Progress for Glass in Advanced Packaging

研报英文原文证据摘录

Progress for Glass in Advanced Packaging

Idea

July 26, 2026 08:47 PM GMT

Morgan Stanley Taiwan Limited+MGreater China Technology Hardware | Asia Pacific Derrick Yang

Equity Analyst

Progress for Glass in Advanced Derrick.Yang@morganstanley.comVivi Huang +886 2 2730-2862

Research Associate

Vivi.Huang@morganstanley.com +886 2 2730-2860

Packaging Morgan Stanley Asia Limited+

Andy Meng, CFA

Joining several display supply chain players, Lens Tech revealed Equity Analyst

Andy.Meng@morganstanley.com +852 2239-7689

its latest progress in glass for advanced packaging through the

announcement of a partnership with Intel on glass core

substrates. We believe this could help with sentiment, but more

meaningful revenue contribution should take time.

Advanced packaging attracting attention: In our deep analysis, Emerging Greater China Technology Hardware

Asia Pacific

Opportunities for Glass in Advanced Packaging (October 27, 2024), we noted that Industry View In-Line

glass can offer cost advantages from larger dimensions. Moreover, it can provide

better electrical performance, leading to lower signal loss, less mismatch of

coefficients of thermal expansion among different materials to mitigate the warpage

issue, and greater mechanical strength to resist distortion during the manufacturing

process or operation. In the display supply chain, players are vying for opportunities

in this space as the chips and packages continue to get bigger; they hope to leverage

their existing expertise in the glass related processes in their core business.

Progress among players in the display supply chain:

• Lens Tech (300433.SZ) announced it will work with Intel on the glass core

with TGVs (link). Our checks indicate it will have a pilot line ready by end-