A couple of points before the market opens, regarding applications and domestic computing power:

1. The overall big beta for AI applications in the A-shares market should be gone (note that the premise is A-shares). Currently, the mainstream view in North America is that the opportunities for agents belong to the giants, as only the giants can invest in computing power. The opportunities for small companies in the future may resemble the MCNs around Douyin that focus on high-quality content and creativity. If you believe that software companies in the A-shares market have opportunities, it also means that those small software outsourcing companies in the office building next door will experience a qualitative change (which is obviously impossible).

2. The H20 matter was initially thought to be insignificant, but the more we look at it, the more it seems not to be quickly resolvable; let's wait for a turning point. Or when can domestic computing power break through? However, this big beta for domestic computing power should eventually come. In the short term, we still need to wait.

The clear opportunities are still in the North American chain, with the main focus on optical modules and PCBs. Besides these, there have been quite a few new directions and breakthroughs in sectors recently.