Actually, I started writing Sunday night's report immediately after finishing my shift on Saturday. I had to go to a concert, and the time conflict meant I had to write it ahead of schedule. So this article isn't just a pre-made dish, it's also leftovers, please forgive me.
The U23 match is over, and there were no surprises. Japan easily swept them 4-0. This Japanese U23 team is actually a U21 team, preparing for the next Olympics; the AFC U-23 Championship was just for training. Yet, they still held an overwhelming advantage. To be a little self-deceptive, losing by such a large margin isn't so bad. Second place is still good, equaling China's best result in Asian football. Now that the World Cup has expanded, with 8-9 slots for Asia, the Chinese national team has a chance to qualify if they can make it into the second tier.
The biggest hot topic this weekend was undoubtedly Musk's foray into space photovoltaics and space computing. First, let me address a reader's earlier question about the vacuum environment in space making heat dissipation difficult. After some research, I found the main solution is still radiative cooling, but it requires increased efficiency, the creation of massive heat sinks, and the addition of liquid metal heat conduction circulation. The technical approach is feasible; at least Musk doesn't consider it a fatal flaw.
Musk said at a public forum a few days ago that he aims to achieve full recovery and reuse of Starship this year, thereby reducing the cost of space transportation to $100 per kilogram, which is a very impactful figure.
The Falcon rocket, currently the mainstay of the rocket fleet with nearly 200 launches annually, costs $3,000-$4,000 per kilogram, making it the cheapest in the world. China and Russia also have cost-effective rockets costing $4,000-$6,000 each, with similar costs, but their launch frequency is far inferior to the Falcon. SpaceX launches every two days, with frequent launches and a shared launch capability, something that China and Russia cannot compete with. Therefore, SpaceX has captured the majority of international commercial contracts.
If Starship is successfully fully reused next year, its cost will be only 2.5% of the Falcon's, a revolutionary advancement, equivalent to buying a Rolls-Royce Phantom for the price of a BYD Qin. Only when transportation costs are low enough can launching photovoltaic panels and computing base stations into space truly become a profitable endeavor.
At first, I was a little skeptical about why the cost could be reduced so much. After learning about it, I found that there are two main factors: 1. The Starship's single-trip carrying capacity is 8-9 times that of the Falcon. 2. Previously, the Falcon could only recover the lower half each time, and the upper half, which cost $10 million, was a consumable. The Starship, on the other hand, is designed to be recovered and reused as a whole.
So my knowledge of all sorts of strange things has increased again; I'm almost turning myself into a scientist just by playing the stock market.
There's no way around it. If you want to speculate on commercial aerospace, space photovoltaics, and space computing power, then you should understand the industry situation. These sectors were brought up by Musk. He is now the king of global capital promotion. When he speaks, dozens of stocks in our area hit the daily limit, even those in the photovoltaic sector, which is a worthless mess that can't be plastered on the wall for three or four years.
The most noteworthy sector to watch next week is the photovoltaic sector. Its market capitalization is too large, and there is a heavy historical burden of trapped investors. I worry that even if Jack Ma makes empty promises, he may not be able to drive it forward.
Another major topic over the weekend was the soaring silver price, which broke through the $100 mark, reaching a high of over $103. The speed of this rise is terrifying; it only took nine months to go from $28 to $103. This strong upward trend has squeezed out almost everyone who dared to short; it's too brutal and unreasonable.
You can't set a target price for this kind of stock, because once you have a target price in mind, you can't help but compare it. When it exceeds the target price by a lot, you'll wonder if you can short it. Having this thought is like digging a hole for yourself.
I'm telling you this because I suffered huge losses in rubber futures. The risks of short selling are far beyond what I imagined. I remember my head was spinning from the losses. One experience like that is enough.
Gold prices also rose to 4990 on Friday night, just a hair's breadth away from 5000. Institutions have now generally raised their year-end target price to 5500. It's a bit like dangling a carrot in front of a donkey; once it reaches that price, the target is raised again and again, from 2500 all the way up to 5500.
You can't say that institutions follow the crowd without having their own opinions. For major market trends like this, which are at the level of an annual trend, you should guide the market according to the trend and take the cooling of sentiment as an important turning point, rather than looking at fundamentals and calculating valuations. Doing so will only make you miss out on the market trend early on.
I've said this many times: any market that can be calculated or estimated is a bear market. We're in a bull market now, so pricing should be based on sentiment.
This weekend, a major scandal broke out in the liquor industry, with Yanghe Brewery as the main player.
The reason for this was that Yanghe Brewery announced in January 2024 that it would allocate no less than 70% of its net profit to dividends over the next three years, with an annual dividend amount of no less than 7 billion yuan. Yanghe made this statement because its profit in 2023 was exactly 10 billion yuan, representing a 6.8% increase.
Management probably thought the company would grow steadily over the next few years, with profits increasing, which is why they made the 70% and 7 billion yuan dividend commitments. However, in 2024, profits declined by 33% to only 6.6 billion yuan. At this point, maintaining the 7 billion yuan dividend commitment was no longer enough with net profit alone, and they had to take money from the books to cover a 400 million yuan shortfall.
The situation was even worse in 2025, with performance declining by 62-68% and profits expected to be only 3.17-3.79 billion yuan. At this point, maintaining the 7 billion yuan dividend commitment would drain the company's resources. Management could not afford it and had to break their promise, abandoning the 7 billion yuan dividend guarantee and instead distributing 100% of the profits. In short, they would distribute all the profits.
