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Pictured is Trump

As the war in Iran continues, Trump has now mentioned to Congress that he may need authorization of $1.5 trillion in 2027. In other words, his budget will be raised very high. Obviously this money is intended to be used for military purposes, which is more than half of what it was in 2026.

Behind this, he actually needs more money. There are now signs that the United States now wants to obtain US$5 trillion in funds from its 22 allies to fight this war against Iran. Or if it's less, it can be a truce.

First of all, from Trump's perspective, he may have already considered this matter. Because this US military operation against Iran was actually supported by the Gulf countries. These countries have now been attacked by Iran, so these rich oil-producing countries have nothing else to support the US military except money.

Because if the army is sent to participate in the war, it may be like Saudi Arabia going to fight the Houthis armed forces – causing chaos.

So, they have plenty of money. So maybe the United States wants to make a huge profit from this. You see, turning war into a business is a masterpiece of Trump.

But behind this incident, we say that it exposed a huge problem in the United States: it is fighting another unprepared war. What does unprepared warfare mean? The U.S. military has actually tried its best to avoid large-scale wars during the years when Trump was in power, including his first term.

Pictured: Maduro

In other words, the US military is no longer prepared for a large-scale war. So what he basically fights is this kind of surgical war and deterrent war. Well, the US military has fought well in this kind of war in recent times, including the first attack on Iran and the current attack on Iran, including the capture of Maduro in Venezuela. This shows that the US military is still very good at special operations.

But special operations means you are good at using a dagger. This is not the case now. Now, for example, the war with Iran is because Iran is also a middle power, so when it competes with the United States, everyone will think of – and will flash through their minds – the war between Russia and Ukraine. Although you are strong, your opponent is not defenseless. So when you go deep to fight him, you may also fall into the quagmire. And this quagmire refers to a large-scale war.

I think the reason why the US military is making so many funding requests is because of two things: The first thing is that it is insufficiently prepared. And if you start preparing now, it's a little too late. For example, aircraft carriers have not been built recently. The presidents of the United States want to weaken their fleets one by one, otherwise they will spend too much money.

Pictured: U.S. Special Forces

Now that you suddenly need a large fleet to help you fight this battle, you are a little overwhelmed. The same is true for the Army. Many units are actually empty frames. This is the first problem: the US military may be a combat unit that requires long-term construction before it can resume large-scale wars. Trump is actually responsible for this matter. As a president, there are problems with how you build a country's military and the direction you take. You didn't think about the possibility of another massive war.

The second problem is that when the US military conducts military operations now, its military expenditures will be very high. This high level is beyond normal conditions. Now, whether it is 1.5 trillion US dollars or 5 trillion US dollars, it is enough for the US military to fight another World War, and it may even exceed it. So why does it cost so much?

The US military is like a war machine that needs lubricating oil, and more and more of this lubricating oil is needed. In particular, it is a so-called high-tech weapon. Although it has advantages, there are too many tricks in it. Because we know that sometimes running a program does not require so much money, so are chips really that expensive?

But the United States has developed a habit of asking for money to do anything. No matter what you do, you need money. Not only is it demanding money for things outside, it is also demanding money for its own affairs. When this cost is too high, a war may become a huge problem for it.

It is actually a military principle not to fight an unprepared battle. At the same time, the high-cost war of the US military is something that is very difficult for any country, including the United States itself, to bear. Under the attack of these two double-edged swords, if the US military can still win in Iran, it means that it can resist very well.

Dürer, Rembrandt, Caravaggio, Vermeer, Raphael, Botticelli, Rubens, Bruegel… Global audiences can "touch" more than 1,100 authentic works of masters online for free.

The Paper has learned that the German Prussian Cultural Heritage Foundation and Google recently launched the "Canvas Legends" project, which will digitize the Gemäldegalerie's collection of more than 1,100 European classical masters from the 13th to the 18th century with gigapixel ultra-high resolution, and make them available to the world for free through the exclusive theme page of the Gemäldegalerie and the Google Arts and Culture App.

You can see that the painting is full of fine "craquelure"

The more than 1,100 works launched in high definition this time cover top European artists from the 13th to the 18th century, with the works of Dürer, Rembrandt, Caravaggio, Vermeer, Raphael, Botticelli, Rubens, Bruegel, etc. as the core highlights. They are the most representative classical paintings in art history. The project simultaneously launched an AI interactive experiment "Mice in the Museum" based on the Gemini model, interpreting works with interesting audio dialogues of virtual mice, and launched more than 50 online special exhibitions.

It is undoubtedly a "welfare" for researchers, as they can obtain high-precision images for professional research such as identification, techniques, restoration, and iconography. According to the official report of the museum, Marion Ackermann, President of the Prussian Cultural Heritage Foundation, said: "For us, digitalization is not an end in itself, but a democratic tool. It allows us to open our doors in a virtual format to all kinds of groups: experts, art lovers, younger generations, and people with limited mobility or no way to travel – in the end, our cultural resources are accessible to everyone with an Internet connection. This cooperation also shows how technology can help redefine the way of cultural participation."

Hans Holbein the Younger, The Merchant Georg Gisze (detail), 1532

"Businessman Georg Yoshizawa" hand close-up

This is a gigapixel ultra-high-definition partial close-up of the masterpiece "The Merchant Georg Giese" by the Renaissance portrait master Hans Holbein the Younger, focusing on the character's eye area. The painting is covered with fine "craquelure", which is a typical characteristic of the natural aging of the 500-year-old oil paint layer. The picture clearly demonstrates Holbein's signature fine realism techniques: the highlights of the pupils, the layers of the iris, the texture of the skin around the eyes, and the distinct roots of the eyelashes are all accurately restored, embodying the "detail-mad" pursuit of realism of the Northern Renaissance.

"The Merchant Georg Giese" depicts a large number of artifacts

The work was created in 1532 and is based on oak board, which was the standard material for Nordic oil paintings in the 16th century. It not only accurately depicts the characters' faces, but also fully presents the identity, professional characteristics and spirit of the times of the Nordic multinational merchants in the 16th century through the large number of artifact details on the desktop and background. For example, the scales imply business integrity and accounting; the carnations on the table not only imply worldly emotions, but also metaphor the perishability of life; the letters, seals and handwritten notes hanging in the background restore the operation scene of European business networks in the 16th century. It not only strengthens the professional attributes of the characters, but also has precious historical document value. The entire work has calm light, precise details, and orderly arrangement of utensils. It is an important work for studying commercial culture and artistic concepts during the Renaissance.

