$Cambricon-U(SH688256)$ Cambricon hits new highs with a limit up, with a market value of over 300 billion yuan. It's not that Cambricon is so impressive, but rather that it encountered the right timing — the bull market for technology stocks in the A-share market.

Even if Cambricon's market value exceeds CATL this year, there’s nothing surprising about it. When the stock market is crazy, what the company can do and how it will develop in the future, even the CEO may not understand as well as retail investors do. Under the grand narrative, every shareholder has more confidence than the company's management, and they are more willing to leverage the future.

This is also why, when major shareholders are selling off to cash out, speculative funds and retail investors still dare to take over.