Group 1 - The core viewpoint of the news highlights the advancements in the glass substrate sector, particularly by Hon Hai Group's subsidiary, Zhengda, which has achieved breakthroughs in CoWoS advanced packaging glass substrates and is expected to begin product deliveries in the coming years [1][2] - The SW electronic industry index increased by 2.78% during the week of September 29 to October 3, 2025, outperforming the CSI 300 index, which rose by 1.99% [2] - The top three sectors within the electronic industry index were integrated circuit manufacturing (+6.93%), integrated circuit packaging and testing (+4.50%), and digital chip design (+4.14%) [2] Group 2 - The global glass substrate market is projected to grow from $7.01 billion in 2024 to $12.33 billion by 2032, with a compound annual growth rate (CAGR) of 7.3% [4] - In China, the glass substrate market is expected to increase from 25.2 billion yuan to 36.1 billion yuan from 2020 to 2024, with a CAGR of 9.4% [4] - The market is highly concentrated, with the top three companies (Corning, Asahi Glass, and Nippon Electric Glass) holding a combined market share of 88% in 2023 [4] Group 3 - The demand for glass substrates is expected to rise due to increasing energy costs and production cuts by international giants like Corning and AGC, which will limit supply [5] - Woge Optoelectronics, a key Chinese glass substrate manufacturer, has seen its revenue grow from 604 million yuan in 2020 to 2.221 billion yuan in 2024, achieving a CAGR of 38.48% [5] - The company maintains a stable gross margin of around 20% from 2020 to the first half of 2025, driven by its focus on R&D and market-oriented business expansion [5]