On May 21, Corning rose 3.02% in regular trading, trading at $187.34/share, with trading volume of $263 million.

The movement was driven by the announcement that Corning signed a memorandum of cooperation with BOE Technology Group, China's leading display panel manufacturer. Under the agreement, the two companies will collaborate on glass-based packaging substrates, foldable glass, perovskite glass substrates, and optical interconnect-related applications. The memorandum is valid for three years, with specific cooperation details to be negotiated and formalized through separate agreements.

The partnership is strategically significant as it aligns Corning's advanced glass material expertise with BOE's massive display production capacity. BOE disclosed that it invested approximately RMB 993 million to build a glass-based packaging substrate pilot line in 2024 and has already sent samples to domestic clients, with some passing concept verification and entering technical testing. BOE's A-shares hit the daily limit up of 10% on the same day in response to the announcement.

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