Caravaggio, Cupid as Victor (detail), 1601/1602

This is a partial close-up of the masterpiece "Victorious Cupid" by Italian Baroque master Caravaggio. The staff is placed in an inconspicuous corner of the picture. After zooming in, you can clearly see the complete notation elements including notes, clefs, bar lines, etc. It is a direct reflection of Caravaggio's realistic techniques – he accurately restored the music notation form of the early 17th century, and you can even see the direction of the brushstrokes clearly.

Caravaggio created with oil paintings on canvas. The paint stacking and brushstroke traces in the painting are clearly discernible in high definition, which embodies his signature chiaroscuro method – creating a sense of volume through strong light and shadow. This close-up can also see how light and shadow shape the score area.

Caravaggio's "Triumph of Cupid", detail

Caravaggio was the pioneer of Italian Baroque painting in the 17th century. "Victorious Love" is his classic mythological theme work. In the painting, Cupid appears as a victor, crushing objects symbolizing worldly power, art, and science under his feet, expressing the theme of "love conquers all". Musical score is one of the symbolic elements of "art" in the painting.

Dürer's "Portrait of Hieronymus Holz-Schucher"

"Portrait of Hieronymus Holzschücher" is a half-length portrait. The complete picture includes the character's head, clothing, hands, etc. This close-up only cuts out the lips and beard area. It can be seen that through different shades of white and gray strokes, the fluffiness, layering and gloss of the beard and hair are accurately restored, and hairs of different directions and thicknesses can even be distinguished. The skin texture of the lips, the gradation of the lip color, and the details of the lip lines are all accurately depicted. It embodies his core technique of "shaping with lines".

Dürer's "Portrait of Hieronymus Holz-Schucher"

"Portrait of Hieronymus Holzschücher" is precious because, on the one hand, it is a classic work by Dürer in his later years, and on the other hand, it accurately restores the image of the Nordic elite in the 16th century. It is an important object for studying German society, clothing, and portrait art during the Renaissance.

Jan Vermeer, Young Lady with a Pearl Necklace (detail), 1663/1665

This is a gigapixel ultra-high-definition partial close-up of the masterpiece "Young Woman with a Pearl Necklace" by Dutch Golden Age painting master Jan Vermeer. The picture perfectly presents Vermeer's core technique of "shaping with light". Under high definition, you can clearly see the delicate direction of the brushstrokes. The blending of the skin, the thick application of the bow, and the highlight of the pearls all reflect his classic technique of "combination of thin application and thick application".

Vermeer is famous for his interior genre paintings and his extreme use of light and shadow. "Young Woman with a Pearl Necklace" is his classic masterpiece, which depicts the daily moments of a young Dutch woman arranging her pearl necklace in front of the mirror.

"Young Woman with Pearl Necklace"

Judging from the layout of the entire picture, the skin on the side face of the character is delicately layered under soft light and shadow, and the contours of the nose, lip shape, and eye shape are precise and soft, reflecting Vermeer's ultimate control of human body structure and light and shadow; the red bow in the hair is stacked with thick pigments to create three-dimensional wrinkles and luster. Under ultra-high definition, the luster levels of pearls and the details of the necklace can be clearly seen.

Attract young people with AI audio interaction

This digitization project uses Google Art Camera (Google Art Camera) to complete the full-scale shooting. Its acquisition principle and process are highly professional: first, place the device directly in front of the painting and calibrate the frame boundary. Relying on laser ranging, sonar positioning and high-precision mechanical pan/tilt, the painting is automatically shot at millimeter-level, area-by-frame high-resolution, and hundreds to thousands of local close-up images are obtained. The cloud server then completes seamless image splicing, color calibration and distortion correction, ultimately generating a single lossless high-definition digital image with over 1 billion pixels, which can clearly present details that are difficult to discern with the naked eye such as brush strokes, pigment textures, and repair marks. The standard acquisition time for a 1 square meter painting is about 30 minutes, which is far superior to traditional professional shooting modes.

Pieter Bruegel (der Ältere)'s "Netherlands Proverbs"

According to the official introduction of the museum, the AI ​​audio interactive experiment "Mice in the Museum" was also launched this time. With the Gemini 2.5 Flash multi-modal model as the core technology, by analyzing the image content and metadata of the paintings, exclusive scripts are generated in real time and converted into voice dialogues. The fictional characters—the lively mice August and Pearl—interpret the background and artistic connotation of the paintings from an interesting perspective. Each time they are used, new content is generated, making serious art appreciation easy and understandable.

Web page screenshot

"This kind of humorous AI narrative breaks the barrier between classical art and the public, and can especially attract young people to actively explore art history." Amit Sood, founder and senior director of Google Arts and Culture, said that the role consistency and real-time response capabilities of the Gemini model make the interactive experience more immersive. This is also an important practice of AI technology in the field of art science.

Currently, the "Canvas Legend" project is open to the world for free. No registration is required, so you can immersively browse ultra-high-definition paintings, participate in AI interactive experiments, and follow digital tours to explore the collection.

The Gemäldegalerie is one of the core branches of the Staatliche Museen zu Berlin system. It is a core professional museum specializing in collecting and displaying European classical master oil paintings from the 13th to the 18th century. It is also the source of the collection of more than 1,100 high-definition works for this project. Since the launch of the Google Art Project in 2011, the Berlin Pinakothek has joined as one of the first cooperative institutions. Since then, it has participated in many international digital exhibition projects such as "Undiscovered Masterpieces" and "Meeting Vermeer".

According to Russian media reports on April 9, Pakistani Defense Minister Asif condemned all types of aggression launched by Israel in the Middle East on Thursday, saying that what Israel did in the region was a "massacre." Despite the many diplomatic efforts made by all parties for peace, the massacre has not stopped.

Asif condemned through his X (formerly Twitter) account: "Israel is evil and a scourge to humanity. While peace negotiations in Islamabad are advancing, Lebanon is suffering cold-blooded genocide."

He added: "Innocent people are being massacred by Israel: first in Gaza, then in Iran, and now in Lebanon; this massacre continues with impunity and no one steps in to stop it."

Asif issued a scathing condemnation of Israel's blatant violation of regional peace efforts, concluding: "I hope and pray that those who established this brutal regime in Palestine with the intention of driving the Jews out of Europe will be burned in hell."

Netanyahu's response

In response to Asif's condemnation of Israel, Israeli Prime Minister Netanyahu responded.

