This year is almost over, and after going through the report cards of various industries, it turns out that non-ferrous metals are the most impressive. The price increase logic is smooth as silk—it really pays to have mines at home.

The AI crowd is also in high demand; sectors like communications and electronics soar as long as they’re linked to AI. Machinery and equipment aren’t bad either, catching a ride on the humanoid robot trend. To put it simply, there are three main stars in this round of the market: non-ferrous metals, AI, and robots.

Baijiu had a really tough year—not only losing money but also getting dissed left and right, with talk about how young people don’t drink Baijiu anymore and so on. Transportation didn’t fare much better: express delivery companies are locked in a price war, and international trade isn’t going smoothly, so they’re getting squeezed from both ends.

Coal may be cheap in terms of valuation, but unfortunately, no one’s buying it anymore. Everyone says the future is solar, and coal power is on its way out. As for coal stocks, they probably won’t turn things around any time soon.