtu Technology's IPO is expected to leverage capital market support for capacity expansion and technological upgrades, further enhancing its global competitiveness [6].