Netanyahu wrote via

(Original title: Ministro pakistaní explica por qué Israel es "una maldición para la humanidad")

Less than a year after its listing, two shareholders of Green Tea Group plan to liquidate and exit.

On April 9, casual Chinese restaurant operator Green Tea Group (6831.HK) announced that the company's board of directors received notice from the company's major shareholder Partners Group Gourmet House Limited (hereinafter referred to as "Partners Gourmet"). On April 8, Partners Gourmet announced three share sale arrangements. The total number of shares involved in the placement and sale is 106 million shares, equivalent to approximately 15.96% of the total number of issued shares (excluding treasury shares) on the announcement date.

As of the close of trading on April 9, the share price of Green Tea Group (6831.HK) was at HK$7.92 per share, down 10.71%.

Specifically, Partners Gourmet entered into a block transaction agreement with J.P. Morgan Securities (Asia Pacific) Co., Ltd. and GF Securities (Hong Kong) Brokerage Co., Ltd. (hereinafter referred to as the "Placement Agent"). The placement agent agreed to act as Partners Gourmet's agent and urge placees to purchase a total of 60.044 million ordinary shares of the company on a best-effort basis; Partners Gourmet agreed to sell 23.0484 million shares it held to the investment fund; Partners Gourmet has agreed to enter into a purchase and sale agreement with a strategic corporate buyer to sell certain shares held by it for an aggregate proceeds of up to US$30 million.

The announcement stated that the placement is expected to be completed on April 13, 2026. Completion of the Disposal is subject to regulatory approvals. Upon completion of the placing and sale, Partners Gourmet will no longer hold any shares and will no longer be a shareholder of the Company.

The announcement also pointed out that the sale of shares by Partners Gourmet will not have a significant impact on the group's business operations and financial status. Shareholders and potential investors of the Company should note that the placing and sale are subject to the fulfillment of conditions precedent before completion. Accordingly, the Placing and Disposal may or may not proceed.

Green Tea Group will be listed on the Hong Kong Stock Exchange in May 2025. According to the prospectus, Partners Gourmet is a strategic investor in Green Tea Group and is controlled by Partners Group Holding AG, a global private market investment management company listed on the Swiss Stock Exchange (stock code: PGHN). As of December 31, 2024, its assets under management were approximately US$152 billion, and its investment areas include private equity, private debt, private real estate and private infrastructure. In addition to its strategic investment in Green Tea Group, Partners Group has also invested in a chain retailer in China that provides one-stop solutions for baby products, a service provider that designs, manufactures and installs retail display devices, and a cross-border logistics service provider.

The prospectus shows that Green Tea Group got to know Partners Group in 2015 through the professional network introduction of Partners Group’s private equity investment team. After evaluating the catering industry in mainland China in 2015 and holding multiple meetings with the directors of Green Tea Group over the past two years, Partners Gourmet decided to invest in Green Tea Group.

In May 2017, based on strategic investment, Green Tea Group issued and allotted 2,688 shares and 445 shares of Series A preference shares to Time Sonic and Partners Gourmet respectively, at a consideration of US$2,688 and US$10.0367 million respectively. On the same day, Time Sonic transferred 2,688 Series A preferred shares to Partners Gourmet for a consideration of US$60.5945 million. After the completion of the strategic investment, Time Sonic and Partners Gourmet held a total of 7,312 ordinary shares and 3,133 Series A preferred shares, accounting for approximately 70.0% and 30.0% of Green Tea Group's equity respectively. After the completion of the restructuring and before the IPO, Partners Gourmet's stake in Green Tea Group dropped to 28.2%.

I have seen a joke before. In the minds of the people of the Kingdom of Light, the largest city in the world is Dandong, and the second largest city is Pyongyang. Why is there such a perception?

Because Dandong and Sinuiju are only separated by a river, they are big cities that the people of the Kingdom of Light can directly see with their naked eyes. Especially at night, the sight of bright lights and tall buildings in Dandong really shocked the people of the Kingdom of Light.

Many people don’t know the following rankings. In addition to these two big cities, the top ten are Moscow, Beijing, Hamhung, Shanghai, Kaesong, Tehran, Havana and Sinuiju from third to tenth.

Among them, Hamhung, Kaesong, and Sinuiju are naturally the big cities in the Kingdom of Light. Moscow's status is so high mainly because of the afterglow left by the Soviet Union. Tehran is the capital of Iran, and Havana is the capital of Cuba. They are both brotherly units, so their status is naturally indistinguishable.

Of course, this can only be viewed as a joke, because you can never conduct a questionnaire survey on people in the Kingdom of Light. This can't help but remind people of the news about Iran in the past two days.

Iranian news anchor shouted excitedly: The United States has regarded Iran as a superpower

This time, the negotiations between the United States, Israel and Iran are still in confusion. Of course, Iran has unilaterally declared to the outside world that it has achieved a comprehensive victory.

In other words, they claim that a world-class superpower like the United States has bowed its head to Iran and admitted its mistake. Some compensation may even be given.

Therefore, these media in Iran can finally enthusiastically promote the greatness of the motherland. Only then did the above reports come into being.

In fact, from the perspective of our onlookers, Iran has no way to have anything to do with a superpower. In terms of population, more than 90 million people are not that large in the world, and in terms of area, it is only 1.64 million square kilometers. In terms of science and technology, it is basically what is left over from the United States and the Soviet Union, and there is no scientific and technological innovation that is famous in the world. In terms of military affairs, it is basically the foundation left over from the period of assistance between the United States and the Soviet Union. In any case, such a country cannot be called a superpower.

So why can this statement be widely spread in the media in Iran? Without a certain mass base, there is no market for this statement.

In other words, there are indeed a considerable number of people in Iran who believe that their motherland is a superpower and one of the two poles of the world that can keep pace with the United States.

So why do these people have such cognitive biases? In fact, it is mainly due to the publicity effect. It is the Iranian authorities' round-the-clock propaganda and education that have given the Iranian people relevant awareness. Tell a lie a hundred times and it becomes the truth.

Iran does have a very glorious history, and it has performed well in all aspects in modern times. For example, Iran has a relatively complete industrial system. This was when the relationship between the United States and Iran was good, and the foundation was laid during the Pahlavi dynasty. Later, Iran's relations with China and the Soviet Union gradually improved, and naturally it received relevant technical support from China and the Soviet Union.

In addition, Iran has a lot of oil and natural gas, which is why they can call themselves a superpower. In fact, what makes Iranians most proud is mainly because of their faith.

