GLONGHUI, Oct. 26 | According to a research report published by CMB International, Texas Instruments's third-quarter revenue fell 14% year over year, in line with market expectations; gross margin fell 690 basis points from year to year to 62.1%, below market expectations. The company expects the fourth quarter to continue the trend of continued weakness in downstream demand in the third quarter, and revenue and profit will continue to be pressured. The bank believes that Dezhou Instruments' performance guidelines that fall short of expectations, the increase in vacant production capacity, and judgment on downstream demand may put pressure on the prices and profit margins of domestic analog semiconductor manufacturers. The global analog semiconductor industry is recovering slowly, and scattered downstream applications have also brought uncertainty to the pace of recovery in the industrial cycle. Downstream automotive electronics is the only area that maintains a good boom. The bank is optimistic about the increase in share and import substitution potential of upstream parts companies in the relevant industrial chain, including BYD Electronics, Hongteng Precision, and BOE Precision.