WEBVTT 00:00:01.000 --> 00:00:03.299 Hello, listeners. Welcome to this special episode 00:00:03.299 --> 00:00:07.459 for 2025. Hi, everyone. But in this episode, 00:00:07.540 --> 00:00:11.339 we don't have a company for you. We did not prep. 00:00:11.939 --> 00:00:16.879 Minor prep. Minor prep. We have some things for 00:00:16.879 --> 00:00:18.620 you, and we're going to chop it up into a few 00:00:18.620 --> 00:00:23.579 segments. First is a recap on the seven episodes 00:00:23.579 --> 00:00:29.010 that we have done already. Second is we have 00:00:29.010 --> 00:00:32.429 some numbers reveal for how we've done so far. 00:00:32.789 --> 00:00:37.710 The third bit is we each have a few questions 00:00:37.710 --> 00:00:41.329 for each other about our favorite company of 00:00:41.329 --> 00:00:45.189 the year. Yep. So welcome to our year end recap 00:00:45.189 --> 00:01:03.740 episode. All right. So what have we made so far? 00:01:03.759 --> 00:01:05.959 What have we achieved so far? We have seven episodes 00:01:05.959 --> 00:01:11.579 published in 2025. We're going to get to that 00:01:11.579 --> 00:01:15.219 sound later. We'll explain in just a bit. And 00:01:15.219 --> 00:01:17.859 that's Ali cheering for us about the seven episodes 00:01:17.859 --> 00:01:22.079 that we have already completed. So let's do just 00:01:22.079 --> 00:01:24.939 a one -liner for each episode just to sum it 00:01:24.939 --> 00:01:27.099 up in case you missed any one of the episodes. 00:01:27.219 --> 00:01:29.599 And in case you want to listen to any of these 00:01:29.599 --> 00:01:32.359 episodes. Yeah. One -liner summaries. Let's go. 00:01:32.680 --> 00:01:37.019 Number one, Insta360 is our first company. It 00:01:37.019 --> 00:01:40.599 is a leading Chinese hardware company specializing 00:01:40.599 --> 00:01:45.260 in design and manufacture 360 -degree action 00:01:45.260 --> 00:01:49.540 cameras that compete directly with GoPro and 00:01:49.540 --> 00:01:54.459 DJI. Company number two is DeepSeek. DeepSeek 00:01:54.459 --> 00:01:57.599 is a cutting -edge Chinese AI research company 00:01:57.599 --> 00:02:02.000 founded by Hedge Fund Capital. It develops and 00:02:02.000 --> 00:02:05.719 releases powerful LLM models for global use. 00:02:07.150 --> 00:02:10.490 Number three, we're moving on to an FMCG company, 00:02:10.750 --> 00:02:14.530 Red Bull, an Austrian company with Thai heritage, 00:02:14.770 --> 00:02:17.830 best known for its energy drink and its massive 00:02:17.830 --> 00:02:20.150 global marketing presence through ownership of 00:02:20.150 --> 00:02:24.330 sports teams, particularly in F1 and other extreme 00:02:24.330 --> 00:02:28.789 sports. And our number four company is Xiaomi. 00:02:28.949 --> 00:02:31.969 And specifically, we covered the EV segment, 00:02:32.169 --> 00:02:34.870 the electric vehicle segment of Xiaomi this year. 00:02:35.580 --> 00:02:38.319 And it's basically a division of the Chinese 00:02:38.319 --> 00:02:41.539 consumer electronic giant Xiaomi parent company. 00:02:41.620 --> 00:02:44.520 And it focused on manufacturing and selling high 00:02:44.520 --> 00:02:50.180 performance smart electric cards like the SU7. 00:02:51.199 --> 00:02:57.199 SU7 and U7. Yes. And the YU7. Yeah. All right. 00:02:57.680 --> 00:02:59.539 Moving on to the next one. Do you want to do 00:02:59.539 --> 00:03:02.199 Pot Mart? I can. Okay, I'm going to steal Pot 00:03:02.199 --> 00:03:04.840 Mart. It is obviously my favorite episode of 00:03:04.840 --> 00:03:09.080 this year. Pot Mart is a Chinese entertainment 00:03:09.080 --> 00:03:13.580 and retail company that is a global leader in 00:03:13.580 --> 00:03:18.520 the designer toy and blind box market known for 00:03:18.520 --> 00:03:22.280 creating and licensing popular IP like Molly 00:03:22.280 --> 00:03:26.180 and Skull Panda. And obviously, the recently... 