"宁波膜智信息科技有限公司"为势银（TrendBank）唯一工商注册实体及收款账户 重要会议： 11 月 17-19 日，2025势银异质异构集成年会（浙江·宁波） 点此报名 11月19日-21日，2025势银显示技术与供应链产业年会（四川·成都） 点此报名 添加文末微信，加 异质异构集成产业 群 近 日，英特尔公布了代号 Panther Lake的新一代客户端处理器英特尔® 酷睿™ Ultra（第三代）的架构细节，该产品预计 在今年内可实现大规 模量产，首款 SKU预计在年底前出货，并于2026年1月实现规模化的市场供应。 据了解， 英特尔 ® 酷睿™ Ultra 处理器（第三代）是首款基于Intel 18A制程工艺打造的客户端系统级芯片（SoC），将为广泛的消费级与商用 AI PC、游戏设备以及边缘计算解决方案提供算力支持。 同时， 英特尔还 公布 了英特尔 ® 至强® 6+（代号 Clearwater Forest），这是 英特尔 首款基于 Intel 18A的服务器处理器，预计将于2026 年上半年推出。Panther Lake和Clearwater Forest，以及基于Intel 18A制程的多代 ...

点击 最 下方 "在看"和" "并分享，"关注"材料汇 添加 小编微信 ，遇见 志同道合 的你 正文 芯片基板是承载芯片裸片的核心介质，也是芯片封装流程的最后环节，其中玻璃基板被视为下一代芯片基板的核心方向。 中国作为全球玻璃基板重要市场，市场规模整体呈现上升趋势。 中研网数据显示，中国玻璃基板市场规模从2020 年的252 亿元增长至2024 年的 361 亿元，复合增长率达9.4%。 玻璃基板行业集中度较高，全球市场的核心厂商以美国康宁、日本旭硝子及日本电气硝子为主，头部三家企业（CR3）的市场占有率合计达 88%。 据中商产业研究院数据，2023年全球玻璃基板市场份额分布如下：康宁（48%）、旭硝子（23%）、电气硝子（17%）、东旭光电 （8%）。 随着AI 算力芯片向大尺寸、高集成度方向快速演进，传统封装基板的性能已逐渐逼近物理极限，难以满足新的技术需求。 作为一种薄玻璃片，玻 璃基板相较于传统有机基板优势明显。玻璃基板不仅具备更低的信号损耗、更高的尺寸稳定性与超低平坦度，而且拥有高密度通孔能力与更精细 的线宽线距控制水平，同时还能承受更高温度。 玻璃基板凭借这些优势，已成为台积电、英特尔等行业巨头 ...

证券研究报告 行业研究 / 行业点评 2025 年 10 月 09 日 电子 强于大市 投资要点： 一年内行业指数与沪深 300 指数对比走势： 集成电路制造领涨电子行业。本周（2025/9/29-10/03）SW 电子行业指数（+2.78%），涨 跌幅排名 6/31 位，沪深 300 指数（+1.99%）。SW 一级行业指数涨跌幅前五分别为：有色 金属（+7.13%），电力设备（+4.84%），钢铁（+3.56%），房地产（+3.01%），国防军 工（+2.94%），涨跌幅后五分别为:银行（-1.20%），煤炭（-0.84%），通信（-0.62%）， 石油石化（-0.38%），社会服务（-0.19%）。本周 SW 电子三级行业指数涨跌幅前三分别 是：集成电路制造（+6.93%），集成电路封测（+4.50%），数字芯片设计（+4.14%）； 涨跌幅后三分别是：品牌消费电子（-0.99%），面板（+0.06%），半导体材料（+0.80%）。 2025 年 9 月 23 日，据《经济日报》报道，鸿海集团旗下的玻璃工厂正达在 CoWoS 先进封 装玻璃基板领域成功攻坚，取得技术突破，预计将在明后年陆续开启该产品的交 ...

投资者提问： 公司天天说自己有先进封装技术，到底怎么先进？英伟达最强AI芯片公司可以封装吗？ 免责声明：本信息由新浪财经从公开信息中摘录，不构成任何投资建议；新浪财经不保证数据的准确 性，内容仅供参考。 董秘回答(通富微电SZ002156)： 尊敬的投资者，您好！公司紧跟行业技术发展趋势，抓住市场发展机遇，面向未来高附加值产品以及市 场热点方向，立足长远，大力开发扇出型、圆片级、倒装焊等封装技术并扩充其产能；此外，积极布局 Chiplet、2D+等顶尖封装技术，形成了差异化竞争优势。截至目前，公司暂无与英伟达的相关业务合 作。谢谢！查看更多董秘问答>> ...

