<p>➀ Taiwan's semiconductor industry is expected to grow by 16%, with TSMC's growth at 25%, driven by Intel orders, advanced process capacity, and AI orders.</p><p>➁ Analysts suggest that the U.S. restrictions on China's mature process may not be as effective as expected, and Taiwan's mature process companies should consider integration for economies of scale.</p><p>➂ TSMC's revenue growth rate is estimated to reach 25% in 2025, but the biggest variable is U.S. policy.</p>