汽车芯片，惨淡经营

Core Viewpoint - The automotive industry's demand for chips is unlikely to recover before the end of this year, with a potential rebound taking several more months [2]. Group 1: Automotive Industry Challenges - Automotive manufacturers are currently facing a downturn due to slow electric vehicle adoption and intense competition from Chinese rivals, who are gaining market share with cheaper and more diverse product lines [2]. - Manufacturers are still working through chip inventories accumulated during the pandemic peak, leading to weak current demand for semiconductors [2]. - Soitec's CEO Pierre Barnabe expressed uncertainty about when inventory adjustments will conclude, indicating a cautious outlook for the automotive market [2]. Group 2: Soitec's Market Position and Strategy - Soitec had initially anticipated limited growth until March 2026 but has suspended guidance due to low visibility and market uncertainty, opting for quarterly forecasts instead [3]. - The company exports a small amount to the U.S., approximately 8% of its fiscal year 2025 revenue, and is less affected by tariffs compared to other semiconductor firms [3]. - Soitec is exploring potential expansion in the U.S. but currently finds the market insufficiently active for such moves [3]. Group 3: Sales Projections and Future Outlook - Soitec expects a significant year-over-year decline in sales for its automotive and industrial segments, while its mobile communications revenue is projected to remain low [4]. - The company anticipates slight growth in its edge and cloud AI business, identifying AI as a key growth driver across various sectors [4]. - Despite current challenges, Barnabe remains optimistic about the long-term prospects of the automotive industry, noting the increasing complexity of vehicle components and chips [4].