[SemiAnalysis CEO: Substrate is the "Biggest Bottleneck"] According to Jinse Finance, on October 25th, the CEO of SemiAnalysis stated: "I believe that in the semiconductor field, besides memory, the biggest constraint is the substrate. Substrate, PCB materials, substrate materials—all these components are severely underinvested. Many companies in the supply chain, those producing these materials in Japan, are relatively conservative and unwilling to invest heavily in production capacity. Therefore, a huge bottleneck has emerged. In terms of what can be produced in the next two years, whether it's accelerators or CPUs, and every other component in the supply chain, I believe the substrate is the biggest bottleneck."