Industry News
May 22, 2026, 10:16 AM
BDD-global
1457
Guide
Highlights at a glance
BOE and Corning signed a 3-year MoU to collaborate on glass-based packaging substrates, foldable glass, perovskite glass, and optical interconnects—areas still in pilot or pre-commercial stages. Meanwhile, Yaopi Glass’s RMB 500M Yizheng green industrial park—focused on high-end automotive glass—nears completion, targeting automated annual output of 4.8M windshields/sunroofs and 5M laminated door glasses, with strong export plans and sustainability commitments. In contrast, the domestic float glass market remains weak: rising supply, high inventory (76.46M weight cases), and negative profitability across fuel types persist, with only coal gas-fired glass showing marginal profit improvement. Real estate demand remains sluggish.
I.Industry News
BOE Signs Cooperation Memorandum with Corning, Laying Out Multiple Emerging Glass Businesses
On the evening of May 20, BOE Technology Group Co., Ltd. announced that it has signed a Memorandum of Understanding (MoU) with Corning Incorporated. The two parties will cooperate on key areas including glass-based packaging substrates, foldable glass, perovskite glass substrates, and optical interconnection applications. The MoU is valid for three years, and specific cooperation terms for each area will be negotiated and executed under separate formal agreements.
The company noted that its glass-based packaging, perovskite, and optical interconnection businesses have not yet achieved mass production revenue and carry significant uncertainties. In 2024, BOE invested RMB 993 million to build a glass-based packaging substrate pilot line. Currently, samples have been delivered to some domestic customers, with some passing concept certification and entering technical testing.
In 2023, the company’s subsidiary invested in a MicroLED chip production line. Currently, MicroLED optical interconnection chips have been sampled and delivered to customers. For the perovskite business, BOE has built three platforms since 2024: a 25mm×25mm glove box, a 300mm×30mm pilot line, and a 1200mm×2400mm semi-commercial line, with a total investment of nearly RMB 1 billion. The company adopts parallel development of rigid, flexible, and tandem component technology routes.
Yaopi Glass Yizheng Industrial Park Project Targets Completion by End of May
Recently, the construction of Yaopi Glass’s Yizheng New Energy Green Industrial Park project has entered the final sprint phase. The main building was capped in just 75 days after construction began on January 10 this year. Currently, the building has passed preliminary acceptance, with supporting works such as floor grinding and curing, outdoor rainwater and sewage pipeline laying, and park road construction in full swing.
As a flagship project for industrial upgrading of Yaopi Group, and a high-end manufacturing project prioritized by the Economic Development Zone, the project covers 320 mu with a total construction area of 153,000 square meters and a total investment of RMB 500 million. It focuses on the R&D and production of high-end automotive glass.
During construction, the project strictly implemented the "Six 100%" green construction management requirements, achieving 75% construction waste recycling rate—far exceeding Yangzhou’s urban waste disposal standard.
Upon completion, the project will adopt a highly automated production model, enabling a closed-loop, hands-free process from raw material input to finished product output. It will have an annual production capacity of 4.8 million pieces of high-end front windshields and sunroofs, plus 5 million pieces of high-end laminated door glass.
Products will be supplied to mainstream automakers in the Yangtze River Delta, such as Volkswagen and General Motors, and exported to North America, Europe, Japan, Malaysia, and other regions. The project also allocates RMB 2 million for environmental protection equipment and plans an additional RMB 60 million investment in a 21MW rooftop photovoltaic project, generating an estimated 23 million kWh of electricity annually to practice green and low-carbon development.
II. Float Glass Market Analysis
2.1 Float Glass Market Review
This week, the domestic 5mm float glass market showed a weak trend with limited price fluctuations. On the supply side, multiple production lines ignited or resumed production, increasing market supply and exacerbating shipment pressure. On the demand side, downstream enterprises maintained rigid procurement with low stocking willingness, leading to sluggish trading. Inventory rose slightly due to slow shipments in North and Central China affected by rainfall, while East China saw a minor decline.
Overall, the market lacks substantial positive support, with high inventory and rising supply suppressing upward price momentum. Enterprises prioritize stabilizing prices and destocking, and the market is expected to remain weak in the short term, with focus on new capacity launches and downstream real estate completion demand.
2.2 Float Glass Price Comparison (RMB/ton)
III. Float Glass Production Profit
3.1 Current Profit Situation
As of May 21, the average weekly profit of float glass fueled by petroleum coke was -147.47 RMB/ton, unchanged week-on-week; that fueled by natural gas was -132.80 RMB/ton, unchanged week-on-week; that fueled by coal gas was -8.96 RMB/ton, up 5.92 RMB/ton week-on-week.
