Boss's Boss

$Rocket Lab(RKLB.US) Talk about a slap in the face. The hype is fading. 😄 But long-term investing is fine for me though.

$Rocket Lab(RKLB.US) feels like adding more positions is fine. This level is still very sweet. It just depends on how much cash you have on hand.

$Tesla(TSLA.US) I think the one thing that's least likely to go wrong is buying Tesla. Just buy it. No matter what the current price is. It's always a buy.

$Tesla(TSLA.US) bought one lot, the future is here. Although there is a risk of 'sell the news', I choose to believe in Elon.

$XTALPI(02228.HK) On the plane, reading some materials on Moderna, I suddenly feel that maybe Crownpeak's decision to abandon its own pipeline and focus solely on being a platform could be a mistake. This might be a potential concern and point of reflection for the market in its pricing. After all, the business model of a platform approach always lacks certainty. However, interestingly, Crownpeak's role in driving pipeline progress within the ecosystem is positive.

It really puts me in a dilemma.

$XTALPI(02228.HK) It's only when you actually try to sell that you realize the expected liquidity was decent, but in reality, it's quite poor. From this perspective, there may be fewer than 20 stocks in the Hong Kong market that are truly suitable for heavy concentration.

$Tesla(TSLA.US) Does it feel like the addition was too small? Added about 1,200 shares over the past week.

$XTALPI(02228.HK) sold about 500k shares, and from last night, bought back 3,000 shares of $Rocket Lab(RKLB.US) and 600 shares of $Tesla(TSLA.US). Sigh, nothing much to say.

$Rocket Lab(RKLB.US) Decided to buy the little rocket and start selling an equivalent amount of Xtal tomorrow. Given the overall economic situation in 'Big East', I think rebalancing the portfolio is reasonable.

$Rocket Lab(RKLB.US) One question I've been pondering: is it easier for Little Rocket to double, or for XtalPi? $XTALPI(02228.HK)

$XL2CSOPHYNIX(07709.HK) Did a quick day trade before the close. Dinner money is covered. However, I currently judge that 7709 has entered a short-term uptrend, so I'll hold my 2,200 shares and stay put. Will reassess by Friday's close.

$NVIDIA(NVDA.US) Thanks to NVDA. It saved the AI bubble and reinforced it. We can keep blowing it up for a while longer 😄

$Tesla(TSLA.US) bought at the open. Also picked up $Rocket Lab(RKLB.US). The current level feels comfortable. Aiming to hold long-term.

$XL2CSOPHYNIX(07709.HK) Queuing for fill, pretty good. Ups and downs, the money for meals is very stable.

$XTALPI(02228.HK)

Based on the aforementioned in-depth research, we present a clear core conclusion:

The current timing calls for [maintaining positions] (and adding to positions at dips during volatile pullbacks / optimizing portfolio structure), rather than systematically reducing exposure.

The Hong Kong innovative medicine sector has completed industrial clearing and undergone a fundamental qualitative shift, entering a golden window period of advancing from historically extremely low valuations to an earnings-driven upward cycle. The core supporting logic for this judgment is as follows:

1. Valuation is at an absolute bottom; downside risk is locked in (high payoff ratio)

The valuation discount for Hong Kong biopharma assets has reached extreme historical levels. Currently, the price-to-sales ratio (PS-TTM) for Hang Seng Tech and related biotech assets is approximately 2.3x, and the P/E ratio (PE-TTM) is around 20x, both sitting in the bottom 10% of their five-year historical percentiles. Current secondary market prices have already priced in extreme pessimism regarding geopolitical frictions and macro liquidity disturbances. The risk of further significant compression in valuations is very limited, providing a solid margin of safety.

2. Industry fundamentals have crossed the break-even line; endogenous cash-generating capability is established (high certainty)

In contrast to the past phase of relying on external financing to "burn cash and paint pie charts," leading Chinese innovative drug companies have fully entered a "period of earnings realization" supported by actual sales revenue and cash flow:

Alright, AI has found me reasons to hold. I'll close my eyes and ignore XtalPi, shifting my attention back to the great crypto circle $iShares Bitcoin Trust ETF(IBIT.US) $IShares Ethereum Trust ETF(ETHA.US)

$XTALPI(02228.HK) Honestly, I'm running out of patience. What should I do? Feeling a bit frustrated...

$GREEN TEA GROUP(06831.HK) Mark, earnings report released today. Green Tea has the potential to become the No. 1 Chinese restaurant chain brand in China. Fully self-operated, with initial store opening costs recovered in approximately 13 months.

Last night, I had the opportunity to meet the founder of Green Tea, who came to Hong Kong to release the earnings report. He gave me a lesson. This company is quite interesting.

$Alibaba(BABA.US) is out of the water, and caramel popcorn is waving at me! Oh my god! It's Saturday.

$Recursion Pharmaceuticals(RXRX.US) always reminds me of the 'little rocket' from back in the day. It's been consolidating around $3 for a while now—is a reversal finally here?

$XL2CSOPHYNIX(07709.HK) bought back all 500 shares before the close; high probability of a short-term upward consolidation.

$UNITREE(688836.SH) Given this company's R&D investment and its consistent attitude towards R&D, the target price should be 10 RMB

$XTALPI(02228.HK) This trend today is just bullying! It's blatantly bullying! The helplessness of retail investors!

$Rocket Lab(RKLB.US)@周树人的交易员 is swapping XtalPi for 'Little Rocket'. Is now a good time? What's your gut feeling?

$XTALPI(02228.HK) Every lot is 10,000 shares. Just playing around, at 7709 today I didn't do it. tnnd

$XTALPI(02228.HK) seems like the market today is trying to ride the coattails, as $Recursion Pharmaceuticals(RXRX.US) already did last night. Let's wait and see. Overall, looking at the 'big toy' company that just listed on the A-share market yesterday, there's little reason for optimism. I hope the A-shares can stage a big rally soon to rescue consumer spending.

I originally hoped Qingtai could spin a compelling narrative in these areas, but it appears management may be constrained by contracts and unable to do so. Ultimately, their position in the ecosystem is simply too peripheral.

Looking at that 'big toy' company listing on the A-shares yesterday, all I can do is sigh. Capital is finite; once it flows into the 'big toys,' it won't be available for other ventures like Changsheng Bulao.