Core Viewpoint - The advanced packaging industry is experiencing high expectations for the future development potential of Fan-out wafer-level packaging (FOWLP) and Fan-out panel-level packaging (FOPLP) technologies, driven by large-scale orders from TSMC's InFO series and CoWoS-R products [2] Group 1: Market Trends and Projections - The global demand for high-end Fan-out (FO) products is limited, with high-value orders primarily secured by leading international companies [2] - By 2025, the domestic Fan-out packaging market in China is projected to exceed $100 million, with a year-on-year growth of 29%, and FOWLP expected to account for 73% of this market [4] - The demand for wafer-level Fan-out packaging is currently less than 10,000 pieces per month (equivalent to 300mm), which is a strategic focus for most packaging manufacturers [4] Group 2: Competitive Landscape - Domestic advanced packaging companies in China possess strong technical competitiveness, but the demand for high-value FO orders remains limited, leading to a rapid increase in the number of players in the market [2] - Longji Technology is expected to hold a dominant market share in the FOWLP sector in mainland China, ranking fourth globally [4] Group 3: Future Development and Strategies - The industry needs to explore larger-scale and broader application areas for FO wafer products, such as discrete devices, power chips/modules, and audio/RF/radar modules, which have lower requirements for wafer reconstruction packaging [2] - The FOPLP technology is anticipated to become the preferred solution in low-value application scenarios as its maturity and production line utilization improve [4] - The FOWLP technology is expected to maintain a high growth rate of over 30% penetration in the next five years, as domestic manufacturers expand their product applications and accumulate process cases [4]