Wg Tech (Jiang Xi) Co.Ltd(603773) : sign a contract with Zhongqi optoelectronics strategy to supply glass substrate products of no less than 800 million yuan to it within 5 years

Recently, Wg Tech (Jiang Xi) Co.Ltd(603773) ( Wg Tech (Jiang Xi) Co.Ltd(603773) ) held a strategic cooperation signing ceremony with Dongguan Zhongqi Photoelectric Technology Co., Ltd. (hereinafter referred to as “Zhongqi photoelectric”). According to the agreement, Zhongqi optoelectronics will purchase no less than 800 million yuan of glass substrate products from Wg Tech (Jiang Xi) Co.Ltd(603773) in the next five years, and give priority to the use of Wg Tech (Jiang Xi) Co.Ltd(603773) of packaged glass substrates or other related products in the subsequent marketing of semiconductor chip packaging substrates and mini / micro display.

In addition to product procurement, this cooperation also stipulates that the two sides will cooperate in the field of semiconductor chip packaging substrate and mini / micro display, including but not limited to joint development, standard formulation, patent use right and mutual benefit, and jointly promote the development of R & D projects according to their respective advantages. At the same time, both parties will jointly design and develop key components (such as discrete device substrates) to reduce material costs. The two sides will give full play to their respective advantages, build a long-term mechanism of win-win cooperation, coordination and innovation among enterprises, give full play to synergy, promote the application of new materials and technologies in the field of semiconductor chip packaging substrates and mini / micro displays, jointly strive to improve the visual effect and safety performance of photoelectric display products, and provide solutions such as energy conservation, consumption reduction, cost reduction and efficiency enhancement.

Industry insiders said that in recent years, apple, Xiaomi, TCL, Hisense, ASUS, qunchuang, Youda, BOE and other enterprises have launched TV, display, VR and vehicle display and other terminal products with miniled backlight or similar technologies. With the maturity of the industrial chain and the decline of costs, miniled display is expected to achieve rapid market penetration. According to ledinside’s prediction, with the increasing demand for “full screen and HD” display in entertainment, retail, teleconference, education, medical treatment, security and other markets, the global miniled market will grow rapidly from RMB 14.9 billion in 2022 to RMB 96.5 billion in 2026.

For this cooperation, Wg Tech (Jiang Xi) Co.Ltd(603773) chairman Yi Weihua said that over the past three years, Wg Tech (Jiang Xi) Co.Ltd(603773) has invested a lot of research and development efforts in the thick copper of glass substrate, through-hole metallization and ultra-thin glass, and achieved good results. With the introduction of glass substrate backlight products to the market one after another, the company has also preliminarily obtained industry recognition in small spacing direct display products and IC ultra-thin packaging carrier sectors. Among them, many products in the direct display field are under joint development with customers, and it is expected to achieve small batch supply in the second half of this year; In the field of semiconductor packaging, the company has also successfully proofed and passed the technical verification of customers. In the future, focusing on various applications of glass substrates, the company will actively develop and promote the application of glass substrates in photoelectric display, precision components and semiconductors.

Sun Ming, general manager of Zhongqi optoelectronics, said that as an enterprise with the whole industrial chain from LED epitaxial chips to display modules, Zhongqi optoelectronics has achieved preliminary industrialization scale in mini / micro LED point, line and area light sources, and has achieved high recognition in the industry and market share in the market segments. The strategic cooperation between Zhongqi and Wg Tech (Jiang Xi) Co.Ltd(603773) is based on the highly consistent development concept of both sides. Both sides are very optimistic about the industrial substitution of the substrate and carrier represented by Vogel glass substrate for the traditional PCB / BT, and will give full play to their complementary advantages in the field of core materials and application technology in the future, Establish long-term strategic cooperation on the application of glass substrate in mini / micro led and IC / third generation semiconductor discrete devices / integrated packaging / advanced packaging.

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