After 1979, the slogan of the priest group was that they did not want the East or the West. They wanted to become the third big brother in the world after the United States and the Soviet Union. Later, when the Soviet Union disappeared, wouldn't they become the only big brother who could compete with the United States?

In fact, this is what they did. With the wealth left by their predecessors and the income from oil and natural gas, Iran after 1979 not only established the Revolutionary Guards, but also used the Revolutionary Guards to form the Arc of Resistance. It has the Assad Group in Syria, the Houthi armed forces in Yemen, the Iraqi militia, the southern Lebanese armed forces, and Hamas, and has become one of the overlords in the Middle East.

Turks also often call themselves a world-class power

When talking about the situation in Iran, we have to mention Turkey. Türkiye is also a country that is obsessed with self-confidence. Especially after Egypt's Sultan succeeded to the throne, he conveyed an idea to his people all the time. They are a world-class superpower, definitely not just a power in the Middle East.

Of course, because Türkiye has followed the path of secularization for too long and information is too smooth, the people just laughed it off. Only a handful of people will believe this propaganda.

After all, this kind of propaganda is not a bad thing for the nation. It can at least enhance national self-confidence and strengthen national cohesion. Why not?

But not only do they say so, they actually do it. No matter which big country it is, Türkiye dares to offend it. For example, they bombed Big Goose's fighter jets, and also openly supported Azerbaijan in bullying Big Goose's ally Armenia on the Nagorno-Karabakh issue. In addition, they openly rebelled against Lao America and purchased Big Goose’s S-400 air defense system. At the same time, they openly attacked Kurdish armed forces supported by Lao America in northern Syria.

They are also merciless towards Dongda. Whether they are asking for high tolls for aircraft carriers to transit, imposing high tariffs on cars imported from Dongda, or even restricting market access, these are undoubtedly signs that they do not take Dongda seriously.

In the eyes of Turks, Ottoman Türkiye more than 100 years ago was one of the serious world hegemons. Now the entire Middle East, except Iran, is the territory of Ottoman Türkiye, so they have the capital to be proud.

So to this day, they are still making two big moves.

If any of these two moves is successful, Türkiye will be able to reach a new level in the future. Now they are actually just a powerful country in the Middle East, but it is not ruled out that they may become a world-class power in the future.

The glory of our ancestors cannot be eaten as food

Only by recognizing reality can we be down to earth. If you aim too high, you will often fall into the trap of self-satisfaction. In fact, this is the same as being a human being. No matter how capable you are of accomplishing great things, depending on how high this mountain is, you will most likely fall miserably.

Of course, it is a good thing to have goals. It is normal to look back at the great achievements of our ancestors and want to recreate the glory. But you always inflate yourself so much that when the tide goes out, you will know who is not wearing pants.

Iran is indeed a powerful country in the Middle East, so over the years, they have been able to fight back and forth with Israel, another small overlord in the Middle East, and it is inextricable.

But if they really drag the Americans into the melee, they will actually expose their secrets. The size of the United States is indeed not something Iran can bear. Therefore, at the beginning of the war, Iran's top leaders were almost dominated by the other side. Even if they are shouting victory now, in fact, as a bystander, anyone can see that this is a funeral.

There is no way, there was too much bragging in the past, and now even if the top management is blamed, if you want to maintain the dignity of the ruling class, you must continue to brag: a superpower is a superpower, especially after this war, it is well deserved! Because there is no other country on earth that can defeat the United States and Israel at the same time.

If the domestic fundamentals knew the truth, wouldn't they collapse? To sum it up in one sentence: The war can be lost, but public opinion must win. With public opinion in hand, I have the world.

On April 9, the market fluctuated and adjusted throughout the day, with the Shanghai Stock Exchange Index and the ChiNext Index both falling by more than 0.5%. In terms of sectors, the direction of computing power hardware has been active repeatedly, the concept of liquid-cooled servers has fluctuated and risen, and the concept of semiconductor equipment has been active. On the downside, pharmaceutical business concepts have collectively adjusted. More than 4,200 stocks across the market fell. The turnover of Shanghai and Shenzhen stock markets was 2.13 trillion yuan, a decrease of 300.4 billion yuan from the previous trading day.

Let’s take a look at today’s performance of public funds.

(Note: List 1 and List 2 only select three types of products: flexible allocation, partial stock hybrid and ordinary stock products as representatives of active funds and included in the statistics; the debt-based related lists include various types of active and passive bond funds)

1. Single-day gain list

2. Single-day decline list

3. Single-day bond base price increase and decrease list

4. News worthy of attention in the evening

[He Lifeng met with Dalio, founder of Bridgewater Associates]

According to CCTV news, He Lifeng, member of the Political Bureau of the CPC Central Committee and director of the Central Finance Office, met with Dalio, founder of Bridgewater Associates in the United States, in Beijing on the 9th. He Lifeng said that China's economy has made a good start this year. During the "15th Five-Year Plan" period, China will continue to expand high-level opening up to the outside world, welcome investors from all over the world to invest in China, and share high-quality development opportunities. Healthy and stable Sino-US economic and trade relations are in the fundamental interests of both countries. It is hoped that the U.S. business community will continue to play an active role in maintaining and promoting Sino-US economic and trade relations. Dalio said that the strong resilience and stability of China's economy in the current international environment are impressive, and he is optimistic about China's economic development prospects.

daily economic news

On April 9, WTI crude oil futures hit $100 per barrel, rising by more than 5% during the day. Brent crude oil rose more than 3% to US$98.429 per barrel. At the same time, London silver rose by more than 1% to US$74.549 per ounce; London gold rose by 0.86% to US$4754.680 per ounce.

On the news, according to Xinhua News Agency, senior Iranian sources said that during the ceasefire period, Iran will allow no more than 15 ships to pass through the Strait of Hormuz every day. The source also said Iran's demands include the United States unfreezing Iranian assets within two weeks.

In addition, CCTV Finance reported that after a small number of ships passed through the Strait of Hormuz on April 8, Israel attacked Lebanon that day, and the situation in the Strait of Hormuz suddenly became tense. Iranian media said that the Strait of Hormuz is now completely closed and some tankers have been forced to return. According to relevant data, about 100-120 commercial ships passed through every day before the conflict, and about 72 ships passed through during the week from March 30 to April 5. It was the busiest week since the conflict, but it was still about 90% lower than normal levels.

Analysts pointed out that Gulf security risks still dominate shipping decisions. Maersk stated on April 8 that it welcomed the ceasefire but had limited information and had not yet fully restored certainty. It would remain cautious and not adjust routes for the time being.

