Xinlai Holdings: Currently, the company's semiconductor business has maintained a good level of hand orders, with strong demand from downstream customers.

Xinlaiyingcai recently stated during institutional research that by 2026, the global, especially the Chinese mainland, semiconductor industry is in a new round of peak expansion, with domestic wafer fabs maintaining high capital expenditures. Furthermore, the trend of localization of the supply chain is accelerating, which will bring significant order growth to the company's semiconductor business. Currently, the company's order backlog remains at a good level, with strong demand from downstream customers. The company will continue to seize the dual opportunities of semiconductor expansion and domestic substitution, accelerate capacity matching and market expansion, and expects rapid growth in the semiconductor business in the following quarters.