[Featured Stock] Chemtronics Enters Glass Substrate Process with EUV Core Materials... Strong Growth Momentum

Kemtronics is showing strong performance. Securities firms' analysis that the TGV process business, a core process of glass substrates based on large-area display glass wafer etching technology, will accelerate appears to be influencing the stock price. TGV (Through Glass Via) is a key process in glass substrate manufacturing, consisting of a dry process (laser) that drills holes in the glass substrate and a wet etching process that improves particles inside the holes and total thickness variation (TTV).

As of 9:15 AM on the 8th, Kemtronics was trading at 31,350 KRW, up 5,200 KRW (19.89%) compared to the previous trading day.

Researcher Jo Jeong-hyun of Hana Securities explained, "Kemtronics possesses original technology for etching large-area display glass wafers," adding, "It has enhanced its TGV process technology by participating as a partner in the TGV process project of a global semiconductor OSAT (Outsourced Semiconductor Assembly and Test) company."

He said, "The customer's glass substrate pilot line expansion is expected in the second half of this year," and added, "Kemtronics' new growth engine through the TGV business will be fully operational."

It is anticipated that Kemtronics' new growth engine through the TGV business will be fully operational.

Researcher Jo also noted, "Expectations are growing for PGMEA quality testing, a core material for semiconductor extreme ultraviolet (EUV)," explaining, "PGMEA is a key material accounting for 70-80% of the photoresist (PR) used in the semiconductor EUV process." Furthermore, he analyzed, "Kemtronics has succeeded in developing and localizing 5N ultra-high purity PGMEA," emphasizing, "Since this material has a high dependence on imports, localization is very significant."

It is estimated that this year’s sales will reach 619.7 billion KRW, with an operating profit of 33.6 billion KRW, representing increases of 14.2% and 75.6%, respectively, compared to last year.

Researcher Lee Gyu-ha of NH Investment & Securities stated, "Glass Core Substrate (GCS), also called glass substrate, is a substrate that replaces raw materials from organic materials to glass," and predicted, "To optimize the semiconductor miniaturization trend, glass will become the core future substrate material."