$XIAOMI-W(01810.HK) At the time, I had a good chat with a buddy in the department about Xiaomi, and we weren't very optimistic about it. So, I cut my losses and sold out at a 1% loss.

Later, it dropped to 35, and I thought about getting in again to take a gamble. But after thinking it over carefully at night, both of Xiaomi's main legs (businesses) are currently somewhat constrained and very crowded. In the smartphone business, it's coinciding with a major memory price hike cycle. As for the car business, I won't go into detail; those who know, know.

Sigh, there doesn't seem to be any major positive catalyst. The so-called large language models already have a latecomer disadvantage. Even if they succeed, so what? Open AI isn't making big money yet, so how could Xiaomi's?