During its earnings briefing in November, SMIC delved into the effects of the memory super cycle on the broader industry and the foundry sector specifically. Drawing on its technological expertise and its leading edge in key segments such as BCD (Bipolar-CMOS-DMOS), analog circuits, memory, MCU (Microcontroller Unit), and mid-to-high-end display drivers, along with a keen understanding of its customers' product strategies, SMIC is well-positioned to capitalize on the current industry cycle. The company is poised to actively meet market demand, aiming to sustain revenue growth through to 2026. In the current market landscape, prices are predominantly shaped by the interplay of supply and demand. Notably, SMIC's memory and BCD products are experiencing a supply shortage, resulting in upward price trends. In contrast, some competitors have opted to halt production of mature capacity, further tightening market supply.