Recently, Penghua Fund's Yan Siqian revealed her views on the market and AI investment. She stated that in the AI era, the technology sector is likely to become a consensus among the people, with a strong belief in technology stocks, especially in the field of robotics. Robotics is an industry with a trillion-dollar space combined with AI, starting from scratch, and the industry is just beginning. China is facing the opportunity to surpass other countries once again and lead globally. Furthermore, when discussing the overall market, Yan Siqian expressed optimism towards the market. Although there may be short-term uncertainties in macroeconomic policies and fundamentals, she believes that in the medium to long term, the economy has hit bottom, and the market is poised for new momentum. The core spirit may be the essence of a new national luck. Yan Siqian pointed out that under the current opportunities of the AI era, the flourishing development of science and technology in China has given rise to the DeepSeek surprise attack, creating a global equalization of computing power and resonance, ushering in the AI+ era. From the cloud to edge devices like glasses and smartphones, from enterprise to consumer, from industry to healthcare, to autonomous driving, from investments by tech giants to small street shops integrating DeepSeek, the AI+ landscape is diverse. She believes that the ultimate carrier of AI applications is a "person". The biggest change in the physical world in the future may be the coexistence of humans and robots. 2025 is expected to be the year of robots, where the commercial application of technology in a trillion-dollar space is just beginning. Regarding the future of Chinese robotics, she mentioned that in the past, China has always had manufacturing and hardware advantages, but lacked in software. However, now both software and hardware have taken off, and China's technological ecosystem is becoming stronger, laying a better foundation for overtaking. At the same time, Yan Siqian expressed that in the medium to long term, as the economic cycle hits bottom, the market is expected to find new momentum, with the core spirit possibly being the essence of a new national luck: 1) From reform and opening up, to "Made in China", to the core spirit (from ordinary to extraordinary), the producers of "Black Myth: Wukong", Feng Ji, director of the animated movie "Nezha", the founder of DeepSeek, Liang Wenfeng, and Wang Xingxing of Yushu Technology, as well as Olympic champion Pan Zhanle, they all have the core spirit of turning ordinary into extraordinary. High-quality development and technological innovation open up new space for growth in the next era. 2) Deutsche Bank's report on China swallowing the world, from many industries focusing on cost-effectiveness to high quality, recognizes the advantages of various industries in China. Foreign investors are beginning to see potential in China, and the discount on Chinese assets may disappear. 3) The completion of the supply-side adjustment is nearing its end, and industries with long-term growth potential like new energy still have continuous growth potential. Leading companies still have long-term value in their holdings. 4) There may be short-term uncertainties in macroeconomic policies and economic fundamentals, and cyclicality and consumption assets need further digestion and selection of the best, with policy and short-term stock price fluctuations being uncertain. From a research perspective, patient capital focuses more on the actual development of industries and long-term trends.