① extended sense calculation integrated chip + deep ploughing Chiplet technology, the company's performance elasticity this year is nearly 100% at the bottom of the semiconductor cycle, and a number of self-developed chips are shipped smoothly; the tender volume of ② is expected to increase by 50% this year. The investment in this industry reached an all-time high from January to April, and the demand for downstream core value started. Analysts expect that 2024-25 may be a delivery year, stimulating related companies' business to enter an explosive period.