Shares of Triumph New Energy Company Limited (ASX: 01108) experienced a significant intraday surge of over 40%. At the time of writing, the stock was up 17.79%, trading at HK$3.31 with a turnover of HK$523 million.

The price movement follows industry news that TSMC, along with its supply chain partners, has initiated a development plan for glass substrates. This move signifies that glass substrates are entering the formal industrialization verification phase. TGV, or Through Glass Via technology, is a core technology for chip glass substrates.

Public information indicates that Triumph Science&Technology Co.,Ltd.'s (SHSE: 600552) TGV glass technology is currently in the research and development phase. The company has produced related samples and is continuously conducting product testing and improvements with downstream clients.

It is important to note that Triumph New Energy Company Limited recently stated on an interactive investor platform that its current strategic positioning is as a new energy materials platform under China National Building Material Group and the Triumph Science&Technology Group. The company focuses on the new energy materials sector, with its main business being the production and sales of photovoltaic glass. The company clarified that it has no glass substrate projects under research and development.