Concept Performance - The PET copper foil concept saw a daily increase of 2.09%, while the combustible ice concept experienced a decline of 4.14% [1] - Other notable increases included photolithography at 1.45% and BC battery at 1.13%, while short drama games fell by 3.07% [1] Low-E Glass Concept - The Low-E glass concept had a net inflow of 0.45 billion yuan, with seven stocks receiving net inflows, led by Wanshun New Materials with 20.91 million yuan [1] - Key stocks in the Low-E glass concept included Wanshun New Materials, Hainan Development, and Qibin Group, with respective net inflows of 20.91 million yuan, 17.66 million yuan, and 13.23 million yuan [1] Stock Performance - As of June 20, the Low-E glass concept increased by 0.64%, ranking 10th among concept sectors, with Wanshun New Materials, Hainan Development, and Qibin Group leading the gains at 4.68%, 2.64%, and 1.62% respectively [3] - Decliners in the Low-E glass concept included XinSai Co., Sanxia New Materials, and AnCai High-Tech, with declines of 2.53%, 1.00%, and 0.22% respectively [3] Fund Flow Ratios - Fund inflow ratios were highest for Qibin Group, Wanshun New Materials, and Hainan Development, with net inflow rates of 11.05%, 7.29%, and 5.62% respectively [2][4] - Wanshun New Materials had a trading volume of 20.91 million yuan and a turnover rate of 7.81% [2]

Core Viewpoint - The perovskite battery concept has shown a positive performance with a 1.06% increase, ranking fourth among concept sectors, indicating growing investor interest and potential in this technology [1][2]. Market Performance - As of June 20, the perovskite battery sector saw 35 stocks rise, with notable performers including: - Keheng Co., Ltd. (科恒股份) reaching a 20% limit up - Saiwu Technology (赛伍技术) and GCL-Poly Energy (协鑫集成) also hitting the limit up - Jin Xin Nuo (金信诺) and Woge Optoelectronics (沃格光电) increasing by 6.43% and 4.18% respectively [1][2]. - The sector experienced a net inflow of 566 million yuan, with 31 stocks receiving net inflows, and 7 stocks exceeding 30 million yuan in net inflow [2]. Key Stocks and Their Performance - The top stocks in the perovskite battery sector based on net inflow and performance include: - Keheng Co., Ltd. (科恒股份): 20% increase, 2.51 billion yuan net inflow - GCL-Poly Energy (协鑫集成): 9.91% increase, 2.50 billion yuan net inflow - Saiwu Technology (赛伍技术): 10.04% increase, 963.47 million yuan net inflow - Jin Xin Nuo (金信诺): 6.43% increase, 581.85 million yuan net inflow [3][4]. Sector Comparison - The perovskite battery sector's performance is compared to other sectors, with notable increases in: - PET Copper Foil: 2.09% - Lithography Glue: 1.45% - BC Battery: 1.13% - Conversely, sectors like Combustible Ice and Brain-Machine Interface saw declines of -4.14% and -3.34% respectively [2].

一、行情回顾 沪指全天窄幅震荡，创业板指尾盘跌近1%。航运板块逆势走强，宁波海运等涨停。白酒股盘中拉升，皇台酒业涨停。银行股继续走强，工商银行等再创历 史新高。光伏板块冲高回落，赛伍技术等涨停。固态电池概念反复活跃，湘潭电化等涨停。下跌方面，油气股集体下挫，贝肯能源跌停；IP经济概念震荡调 整，元隆雅图跌停。个股跌多涨少，沪深京三市约3600股飘绿，今日成交1.09万亿。 二、当日热点 1.固态电池 固态电池板块今日继续活跃，诺德股份4连板，海科新源2连板，湘潭电化、英联股份等涨停。 申港证券认为，国内不断出台相关政策，助力淘汰落后产能、防止供给端"无序扩张"，光伏行业有望加速筑底。随着技术进步，颗粒硅应用规模有望扩大， 带动多晶硅成本下降。硅片/电池片/组件成本将降低，盈利空间有望修复及扩展。 3.光刻机 | 股票名称 | | 最新价 = | 涨跌幅 = | 涨停时间 ◆ | 换手率 | | --- | --- | --- | --- | --- | --- | | 诺德股份 600110.SS | 4天4板 | 5.15 | +10.04% | 09:31:58 | 7.62% | | 海科新源 3012 ...

