$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.