On June 9, 2026, Dinglong Corporation announced the expansion of the Qianjiang CMP soft polishing pad production line.
Project Overview
Glass substrate technology (TGV) is widely regarded as the next generation high-density interconnect technology to replace silicon via (TSV). It has broad application prospects in advanced packaging, optoelectronic co packaging (CPO), high bandwidth memory (HBM) and other fields. In order to seize the opportunities of semiconductor industry upgrading, glass substrate technology iteration, large-size substrates and other industries, further consolidate the main business advantages of semiconductor CMP polishing pads of Hubei Dinglong Holdings Co., Ltd. (hereinafter referred to as "the Company"), improve product layout, enhance long-term business value and comprehensive competitiveness, Hubei Dinglong Huisheng New Materials Co., Ltd., a wholly-owned subsidiary of Hubei Dinghui Microelectronics Materials Co., Ltd., plans to launch the third soft polishing pad production line in Qianjiang Park in the near future. Construction project. This project focuses on two high-end product directions: glass substrate CMP polishing pads and large-sized (diameter greater than 2 meters) polishing pads. The planned annual production capacity is 300000 pieces, and the total investment of the project is 30 million yuan. It is expected to be completed and put into operation by the end of 2026.
The investment amount of this project does not meet the criteria for submission to the board of directors or shareholders' meeting for review, and does not need to be submitted to the board of directors or shareholders' meeting for review. This investment does not constitute a related party transaction, nor does it constitute a significant asset restructuring.
Basic information of the project
1. Project content: Construct the third soft polishing pad production line, mainly producing glass substrate CMP polishing pads and large-sized polishing pads.
2. Implementation location: No.1 Changfei Avenue, Jianghan Salt Chemical Industrial Park, Qianjiang City, Hubei Province.
3. Implementing entity: Hubei Dinglong Huisheng New Materials Co., Ltd.
4. Investment scale: The planned investment is 30 million yuan.
5. Funding source: The company's own or self raised funds.
6. Planned production capacity: Annual production capacity of 300000 pieces.
7. Construction period: Expected to be completed and put into operation by the end of 2026, subject to actual implementation.
Industry background and necessity of project construction
（1） Introduction to segmented products in CMP polishing pad industry
CMP (Chemical Mechanical Polishing) polishing pads can be divided into hard polishing pads and soft polishing pads according to material properties. The core material of hard polishing pads is thermosetting polyurethane resin, which is generally produced by casting molding and has a high hardness. Hard polishing pads are widely used in various CMP processes for wafer manufacturing, including polishing of shallow trench isolation (STI), interlayer dielectric (ILD), tungsten vias, copper interconnects, and other processes.
The production line of this construction focuses on soft polishing pads, which are made of thermoplastic polyurethane resin as the core material and mainly produced using synthetic leather wet forming technology. The product hardness is relatively soft. Soft polishing pads have a wide range of application scenarios, not only serving as a buffer layer for hard polishing pads, but also widely used for precision polishing in various CMP processes of wafer manufacturing, copper barrier layer (Cubarrier) polishing, crystal back thinning, rough and precision polishing of large silicon wafers, polishing of silicon carbide substrates and other compound semiconductor substrate materials. In addition, soft polishing pads are widely used in fields such as mechanical hard disk polishing and glass polishing.
CMP soft polishing pads, as key consumables in the manufacturing process of products such as wafers, large silicon wafers, and glass substrates, are expected to have a domestic market size of over 1 billion yuan by 2026. Driven by the development of advanced processes and packaging, the industry is expected to maintain rapid growth. Currently, the supply of CMP soft polishing pads in China is dominated by overseas manufacturers, with a low localization rate.
（2） Current production capacity status and reasons for expansion
The company's soft polishing pad production line is located in Jianghan Salt Chemical Industrial Park, Qianjiang City. There are currently two synthetic leather wet forming production lines with an annual production capacity of 500000 pieces. Since the production line was put into operation in August 2022, after nearly 4 years of development, the products have covered various application fields such as hard polishing pad buffer layer, wafer CMP polishing, copper barrier layer (Cubarrier) polishing, crystal back thinning, coarse and fine polishing of large silicon wafers, and coarse and fine polishing of silicon carbide substrates. At present, the capacity utilization rate is close to 80%. The existing production capacity is expected to be difficult to match the rapid growth of downstream markets and the demand for new products brought about by new technological trends.
On the one hand, advanced packaging technology has developed rapidly in recent years, and CMP polishing materials have become a key supporting material affecting the large-scale production of glass substrate technology. TGV glass substrate technology is widely regarded as the next generation high-density interconnect technology to replace silicon via (TSV) in the industry, with advantages such as good thermal matching, high interconnect density, high frequency and low loss. It has broad application prospects in advanced packaging, optoelectronic co packaging (CPO), high bandwidth memory (HBM) and other fields. At present, glass substrate technology has started preliminary mass production in some international manufacturers. In glass substrate technology, the processing shape has changed from circular to square, and the brittleness of glass material is significantly higher than that of silicon wafer, which poses a new challenge to CMP process and higher requirements for CMP materials. Therefore, the research and mass production of CMP polishing pads for glass substrates will directly affect the process of large-scale implementation of glass substrate technology.
On the other hand, large-sized semiconductor substrates have become mainstream, with strong customer demand. The two existing soft polishing pad production lines of the company are mainly designed for wafer CMP related applications. Due to the width limitation of the production line, only polishing pad products with a diameter less than 1.5 meters can be produced. With the advancement of chip substrate production technology, 12 inch silicon wafers have become mainstream; The 8-inch silicon carbide substrate has achieved mass production, and the 12 inch silicon carbide substrate has also been developed and implemented. The rough polishing process of the above-mentioned large-sized substrates requires the use of large-sized polishing pads with a maximum diameter exceeding 2 meters.
In addition, the company's hard polishing pad production line located in Wuhan Economic and Technological Development Zone has increased its monthly production capacity to 50000 pieces in the first quarter of 2026. Subsequently, with the increase in hard pad production driving the demand for buffer pads, as well as various demands brought about by the release of new production capacity from downstream customers, the demand for CMP soft polishing pads of the company is expected to continue to increase.