截至6月18日收盘，先进封装概念上涨1.79%，位居概念板块涨幅第9，板块内，99股上涨，科翔股份 20%涨停，中京电子、*ST华微等涨停，大族数控、中富电路、天和防务等涨幅居前，分别上涨 13.97%、11.86%、7.71%。跌幅居前的有旭光电子、*ST元成、旷达科技等，分别下跌2.27%、1.93%、 1.75%。 今日涨跌幅居前的概念板块 | 300416 | 苏试试 | 0.79 | 1.16 | 360.52 | 4.41 | | --- | --- | --- | --- | --- | --- | | | 验 | | | | | | 688757 | 胜科纳 | 1.87 | 7.10 | 348.55 | 6.48 | | | 米 | | | | | | 300567 | 精测电 | 0.16 | 1.23 | 274.14 | 1.93 | | | 子 | | | | | | 300400 | 劲拓股 | 2.30 | 1.84 | 226.73 | 3.24 | | | 份 | | | | | | 300802 | 矩子科 | 2.06 | 1.25 | 181.30 | 4.01 | ...

Group 1 - The high-pressure oxygen chamber concept declined by 2.26%, ranking among the top declines in concept sectors, with companies like Aoyang Health, International Medicine, and Weiao Co., Ltd. experiencing significant drops [1] - The main funds in the high-pressure oxygen chamber concept saw a net outflow of 363 million yuan, with seven stocks experiencing net outflows, led by Innovation Medical with a net outflow of 308 million yuan [2] - Other companies with notable net outflows include Aoyang Health, Dahu Co., Ltd., and Yinkang Life, with net outflows of 27.01 million yuan, 8.53 million yuan, and 6.79 million yuan respectively [2] Group 2 - The top gainers in concept sectors included the military equipment restructuring concept, which rose by 3.51%, and PCB concept, which increased by 3.29% [2] - The high-pressure oxygen chamber concept was among the sectors with the largest declines, alongside glyphosate and rare earth permanent magnets, which fell by 2.82% and 2.57% respectively [2] - The trading volume for the high-pressure oxygen chamber concept stocks showed varying turnover rates, with Innovation Medical at 36.76% and Aoyang Health at 17.53% [2]

Core Insights - Advanced packaging is emerging as a critical technology in the semiconductor industry, with FOPLP (Fan-Out Panel Level Packaging) gaining significant attention as a potential successor to TSMC's CoWoS (Chip on Wafer on Substrate) technology [1][4][8] Industry Overview - The advanced packaging market is projected to grow at a compound annual growth rate (CAGR) of 12.9%, increasing from $39.2 billion in 2023 to $81.1 billion by 2029 [8] - FOPLP is expected to see a remarkable CAGR of 32.5%, growing from $4.1 million in 2022 to $221 million by 2028 [11] Technology Comparison - Advanced packaging can be categorized into three main types: Flip Chip, 2.5D/3D IC packaging, and Fan-Out Packaging [2] - FOPLP offers advantages over traditional FOWLP (Fan-Out Wafer Level Packaging) by utilizing larger panel sizes, which enhances area utilization and reduces costs [6][7] Key Players and Developments - SpaceX is entering the advanced packaging space with plans to establish FOPLP production capacity in Texas, featuring the industry's largest substrate size of 700mm x 700mm [1] - TSMC is actively expanding its CoWoS capacity, with plans to increase monthly production from 35,000 wafers to 70,000 by the end of 2025, contributing over 10% to its revenue [3] - ASE (Advanced Semiconductor Engineering) is investing $200 million to set up FOPLP production lines in Kaohsiung, Taiwan, with trial production expected by the end of this year [1][14] Material Innovations - FOPLP utilizes glass substrates, which provide mechanical, physical, and optical advantages over traditional silicon materials, making it a focus for major companies like TSMC, Samsung, and Intel [7][8] Challenges and Future Outlook - Despite its potential, FOPLP has not yet achieved mass production due to yield issues and a lack of standardization in panel sizes, which complicates system design [19] - The industry is witnessing a shift towards FOPLP as a mainstream solution, with companies like ASE and TSMC making significant investments to overcome current challenges [12][14][17]

