Semiconductor industry will experience "rebound" - "slow recovery" - "economy growth" three stages of the recovery process, the current rebound in the later stage, capacity utilization is expected in Q3 will be improved, after four quarters with the steady demand recovery, the semiconductor industry will enter a "slow recovery."

North American and Japanese semiconductor equipment B / B value of continuous reaction, the amount of equipment orders for signs of a rebound in capital spending began to bottom out. We believe that the semiconductor industry may be entering in 2009 Q4, "slow recovery" in 2010 after four quarters will be entering the "boom growth period."

Global economic growth is closely related with the development of semiconductor industry. According to the forecast of international organizations, the global economy in 2009 will fall into negative growth, a weak recovery in 2010. From the world's economic power the United States, consumer confidence is still strong, consumer demand remains weak. U.S. consumer recovery will be China's electronic information industry, the key to revival.

As the current global economy and consumer demand is still strong downstream, we are in the second half of the overall performance of the electronic components industry cautious, given the industry a "neutral" rating. According to the global semiconductor industry may be entering the economy next year, four-quarter growth of the judge, we believe that listed companies on the domestic electronic components should be the best investment timing Q2 next year.