Core Insights - SCHMID Group has announced the shipment of its first InfinityLine P+ system, a new panel-level plating equipment that integrates photoresist stripping, providing a modern and efficient alternative for manufacturers in the electronics industry [1][10]. Product Features - The InfinityLine P+ is a touch-free, double-sided vertical cluster plating system that can be configured with various plating, pre-treatment, cleaning, and rinsing modules, ensuring uniform copper distribution across the panel through segmented and moveable anodes [3][9]. - The system integrates photoresist stripping directly into the plating workflow, which minimizes handling and transfer steps, resulting in a compact and low-maintenance architecture that reduces both operating and capital costs [4][11]. Competitive Advantage - The InfinityLine P+ is designed to compete effectively against existing plating equipment in dynamic manufacturing environments characterized by frequent design changes, thin seed layers, and stringent process integration requirements [5][11]. - Unique differentiators of the InfinityLine P+ include integrated stripping, segmented current distribution, and reliability on thin seed layers, making it suitable for environments where flexibility and yield are critical [11]. Customer Benefits - The features of the InfinityLine P+ lead to higher equipment uptime, reduced footprint, shorter process chains, and lower total cost of ownership, enhancing overall operational efficiency for customers [7][9]. Market Positioning - The shipment of the first unit marks the beginning of commercialization, with initial customer installations and pilot runs planned for the upcoming quarter, indicating a proactive approach to market entry [12]. - The InfinityLine P+ expands the InfinityLine family, positioning SCHMID Group as a key player in next-generation advanced packaging and high-density PCB applications, offering a competitive alternative to existing plating platforms [13].

Core Insights - SCHMID Group has expanded its product portfolio to address the increasing demand for advanced packaging substrates and high-performance server boards driven by the AI era [1][14][15] - The semiconductor and advanced packaging sector is projected to grow at a CAGR of around 10% over the next five years, with significant contributions from market leaders like TSMC and NVIDIA [2][15] - The traditional PCB industry is expected to grow at an 8% CAGR, while AI server boards are anticipated to experience a robust growth rate of about 20% [3][15] Company Developments - SCHMID has broadened its InfinityLine product family to enhance its position in next-generation package substrates and AI-server PCBs [4][12] - The company is uniquely positioned to deliver Chip-on-Wafer-on-PCB (CoWoP) solutions, focusing on best-in-class yield and low cost of ownership [5] - SCHMID anticipates that 2025 will be a transition year, with above-market growth expected from 2026 onwards, particularly in AI-driven product lines [6] Product Innovations - The existing InfinityLine H+ remains the top-selling equipment, while the new InfinityLine C+ is on track to become a significant revenue contributor [12] - Upcoming products include InfinityLine L+ for panel-level substrates and InfinityLine P+ for next-generation single panel plating, both set to launch in late 2025 [12] - SCHMID's QuantumLine and SCHMID-AVACO Plasma Equipment are designed to enable high-yield glass core substrate production [12]

Month of September Bookings in Excess of $2,500,000 Strong Bookings For the Month and Quarter Due Primarily to Previously Announced Large Orders Received by Power Group Strong Booking Month Despite Continued Delays on Orders on Legacy Programs for Orbit Instrument Division HAUPPAUGE, N.Y., Oct. 08, 2025 (GLOBE NEWSWIRE) -- Orbit International Corp. (the “Company”) (OTCID Basic Market:ORBT), an electronics manufacturer and software solution provider, today announced that consolidated bookings for the month o ...

