[Yang Yang of Yangtze Securities: Domestic technology is ushering in industry realization and institutional support resonance] On November 13, Yang Yang, chief analyst of the electronics industry of Yangtze Securities, said that rising external policy uncertainty is driving the global technology industry chain to re-evaluate supply security and the pace of capital expenditures. For the country, it further highlights the important value of independent computing power, semiconductor manufacturing and basic software and hardware. Yang Yang said that domestic substitution is moving from single-point product breakthroughs to industrial chain collaboration, and from "available" to "easy to use at scale". Computing chips, high-performance storage, wafer manufacturing and other links have verified each other, and advances in equipment materials and EDA/IP support stable supply and continuous iteration; government affairs, finance, operators and manufacturing industries have demands for data security, privatized deployment and supply continuity, providing application space for domestic models and computing power.