TF Securities pointed out that, overall, in 2025, the global semiconductor growth will continue the optimistic growth trend, and AI will drive the downstream growth in 2025. Looking ahead to the second quarter, it is recommended to pay attention to the performance elasticity of the design sector SoC/ASIC/storage/CIS in the second quarter. The edge AI SoC chip companies benefited from the release of edge AI hardware penetration. The first quarter performance has shown high growth, coupled with the intensive release of AI glasses in June and July, and the subsequent outlook is optimistic. The revenue growth rate of ASIC companies has gradually been reflected, and the positive news of the price lock of Xinyuan's fixed increase has been released. In the CIS sector, Huawei's PURA80 imaging upgrade and the demand for smart cars have driven the demand to rise.