00:03:26.620 --> 00:03:31.099 Super popular, Labubu. Yes, Labubu. The next 00:03:31.099 --> 00:03:33.620 one we have Game Science, one of my favorite 00:03:33.620 --> 00:03:36.240 companies of the year. A Chinese video game developer 00:03:36.240 --> 00:03:39.800 that gained global recognition for creating the 00:03:39.800 --> 00:03:44.039 highly successful action role -playing game Black 00:03:44.039 --> 00:03:46.780 Myth Ukon. If you haven't gotten a chance to 00:03:46.780 --> 00:03:49.900 play, you can go watch YouTube videos about this 00:03:49.900 --> 00:03:52.979 game. And it's based on the Chinese mythology 00:03:52.979 --> 00:03:57.490 Journey to the West. And lastly, our most recent 00:03:57.490 --> 00:04:01.409 episode is a company called Anta, which is a 00:04:01.409 --> 00:04:04.810 major Chinese multinational sportswear company 00:04:04.810 --> 00:04:09.270 that operates a multi -brand portfolio, including 00:04:09.270 --> 00:04:15.069 its namesake brand Anta, Fila within China, and 00:04:15.069 --> 00:04:19.230 several international outdoor brands like Artorex 00:04:19.230 --> 00:04:23.750 and Salomon. via the company that they acquired 00:04:23.750 --> 00:04:28.269 called Amersports. All right. That will be all 00:04:28.269 --> 00:04:30.810 of the seven companies. Thank you so much for 00:04:30.810 --> 00:04:34.490 those who tuned in and listened to the stories 00:04:34.490 --> 00:04:37.870 behind those companies. And if you like our content, 00:04:38.089 --> 00:04:41.550 please leave a comment or rate us on Spotify 00:04:41.550 --> 00:04:46.639 or Apple Podcast. That wraps up. the seven companies 00:04:46.639 --> 00:04:49.459 that we've covered this year. Let's move on to 00:04:49.459 --> 00:04:54.779 some numbers. So in case you're wondering, you're 00:04:54.779 --> 00:04:57.220 obviously one of our listeners. Who else are 00:04:57.220 --> 00:05:01.420 our listeners? How many locations slash cities 00:05:01.420 --> 00:05:05.439 do we have listenership in? So the official number 00:05:05.439 --> 00:05:13.759 is 156 cities. Which is crazy. As of this afternoon. 00:05:14.100 --> 00:05:18.439 I was pretty shocked. So 156 locations. And when 00:05:18.439 --> 00:05:22.259 we looked at our map, there was dots all around 00:05:22.259 --> 00:05:25.300 the world. in every single continent. And we're 00:05:25.300 --> 00:05:28.100 so pleased to see that. So thank you for tuning 00:05:28.100 --> 00:05:30.360 into the podcast, wherever you're based in. I 00:05:30.360 --> 00:05:32.980 really appreciate it. A couple months ago, when 00:05:32.980 --> 00:05:36.279 I saw that list, it was less than 100. And now 00:05:36.279 --> 00:05:39.540 we slowly moved on to 156. It's really hard to 00:05:39.540 --> 00:05:41.819 keep track of all the dots, but thank you for 00:05:41.819 --> 00:05:44.759 listening to us. Thank you for listening. Let's 00:05:44.759 --> 00:05:50.699 hit 200. So second question is, what is our most 00:05:50.699 --> 00:05:53.199 listened episode? So we just went over all seven 00:05:53.199 --> 00:05:57.720 episodes. Which ones are our top three? I was 00:05:57.720 --> 00:06:02.339 surprised, not surprised about the results. Let's 00:06:02.339 --> 00:06:04.540 start with number three. Yeah. So number three 00:06:04.540 --> 00:06:08.680 is the episode on Xiaomi EV. Guessing that there 00:06:08.680 --> 00:06:10.139 are a lot of people who are interested in the 00:06:10.139 --> 00:06:12.500 hardware manufacturing slash the EV manufacturing 00:06:12.500 --> 00:06:15.040 side of China. Or like people who wants to purchase 00:06:15.040 --> 00:06:18.459 an EV. Yeah. So Xiaomi EV ranks number three. 00:06:19.389 --> 00:06:23.370 Second one. Second one is drum roll Insta360. 