A few days ago, I set three rules for underlined comments. Now I want to add one more: it is strictly forbidden for public accounts to impersonate big V accounts. They cannot impersonate me or other well-known bloggers.
I understand the difficulty for new bloggers starting from scratch, so I don't interfere with some small accounts trying to gain traffic in the comments section. However, using fake accounts impersonating banned big influencers to attract attention is incredibly low-class. Honesty is fundamental to online interactions between strangers. People who try to take shortcuts through lying and fraud from the start will never succeed. Stop doing that.
Last night, some readers doubted my claim in the comments about running 1000 meters in 3 minutes and 15 seconds in the middle school entrance exam. No, it's true. In 1998, the physical education component of the middle school entrance exam in Linhai City, Taizhou, was worth 30 points. The full score was 3 minutes and 25 seconds for the 1000-meter run, 245cm for the standing long jump, and I don't remember exactly, but I think the shot put had to be thrown about 10 meters.
I got full marks in the 1000 meters and standing long jump, but only 8 points in the shot put, for a total of 28 points. My 1000-meter time was 3 minutes and 15 seconds, and only the track and field athletes in the school were faster than me. I also participated in the long-distance running competitions at the school sports meet many times, always placing 5th to 7th, never reaching the podium, but I was considered a fast runner among ordinary people.
Another thing happened during that middle school entrance exam physical fitness test: some students who were physically weak took sick leave on the day of the exam, and they were all scheduled to take a make-up exam. As a result, they all got 30 points on the make-up exam. I know some of these students' usual physical education level; they struggle to even get 15 points.
That was the first lesson that social interactions and human relationships taught a teenager like me, and you see, I still remember it to this day.
This afternoon I saw the news that the Manus deal has failed. The National Development and Reform Commission has made a decision to prohibit investment in accordance with laws and regulations, and has required the parties involved to withdraw the acquisition.
Some new readers may not be familiar with the background, so I'll give a brief explanation. This company makes AI agents (general intelligent agents), similar to the recently popular Lobster AI, but they started making them earlier.
The company was originally established in Wuhan. There are rumors that local state-owned assets in Wuhan invested some money. I checked Manus's financing records and there is no such thing. However, the company should have enjoyed support from the Wuhan Industrial Park and talent policies in its early days.
This company planned to sell to foreign investors last year, and from May to July 2025, it began relocating to Singapore. All domestic employees were laid off with compensation, all Chinese social media accounts were deleted, and all related business in China was shut down. In short, the goal was to obtain a clean Singaporean identity for the company, making it easier to pass US regulatory scrutiny, as their potential buyer is Meta.
It's said that Zuckerberg finalized the deal in just 10 days, with a total consideration exceeding $2 billion, causing a sensation in the industry at the time. The Manus business had only been operating for a little over a year, yet it was sold for such an astronomical price, making many people envious. Of course, I'm not envious now; I didn't suffer much, but I also didn't end up driving a Land Rover…
Actually, many people in the industry have been discussing this privately today: if Manus had quietly completed the deal with Mate last year without announcing it or promoting it, would this deal have gone through?
There's no standard answer to this hypothetical situation, but I personally think that if we keep a low profile, this might actually happen. $2 billion is a huge sum for a few people, but it's just a drop in the ocean for a country. It's just that this matter has been brought into the public eye, so its weight is different.
At this moment, I can't help but recall the teachings of an elder: "Silence makes money." There's a second part to that saying: "Noise makes trouble." I won't translate it, because a translation would make the article less cool. Those of you in the underlined section, feel free to do it yourselves! 
Today's A-share market performed quite well, with a turnover of 2.6 trillion yuan and a median increase of 0.7%. Individual stocks were initially weak in the morning, but a surge in the afternoon lifted the overall market. This was due to foreign media reports of progress in the previously stalled US-Iran negotiations, with Iran submitting a three-step peace proposal.
It's truly a pity that good news only happens once during A-share trading hours. In the past, we can't say whether the two sides did it on purpose or not. Bad news was always released before the A-share market opened, while good news was always released after the A-share market closed. Several times I wanted to curse them out. They're really scoundrels.
Iran's proposed solution is as follows: First, formally end the war, including both Iran's and Lebanon's, as a gesture of good faith, and the United States should lift the naval blockade; second, discuss a joint management mechanism for the Strait of Hormuz; and third, if the first two steps are implemented, Iran will discuss solutions to the nuclear issue with the United States, including the handling of enriched uranium.
Iran has formally submitted its proposal to the United States. The timing is crucial, as negotiations recently broke down. While many believe further conflict is unlikely, the situation could change if Iran remains defiant and refuses to offer Trump a way out. Iran's proactive proposal has brought a sense of relief to the capital markets, leading to gains in Asian stock markets, gold, and US stock futures in the afternoon. The A-share market also performed well, with most individual stocks rising by around 1.5%.
In reality, Iran's proposal is somewhat biased towards itself, as the first phase almost entirely requires concessions from the US: a ceasefire plus the lifting of the blockade, which tests America's sincerity. In short, the ball is now in Trump's court; it remains to be seen how he will respond. Any statements Trump makes on social media tonight will directly impact the market.
1. Sungrow Power Supply Co., Ltd., a star stock, released its first-quarter results, which were somewhat disappointing. Revenue decreased by 18% year-on-year, net profit excluding non-recurring items decreased by 44%, and gross profit margin dropped from 35% last year to 28%, indicating that the company is struggling. The main reason for the dismal performance was the huge exchange rate losses. Due to the depreciation of the US dollar, overseas revenue converted into RMB resulted in significant losses, and financial expenses changed from a net gain of RMB 0.59 billion in the same period last year to a net expenditure of RMB 3.28 billion.
Sungrow Power Supply Co., Ltd. had always been a leader in the photovoltaic sector, but its performance began to decline in the fourth quarter of last year, and the decline accelerated in the first quarter, making investors in the sector restless.
2. CATL plans to raise $5 billion through a new share placement in Hong Kong. Rumors of this have been circulating for a few days, and the stock price had already fallen once then. Now that the intention is clearer, there's no reason for the market to fall again.
3. WuXi AppTec's revenue increased by 28.8% in the first quarter, and net profit increased by 26% year-on-year. Among them, net profit excluding non-recurring items surged by 83%, which is quite impressive. In summary, the reasons are: strong industry growth + CRDMO closed loop + full order book + landing of large commercial orders such as GLP-1. Hopefully, this will drive a recovery in the entire pharmaceutical sector.
That's all for tonight, launch!
Original Article: View Chinese Version
