$XTALPI(02228.HK) It's been almost a year since I started holding shares last year, moving from a light position to a heavy one, and from profit to loss. The reasons for trading innovative drugs initially were several: Innovative drugs and technology are, in my view, among the few industries with future growth potential. Over the past few years, as patents of major pharmaceutical companies are nearing expiration, they have been continuously collaborating with domestic pharma companies on Business Development (BD). In my opinion, this is fundamentally similar to AI companies continuously increasing their hardware spending. AI has significantly accelerated the speed of new drug R&D, and innovative drugs are one of the important application endpoints for AI in the future; this has always been my belief. However, I made many mistakes in trading. First, Cristal is not among the top tier of Hong Kong pharmaceutical stocks. This is evident from the fact that starting from October 2025, when the healthcare sector peaked and individual stocks began to correct, Cristal rose less than the sector but fell more than the sector. Second, buying more as the price drops during a sector correction is a very bad practice, as it can easily break your mindset. It would be better to wait until a true reversal trend emerges before deploying capital. Too many people fall short on the eve of dawn, never seeing tomorrow's sun. Perhaps I should say that I wasn't fully prepared for this bull market. After experiencing the sharp drop, I have already seen similarities to the long-term bull market in the US stock market. In a bull market, you believe because you see it, but how many people truly believe, and how many waver? This year alone is enough to change many people's lives. Only by learning to reflect and making changes can one survive and thrive in this market.