Tianfeng Research Reports believe that purchase subsidies for new products such as mobile phones may drive the demand for Semiconductors. It is expected that in the future more regions across the country will include mobile phones and other products in the subsidy scope. Against the backdrop of AI enhancing the user experience of new products, purchase subsidies may accelerate Consumer upgrades, and it is recommended to pay attention to the increase in demand for chips related to mobile phones/tablets/smartwatches and fitness bands.