The announcement sparked strong dissatisfaction among Yanghe shareholders. Some felt they had bought shares because of the high dividends, but now the promised dividends were gone, the company's performance had dropped by 60%, and the stock price was in jeopardy; they felt they had been cheated.
The Yanghe incident will further disrupt the already chaotic liquor sector, as Yanghe's situation may also affect other liquor companies. It serves as a warning to investors that high dividends cannot be calculated statically. Once a company's profitability deteriorates, the dividend payout ratio will fall, and the PE ratio will soar. Your so-called "stable happiness" also contains unexpected risks.
That's all you need to know this weekend. Finally, let me introduce Pinduoduo's recent Chinese New Year shopping festival. The event is still in the 10 billion yuan subsidy zone that you are all very familiar with. You have been looking at this here for six or seven years. Many people went from being skeptical at first to finding it really appealing. You'll know once you buy it.
The 10 Billion Yuan Subsidy New Year Shopping Festival is currently in full swing, offering a wide variety of popular items, New Year gift boxes, alcoholic beverages, fresh produce, snacks, and more, all at incredibly affordable prices. It's definitely worth checking out and stocking up for the upcoming Spring Festival holiday.
Click to go directly to the [Pinduoduo Food New Year Goods Fair] 
Besides announcing the event through the loudspeaker, I also plan to act as a sales guide and recommend a few products that I think are worth buying:
First up is the ever-popular Apple phone promotion. My WeChat official account backend shows that 47% of my readers use iPhones , so what more can I say? Let me showcase this year's hottest items for the New Year's shopping festival:
iPhone 17 official website price : 5999 yuan → Big promotion price: starting from 4999 yuan, up to 1000 yuan off !
iPhone 17 Pro official price : 8999 yuan → Promotional price: starting from 7899 yuan, up to 1100 yuan off !
iPhone 17 Pro Max, originally priced at 9999 yuan on the official website , is now on sale for 8899 yuan, a discount of up to 1100 yuan !
⏰Reminder: You can click the "Member" activity page in the upper right corner of the 10 Billion Subsidy channel. In the "Limited-Time Coupon Grab Activity" section, you can use your points to redeem " iPhone 17 Series New Product Points Coupons," with a maximum redemption of 100 yuan!
Long press to scan the QR code to go directly to the [Apple Special Session].
Besides iPhones, there's also the Macbook Air M2 13.6- inch, starting at a promotional price of 4399 yuan. I switched to an Apple laptop three years ago for investment purposes, and after using it for three years, I've noticed that Apple computers degrade in performance extremely slowly. Even after three years of intensive use, the performance still feels like 85-90% of what it was when I first bought it . Believe me, I'm not exaggerating. From now on, I'll only buy Apple laptops for work.
List of similar must-have items, scan the code to shop directly.
This might be because my users are mainly adult men. Previous data shows that another product you particularly like to buy is baijiu (Chinese liquor), which is also recommended during Pinduoduo's 10 Billion Yuan Subsidy New Year Shopping Festival.
A 1000ml bottle of 53- degree Feitian Moutai is on sale starting at 2899 yuan. If you have a large group during the Spring Festival, 500ml won't be enough, so 1000ml is a great deal.
In addition, there are authentic Liaoning Dandong 99 Red Beauty strawberries, with promotional prices starting from 45.2 yuan;
Black Pearl Strawberries, 1.3 jin net weight, the Hermes of strawberries, perfect as a gift for friends, starting at 98 yuan during the promotion ;
Three Squirrels Truffle Chocolate Mixed Flavors 500g Box, Special Offer Price Starting from 26.81 Yuan.
My wife bought these for our family. The kids love strawberries, and the feedback has been great. I recommend them; you won't be disappointed.
List of similar must-have items, click to shop directly. 
One-third of the readers are women, so I asked my wife to recommend some beauty products from their area.
Hermes Monsieur Li's Garden Eau de Toilette 100ml is now on sale starting from 345 yuan .
CPB Essence Water 170ml (Refreshing Type) – Sale Price from 264 RMB
FANCL Cleansing Oil 120ml is on sale starting from 62.8 yuan .
List of similar must-have items, click to shop directly. 
Here's a money-saving tip:
Open the Pinduoduo APP homepage and go directly to the 10 Billion Yuan Subsidy Zone. Be sure to pay attention to the "Double Subsidy", "Consumer Coupons", and "Exclusive Subsidy" activities at the top. Also, remember to click on the "10 Billion Yuan Subsidy Member" in the upper right corner and claim all the coupons you can. The price will be even more attractive after combining the 10 Billion Yuan Subsidy with coupons!
For example, the iPhone 17 , after applying member coupons, is up to 1,000 yuan cheaper than the official website price, and still enjoys the same genuine product guarantee and nationwide warranty. Just buy it without hesitation! (This promotion is continuously being optimized; please refer to the Pinduoduo APP for the most accurate product range and prices .)
Readers often ask me in the comments when there will be promotions for phones they want to buy, and here's the opportunity!
Click to go directly to the Pinduoduo 10 Billion Yuan Subsidy Main Venue.
It's almost Chinese New Year, and there are many things everyone wants to buy. I won't list them all; just go to the main venue of the 10 Billion Yuan Subsidy program and search for what you want.
Click to read the original article and go directly to the main venue for the 10 billion yuan subsidy event. You can also search for more subsidized products.
Original Article: View Chinese Version
