Recent research notes from Naxin Micro indicate that the destocking of most downstream industries is nearing completion and they are gradually moving towards a recovery and growth phase. Among them, downstream industries such as industrial control and power modules in the pan-energy area have begun to gradually recover, some clients in the light storage field have also seen signs of recovery in the second quarter, and the consumer electronics field is the first to emerge from the impact of inventory. The automotive electronics field continues to maintain a steady growth trend. The company also stated that it will actively pay attention to corresponding targets and merger and acquisition opportunities in the industry. In terms of direction, one is to focus on the main application track to help enrich product categories; the other is to pay attention to targets that are not completely consistent with the company's focus.