The market is paying attention to whether follow-up negotiations can lead to a long-term peace agreement. Roger Altman, founder of Evercore, an independent US investment bank, believes that for complex issues like the Iran conflict, a real peace agreement usually takes one to two years instead of two weeks. It is unrealistic to reach a comprehensive agreement within two weeks, but it may lead to the extension of the ceasefire agreement.

China Post Securities stated that the precious metals industry has shown strong defensiveness and anti-cyclicality in the current economic environment. Resource companies, relying on their stable cash flow and resource reserve advantages, are expected to maintain relatively stable performance amid market fluctuations. As global inflation expectations rise and geopolitical uncertainty increases, the value of gold and other precious metals as safe-haven assets has become more prominent, and related industry chain companies have long-term investment value.

Glapinski, Governor of the Central Bank of Poland, said that the Central Bank of Poland continues to purchase gold. Reaffirming the goal of increasing gold reserves to 700 tons, the Polish central bank currently holds 580 tons of gold.

During the market adjustment period, funds are seeking "safe havens" and pour into broad-based ETFs. In fact, since April this year, broad-based ETFs have had a significant “gold-attracting” effect. Industry opinion believes that this may be because institutional funds are adding large amounts of equity assets.

Recently, the Shanghai Stock Exchange Index has approached the 4,000-point mark, market confidence has recovered, and funds are actively allocating equity assets through stock ETFs (traded open-end index funds).

On April 8, the day when A-shares rebounded, broad-based ETFs such as CSI 500 and CSI 1000 as well as chemical ETFs were among the top net inflows. Data show that as of April 8, the highest net inflow of a single broad-based ETF since April was nearly 9 billion yuan, and the net inflow of multiple products exceeded 1 billion yuan; chemical industry, free cash flow and other theme ETFs have also received funding favor.

Respondents told a reporter from International Finance News that this reflects that although the current market risk appetite is becoming more cautious, funds have not left the market, but are carefully exploring structural opportunities.

The highest “money-attracting” amounted to nearly 9 billion yuan

Market conditions are picking up, and broad-based ETFs are once again favored by funds.

Wind data shows that as of April 8, a total of 7 stock ETFs have had net inflows of more than 1 billion yuan since this month. Among them, CSI 500 ETF South ranked first with a net inflow of 8.959 billion yuan, significantly leading similar products. Other stock ETFs with top net inflows include: CSI 1000 ETF Southern (3.779 billion yuan), CSI 300 ETF Huatai-PineBridge (1.508 billion yuan), CSI 500 ETF Jia. Real (1.486 billion yuan), CSI 1000 ETF China (1.463 billion yuan), chemical ETF Penghua (1.126 billion yuan), free cash flow ETF China (1.005 billion yuan).

It is worth noting that many of the above-mentioned broad-based ETFs gained significant holdings on April 8, the day when A-shares rebounded sharply. Among them, CSI 500 ETF Southern had a net inflow of 7.409 billion yuan in a single day; CSI 1000 ETF Southern, CSI 1000 ETF Huaxia, CSI 500 ETF Harvest, and Chemical ETF Penghua had net inflows of 2.995 billion yuan, 1.529 billion yuan, 1.468 billion yuan, and 1.01 billion yuan respectively on that day.

While funds are actively channeling funds into A-shares, Hong Kong stock-related ETFs have been "in the cold". Data show that among the Hong Kong stock exchange ETFs, only the Southbound Innovative Drug ETF Huitian Fu's net inflow exceeded 100 million yuan on April 8, reaching 165 million yuan; the net outflows of the Southbound Connect Internet ETF Fuguo, China Concept Internet ETF E Fund, and Hong Kong Securities ETF E Fund all exceeded 500 million yuan that day.

Since this month, the GEM ETF E Fund has had the largest net outflow among stock ETFs, with a net outflow of 2.689 billion yuan.

Currently more suitable for balanced strategies

Regarding the recent phenomenon of funds continuing to flow into small and medium-cap broad-based ETFs, Zeng Fangfang, the operator of Paipai.com’s wealth public offering products, said in an interview with a reporter from the International Finance News that this shows that funds are paying more attention to the direction of small and medium-sized caps with both valuation attractiveness and growth potential.

"There are three main reasons: First, the matching between valuation and performance is relatively good. Some small and medium-cap companies have the characteristics of 'lower valuation and faster performance growth', and have a certain cost-effectiveness. Secondly, emphasis is placed on performance certainty. In the current financial reporting season window, funds are more inclined to deploy segmented tracks with higher prosperity and increased performance. Targets with clear long-term expectations. The last step is to adapt to the existing capital environment. In the context of limited market growth, capital flows to the small and medium-cap sectors may have a more obvious allocation effect, which reflects that the current market risk appetite is not leaving the market, but is carefully exploring structural opportunities.

At the same time, funds also tend to flow into ETFs such as CSI 300, chemicals, and free cash flow. Zeng Fangfang said that this shows that the market allocation ideas are more balanced, showing a defensive "dumbbell-shaped" structure. On the one hand, in a low interest rate environment, we pursue relatively certain cash flow returns as the "ballast stone" of the portfolio. On the other hand, opportunities to focus on cycles and value are mainly based on expectations that the supply and demand pattern of traditional industries may improve under policy guidance, as well as the global commodity cycle.

In addition, the continued inflow of broad-based ETFs such as the CSI 300 also reflects the long-term position allocation of some funds to core A-share assets. Overall, this structure reflects the prudent mentality of investors taking into account both defensive and structural opportunities in a complex environment.

Regarding the current relatively "cold" inflow of technology growth theme ETFs, Zeng Fangfang believes that it may need to go through a process of gradually matching performance and valuation. In addition, further support from industrial policies and marginal improvement in global liquidity may also become positive factors in promoting the return of funds.

Regarding investment opportunities in the market outlook, China-Europe Fund stated that in addition to funds with high risk appetite, it is currently possible to consider systematically increasing attention after the visibility of geopolitical and economic changes recovers, and to respond to the subsequent market shock period through balanced strategies: giving priority to the banking sector to stabilize portfolio fluctuations The role of efficiency; followed by the coal chemical sector in the chemical industry chain that is expected to improve beyond expectations, the oil and gas extraction sector driven by high oil prices, and the new energy sector that has significantly improved its prosperity; finally, there are medium and long-term scientific and technological main lines such as AI hardware, independent and controllable themes, innovative drugs and commercial aerospace.

