Market Overview - The main board led the gains with notable increases in stocks such as Rongji Software (+10.04%), Xuguang Electronics (+10.02%), and Guanshi Technology (+10.01%) [1] - The ChiNext board saw significant growth with Yingjian Technology (+20.01%) and Jiangfeng Electronics (+14.54%) leading the charge [1] - The Sci-Tech Innovation board also performed well, with Luwei Optoelectronics and Huahong Semiconductor both increasing by 20% [1] - Active sub-industries included SW Semiconductor Materials (+6.24%) and SW Electronic Chemicals III (+3.32%) [1] Domestic News - In the semiconductor industry, China's export of electromechanical products reached 12.07 trillion yuan, a 9.6% increase, accounting for 60.5% of total exports [1] - The MCA Mobile Alliance, represented by Wentai Technology, issued a statement opposing the politicization of business issues and criticized the Dutch government's actions against Nexperia [1] - The Anhui Quantum Information Engineering Technology Research Center announced the successful mass production of the world's first four-channel ultra-low noise single-photon detector, which will enhance various applications [1] - Taiwan's economic department stated that the expanded ban on rare earth elements from mainland China is not expected to significantly impact chip manufacturing but may affect the global supply chain for electric vehicles and drones [1] Company Announcements - Liyi Intelligent Manufacturing forecasted a net profit of 960 million to 1.2 billion yuan for Q3 2025, representing a year-on-year growth of 32.35% to 65.44% [2] - Yabo Xuan reported total revenue of 419 million yuan for Q1-Q3 2025, a 55.9% increase, with a net profit of 49 million yuan, up 36.59% [2] - Feirongda projected a net profit of 275 million to 300 million yuan for the first three quarters of 2025, reflecting a growth of 110.80% to 129.96% [2] - Juxin Technology estimated a revenue of 721 million yuan for Q1-Q3 2025, a 54.50% increase, with a net profit of 151 million yuan, up 112.94% [2] International News - LaserApps developed a technology to create through-glass vias (TGV) on 1.1mm thick glass, crucial for signal transmission to semiconductor glass substrates [2] - Amid U.S.-China trade tensions, Japanese electronic component manufacturers are restructuring global production, with Tamura Electric planning to reduce its Chinese bases by 30% by March 2028 [2] - Indian eyewear company Lenskart announced the integration of a unified payment interface (UPI) in its upcoming B Camera smart glasses, allowing secure payment through voice commands [2] - Counterpoint reported that by 2025, smartphones with GenAI capabilities will account for 35% of global shipments, with Apple leading at 46% market share [2]

Core Viewpoint - The article discusses the growth and challenges of Through Glass Via (TGV) technology in the glass substrate market, highlighting its applications in various industries and the expected market growth rates over the coming years [3][4]. Group 1: TGV Technology Overview - TGV is a crucial component of glass core substrates, enhancing device compactness and performance by improving interconnection density and signal integrity [2]. - The integration of TGV can simplify manufacturing processes by eliminating the need for separate interconnection layers [2]. Group 2: Market Growth and Projections - The demand for TGV substrates is driven by the increasing need for microelectronic devices, with an estimated 50% of new IoT devices expected to incorporate TGV technology [3]. - The market value for glass VIA (TGV) substrates is projected to reach $129.74 million in 2024, $174.11 million in 2025, and expand to $1.83166 billion by 2033, with a compound annual growth rate (CAGR) of 34.2% from 2025 to 2033 [3]. Group 3: Industry Applications - In the consumer electronics sector, approximately 45% of products utilize TGV technology for compact and efficient designs [4]. - The automotive industry has seen a 30% increase in TGV substrate utilization due to the integration of advanced driver-assistance systems [4]. - The medical field has also experienced a 25% increase in TGV applications [4]. Group 4: Challenges Facing TGV Technology - The inherent brittleness of glass materials poses a risk of breakage during processing, affecting production yield [5]. - High precision is required for creating fine through-hole structures, necessitating advanced laser drilling or chemical etching techniques [5]. - The need for conductive materials to fill the non-conductive glass vias presents challenges in ensuring uniformity and contact quality [5]. - Differences in thermal expansion coefficients between glass and silicon components can lead to structural stress and potential failure [5]. - TGV structures must withstand various environmental conditions, requiring high mechanical strength and stable electrical performance [5]. - The complexity of processing and the need for specialized equipment contribute to high initial investment and production costs, limiting widespread adoption [5]. Group 5: Recent Developments in TGV Industry - Recent collaborations and innovations include the establishment of an integrated circuit substrate innovation center by Chipai Technology and Nanjing University [6]. - SKC's subsidiary Absolics is ramping up glass substrate production, aiming for commercial viability by the end of 2025 [6]. - Corning has developed a new glass specifically for semiconductor substrates, improving thermal expansion and elasticity [6]. - JNTC has unveiled a new TGV glass substrate with a 90% yield rate, utilizing advanced processing techniques [7]. - Various companies, including BOE and Samsung, are investing in TGV technology and establishing production lines to enhance their capabilities in the semiconductor glass substrate market [8].