Recently, I've been thinking about an interesting phenomenon — whenever a new industry wave emerges, it seems that one or two trillion-dollar companies are born.

Looking at past trajectories makes this clear. In the new energy vehicle sector, CATL and BYD emerged; during the semiconductor boom, SMIC rose to prominence; as computing power became a core competitive advantage, Foxconn Industrial Internet started to stand out; further back, during the Baijiu era, Kweichow Moutai was the symbol of that time.

The pattern is very clear: when the era's trend shifts, trillion-dollar enterprises will emerge accordingly.

So, what about now? AI applications and robotics are also major trends. Following the historical logic, trillion-dollar players are bound to appear. But this process certainly won't be smooth sailing — technological iterations, market testing, competitive淘汰, all kinds of challenges lie ahead. One must keep adjusting strategies in line with industry rhythms. Perhaps a few years from now, looking back, we'll be able to see who truly made it through. This is the harsh reality of era selection, but also where opportunities lie.