Core Viewpoint - The article discusses the importance and evolution of semiconductor packaging technology, highlighting its critical role in enhancing chip performance, reducing power consumption, and enabling efficient system integration to meet the challenges posed by Moore's Law and complex application demands [27]. Group 1: Semiconductor Packaging Process - Semiconductor packaging technology is categorized into four levels: Level 0 (wafer cutting), Level 1 (chip-level packaging), Level 2 (mounting chips onto modules or circuit boards), and Level 3 (installing circuit boards with chips and modules onto system boards) [2]. - The primary functions of semiconductor packaging include mechanical protection, electrical connection, mechanical connection, and heat dissipation [9][12]. Group 2: Development Trends in Semiconductor Packaging - Key trends in semiconductor packaging technology include the development of materials with better thermal conductivity and packaging structures that effectively dissipate heat [13]. - The demand for packaging technologies that support high-speed signal transmission is increasing, particularly for applications in AI and 5G wireless communication [14]. - The trend towards three-dimensional semiconductor stacking technology allows multiple chips to be integrated within a single package, enhancing performance and efficiency [18]. - There is a growing emphasis on miniaturization of semiconductor devices to meet the needs of mobile and wearable products [19]. - Packaging technology must also ensure reliability in extreme environments, such as tropical rainforests and outer space [19]. Group 3: Advanced Packaging Technologies - Advanced packaging aims to improve chip performance, integration, and reliability through various methods, including Fan Out, System in Package (SiP), and 2.5D/3D packaging [27][28]. - The market for advanced packaging is projected to grow significantly, with wafer production expected to increase from approximately 36 million in 2023 to about 64 million by 2029, reflecting a compound annual growth rate (CAGR) of 9% [31]. Group 4: Testing and Validation of Packaging - Two methods are used to develop and ensure the effectiveness of semiconductor packaging: utilizing existing packaging technologies for new chips and developing new packaging technologies for existing chips [33]. - The packaging design process involves simultaneous development with chip design to optimize characteristics and ensure feasibility before mass production [34][36].

Investment Rating - The report rates the chemical industry as "Outperform" [1] Core Views - The industry has been significantly impacted by tariff-related policies and fluctuations in crude oil prices. Key areas to focus on in June include safety regulation policies, supply chain changes in the pesticide and intermediate sectors, performance fluctuations due to "export rush," the importance of self-sufficiency in electronic materials, and stable dividend policies in energy companies [1][10] Summary by Sections Industry Dynamics - As of June 1, the average price tracking 100 chemical products showed that 23 products increased in price, 45 decreased, and 32 remained stable. The month-on-month average price changes were 26.73% up, 63.00% down, and 10.27% stable. The products with the highest weekly price increases included hydrochloric acid (up 31% in the Yangtze River Delta) and TDI, while those with the largest decreases included soft foam polyether and liquid chlorine [9][32] Oil and Gas Market - International oil prices have decreased, with WTI crude futures closing at $60.79 per barrel (down 1.20%) and Brent crude at $63.90 per barrel (down 1.36%). The U.S. crude oil production averaged 13.47 million barrels per day, an increase of 2.7% year-on-year. Gasoline and distillate demand in the U.S. has increased, with total refined oil demand averaging 19.89 million barrels per day, down 0.2% year-on-year [9][10] Chlorantraniliprole Industry - The chlorantraniliprole industry has experienced capacity damage, with the largest producer, Youdao Chemical, having a production capacity of 11,000 tons. The market supply has significantly reduced, and current inventory levels are low due to previous market conditions. The price for chlorantraniliprole is expected to rise to 250,000-280,000 yuan per ton in the short term [9][10] Acrylic Acid Market - The price of acrylic acid has decreased, with the average market price at 7,050 yuan per ton, down 8.44% from the previous week. Supply has increased due to the resumption of production in Shandong, while downstream demand remains cautious [9][10] Investment Recommendations - As of June 1, the SW basic chemical sector's P/E ratio (TTM excluding negative values) is 21.66, at the 58.33% historical percentile. The oil and petrochemical sector's P/E ratio is 10.81, at the 13.47% historical percentile. Key investment themes include the sustained high prices of crude oil, rapid development in downstream industries, and the potential for recovery in demand due to policy support [10][11]

