$XIAOMI-W(01810.HK) As someone who has suffered a major setback with Xiaomi, I fully understand the current situation. Xiaomi is a controversial company aspiring to be great, still on its journey. Various short positions, public opinion, and environmental factors interact with each other; even a slight breeze causes it to sway. Looking back, the heavy nature of its business model determined the difficulty of the process, but fortunately, Xiaomi has been continuously improving this issue. From a higher-level perspective, it is hard to bet on a singularity occurring again, so I prefer to accept verified giants, especially when they are discounted. This is also the core reason for accepting Xiaomi's losses in favor of Tencent. Accepting losses is difficult; most people would choose to hold on stubbornly, but sometimes you need to think about whether you would make the same choice if it happened again. This is not bearish or bullish; it is merely from an asset allocation perspective, letting rationality triumph over emotion. It does not constitute any advice. Over time, I increasingly feel that it is very difficult for individuals to beat the index.