3.2 Profit Trend Chart
（Note: The profit trend chart covers data from January 4, 2024, to May 22, 2026, reflecting the continuous decline in profitability of float glass fueled by petroleum coke, natural gas, and coal gas since mid-2024, with coal gas-fired glass showing a slight recent recovery.）
IV. Float Glass Production & Operation
4.1 Operation Rate & Unit Dynamics
This week, the national float glass operation rate was 70.07%, up 0.49% week-on-week. Three production lines ignited/resumed production, and one was shut down for maintenance.
Yaopi Glass Yizheng Industrial Park Project Targets Completion by End of May
Recently, the construction of Yaopi Glass’s Yizheng New Energy Green Industrial Park project has entered the final sprint phase. The main building was capped in just 75 days after construction began on January 10 this year. Currently, the building has passed preliminary acceptance, with supporting works such as floor grinding and curing, outdoor rainwater and sewage pipeline laying, and park road construction in full swing.
As a flagship project for industrial upgrading of Yaopi Group, and a high-end manufacturing project prioritized by the Economic Development Zone, the project covers 320 mu with a total construction area of 153,000 square meters and a total investment of RMB 500 million. It focuses on the R&D and production of high-end automotive glass.
During construction, the project strictly implemented the "Six 100%" green construction management requirements, achieving 75% construction waste recycling rate—far exceeding Yangzhou’s urban waste disposal standard.
Upon completion, the project will adopt a highly automated production model, enabling a closed-loop, hands-free process from raw material input to finished product output. It will have an annual production capacity of 4.8 million pieces of high-end front windshields and sunroofs, plus 5 million pieces of high-end laminated door glass.
Products will be supplied to mainstream automakers in the Yangtze River Delta, such as Volkswagen and General Motors, and exported to North America, Europe, Japan, Malaysia, and other regions. The project also allocates RMB 2 million for environmental protection equipment and plans an additional RMB 60 million investment in a 21MW rooftop photovoltaic project, generating an estimated 23 million kWh of electricity annually to practice green and low-carbon development.
II. Float Glass Market Analysis
2.1 Float Glass Market Review
This week, the domestic 5mm float glass market showed a weak trend with limited price fluctuations. On the supply side, multiple production lines ignited or resumed production, increasing market supply and exacerbating shipment pressure. On the demand side, downstream enterprises maintained rigid procurement with low stocking willingness, leading to sluggish trading. Inventory rose slightly due to slow shipments in North and Central China affected by rainfall, while East China saw a minor decline.
Overall, the market lacks substantial positive support, with high inventory and rising supply suppressing upward price momentum. Enterprises prioritize stabilizing prices and destocking, and the market is expected to remain weak in the short term, with focus on new capacity launches and downstream real estate completion demand.
2.2 Float Glass Price Comparison (RMB/ton)
III. Float Glass Production Profit
3.1 Current Profit Situation
As of May 21, the average weekly profit of float glass fueled by petroleum coke was -147.47 RMB/ton, unchanged week-on-week; that fueled by natural gas was -132.80 RMB/ton, unchanged week-on-week; that fueled by coal gas was -8.96 RMB/ton, up 5.92 RMB/ton week-on-week.
3.2 Profit Trend Chart
（Note: The profit trend chart covers data from January 4, 2024, to May 22, 2026, reflecting the continuous decline in profitability of float glass fueled by petroleum coke, natural gas, and coal gas since mid-2024, with coal gas-fired glass showing a slight recent recovery.）
IV. Float Glass Production & Operation
4.1 Operation Rate & Unit Dynamics
This week, the national float glass operation rate was 70.07%, up 0.49% week-on-week. Three production lines ignited/resumed production, and one was shut down for maintenance.
4.2Weekly Output
National weekly float glass output reached 1.0173 million tons, up 0.45% week-on-week.
V. Float Glass Inventory
As of May 21, national float glass inventory stood at 76.455 million weight cases, up 44,000 weight cases week-on-week.
VI. Upstream & Downstream Analysis
6.1 Soda Ash Market Review
This week, the domestic soda ash market remained weak and stable. Light soda ash mainstream prices ranged from 960 to 1,570 RMB/ton, and heavy soda ash from 950 to 1,420 RMB/ton, with no regional price changes.
Supply remained high despite minor maintenance. Demand was weak, with downstream buyers cautious about high prices. Total inventory fell 105,700 tons to 1.776 million tons but remained under pressure. The soda ash futures market also trended weak, affected by oversupply expectations and weak demand.
6.2 Real Estate Data
（Note: This section summarizes key real estate indicators linked to glass demand, including completion rates and new construction starts, reflecting weak downstream demand.）
Disclaimer: This report is for reference only and does not constitute investment advice. Follow Boododo Official WeChat for more industry insights.
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