先进封装成为下１个技术帝国的边疆要塞，不是偶然，而是3股力道推动出来的必然结果。 第1股力道是算力井喷，但制程进展放缓，芯片必须被切割、堆叠、重组。陆行之表示，你能做到 5奈米，不代表你能塞进20倍算力，光罩极限挡住了芯片的面积，只有Chiplet 能绕过这道墙， Ncidia Blackwell 就是这样诞生的。 第2股力道则是应用百变，芯片不再单一适配，系统设计走向模组化。陆行之说，1种芯片搞定所 有应用的时代已经结束，AI训练、自驾决策、边缘运算、AR装置……每1个应用都需要不同组合 的矽，先进封装加Chiplet，就是设计弹性与效率的平衡解答。 如果您希望可以时常见面，欢迎标星收藏哦~ 来源：内容来自 自由时报 。 半导体的改变正在加速，先进封装，不再是边角料。知名分析师陆行之表示，棋盘中央如果说先进 制程是矽时代的权力中枢，那么先进封装，正在成为下１个技术帝国的边疆要塞。 陆行之在脸书上贴文指出，10年前，这条路线曾被误解，甚至被忽视，但10年后的今天，它已悄 悄从「非主流的Plan B」变成「主流赛道的Plan A」。 第3股力道则是资料搬运成本飙升，能耗变成第１瓶颈。在AI 芯片里，搬资料的耗能 ...

Core Viewpoint - The ongoing AI boom is driving advancements in semiconductor packaging technologies, particularly Fan-out Panel Level Packaging (FOPLP), which is expected to enhance chip efficiency and market competitiveness [1][2]. Group 1: Advanced Packaging Technologies - Advanced packaging integrates different chips to improve performance, reduce space, and lower power consumption, with TSMC's CoWoS technology being a notable example [1]. - FOPLP technology utilizes square substrates for IC packaging, significantly increasing usable area compared to traditional round wafers, achieving a utilization rate of 95% [1]. - The development of mid-to-high-end semiconductor packaging using 3.5 generation FOPLP glass substrates can provide an area seven times larger than that of a 12-inch glass wafer [1]. Group 2: Industry Collaboration and Development - The Ministry of Economic Affairs, in collaboration with companies like Innolux and the Industrial Technology Research Institute, has launched initiatives to promote FOPLP technology and enhance the value of existing panel production lines [1][2]. - Despite challenges in production technology, such as panel warping and yield issues, ongoing collaboration aims to reduce defects and improve manufacturing processes [2]. Group 3: Market Position and Strategy - Innolux is not competing directly with established semiconductor manufacturers but is leveraging its existing panel production capabilities to transition into advanced packaging [2][3]. - The company plans to utilize its larger glass substrates to meet the increasing demand for IC packaging, with a focus on chip-first solutions to gain market recognition [3]. - The company is committed to continuous improvement in technology and talent development in the FOPLP sector, with expectations for tangible results and shipments this year [3]. Group 4: Future Prospects and Innovations - The company is exploring various advanced technologies, including chip last and redistribution layer (RDL) techniques, while maintaining a focus on validating these technologies rather than solely on mass production [4].