I took some time to review Changxin's prospectus. A few points are quite interesting:

1. Although Mr. Zhu claims not to cash out, he has already cashed out over 2 billion yuan through Zhaoyi Innovation. Even so, given the current FOMO level, Zhaoyi Innovation will still win big.
2. From the situation of its suppliers, especially when comparing over the years. The top-ranked supplier remains chemicals, and the increase in silicon wafers is also significant.
This is very reasonable because after DDR5, chemical cleaning indeed saw a substantial rise. The ranking increase of silicon wafers is probably due to a significant boost in capacity utilization.
So, if there are domestic companies capable of providing such high-purity chemicals and they hold a large market share, then it's very likely that the demand for CMP (Chemical Mechanical Planarization) is increasing rapidly, probably led by Anji Technology. Additionally, Shanghai Xinyang and Jianghua Microelectronics are also involved.
Furthermore, an overlooked company is Yake Technology, which has already entered SK Hynix, so it is also a high-purity specialty gas supplier for Changxin.
3. Changxin explicitly states that they will be upgrading their production lines, focusing on etching and thin film deposition. North Microelectronics and Microchip are the key players.