Zhong Guo Neng Yuan Wang·2025-11-10 03:41Core Insights - TSMC is shifting its focus towards advanced processes and will gradually outsource some 40-90nm orders to its subsidiary, World Advanced [1][3] - TSMC has announced the suspension of its 6-inch wafer fab in Hsinchu and plans to exit the GaN foundry business within two years, reallocating resources to higher-margin businesses [1][4] Industry Performance - The chemical sector performed well this week, with the Shenwan Chemical Index rising by 3.54%, outperforming the CSI 300 Index by 0.82% [2] - Short-term macro policies are relatively stable, with a focus on three key tracks: growth in terminal industries like robotics and AI, low-valuation cyclical sectors, and actual changes in industry fundamentals such as the lithium battery supply chain [2] Major Events - TSMC's exit from mature processes marks a significant strategic shift, focusing on higher-margin business areas [3][4] - The Dutch government anticipates that Ansem China will soon resume chip supplies, with constructive talks with China [4] - The U.S. government is evaluating military options against Venezuela, including seizing oil fields, leading to a slight increase in WTI crude oil prices [4]