CITIC Securities: It is recommended to pay attention to companies in the silicon-based materials industry that are expanding into the downstream high-growth track.

The research report of CITIC Securities pointed out that the silicon-based materials industry is currently in a cyclical bottoming consolidation phase. Supply-side growth has significantly slowed down, but the industry has not experienced deep losses. It is difficult for the industry to spontaneously clean up, and we look forward to future policies breaking the "anti-incumbent" trend. It is recommended to pay attention to companies in the silicon-based materials industry that are extending and expanding into downstream high-growth tracks.