Manz (亞智科技) has shipped more than 50 units of panel-level ECD equipment for CoPoS, FOPLP, and glass core substrate packaging, with the 700×700mm format accounting for more than 50% of cumulative shipments and Taiwan generating more than half of revenue. The company expects glass core substrates to run on its 510mm platform, though glass TGV processing has not yet reached mass production. Manz plans to list on Taiwan's emerging stock board in June 2027 and pursue a full listing by 2028.
What technology underpins Manz's advanced-packaging lineup, and which product lines has it built around it?
Manz (亞智科技) has built its advanced-packaging equipment portfolio around redistribution-layer (RDL) technology, extending it into CoPoS, FOPLP, and glass core substrate equipmentCITE:E9. The company has completed mass-production platforms for panel-level electrochemical deposition (ECD) and wet processes across three panel formats — 310mm, 510mm, and 700mm — while continuing to deepen its Glass Core TGV (through-glass-via) capabilityCITE:E9CITE:E1. These platforms are marketed under the Omni 310, Omni 510, and Omni 700 seriesCITE:E3. Lin Jun-sheng (林峻生), general manager of Manz, said the two flagship applications diverge by chip type: FOPLP targets power management chips (PMIC), radio-frequency components, low-earth-orbit satellite chips, and microcontrollers (MCU), while CoPoS is applied to AI graphics processors (GPU), HPC chips, and application-specific chips (ASIC)CITE:E15.
How large are shipments of Manz's panel-level ECD equipment, and how mature is each size?
Manz has shipped more than 50 units of panel-level packaging ECD equipment, with the 700×700mm format accounting for more than 50% of cumulative shipmentsCITE:E2CITE:E5. Combined applications across all three sizes span PMIC, sensors, satellites, MCU, 5G, and AI/HPC chipsCITE:E5.
| Panel size | Shipment status | Notes |
|---|
| 700×700mm | More than 50% of cumulative shipmentsCITE:E5 | Already in mass production for some mature Fan-Out applicationsCITE:E4 |
| 510mm | Second-largest shipment shareCITE:E5 | Expected specification for glass core substratesCITE:E6 |
| 310mm | Newest size, with demand described as rising quickly in recent yearsCITE:E5 | Some customers now evaluating a shift to panel-level 2.5D packagingCITE:E4 |
What specification does the glass core substrate use, and how does Manz address the glass TGV manufacturing challenge?
Manz expects glass core substrates to mainly adopt the 510mm panel-level advanced-packaging specificationCITE:E6. Lin acknowledged that the glass through-glass-via (TGV) process has not yet reached true mass production, though a growing number of manufacturers entering the field could shorten the time needed for the process to matureCITE:E16. Within that process, Manz has positioned itself around two specific steps — via-hole etching and electroplating — to help customers with prototyping, R&D, and trial productionCITE:E16. The broader panel-level packaging (PLP) market, driven by this shift, is expected to enter a mass-production growth phase between 2029 and 2030CITE:E14.
What share of Manz's revenue and customer base comes from Taiwan?
Taiwan accounts for more than half of Manz's revenue, with other Asian customers based in China, Malaysia, and JapanCITE:E7. Lin said Taiwanese customers account for more than half of the company's business, alongside Asian customers in China, Malaysia, and JapanCITE:E11.
How is Manz expanding overseas, and where does it sit in Taiwan's domestic advanced-packaging supply chain?
Manz began shipping into the US and European markets this year, while Taiwan and Asia remain its primary marketsCITE:E11. Lin said TSMC (台積電) plays an important role within the domestic advanced-packaging supply chain that Manz's equipment feeds intoCITE:E10.
What are Manz's capital-market plans, and how does it view the advanced-packaging growth outlook?
Manz currently holds registered capital of about NT$200 million (2億元) and plans to list on Taiwan's Taipei Exchange emerging stock board in June 2027, targeting a full listing by 2028CITE:E8. Lin, citing industry data, expects global semiconductor advanced-packaging revenue to exceed general packaging revenue this yearCITE:E13.
What this means
Manz's shipment mix and the glass-core specification point in the same direction: the 700×700mm format underwrites current Fan-Out volume at more than 50% of cumulative shipments, 510mm carries the second-largest existing shipment share and is also the size Manz expects glass core substrates to use, and 310mm is where customers are now testing a move into 2.5D packagingCITE:E5CITE:E6CITE:E4. That progression sits inside a market Manz itself dates in stages — glass TGV still short of mass production todayCITE:E16, and the broader PLP market not reaching a mass-production growth phase until 2029-2030CITE:E14 — while the company's Taiwan-majority revenue baseCITE:E7 and its planned 2027 emerging-board listing followed by a 2028 full listingCITE:E8 both fall well ahead of that window.