[Click eStock] "Philoptics, Attention Needed on Glass Substrate Related Matters"

Yuanta Securities analyzed on the 19th that continuous attention is needed regarding Philoptics' glass substrate business.

Myungjun Kwon, a researcher at Yuanta Securities, explained, "Glass substrates are expected to replace semiconductor chip interposers" because "they can compensate for the shortcomings of organic and silicon materials previously used as interposer materials."

He added, "Organic materials have uneven surfaces, making fine wiring difficult," and "silicon has high thermal conductivity and challenges in scaling up, which are highlighted as drawbacks in artificial intelligence (AI) semiconductors."

He stated, "Since glass substrates are an emerging market, equipment companies, especially those processing glass as a material, will play key roles," and introduced, "As seen in displays that process glass, glass is processed using lasers." He also emphasized, "There are TGVs that drill holes in glass substrates and singulation equipment that ultimately cuts the glass substrates."

Researcher Kwon noted, "Philoptics is attracting attention because it possesses technological capabilities and references for glass processing through domestic display companies," and explained, "it is collaborating with various companies aiming to proactively enter mass production of glass substrates." He predicted, "As market attention on glass substrates expands, IDM, packaging, and glass companies are likely to participate in the industry," and added, "For latecomers, there will be a higher preference for equipment that is proactively applied and operates stably."

He analyzed, "Despite a stock price increase of over 150% compared to the beginning of the year, continuous interest is necessary," and said, "It is important to consider the increasing number of collaborating companies and the relatively low foreign ownership compared to tech companies with similar market capitalization."