Greenda(SH:603931)2024-11-22 09:19Company Overview - Hangzhou Glinda Electronic Materials Co., Ltd. was established in 2001, specializing in the R&D, production, and sales of ultra-pure wet electronic chemicals [2] - The company's main products include developer solutions, etching solutions, dilution solutions, and cleaning solutions, primarily used in display panels, semiconductors, and solar cells [2] - The core product, electronic-grade tetramethylammonium hydroxide (TMAH developer), has successfully broken foreign technology monopolies and filled domestic gaps, achieving import substitution and exports to South Korea, Japan, and Taiwan [2] Market Position and Development - The company has established stable supply relationships with major clients such as BOE Technology Group, LG Display, and Tianma Microelectronics [2][3] - The TMAH developer has met SEMI G5 standard requirements, and the company is actively developing complementary products with good results [3] - The company is positioned as a leading manufacturer of wet electronic chemicals in China, with a focus on continuous innovation and improvement of product quality and service capabilities [3][4] Project Progress and Challenges - The company is involved in several national and provincial projects, including the "Developer for Photoresist" project, which has passed acceptance tests and provides technical reserves for 28nm and below integrated circuits [3] - The company faces challenges such as high investment costs and lengthy certification processes in the wet electronic chemicals industry, which may hinder competitiveness compared to foreign products [4] Market Demand and Future Outlook - According to the China Electronic Materials Industry Association, the total demand for wet chemicals in integrated circuits, new displays, and photovoltaic solar cells reached 263,300 tons in 2022, a year-on-year increase of 21.83% [6] - The domestic wet chemical market demand is expected to grow to 460,450 tons by 2025, with integrated circuits accounting for approximately 102,650 tons and new displays for about 114,900 tons [6] - The panel industry is gradually recovering, driven by the increasing market share and scale of the mainland panel industry, which is expected to support the continuous healthy development of the supply chain [5][6]