Reporter Xia Yuechao

Copy Editor Chen Si

Layout editor Sun Xiao

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Light up "Watching", you look the best! (*╯3╰)

Perhaps due to changes in the ceasefire in the Middle East, the market fluctuated and adjusted throughout the day today (April 9). The three major A-share indexes all closed in the green, and more than 4,200 stocks in the market fell. The turnover of Shanghai, Shenzhen and Beijing was 2,147.5 billion yuan, a decrease of 303.5 billion yuan from yesterday.

On the market, the CPO concept bucked the market trend and strengthened. Dongshan Precision's 2-list stock price reached a record high. The on-site price of the electronic ETF Huabao (515260) covering the fruit chain + core chain + PCB chain reached a maximum of 1.21%; Zhongji InnoLight continued to set a new historical high. The GEM artificial intelligence ETF Huabao (159363), which is the leader in optical modules, had a turnover of more than 1 billion yuan throughout the day, and trading was extremely active.

The direction of computing power hardware has been active repeatedly, and optical chips have once again strengthened. Shijia Photonics rose by more than 13% during the session and hit a record high. The price of Huabao (589190), a science and technology chip ETF with a full "core" layout in the chip industry, once rose by more than 1% and closed up 0.22%. It was mentioned that it has risen for the fourth consecutive time. The chemical sector bucked the market trend and broke through, with petrochemicals, phosphorus chemicals, lithium batteries and other sectors performing actively. Chemical ETF Huabao (516020) touched a high of 1.15% on the market and closed up 0.21%.

Don’t be afraid of market fluctuations and rush to raise funds when prices fall! After the previous day's big rebound, financial technology led the decline in both markets. Huabao (159851), the largest financial technology ETF of its kind*, closed down 2.86% on the market. Funds quietly poured in, with a net subscription of 109 million shares in a single day.

On the news, the ceasefire in the Middle East has changed. White House Press Secretary Levitt announced on April 8 that the United States and Iran will hold the first round of talks in Pakistan on the morning of the 11th. She said that the United States accepted Iran’s new revised plan instead of the original 10-point proposal. U.S. President Trump posted on social media on April 8 that all U.S. ships, aircraft and military personnel will continue to stay around Iran. It is reported that the Strait of Hormuz has been completely closed and some tankers have been forced to return.

CITIC Securities pointed out that although the subsequent negotiation process between the United States and Iran will continue to be iterative, under the constraints of reality, the strategic direction of the situation in Iran is gradually becoming clear. In terms of A-shares, there were funds that generally reduced their positions in March but did not leave the market. After the war was interrupted, these funds were potential buying orders in the short term. The market is expected to recover. After the recession narrative subsides, the logic of China’s superiority in creating pricing power will become mainstream again. In terms of Hong Kong stocks, the performance expectations of Hong Kong stocks have been fully adjusted after the earnings season. With the return of safe-haven funds, April-May is expected to usher in an overvaluation market. *

In terms of allocation, China Merchants Securities said that after the external shock subsides, the market focus in mid-to-late April may shift to areas of high growth in first-quarter results. Resource sectors such as non-ferrous metals and upstream chemicals, as well as new energy, optical communications, and semiconductor industry chains are expected to become the industries with the most eye-catching performance growth. *

[Review of all-knowing ETF hot spots] Focus on the transactions and fundamentals of ETFs in industries such as science and technology chips, chemicals, and financial technology.

1. [China’s “core” shows resilience, Shijia Photonics and CSSC Teqi join hands to reach new heights! Huabao Fund Science and Technology Innovation Chip ETF (589190) bucked the trend and rose, anchoring the high prosperity]

A-shares fluctuated and consolidated, but science and technology chips were active against the market. The price of Huabao (589190), a science and technology chip ETF with a full "core" layout in the chip industry, once rose by more than 1% and closed up 0.22%, marking the fourth consecutive rise.

There are many bright spots on the market, optical chips are strong again, and Shijia Photonics rose by more than 13% during the session and hit a record high! As the demand for AI computing power continues to grow at a high rate, optical communication has become an important part of the construction of AI computing power infrastructure. Industry leader Lumentum predicts that the compound growth rate of indium phosphide optical chips will reach 85% from 2026 to 2030, with outstanding growth flexibility in the upstream core device segment.

Semiconductor materials and equipment continue to be active. CSSC Special Gas once rose by more than 10% to a new high, with Zhongke Feichai, Tuojing Technology, and China Microelectronics leading the gains. The Ministry of Industry and Information Technology issued a public notice soliciting opinions on the approval of 10 industry standards including the "Wet Equipment Test Method for Semiconductor Equipment Integrated Circuit Manufacturing". In addition, the World Semiconductor Trade Statistics Organization predicts that global semiconductor market sales will increase by 26.3% year-on-year to US$975 billion in 2026.

In terms of memory chips, according to TrendForce’s latest memory industry research, taking into account factors such as continued supply reduction, order shifts, and mature process suppliers’ insufficient capacity expansion, it is estimated that Consumer DRAM contract prices will continue to increase by 45%-50% quarter-on-quarter in the second quarter of 2026.

It is worth mentioning that some memory chip concept stocks have disclosed outstanding first-quarter performance forecasts. Although Baiwei Storage has not yet disclosed specific data, the company expects to achieve operating income of 4 billion to 4.5 billion yuan in the first two months of 2026, a year-on-year increase of 340% to 395%; it is expected to achieve net profit attributable to shareholders of 1.5 billion to 1.8 billion yuan, a year-on-year increase of 921.77% to 1086.13%.

In the context of geopolitical conflicts that continue to disturb market sentiment, strong performance and high prosperity may provide an anchor of relative certainty for a few. Aijian Securities stated that it is optimistic that the domestic chip industry chain will usher in a round of historic development opportunities. The specific industry chain links include memory chip modules, memory chip packaging and testing, memory chip manufacturing, and upstream related equipment and materials. Among them, equipment and materials are also key links in the development of the domestic semiconductor industry. It is recommended to focus on investment opportunities related to domestic substitution. *

Laying out the "super cycle" of the chip industry, choosing 20CM high-elastic varieties! Public information shows that Science and Technology Innovation Chip ETF Huabao (589190) and its feeder funds (Class A 021224, Class C 021225) passively track the Shanghai Science and Technology Innovation Board Chip Index. While balancing the allocation and laying out the chip industry across the chain, it accounts for more than 90% of the weight in core areas such as integrated circuits and semiconductor equipment. It has high hard technology content and strong technical barriers.

