1. What is the outlook for the energy storage sector?

Some readers mentioned the energy storage sector in their comments.

I also pay attention to this sector regularly. Among the listed companies in China, I am particularly focused on CATL, and among foreign companies, I am interested in some that are not yet listed but have already gone through several rounds of financing.

Overall, the competition in this sector is as fierce as in other sectors, and with my current capabilities, I cannot confidently identify which company has a strong enough advantage to establish a barrier in this sector.

Therefore, even if I were to invest in companies in this sector, I could only choose those with relatively low valuations/market capitalizations but greater potential. Based on this standard, I cannot find any reliable options among the already listed companies, so I have not bought any stocks of listed companies.

2. What will Anker look like in 10 years?

I think about it this way, but I still can't clarify some issues.

Moreover, during the thinking process, I found a comparison:

If you ask me what Bitcoin and Ethereum will be like in 10 years, I can confidently provide an answer and firmly believe that as long as their prices do not become excessively high at any moment in the next 10 years, I can hold onto them without selling.

But if you ask me what Anker will be like in 10 years, I cannot answer that.

What I especially lack confidence in is whether its business model can withstand the test.

For example, if one day a negative news suddenly appears in the market, causing Anker's price to drop by 50%, at that moment, I ask myself:

Can I distinguish whether this negative news is genuinely affecting the fundamentals or is it just a result of market sentiment?

Can I still confidently believe that Anker is fine even if there is detailed data proving that it is purely a market sentiment-driven negative news?

Furthermore, can I avoid panic selling and instead greedily increase my position?

I cannot answer any of these questions at least at this moment.

So thinking this way, I decided not to buy Anker.

It's not that Anker is bad, but rather that I currently do not understand it.

In fact, similar examples can be found in many fields, such as the AI chip sector.

In this field, I am not too confident about what it will look like in 10 years, but I have a bit more certainty about the situation in 5 years.

I believe that in the next 5 years, regardless of how many competitors enter the AI computing chip sector, NVIDIA is likely to maintain its monopolistic position globally. Its market share may decrease, but it will still dominate the overall market.

However, for another type of popular company, such as Cambricon, which is currently the hottest in the A-share market, I do not quite understand what its situation will be like in 5 years, especially how many real users will use the chips it produces to train models or perform inference.

A couple of days ago, I saw a business investment program held by a radio station in 2016. The subject of discussion was Cambricon.

The founder answered, and then several investors asked questions.

One of the investors mentioned: If in 2 years Cambricon's chips can be widely applied in Xiaomi's products, he would bow to the founder.

My understanding of this statement is that it does not mean that Cambricon's chips must be used in Xiaomi products, but rather that they need to be widely used in real products.

From then until now, almost 10 years have passed. Although there have been numerous sales orders announced by Cambricon, there seems to be no further information on where the chips purchased in these orders are actually used, and it is also not easy to find products equipped with its chips on the market.

In this situation, I do not quite understand its free cash flow and business model, and therefore cannot make a buying decision.

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