Shengmei Shanghai (688082.SH) stated on the interactive platform on November 28 that the rapid growth of AI terminal products is driving a surge in demand for high-bandwidth memory (HBM). HBM products will promote the demand for silicon through-via (TSV) plating and 2.5D advanced packaging, which will also drive the growth in demand for the company's core products, such as TSV plating equipment, high-temperature single-piece SPM equipment, Solvent cleaning equipment, backside cleaning and thinning equipment. The market's transition to AI further drives the demand for the company's technology. The company has been deeply cultivating in the above-mentioned areas for many years, and the development prospects of some key technologies are gradually emerging. The company is bullish on the outlook for fan-out panel-level packaging equipment. In the third quarter, the company launched three new products for panel-level advanced packaging, including horizontal plating equipment, edge etching equipment, and negative pressure cleaning equipment. Panel-level advanced packaging technology can be applied to micron-level high-density packaging, especially suitable for GPU applications in AI packaging and high-density HBM. The company's introduction of 600mm×600mm and 515mm×510mm panel-level advanced packaging can solve the problem of limited area and high cost in 300mm silicon chip packaging for AI chips. These new products demonstrate the company's strong supply capabilities in the panel-level advanced packaging market and can effectively meet market demand. Currently, many leading global semiconductor manufacturers have chosen it as an AI chip packaging solution, and we also see tremendous opportunities for development in this. The company will actively seize market opportunities, fully leverage its existing market position, technological advantages, process accumulation, and industry experience, continue to adhere to independent research and development innovation, continuously improve equipment process performance and capacity, optimize product portfolio, enhance the company's core competitiveness, thereby promoting steady performance growth.