As per a research report from CITIC Securities, the third quarter of 2025 has traditionally been the peak season for the electronics sector. Under normal demand scenarios, the overall industry performance is projected to sustain its upward growth trend. Notably, the soaring demand for AI computing power is acting as a catalyst, propelling the rapid development of both overseas and domestic computing - power supply chains. The storage market is witnessing a more positive outlook. The growth rates of demand for NAND and DRAM, along with their price hikes, have surpassed initial expectations. In the business - to - business (ToB) pan - industrial segment, demand is on the rise. Related areas such as analog, power, and mature process technology are anticipated to achieve significant year - on - year growth rates. This positive trend is likely to persist until the end of the year. For consumer electronics, downstream demand remains steady. The smart imaging industry is experiencing strong demand, and some companies are optimistic about their performance. The localization process of the semiconductor equipment chain is advancing steadily. Advanced logic orders have been secured, and storage orders are bouncing back. Moreover, the trends of mergers and acquisitions (M&A) and industry integration within the sector are becoming more and more pronounced.