According to a research report by CITIC Securities, the electronics industry maintained a steady growth trajectory in the second quarter of 2025, fueled primarily by the surge in AI-related demand and the accelerated pace of domestic substitution. On the demand front, the appetite for AI-related technologies continues to intensify. Meanwhile, from the perspective of domestic substitution, domestic computing power is poised for substantial growth, with equipment companies reaping the benefits of fulfilled early orders. These companies also hold the potential for accelerated expansion in advanced logic and memory in the foreseeable future. Among the notable segments, AI-related PCB stands out, along with leading domestic AI chip manufacturers, prominent Apple supply chain companies, top IoT firms, CIS leaders, equipment manufacturers, shipping chip producers, and analog chip manufacturers.