"宁波膜智信息科技有限公司"为势银（TrendBank）唯一工商注册实体及收款账户 重要会议： 11 月 17-19 日，2025势银异质异构集成年会（浙江·宁波） 点此报名 11月19日-21日，2025势银显示技术与供应链产业年会（四川·成都） 点此报名 添加文末微信，加 异质异构集成产业 群 参考文献： M. Niels et al ., "High-Speed Lithium Tantalate-Based Silicon Photonic Modulators," 2025 Conference on Lasers and Electro-Optics Europe & European Quantum Electronics Conference (CLEO/Europe-EQEC) , Munich, Germany, 2025, pp. 1-1, doi: 10.1109/CLEO/Europe- EQEC65582.2025.11111408. 值得一提的是，为抢抓新一代芯片发展的战略机遇， 势银（ TrendBank）将联合甬江实验室 ，以 " 聚焦异质异构技术前沿，共赴先进封装芯 征程 ...

9月25日晚间，据媒体报道，英特尔正与苹果就战略投资及深化合作展开早期谈判，双方聚焦半导体领域协同发展，先进封 装技术被视为潜在合作重点。目前协议尚未敲定，合作仍存在不确定性。 9月24日晚间收盘，英特尔股价大涨6.41%，报31.22美元/股，总市值达1458亿美元。这延续了其自8月中旬以来的反弹势 头，累计涨幅已超40%，今年以来涨幅约54%。 此前英特尔已斩获三轮重要投资，合计159亿美元。美国联邦政府以89亿美元认购9.9%股份并获认股权证，软银与英伟达分 别注资20亿、50亿美元。其中，英伟达将与英特尔联合开发数据中心及PC芯片。 此举是新任CEO陈立武复兴战略的关键一环。英特尔2025年Q2净亏损扩大至29.2亿美元，代工业务亏损12.5亿美元，且服 务器CPU市场遭AMD挤压。引入投资方既能缓解资金压力，也为其"14A"尖端技术落地积累客户支持。 ...

Group 1: Copper Industry - The China Nonferrous Metals Industry Association emphasizes the need to control the expansion of copper smelting capacity and is researching specific measures for standardized management [1] - Tianfeng Securities believes that the key to "anti-involution" in the copper smelting industry lies in optimizing capacity, which includes eliminating outdated capacity and enhancing efficiency through advanced smelting technologies [1] - The expectation is that the copper smelting industry will return to profitability in the long term, with improved capacity layout through supply-side reform [1] Group 2: Digital Currency - The Digital Renminbi International Operation Center has officially started operations in Shanghai, launching three major platforms: cross-border digital payment, blockchain service, and digital asset platforms [2] - Research institutions highlight that the Digital Renminbi, as a legal digital currency, utilizes advanced technologies to ensure security and stability, enhancing transaction transparency and user privacy [2] - The future development potential of Digital Renminbi is significant, presenting opportunities for technology and service companies within the industry [2] Group 3: Advanced Packaging - Intel showcased its next-generation Xeon processors at the 2025 Cloud Summit, utilizing new process technology and advanced packaging techniques to enhance performance and efficiency [3] - The advanced packaging market is expected to grow rapidly, driven by AI market demand, with a projected market size increase from $44.3 billion in 2022 to $78.6 billion by 2028, reflecting a compound annual growth rate of 10% [3] - FC packaging currently holds the largest market share at 51% in 2022, but it is expected to decrease to 47% by 2028, while 2.5D/3D packaging will see an increase from 21% to 33% [3] Group 4: AI Video Generation - Baidu has upgraded its Steam Engine model to support the generation of unlimited-length AI videos, breaking previous limitations of short video generation [4] - The new pricing strategy significantly reduces the cost of video generation, enhancing the competitiveness of Baidu's Steam Engine in the market [4] - The introduction of long video generation capabilities is expected to broaden the application scenarios for AI video generation tools, including film-level effects and digital content creation [4] Group 5: Brain-Machine Interface Technology - Qiangnao Technology has unveiled a groundbreaking wireless bionic hand that allows users to control it with their thoughts, addressing various self-care challenges for disabled individuals [5] - The product represents a shift from traditional prosthetics to a non-invasive brain-machine interface technology, enabling high-level paraplegics to perform tasks without external devices [5] - Qiangnao Technology focuses on enhancing human capabilities through non-invasive brain-machine interface technology, with plans to develop smart bionic legs in the future [5]

Core Viewpoint - The article discusses the advancements and market potential of glass substrates in semiconductor packaging, highlighting their advantages over traditional materials and the expected growth in the market size from $213 million in 2024 to over $400 million by 2030 [3]. Group 1: Market Overview - The global semiconductor packaging glass substrate market is projected to reach approximately $213 million in 2024, with expectations to exceed $400 million by 2030, indicating a penetration rate of over 2% [3]. - Transitioning substrate sizes from 200mm to 300mm can save about 25% in costs, while moving from 300mm to board-level can achieve over 60% cost reduction [2]. Group 2: Advantages of Glass Substrates - Glass substrates offer superior surface flatness and low roughness, making them suitable for high-precision lithography and micro-line processing [3]. - They exhibit low warpage and high resistance to deformation due to adjustable thermal expansion coefficients, which can be aligned closely with silicon chips [3]. - The electrical performance of glass substrates is enhanced, reducing signal loss during transmission, which is crucial for high-speed applications [3]. - Glass substrates have better thermal conductivity compared to organic substrates, improving heat management in electronic systems [3]. - They possess excellent chemical stability, resisting moisture and environmental corrosion [3]. Group 3: Industry Developments - Several companies are actively developing glass substrate technologies, including Beijing BOE Sensor Technology, Jiangxi Woge Optoelectronics, and Wuhan Xinchengyuan Semiconductor, each focusing on different aspects of glass substrate applications [4][5][6]. - Shenzhen Deep Light Valley Technology has successfully established a production line for glass-based 3D optical waveguide chips, indicating advancements in the field [6]. - The industry is witnessing a trend towards integrating glass substrates in high-end semiconductor packaging, with companies like Xiamen Yuntian Semiconductor and Chongqing Glass Core Semiconductor planning significant production expansions [5][6]. Group 4: Upcoming Events - TrendBank plans to host the 2025 Heterogeneous Integration Annual Conference from November 17-19, 2025, in Ningbo, focusing on advanced packaging technologies and fostering collaboration between industry and academia [7].