00:06:23.870 --> 00:06:27.649 Yes. And that is one of our earliest episodes 00:06:27.649 --> 00:06:31.829 with what I think is great content, but with 00:06:31.829 --> 00:06:35.230 a lot of sound quality issues. So thank you again 00:06:35.230 --> 00:06:37.750 for sitting through this episode and bearing 00:06:37.750 --> 00:06:40.970 the sound quality. The content is great. It's 00:06:40.970 --> 00:06:44.680 just we it took us a while to. Make sure the 00:06:44.680 --> 00:06:49.040 sound is optimized. To stabilize and to find 00:06:49.040 --> 00:06:53.100 a sound engineer. Yeah. Yeah. And the first one, 00:06:53.120 --> 00:06:56.259 actually, I'm not completely surprised about 00:06:56.259 --> 00:07:00.339 at all because it made major headlines this year 00:07:00.339 --> 00:07:04.779 and it's Deep Seek. Yay. Yeah. And it continues 00:07:04.779 --> 00:07:08.579 to rise. You can see the listen curve of Deep 00:07:08.579 --> 00:07:11.660 Seek just always. Continues to gain attention. 00:07:11.899 --> 00:07:14.970 Continues to gain attention. Maybe I'm jumping 00:07:14.970 --> 00:07:18.189 ahead a little bit, but DeepSeq will continue 00:07:18.189 --> 00:07:20.649 to release new models. And every time it releases 00:07:20.649 --> 00:07:23.129 a model, someone search for DeepSeq listens to 00:07:23.129 --> 00:07:26.490 our episode. Thank you, guys. One fun fact about 00:07:26.490 --> 00:07:29.209 DeepSeq, which is DeepSeq really gained a lot 00:07:29.209 --> 00:07:32.709 of momentum in India. Because it's free. And 00:07:32.709 --> 00:07:35.389 also a lot of developers are using the B2B level 00:07:35.389 --> 00:07:39.949 models. So very searchable. One of the cheaper 00:07:39.949 --> 00:07:43.459 options out there. Cost effective. All right. 00:07:43.680 --> 00:07:49.720 Moving on to the top three cities out of the 00:07:49.720 --> 00:07:56.819 156. Yes. Out of the 156. Let's start with number 00:07:56.819 --> 00:08:01.360 three. Number three is a city slash a country. 00:08:01.420 --> 00:08:06.100 And that is Singapore. Yeah. Well, thank you 00:08:06.100 --> 00:08:07.600 for the listeners who are based in Singapore. 00:08:07.939 --> 00:08:10.660 We also have a lot of friends who are based in 00:08:10.660 --> 00:08:12.199 Singapore. So if you're in Singapore, we'll tune 00:08:12.199 --> 00:08:16.459 in. Thank you so much and appreciate your interest 00:08:16.459 --> 00:08:19.540 in China business. And yeah, leave comments. 00:08:19.860 --> 00:08:23.139 We have on our future research list a lot of 00:08:23.139 --> 00:08:25.720 Singaporean companies as well. So look forward 00:08:25.720 --> 00:08:28.220 to those episodes. If you want to find out which 00:08:28.220 --> 00:08:33.399 one, leave a comment. And number two is a city 00:08:33.399 --> 00:08:36.830 in the US. Which I'm quite surprised about. I'm 00:08:36.830 --> 00:08:38.629 surprised as well. Out of all the cities. Yeah. 00:08:38.669 --> 00:08:41.730 I thought it would be like SF, but it turns out 00:08:41.730 --> 00:08:45.830 it's Los Angeles. Yes. Thank you, LA. Yeah. Thank 00:08:45.830 --> 00:08:49.529 you, LA. Show me a lot of love. And number one 00:08:49.529 --> 00:08:54.409 is Sydney. I'm not surprised because we knew 00:08:54.409 --> 00:08:56.110 that when we were looking at episode numbers 00:08:56.110 --> 00:08:59.090 earlier on in the season, it's always been, I 00:08:59.090 --> 00:09:01.190 think Australia has always been on the top of 00:09:01.190 --> 00:09:04.350 our list. So there's definitely a lot of interest 00:09:04.350 --> 00:09:08.870 in Australia about Chinese business and about 00:09:08.870 --> 00:09:13.129 ascent. Coming on to the top three countries 00:09:13.129 --> 00:09:16.809 slash regions, starting from, I guess, number 00:09:16.809 --> 00:09:19.509 three. And then there are two locations slash 00:09:19.509 --> 00:09:24.269 cities that are ranked equally on number three. 