➀ The CHIPS Act faces potential cuts and modifications under the new administration; ➁ The flow of equipment to reshore may be reversed; ➂ Recent order cuts and fab delays are negative signs; ➃ SMIC comments indicate overcapacity in China; ➄ US legislators question offshore equipment sales to China.

1. The US House of Representatives passed a ban on future sales of DJI drones in the US under the 'Countering CCP Drones Act'. 2. The 'Countering CCP Drones Act' is part of the US 2025 National Defense Authorization Act (FY25 NDAA). 3. Concerns about national security risks and the strengthening of the Chinese economy through DJI's success are driving the legislation. 4. The ban would not affect already purchased DJI drones but would stop future sales in the US. 5. The legislation is popular in Congress but could still be stopped if US residents contact their senators to oppose it.