On September 16, Shanghai Securities released a research report stating that the SEMI report shows that the global semiconductor equipment shipment value reached $33.07 billion in Q2 2025, a year-on-year increase of 24%. The sales in mainland China amounted to $11.36 billion, a year-on-year decline of 2%, but a quarter-on-quarter increase of 11%, maintaining approximately 34.4% of the global market share as the largest semiconductor equipment market. The launch of key products will gradually drive the market value of Micro LED chips, which is expected to reach $461 million by 2029. Micro LED is gradually achieving commercialization in various fields, from televisions and smartwatches to automotive displays, with each new product launch symbolizing a technological breakthrough. The firm believes that the electronic semiconductor industry may be on the verge of a comprehensive recovery by 2025, with the competitive landscape of the industry expected to accelerate clearing and recovery, and the industry profit cycle and related company profits likely to continue to recover. The electronic industry rating is maintained at “Overweight.” Shanghai Securities