00:09:24.940 --> 00:09:28.080 One is Singapore, and then the other one is Hong 00:09:28.080 --> 00:09:31.960 Kong itself as a standalone listenership spot. 00:09:32.100 --> 00:09:37.120 Both of them are around 10 % of our current listenership. 00:09:37.120 --> 00:09:42.340 Hong Kong has a little bit more. Number two is 00:09:42.340 --> 00:09:47.139 basically the same ranking as the city list, 00:09:47.279 --> 00:09:49.679 right? Yeah, same ranking. Yeah, US, which accounts 00:09:49.679 --> 00:09:55.179 for about 30%. And the last bit. I'm genuinely 00:09:55.179 --> 00:09:58.399 surprised. Wait, no surprise or surprise? I'm 00:09:58.399 --> 00:10:00.379 surprised. I'm surprised. I thought US would 00:10:00.379 --> 00:10:02.440 be number one, but it turns out this country 00:10:02.440 --> 00:10:04.100 is number one. That's true. We did something 00:10:04.100 --> 00:10:08.179 pretty well. Yeah, you did something pretty well. 00:10:08.820 --> 00:10:12.019 Thank you, all the friends in Australia. I know 00:10:12.019 --> 00:10:18.649 who you are. No, but we did. So I guess to let 00:10:18.649 --> 00:10:22.250 everyone know, we did a lot of offline promotion, 00:10:22.490 --> 00:10:25.309 mostly starting with our friends and family and 00:10:25.309 --> 00:10:29.850 our colleagues and whatnot. And so a bunch of 00:10:29.850 --> 00:10:34.820 my friends actually were in Australia. and family 00:10:34.820 --> 00:10:37.679 are in Australia. So that could be one of the 00:10:37.679 --> 00:10:41.940 reasons. But also, if you are tuning in from 00:10:41.940 --> 00:10:45.679 Australia and you don't know me at all or can 00:10:45.679 --> 00:10:48.279 at all, please leave a comment and let us know 00:10:48.279 --> 00:10:50.279 like what makes you tune in and what are you 00:10:50.279 --> 00:10:53.960 interested about in regards to the Chinese business 00:10:53.960 --> 00:10:56.860 landscape? Because we'd love to cover topics 00:10:56.860 --> 00:10:59.419 that you're interested in next year. I guess 00:10:59.419 --> 00:11:02.299 jumping, echoing what you said, I think a lot 00:11:02.299 --> 00:11:05.559 of The reason why the U .S. is currently at number 00:11:05.559 --> 00:11:09.159 two is I did also personally send links to a 00:11:09.159 --> 00:11:11.200 lot of friends in the U .S. and some of them 00:11:11.200 --> 00:11:13.360 are either working in tech industry or investment 00:11:13.360 --> 00:11:16.440 industry or attending graduate school of business 00:11:16.440 --> 00:11:20.820 at various locations. They wrote me wonderful 00:11:20.820 --> 00:11:23.460 feedback about what I should be doing. But once 00:11:23.460 --> 00:11:25.960 again, friends, if you hear me here, could you 00:11:25.960 --> 00:11:28.340 please write those comments in Spotify and Apple 00:11:28.340 --> 00:11:30.759 Podcasts? That would be great. I would really 00:11:30.759 --> 00:11:34.019 appreciate it. Like message Penn individually, 00:11:34.259 --> 00:11:37.559 but also write comments. I love the comments 00:11:37.559 --> 00:11:40.340 that you've written down. It's genuine. I have 00:11:40.340 --> 00:11:42.539 implemented a lot of the things that you want 00:11:42.539 --> 00:11:47.580 for change. Okay, so actually moving on to the 00:11:47.580 --> 00:11:50.789 feedback section. We will also attach a very 00:11:50.789 --> 00:11:56.929 small survey with this episode. And the reason 00:11:56.929 --> 00:12:00.309 behind this little survey is that we get to know 00:12:00.309 --> 00:12:03.590 you, our listeners, better. Please tell us what 00:12:03.590 --> 00:12:07.710 you do and what would you hope to listen to so 00:12:07.710 --> 00:12:10.210 that in the year of 2026, we have future seasons. 