Core Viewpoint - The supply of low CTE glass fiber cloth is currently facing shortages, significantly impacting the inventory of Apple's iPhone 17 series [2][3] Group 1: Supply Chain Impact - The shortage of low CTE glass fiber cloth is causing severe pressure on the production of the iPhone 17 series, with Apple CEO Tim Cook reportedly urging suppliers daily [2] - Low CTE glass fiber cloth is essential for various core components, including SoC chips, RF packaging substrates, camera modules, and battery management systems [2][3] Group 2: Technical Importance - Low CTE glass fiber cloth is crucial for high-precision and high-heat dissipation electronic components in smartphones, helping to reduce mechanical stress caused by temperature changes [2][3] - The material is used in the packaging substrates of Apple A-series chips and Qualcomm Snapdragon processors, ensuring stable connections between chips and PCBs [3] Group 3: Market Position of Companies - Honghe Technology (603256) is identified as a key player in the production of low CTE glass fiber cloth, having achieved product certification and mass production [3][4] - Honghe Technology focuses on high-end electronic-grade glass fiber cloth and is one of the only two companies globally capable of mass-producing 0.03mm ultra-thin cloth [4] - The company has established long-term partnerships with leading copper-clad laminate manufacturers, which supply PCB substrates directly to Apple [5]