Market Performance - As of September 22, 2025, the Shanghai Composite Index rose by 0.22% to close at 3828.58 points, the Shenzhen Component Index increased by 0.67% to 13157.97 points, and the ChiNext Index gained 0.55% to 3107.89 points [1] - The overnight performance of U.S. markets showed the Dow Jones Industrial Average up by 0.14%, the Nasdaq Composite up by 0.70%, and the S&P 500 up by 0.44% [1] - The Philadelphia Semiconductor Index increased by 1.57%, with notable gains in semiconductor stocks such as NXP Semiconductors up by 2.08%, Micron Technology up by 1.16%, ARM up by 1.10%, Applied Materials up by 5.48%, and Microchip Technology up by 0.38% [1] Industry News - NVIDIA and OpenAI announced a partnership involving a significant data center project and an investment of up to $100 billion from NVIDIA. OpenAI will utilize NVIDIA systems to build and deploy at least 10 gigawatts of AI data centers, equivalent to the electricity consumption of 8 million U.S. households [2] - NVIDIA's CEO stated that 10 gigawatts corresponds to 4 to 5 million GPUs, which is about double the company's total shipments for the previous year [2] - Samsung has raised prices for its DRAM and NAND flash products due to supply constraints, with some DRAM products seeing price increases of up to 30% and NAND flash products increasing by 5% to 10% [2] - A report indicated that OpenAI has signed agreements with companies like Luxshare Precision to develop consumer-grade devices, although Luxshare has not confirmed this [3] - DeepSeek announced an update to its model, improving language consistency and optimizing the performance of its Code Agent and Search Agent [3] - The domestic semiconductor packaging and testing industry is facing a critical breakthrough window, with opportunities arising from the improvement of local manufacturers' production capacity and yield rates [3] Related ETFs - The Sci-Tech Semiconductor ETF (588170) tracks the Sci-Tech Board Semiconductor Materials and Equipment Index, focusing on semiconductor equipment (59%) and materials (25%) [4] - The semiconductor materials ETF (562590) also emphasizes semiconductor equipment (59%) and materials (24%), benefiting from the expansion of semiconductor demand driven by the AI revolution and technological advancements [4]

Core Viewpoint - The company reported strong revenue growth in the first half of 2025, driven by advancements in the semiconductor equipment market and competitive advantages in its products [1][2]. Financial Performance - In H1 2025, the company achieved revenue of 1.95 billion yuan, a year-on-year increase of 30.28% - The net profit attributable to shareholders was 505 million yuan, up 16.82% year-on-year - The non-recurring net profit reached 460 million yuan, reflecting a year-on-year growth of 25.02% - In Q2 2025, revenue was 1.037 billion yuan, showing a year-on-year increase of 27.05% and a quarter-on-quarter increase of 13.65% [1][2]. Profitability Analysis - The gross margin for H1 2025 was 46.08%, a decrease of 0.21 percentage points year-on-year - The net profit margin was 25.92%, down 2.99 percentage points year-on-year - The decline in profitability was attributed to higher employee compensation and acquisition-related expenses, which outpaced revenue growth [2]. Product Development and Market Position - The company has seen a significant increase in new CMP orders, particularly in advanced packaging - The Universal-H300 CMP machine has received bulk orders and is being shipped at scale - The company has a strong market share in 12/8-inch CMP equipment among leading domestic clients [3]. - The Versatile-GP300 wafer thinning machine has seen a substantial increase in orders, and the Versatile-GM300 has achieved bulk shipments [3]. Capacity Expansion and Strategic Initiatives - The company has officially launched its Beijing facility, gradually releasing capacity for core equipment - The expansion project in Kunshan aims to increase wafer regeneration capacity to 400,000 pieces per month, with an initial phase of 200,000 pieces per month [4]. - The company is enhancing its product line and expanding its market reach through strategic capacity planning [4]. Future Outlook - The company maintains a "buy" rating, anticipating continued benefits from the expansion of advanced packaging in the semiconductor industry - Projected net profits for 2025, 2026, and 2027 are 1.347 billion yuan, 1.724 billion yuan, and 2.120 billion yuan, respectively, with corresponding EPS of 3.81 yuan, 4.88 yuan, and 6.00 yuan [4].