Every time memory prices surge, it’s always accompanied by a bull market: the A-shares wave in '90-'95, the dot-com bubble in 2000, the smartphone boom in '06-'08, the mobile internet era in '13-'18, and now the AI demand. These funds flow into the tech market, driving the development of more advanced memory chips—which leads to a drop in memory unit costs: in '99, mainstream PCs had 32MB of memory priced at ¥500, but by 2001, mainstream PCs upgraded to 256MB of memory for just ¥299. This is the result of a bear market crash.