[TF New Materials π More Support] Tiantong Co., Ltd. Company Exchange Meeting Minutes - 20260729

English summary

1. Basic Company Information - Business Positioning: The company's main business covers material segments such as substrate wafers and bonded wafers, while also laying out traditional businesses such as soft magnetic materials and sapphire. - Core Strategy: With thin-film lithium niobate materials as the core, extend to bonded wafers downstream, and explore co-building a modulator foundry line to further expand downstream. 2. Products and Technical Routes - Core Products and Prices: - 6-inch wafer substrate: approximately RMB 1,000/piece. - 8-inch wafer substrate: RMB 4,000-5,000/piece. - Bonded wafer: shipping price approximately USD 4,000-5,000/piece. - Current Capacity: Annual capacity for wafer substrates is about 600,000-700,000 pieces; for bonded wafers, 40,000-50,000 pieces. - Yield Levels: 6-inch substrate yield above 90%, 8-inch about 70%-80% and still ramping up, 12-inch in the process of industrialization. Bonded wafer yield is currently about 50%-60%, at par with the industry level. 3. ...