Report Overview - The report is a fixed income daily market update by CMBI, covering trading desk comments, macro news, and analysis of various bonds and new issues [1][2] Trading Desk Comments - On Monday, trading flows were light due to holidays in mainland China, Taiwan, and Korea [2] - Asian institutions sold French names like BNP, ACAFP, and SOCGEN, as well as Japanese and Yankee AT1s and insurance hybrids [2] - In Greater China, ZHOSHK 28 tightened 2bps, and EHICAR 26 - 27s were unchanged to 1.1pts higher [2] - In properties, FAEACO 12.814 Perp rose 14.7pts after the coupon deferral notice deadline passed [2] - NWDEVL Perps were unchanged to 0.2pt higher, and NWDEVL 27 - 31s were 0.2pt lower to 0.3pt higher [2] - HYSAN 4.85 Perp was up 0.3pt, and VNKRLE 27 - 29s lowered 0.2 - 0.4pt [2] - FUTLAN 28/FTLNHD 26/LNGFOR 27 - 32s were 0.2pt lower to 0.2pt higher [2] - In Southeast Asia, GARUDA 31s rose 0.9pt, and VLLPM were down 0.2 - 1.0pt [2] - VEDLN 28 - 33s were unchanged to 0.1pt lower [2] - In LGFV space, TAIANH 6.9 07/16/28 and FZSZJJ 7 12/27/27 leaked 0.9 - 1.7pts [2] - This morning, flows remained light with mainland China still on holiday [3] - GARUDA 31s rose 3.1 - 3.9pts, and LASUDE 26 was 2.9pts higher [3] - CHGDNU 48/EHICAR 26 were 0.9 - 2.1pts lower [3] - VEDLN 28 - 33s were 0.1 - 0.3pt lower [3] - IHFLIN 27 - 28 were 0.5 - 0.6pt lower after Moody's placed Sammaan Capital's B2 rating on review for upgrade [3] Top Performers and Underperformers | Security | Price | Change | | --- | --- | --- | | FAEACO 12.814 PERP | 56.7 | 14.7 | | HCELEC 4.65 12/29/26 | 67.9 | 1.4 | | EHICAR 7 09/21/26 | 81.3 | 1.1 | | GARUDA 6 1/2 12/28/31 | 88.8 | 0.9 | | CFAMCI 5 1/2 04/27/47 | 98.0 | 0.8 | | CCAMCL 4 3/4 12/04/37 | 93.3 | -1.7 | | TAIANH 6.9 07/16/28 | 94.3 | -1.7 | | VLLPM 9 3/8 07/29/29 | 49.5 | -1.0 | | FZSZJJ 7 12/27/27 | 99.3 | -0.9 | | TENCNT 3.68 04/22/41 | 85.1 | -0.9 | [4] Macro News Recap - On Tuesday, S&P (-0.38%), Dow (-0.20%), and Nasdaq (-0.67%) were lower [6] - The release of US Aug'25 trade balance was delayed due to the federal government shutdown [6] - 2/5yr UST yield was lower, while 10/30yr UST yield was higher on Tuesday [6] - 2/5/10/30 yield was at 3.57%/3.71%/4.14%/4.73% [6] Desk Analyst Comments - Vedanta Resources (VRL) priced USD500mn VEDLN 9.125 10/15/32 with an orderbook of over USD1.6bn [7] - Net proceeds are for prepaying the 18% private credit facility due Apr'26 [7] - Over 14 months, VRL has raised USD3.6bn in USD bonds, smoothing its maturity profile and lowering funding costs [7] - Analysts prefer VEDLN 9.475 07/24/30 for a better risk - adjusted profile [7] - The new VEDLN 32s trade in line with VEDLN 31s at 9.0% YTW [7] - VEDLN 9.475 07/24/30 trades at 102.2 with 8.8% YTW, offering 46bps pickup over NICAU 9 09/30/30 [7] VRL's Outstanding USD Bonds | Security name | ISIN | Amt o/s (USD mn) | Ask px | YTW | Issue rating (M/S/F) | | --- | --- | --- | --- | --- | --- | | VEDLN 10.25 06/03/28 | USG9T27HAH76 | 300 | 103.7 | 7.8% | -/B/B+ | | VEDLN 10.875 09/17/29 | USG9T27HAG93 | 1,200 | 105.4 | 8.7% | -/B/- | | VEDLN 9.475 07/24/30 | USG9T27HAL88 | 550 | 102.2 | 8.8% | B2/B/- | | VEDLN 11.25 12/03/31 | USG9T27HAJ33 | 500 | 107.7 | 9.0% | -/B/B+ | | VEDLN 9.125 10/15/32 | USG9T27HAN45 | 500 | 100.3 | 9.0% | B2/-/B+ | | VEDLN 9.85 04/24/33 | USG9T27HAK06 | 550 | 102.5 | 9.1% | B2/B/- | [8] Offshore Asia New Issues Priced - Muthoot Finance (tap) issued 150mn USD, 5 - year bonds with a coupon of 101.75 and an issue rating of Ba1/BB+/- [11] Pipeline - There are no offshore Asia new issues in the pipeline today [12] News and Market Color - Onshore primary issuances are suspended during the National Day Holiday [19] - Macau logged over 1mn visitors in the first 7 days of Oct'25 Golden Week [19] - Adani Green inked a USD250mn loan from four global banks for refinancing [19] - Garuda Indonesia asked for a USD600 - 800mn injection from Danantara to maintain 51 aircraft [19] - GLP received interest from Middle East institutions for a strategic investment of about USD1bn [19] - LG Electronics India's USD1.3bn IPO sold out on the first day [19] - Canara Robeco AMC, ORIX's Indian JV, plans an IPO of INR13.3bn (about USD149.4mn) [19] - Sinopec is adding at least 169mn barrels of oil reserves [19] - San Miguel was fined for a'misstatement' in its 1H25 earnings report [19]