Data shows that as of the end of 2025, the annualized return rate of the Shanghai Science and Technology Innovation Board Chip Index since the base day has reached 17.93%, which is significantly better than the performance of similar indexes such as Science and Technology Innovation Semiconductor, National Securities Chip, and CSI All-Index Semiconductor. At the same time, the maximum drawdown is smaller and the risk-return ratio is better.

Note: The SSE Science and Technology Innovation Board Chip Index's rise and fall in the past five complete years are 6.87% in 2021, -33.69% in 2022, 7.26% in 2023, 34.52% in 2024, and 61.33% in 2025. The composition of the index constituents is adjusted in a timely manner according to the index compilation rules, and its backtested historical performance does not predict the future performance of the index.

2. [The chemical sector bucked the market trend and broke through, Hwabao Fund Chemical ETF (516020) rose by 1.15%! Petrochemicals and phosphorus chemicals are booming. Is a new round of replenishment cycle starting? 】

The chemical sector fluctuated upwards. The chemical ETF Huabao (516020), which reflects the overall trend of the chemical sector, briefly dipped at the opening and then quickly rose. The intraday price rose as much as 1.15%, and then fell back in shock. As of the close, it rose 0.21%.

In terms of component stocks, some stocks in the petrochemical, phosphorus chemical, and lithium battery sectors were among the top gainers. As of the close, Hengyi Petrochemical soared 5.19%, Hebang Biological and Hongda shares both rose by more than 4%, and Baofeng Energy, Satellite Chemical, Xinzhoubang and other stocks rose by more than 3%.

It is worth noting that since the beginning of the year, the chemical sector has significantly outperformed the broader market. Data shows that as of today's close, the chemical index subdivided by the chemical ETF Huabao (516020) has experienced a cumulative increase of 9.69% during the year, significantly better than the Shanghai Composite Index (-0.07%), CSI 300 Index (-1.38%) and other major A-share indexes during the same period.

Data source: Wind, the value range is 2026.1.1-2026.4.9. The rise and fall of the subdivided chemical index in the past five complete years are: 2021, 15.72%; 2022, -26.89%; 2023, -23.17%; 2024, -3.83%; 2025, 41.09%. The composition of index constituent stocks is adjusted in a timely manner according to the index compilation rules, and its backtested historical performance does not predict the future performance of the index.

On the news, Russia's fourth largest oil refinery NORSI suspended operations due to Ukrainian drone attacks on April 5. Two facilities at the refinery were attacked, and a power station and several houses were also damaged in the attack. NORSI is also Russia's second largest gasoline producer and can process 16 million tons of oil per year, or about 320,000 barrels per day. Some analysts pointed out that in the long run, the optimization of the pattern combined with the contraction of supply, short-term fluctuations will not change the long-term prosperity, and refining and chemical profits will continue to improve.

Looking forward to the market outlook, Great Wall Securities pointed out that from the overall trend, since the third quarter of 2025, the cumulative increase and decrease of the basic chemical industry has rebounded rapidly, and the chemical industry has entered a gradual recovery cycle. From the perspective of fixed asset investment, fixed asset investment in the chemical industry has gradually slowed down. The cumulative year-on-year data of fixed asset investment completion in various sub-sectors has fallen from the high point in early 2025. Coupled with the introduction of supply-side anti-involution policies and the gradual implementation of consumer-side stimulus policies, upstream chemical product prices are expected to enter the upward stage of the cycle, and the PPI index is expected to recover. *

Kaiyuan Securities said that in the short term, regional conflicts have intensified, and overseas orders may be transferred to China, which is expected to drive domestic demand for chemical products, or stably support the rise in chemical product prices; in the medium and long term, if global crude oil supply tends to normalize in the future, and it will take time for overseas affected units to resume production, the world may at least usher in a round of chemical product replenishment demand, and we are firmly optimistic about the revaluation of China's chemical assets. *

How to seize the rebound opportunity in the chemical sector? The layout efficiency of the chemical ETF Huabao (516020) may be higher. Public information shows that the chemical ETF Huabao (516020) tracks the CSI Subdivided Chemical Industry Theme Index, and its constituent stocks cover hot topics such as AI computing power, anti-involution, robots, and new energy. OTC investors can also invest in the chemical sector through chemical ETF feeder funds (Class A 012537, Class C 012538).

3. [Funds rush to raise funds on dips after recovering from low levels! Fintech ETF Huabao (159851) quietly attracted more than 100 million shares, institutions: double lows in sectors highlight allocation value]

After the big rebound the day before, financial technology led the decline in the two cities. The CSI Fintech Theme Index fell 3%, and the constituent stocks were largely green. Yinzhijie led the decline by 7%, while Compass, Wealth Trend, Yinxin Technology, Yingshisheng and other stocks fell by 4%.

In terms of popular ETFs, after a desperate counterattack of over 6% yesterday, Huabao (159851), the largest financial technology ETF of its kind, fell into a correction again, closing down 2.86% on the market, with a transaction volume of over 200 million yuan. Funds poured in quietly, with a net subscription of 109 million shares in a single day.

According to the research report of Soochow Securities, the current financial technology sector has formed multiple resonances at the levels of policy, market, technology and valuation, and investment opportunities are highlighted:

Policy side: two-wheel drive of compliance and investment

Regulations clearly require securities companies to invest no less than 10% of their average net profit or 7% of their revenue in the past three years in IT investment, and encourage the upgrading of core systems. In addition, according to iResearch, the scale of the financial technology market has continued to increase in recent years, and investment by domestic financial institutions is expected to grow to 651.5 billion yuan in 2028.

Market side: The rebound in activity directly increases performance

The average daily trading volume of A-shares in 2025 will increase by 63% year-on-year to 1.73 trillion yuan, driving the performance of C-side companies such as Flush (net profit attributable to parent companies +76%) and Oriental Fortune (+26%) to increase significantly in 2025. Although the B-side is disturbed by budget tightening, the demand for core system replacement is rigid, and the leading resilience still exists.

Technical side: AI + Xinchuang opens up incremental space

Technology empowerment is shifting from cost reduction and efficiency improvement to direct revenue generation. For example, Hundsun Electronics launched the WarrenQ large model based on DeepSeek, Tonghuashun's "Wencai" improved payment conversion, and Xinchuang core systems such as Apex A5 have been implemented in more than ten securities companies.

