LDK glass
Taiwan glass
Nittobo
Asahi fiber glass
玻纖布方面也主攻高階產品低介電（Low DK）技術，為全球少數供應商之一，下半年目標全球市占逼近30％。
台玻
- Starting from July, monthly revenue are still showing very moderate y/y growth. No significant increase.
- Low DK product already being qualified, shipping to US big customers.
- But why the revenue data did not increase accordingly?
- 大陸玻璃純鹼期貨price rally sharply.
- 林伯豐指出，目前台玻在高階玻纖布產品開發上，已研發出第一代低介電玻纖布的DK值在10GHz下有4.58，第二代DK值4.3的產品也已完成，並持續取得國際終端大廠認證採用。
他表示，目前全球能供應高階Low DK玻纖布僅三家，包括日本日東紡、美國AGY，以及台玻；目前集團市占率約兩成，下半年在產品放量出貨下，有望挑戰三成市占，集團獲利狀況將同步獲得改善，公司將持續努力、提升獲利能見度。
據傳，台玻Low DK玻纖布已獲得銅箔基板（CCL）大廠台光電認證，並應用在5G行動通訊基礎建設、高階AI伺服器、車載裝置、高階顯卡等上。
- 不過台玻強調，長期而言，認為要到2025、2026年，整體玻璃纖維布銷售狀況才有望恢復正常水準。
- 台光電在AI伺服器的玻纖布應用中，台玻供貨比重約在25~35%
Nittobo's point of view
- Strong sales of Special Glass yarn and cloth were driven by continued healthy demand for
data center applications. Sales and profit increased (Nittobo, Aug 2024, upward revision).
- we believe that supply chain inventory build-up for T-glass was concentrated in the first quarter, and that demand will be adjusted to the actual level in the second quarter (Nittobo, Aug 2024, upward revision).
- Constructed new Special Glass factory in Taiwan
- NER needs will increase as high-end equipment in data centers begin to switch from 400GbE to 800GbE.
- industrial demand has no sign of recovery, might be a potential upcoming catalyst once every industrial demand comes back, echoing MCU suppliers'(STMicro, Infineon) view.
- 2020 Jul big fire interrupting the supply. 2019 Glass fiber shortage.
建榮 5340
- revenue significantly increase starting March.
- stock price rally in May up to $6x, but not sustaining and fall back to $45.
- Nittobo price didnt increase much.
- AI伺服器需求上來時公司產品尚未獲得取得第一波認證，未能第一時間跟上趨勢，直到去年第4季客戶端完成相關認證才開始銷售, 公司本身也希望今年下半年能搭上趨勢。
- 今日建設工程順利完成，對於日東紡集團的營運具有重大戰略意義，未來新廠生產之低介電玻纖紗(Low DK)除供應國內廠商外，並將透過另一在臺投資公司建榮工業材料進行技術轉移
- Low Dk(NE glass)系列製品開發，其主要高頻高速低損耗應用，用於AI伺服器等產品。下一代玻璃纖維布方面，建榮NE Glass已經開始生產，T Glass仍在準備階段
富喬 1815
- revenue significantly increase starting March.
- stock price sharply increase, but with low volume.
- technology might falling behind.
- stock price sharply increase.
德宏 5475
-monthly revenue bad
customer in shortage
AMZN
Tesla/ Starlink
- order being cancelled might be due to the small volume.
Who made the PCB for AI servers?
日東紡的Low-Dk玻纖布在2019年就曾出現缺貨狀況，當時最大苦主便是台燿
目前台系三雄對於日東紡的仰賴程度，台燿仍然比重最高，其次是聯茂，台光電則使用其他日系業者的材料
CCL轉嫁成本的能力通常並沒有IC載板那麼高，對獲利肯定會帶來壓力
台系CCL(銅箔基板)三雄台燿、台光電、聯茂
低熱膨脹(Low-CTE)玻纖布更是大量使用在高階的ABF載板中，主要由日東紡提供玻纖布給日立化成(Hitachi Chemical)，生產成載板用CCL材料後再交給載板廠
高階供給更加吃緊，也會連帶衝擊ABF載板的供應，恐導致市場ABF載板供不應求態勢更加嚴重，加上市場傳出，ABF載板廠普遍也有持續調高報價的企圖心，受此事件影響，恐怕讓ABF載板報價有持續向上走揚的可能性。