Core Insights - Sony Group Corporation has partnered with Smart Eye AB to integrate advanced sensing and biometric authentication software with Sony's IMX775 RGB-IR image sensor, aiming to enhance automotive safety and personalized in-vehicle experiences [1][10]. Integration and Technology - The collaboration combines Sony's hardware with Smart Eye's AI-driven software to provide real-time insights into driver and passenger behavior, helping automakers meet global safety standards while offering new personalization features [2]. - The IMX775 sensor boasts a 5-megapixel resolution, 2.1 μm pixel size, and the capability to capture both RGB and infrared data simultaneously, ensuring clear imaging across various lighting conditions [3]. - The sensor's features improve driver monitoring functions, such as detecting distraction and drowsiness, and tracking occupant posture and seatbelt usage, aligning with upcoming regulations like the EU's General Safety Regulation and Euro NCAP's 2026 standards [3]. Cybersecurity and Trust - Sony's IMX775 sensor includes integrated cybersecurity functions for hardware-level authentication, creating a secure data exchange environment when combined with Smart Eye's recognition software [4]. - This partnership aims to enhance safety, comfort, and digital trust in next-generation vehicles by merging advanced sensing technology with intelligent monitoring and authentication solutions [4]. Business Expansion and Challenges - Sony has been actively expanding its business through acquisitions and partnerships, including collaborations with Bandai Namco and KADOKAWA to enhance its media presence and IP value [5][6]. - The company faces challenges from foreign exchange fluctuations, particularly with the yen, U.S. dollar, and euro, which may impact its consolidated results due to varying regional operations [7]. - Management anticipates a stronger tariff burden affecting its fiscal outlook, with a projected operating income of ¥1,330 billion, down from ¥1,400 billion without tariff impacts [8].

Core Viewpoint - Qualcomm announced the acquisition of Italian electronics manufacturer Arduino, which will become a separate subsidiary, aiming to deepen its presence in the robotics market [1] Group 1: Acquisition Details - The first product resulting from the collaboration will be the Arduino UNO Q [1] - Arduino is known for its affordable programmable circuit boards and computers, commonly used in hardware startups and robotics labs for prototyping [1] Group 2: User Base - Arduino boasts over 33 million active users [1]

Qualcomm on Tuesday said it has acquired Arduino, an Italian not-for-profit firm that makes hardware and software for developing prototypes of robots and other electronic gadgets. ...

Core Insights - Qualcomm is acquiring Arduino to strengthen its position in the robotics industry and gain access to a broader range of developers and startups [1][2][3] - The acquisition allows Qualcomm to tap into the prototyping and testing phase of robotics development, which is crucial for future commercial product launches [2][4] - The move is part of Qualcomm's strategy to diversify its revenue streams away from mobile chips, especially as the smartphone market faces challenges [4] Group 1: Acquisition Details - Qualcomm did not disclose the financial terms of the acquisition, but Arduino will operate as an independent subsidiary [2] - Arduino's products are primarily used for prototyping and cannot be used for commercial products, making them popular among hobbyists and startups [2] Group 2: Strategic Goals - Qualcomm aims to build loyalty and legitimacy among startups and builders in the robotics sector, as the demand for powerful chips for AI applications grows [3] - The company is looking to leverage its IoT and automotive business, which together accounted for 30% of overall revenue from chip sales in the most recent quarter [5]

Group 1 - The year 2025 marks the end of the "14th Five-Year Plan," with significant achievements in digitalization, networking, and intelligence in China [1] - By June 2025, the total number of 5G base stations has increased fivefold compared to 2020, reaching 4.55 million, while gigabit broadband users have grown 34 times to 226 million [1] - China's computing power ranks second globally, significantly contributing to economic and social development [1] Group 2 - The domestic operating system is rapidly rising, with the HarmonyOS ecosystem surpassing 1.19 billion devices, integrating "smart cores" into over 1,200 product categories including smartphones, cars, and home appliances [4] - China's overall strength in artificial intelligence has seen a systemic leap, with AI patents accounting for 60% of the global total, and continuous breakthroughs in humanoid robots and smart terminals [4] Group 3 - By the end of 2024, software revenue in China is expected to grow by 80% compared to 2020, while the added value of large-scale electronic information manufacturing has increased by over 70% [6] - The acceleration of intelligent transformation and digitalization has led to the establishment of over 10,000 smart factories, covering more than 80% of major manufacturing sectors [6] - Smart home and wearable technology have emerged as new consumer trends [6] Group 4 - Increasingly, more services are being digitized, allowing for "data to run more, and the public to run less," breaking down traditional barriers in public services [8] - Digitalization has enhanced efficiency and convenience in online services by eliminating "process barriers" and "data barriers" [8]

Core Insights - Winbond Electronics Corporation has implemented Clarivate's IPfolio, a cloud-based intellectual property management platform, to modernize its IP management and enhance digital transformation [1][4]. Group 1: Implementation and Results - The implementation of IPfolio has led to a 90% improvement in data accuracy by integrating with Clarivate IP data, eliminating manual data entry errors [2]. - Real-time patent data updates have increased, and internal operational efficiency has improved by 25% [2]. - Management resources have been freed up by an estimated 15% due to automated data verification and other features [3]. Group 2: Company Background and Strategic Importance - Winbond is recognized as a Top 100 Global Innovator by Clarivate for three consecutive years, highlighting its commitment to innovation [4]. - The choice of IPfolio reflects Winbond's need for robust capabilities, advanced automation, and secure collaboration features [4]. - Winbond provides integrated circuit solutions globally, serving various markets including consumer electronics and automotive [4].