00:12:10.590 --> 00:12:13.269 We will cover exactly what you want to hear and 00:12:13.269 --> 00:12:14.470 what you want to listen to and what you want 00:12:14.470 --> 00:12:17.570 to explore in Asia. Exactly. So we picked the 00:12:17.570 --> 00:12:21.629 first seven topics, but we like your input to 00:12:21.629 --> 00:12:25.529 help us pick the next seven or 14 or, you know, 00:12:25.529 --> 00:12:29.110 how many ever we will produce over the years. 00:12:29.190 --> 00:12:33.110 Just let us know. We actually did get a lot of 00:12:33.110 --> 00:12:36.210 feedback, whether it is through individual chats. 00:12:37.190 --> 00:12:42.029 or through your comments on Apple Podcasts and 00:12:42.029 --> 00:12:46.169 Spotify and we made some adjustments already 00:12:46.169 --> 00:12:51.190 thanks to your feedbacks and one of which was 00:12:51.190 --> 00:12:53.509 mentioned earlier which is our sound quality 00:12:53.509 --> 00:12:57.289 so if you have been with us since episode one 00:12:57.289 --> 00:13:01.700 I really hope you hear a drastic change in sound 00:13:01.700 --> 00:13:04.360 quality. On top of the sound quality, the other 00:13:04.360 --> 00:13:10.379 thing is we tried to tweak the way that we discuss 00:13:10.379 --> 00:13:14.700 and we try to do the wholesome storytelling and 00:13:14.700 --> 00:13:17.440 we try to make improvements each time we do it. 00:13:17.720 --> 00:13:21.139 We actually tried different note -taking styles 00:13:21.139 --> 00:13:24.860 a couple of times in different ways. We started 00:13:24.860 --> 00:13:28.179 with season one with only seven episodes. And 00:13:28.179 --> 00:13:32.340 as of just now, Guess how many companies we have 00:13:32.340 --> 00:13:36.740 on our gigantic to -do list. We're going to be 00:13:36.740 --> 00:13:38.559 with you for a while. Yes. Do you want to run 00:13:38.559 --> 00:13:40.879 through the entire list? Yes, we're going to. 00:13:40.940 --> 00:13:43.519 How many do we have? We have, including the first 00:13:43.519 --> 00:13:47.759 seven, we have 100 names listed on that episode 00:13:47.759 --> 00:13:49.240 list right now. So it's going to be a while. 00:13:49.620 --> 00:13:53.240 12, 13 years? Yeah, it keeps getting longer and 00:13:53.240 --> 00:13:58.679 longer. Yeah. Let's go to company of the year. 00:13:59.179 --> 00:14:01.240 Company of the Year. Company of the Year. So 00:14:01.240 --> 00:14:04.480 Linda, what is... It's so hard. I like all seven. 00:14:05.000 --> 00:14:08.740 Which one did you pick? I was really debating 00:14:08.740 --> 00:14:11.879 between two and obviously everyone knows my favorite 00:14:11.879 --> 00:14:17.220 is Pop Mart. But I think when we cover Pop Mart, 00:14:17.279 --> 00:14:23.100 Pop Mart has already risen to its... Not as ultimate 00:14:23.100 --> 00:14:25.960 potential, but it's probably like a few months 00:14:25.960 --> 00:14:28.639 after the whole hype. And so between PopMart 00:14:28.639 --> 00:14:32.360 and now, there wasn't too much news going on. 00:14:33.340 --> 00:14:38.919 So I was debating between PopMart and Xiaomi. 00:14:39.639 --> 00:14:42.700 And why Xiaomi is because when we covered Xiaomi, 00:14:43.039 --> 00:14:47.399 U7 was only released, right? But now. But now. 00:14:47.899 --> 00:14:52.360 So I remember specifically in that episode that 00:14:52.360 --> 00:14:55.779 I quoted this number, 350 ,000 units. Oh, they've 00:14:55.779 --> 00:14:58.700 passed that, right? They've passed that. And 00:14:58.700 --> 00:15:02.240 this is only half a year, right? So that was 00:15:02.240 --> 00:15:06.220 my kind of annual projection. They passed that 00:15:06.220 --> 00:15:10.019 by last month, so November. And then December, 00:15:10.039 --> 00:15:14.049 they're going to sell a bit more. So, yeah, I 00:15:14.049 --> 00:15:16.490 mean, obviously, I do have to