Group 1: Multiple Sclerosis (MS) Market Opportunity - The global MS patient base is substantial, with a market size exceeding $200 billion, primarily focused on RMS treatment, which has limited neuroprotective effects [2][4] - BTK inhibitors are expected to fill the treatment gap in the PMS area by blocking chronic neuroinflammation and slowing neurodegenerative processes, with key data releases anticipated in H2 2025 [5][6] - Companies likely to benefit from this market opportunity include several listed firms, which are positioned to capitalize on the expected growth in the MS treatment landscape [2][3] Group 2: PCB Technology Revolution - The demand for SLP (Substrate-like PCB) is significantly increasing, with expectations that it will closely match IC substrate performance as CoWoP (Chip-on-Wafer-on-Panel) technology becomes more prevalent [6][8] - The SLP manufacturing process has high barriers to entry, and companies with leading positions in this space are expected to gain substantial benefits [6][9] - The requirements for upstream laser direct writing and drilling equipment are increasing, indicating a shift in technology needs within the PCB industry [6][9]

Group 1: Multiple Sclerosis (MS) Market Opportunity - The global market for Multiple Sclerosis (MS) is estimated to have a gap of $20 billion, with BTK inhibitors potentially igniting the MS treatment sector, particularly in the second half of the year [2][3] - The existing market for MS treatments is primarily focused on Relapsing MS (RMS), while BTK inhibitors are expected to address the unmet needs in Progressive MS (PMS) [3][5] - Key companies expected to benefit from this market opportunity include specific listed firms, with significant data readouts anticipated in the second half of 2025 [3][6] Group 2: PCB Technology Revolution - A new process in printed circuit boards (PCBs) is anticipated to trigger a technological revolution, with a notable increase in demand for SLP (Substrate-like PCB) and a rise in requirements for laser equipment [7][8] - SLP technology is expected to closely resemble IC substrates, with significant performance improvements anticipated as CoWoP (Chip-on-Wafer-on-Panel) technology becomes more commercialized [7][8] - Companies with leading positions in SLP technology and those supplying advanced laser writing and drilling equipment are expected to benefit significantly from these developments [7][8]