Dinglong Starts Construction of Third Soft Polishing Pad Line: 300,000 Pads/Year, Targeting Glass Substrate and Large-Size Pads

On September 9, Dinglong Co., Ltd. (300054.SZ) disclosed on its investor interaction platform that construction of its third soft polishing pad production line in Qianjiang has officially begun, with a planned annual capacity of 300,000 pads and completion expected by the end of 2026. The new line focuses on two high-end product directions: CMP pads for glass substrates and large-size pads (diameter greater than 2 meters). Once operational, it will further complete the company's CMP pad product matrix, covering substrate manufacturing, wafer fabrication and advanced packaging applications.

The company also revealed that its self-developed soft polishing pads for glass substrates are undergoing customer qualification sampling, and that it has secured volume orders from a core panel-level packaging customer, with gradual adoption planned for panel-level packaging lines using glass substrates. In addition, its polishing pad business continues to expand into large-diameter silicon wafers, third-generation semiconductor SiC and TSV advanced packaging, where products have entered qualification and are shipping steadily.

On shipment data: in the first half of 2026, the company's CMP pad and slurry shipments set successive monthly records, with June pad shipments exceeding 50,000 pieces and monthly slurry sales surpassing RMB 40 million. First-half sales of slurries and cleaning solutions reached RMB 193 million, up 63.02% year on year, and the semiconductor materials segment gross margin reached 71.93%. The company says it has established its position as the leading domestic supplier of CMP pads, with its domestic market share in hard pads steadily rising, and has reached initial cooperation intentions with several foreign wafer fab customers, advancing product testing and qualification.

Industry perspective: as domestic wafer fab capacity keeps expanding and advanced-node and advanced-packaging processes continue to evolve, demand for domestic CMP materials is set to keep growing. Leading local suppliers' intensive capacity additions and expansion into emerging applications such as glass substrates signal that import substitution in CMP consumables is entering an accelerated phase.

Source: Sohu Finance (company investor-relations platform reply) https://m.sohu.com/a/1073742661_121157270