On the valuation side, the current CSI Fintech Theme Index has fallen back to its lowest level in nearly a year, and valuations are fully digested. Soochow Securities stated that the current fundamentals and valuations of the financial technology sector are at a low level and have significant allocation value. With the implementation of policies and the stabilization of the economy, the demand for digital transformation of securities companies continues to accelerate, and the financial technology market has gradually entered an upward channel. *

Cover news reporter Xie Jiahao and intern Jiang Xiuli

"This is an agreement sent by the investment company. It is confidential and cannot be photographed by the media, but I can show you the valuation. The valuation of our company is 30 million yuan." On April 9, when interviewed by cover news, 28-year-old Yang Ping was full of confidence. "The path of starting a business with AI has been verified again and it is worth persevering."

The project that Yang Ping received the intention to invest in is called "Carbon-based Circle", a social platform built by him, the only human boss, and leading 7 AI employees. Currently, it is mainly web pages and small programs. On this platform, AI publishes salary tasks ranging from 100 yuan to 500 yuan, such as "checking in to a gourmet restaurant". Humans publish pictures and texts to participate in receiving "salary". They can also publish daily sharing that is only visible to AI to express their emotions.

Yang Ping shared his entrepreneurial story. Photo by Xie Jie

“One-person company” startup received valuation financing of 30 million yuan

"I just came back from a financing discussion in Hangzhou last night, and today I am strengthening the code review of several platforms." Sitting in Chengdu Mihe Technology Company, there are many high-rise buildings outside the window. There is only one person in the company, Yang Ping, and the code running on the computer is that of seven "AI employees."

"The financing company sent an agreement at 22:21 last night, planning to invest 30 million yuan." Yang Ping said that he cares more about the project being recognized than the financing figures. "The venture capital company's willingness to invest money is an affirmation of the project."

Shared office space in Yangping. Photo by Xie Jie

What kind of project is this? How do humans participate?

"To put it simply, it is similar to a circle of friends and an order-taking website." Yang Ping introduced that the project is called "Carbon-based Circle". "The circle of friends is for human friends, who may not be able to express themselves as much as they want. The 'Carbon-based Circle' is for AI. There are 7 AI tools in the background to review and publish and respond from different angles. At the same time, AI releases some paid tasks, and humans can complete the tasks and receive money."

Yang Ping, born in 1998, is from Gansu. After studying at the University of Electronic Science and Technology of China, he stayed in Chengdu to start his own business. As a programmer, he has sold servers, made hot-air balloon low-altitude economic products, developed online AI tools, and written songs using AI to sell copyrights. After many entrepreneurial failures, he established a "one real person company" in Chengdu – he is a real human being in the company, serving as the boss and programmer, and the employees are various AI tools.

Yang Ping is in his office in Chengdu, Sichuan. Photo by Xie Jie

The turning point occurred on March 23 this year: "Starting at 7 a.m., I worked continuously for 27 hours to build the 'Carbon-Based Circle' based on the original website. After it went online, the number of page views quickly exceeded 1 million." Yang Ping said that at that moment he knew he had made a project that the market and users needed. Only half a month after it was launched, many venture capital companies came to visit, even came to Chengdu for on-site inspections, and obtained financing agreements, which made him see the "possibility of success."

"I was very nervous before I got the financing, fearing that the project would be copied; but after I got it, I calmed down. With platform recognition and user barriers, I was confident that it would become a trend-leading project." Yang Ping said that so far, he has only invested tens of thousands of yuan in this project, which is used for the use of AI tools, server maintenance and task bounties. The platform has more than 40,000 registered users and the highest number of single-day visits has reached more than 1 million, which made him see the greater vision of the project.

Yang Ping operates AI tools in front of the computer. Photo by Xie Jie

AI pays wages to humans and keeps "iterating": creating an "emotional tree hole"

The other two keywords of this project are “carbon-based circles” and “AI Hire Humans”.

Yang Ping introduced that "Carbon Circle" is an online platform he created, and "AI Hire Humans" is the English expression for AI hiring humans. Since the platform was launched in March, it has been on the hot search for "AI hiring humans" many times.

"Machines paying for human labor is the reason why the project has become popular, and it marks a paradigm shift in the next generation of the Internet." Yang Ping said that what really attracts investment is the "emotional value" it brings to users. "When I introduced the project to investment companies in Hangzhou, I focused on this point."

Yang Ping introduced that the project has functions such as AI publishing tasks, humans completing tasks, and community communication circles. AI publishes tasks such as "Teach me what love is" (write a touching love letter), "Buy me a cup of coffee" (line up, place an order, take photos, describe the taste) and other tasks with pay ranging from 100 yuan to 500 yuan. Human users can receive real-time "salary" after completing the tasks.

The original plan was to rely on this model to attract users and accumulate traffic. But things went beyond expectations.

"Once, AI released the task 'What are human regrets?', and the reward of 100 yuan attracted more than 2,000 people to participate. Everyone expressed their feelings in the comment area. It had nothing to do with money, just to find an emotional outlet." Yang Ping said, "At that moment, I knew that in the AI ​​era, what everyone still needs is emotional value."

AI released a 100 yuan task, and 97 users shared real emotional stories. Network screenshot

He iterated on the product and upgraded the project into a platform that combines daily sharing, emotional expression and AI interaction.

Sharing experience: data speaks for itself, models run through, and the track is new enough

Yang Ping introduced that now, users can not only take on AI tasks to make money, but can also post to share their lives and vent their emotions. They can even check the "AI only visible" mode to let the platform's seven AI employees listen and provide precise comfort. The platform can also remember users' historical posts, provide personalized emotional companionship through AI analysis, and even create "digital clones" to achieve "cyber immortality."

Users share their stories on the platform. Network screenshot

"We are a platform registered with the Ministry of Industry and Information Technology, and the review before content is released is more stringent." Yang Ping said that the project is still in a loss-making state, but he insists on not charging users or cutting off fans. "Users are my barrier."

Home page of the "Carbon Circle" website. Network screenshot

On social platforms, many people asked Yang Ping: How can a person get investment for a project without a team or an office?

He summarized three core reasons: "First, the data speaks for itself. Within a few days of the project being launched, the number of registrations, daily active users, and user retention were all real. Second, the model is running through, there are real transactions in the project, and some people are actually taking orders to make money, and a closed loop has been formed. Third, the track is new enough. Human-computer collaboration and AI hiring are the future direction, and capital loves to invest in such imaginative new things."

Yang Ping said that he is currently negotiating the details of the agreement with the investment company. After receiving the investment, he plans to first improve the platform functions, expand the scale, and strictly control the audit. "First make this platform good, and then conduct more iterations."