comment. There 00:15:16.490 --> 00:15:20.230 was a car accident that made the news that kind 00:15:20.230 --> 00:15:24.450 of drove their, I guess, negative publicity for 00:15:24.450 --> 00:15:28.889 a period of time. But overall, if you're, you 00:15:28.889 --> 00:15:30.929 know, if I'm recapping what happened since we 00:15:30.929 --> 00:15:34.590 covered that episode, this company has impressed 00:15:34.590 --> 00:15:38.669 me a lot. Yeah. What about yours? Just to jump 00:15:38.669 --> 00:15:42.440 on the Xiaomi. a bit and it was also in my top 00:15:42.440 --> 00:15:44.639 three list but didn't make it to the final cut 00:15:44.639 --> 00:15:47.639 but i do agree with you on how how well it did 00:15:47.639 --> 00:15:50.539 at the end of the year it did so well that it 00:15:50.539 --> 00:15:56.299 made it it made to a few um really large youtubers 00:15:56.299 --> 00:16:00.240 it caught the attention for marcus brownlee And 00:16:00.240 --> 00:16:02.320 Marcus Brantley had a new channel. It's called 00:16:02.320 --> 00:16:06.740 Autofocus. And that reviews exclusively cars 00:16:06.740 --> 00:16:11.139 and a lot of which are EV, newer models and newer 00:16:11.139 --> 00:16:13.299 versions of EV. And one of the newest episodes 00:16:13.299 --> 00:16:16.820 that was released just December 6th was an episode 00:16:16.820 --> 00:16:21.200 on Xiaomi Su7. And Marcus was really excited 00:16:21.200 --> 00:16:23.340 about some of the features. And the title for 00:16:23.340 --> 00:16:25.960 that episode is, if China is building this EV, 00:16:26.120 --> 00:16:29.039 are we cooked? Well, obviously, when he said 00:16:29.039 --> 00:16:31.889 cooked, The conclusion, you can watch the whole 00:16:31.889 --> 00:16:34.889 video and make your own judgment, but the idea 00:16:34.889 --> 00:16:40.129 is the car feels great. It feels more than what 00:16:40.129 --> 00:16:44.669 a $45 ,000 car. And so I think that's a fair 00:16:44.669 --> 00:16:46.590 comment, at least for this car. We wouldn't say, 00:16:46.649 --> 00:16:48.529 oh, this is the perfect EV that everyone should 00:16:48.529 --> 00:16:52.929 have, but the value goes beyond the price. Yeah, 00:16:53.049 --> 00:16:57.070 Chinese EVs are, including Xiaomi and BYD and 00:16:57.070 --> 00:16:59.679 all the others, are just... Good value for money. 00:16:59.940 --> 00:17:04.640 Yeah. Yeah, which alerts a lot of car manufacturers 00:17:04.640 --> 00:17:07.279 out there, for sure. I feel like it's disruptive. 00:17:07.799 --> 00:17:11.059 Yeah, absolutely. But so who won? Oh, who won? 00:17:11.180 --> 00:17:17.309 Okay. And for me, sorry, this is... kind of love 00:17:17.309 --> 00:17:20.049 at first sight and it stays on number one in 00:17:20.049 --> 00:17:22.569 my, in the bottom of my heart is still Insta360. 00:17:22.890 --> 00:17:25.269 Sorry. It's just, I love this company so much. 00:17:25.369 --> 00:17:27.230 I'm surprised. I thought it would be Leijun. 00:17:27.349 --> 00:17:29.250 Oh, really? Cause you like, you obviously watch 00:17:29.250 --> 00:17:33.130 so many. Oh, I was like fangirling. You are really 00:17:33.130 --> 00:17:34.769 fangirling. Let me explain. I did watch a lot 00:17:34.769 --> 00:17:36.470 of the content that he produced. In fact, I did 00:17:36.470 --> 00:17:38.509 watch the newest documentary that he produced 00:17:38.509 --> 00:17:42.269 about the, uh, the newest test that, uh, Su7 00:17:42.269 --> 00:17:47.269 and U7 run, uh, in. Okay. So still Fangirl, but 00:17:47.269 --> 00:17:52.549 Insta360. Insta360 remains number one. Why? The 00:17:52.549 --> 00:17:55.869 reason being, well, first of all, we posted the 00:17:55.869 --> 00:18:01.410 company before the actual IPO. And we, after 00:18:01.410 --> 00:18:05.299 just a... Month after we published the first 00:18:05.299 --> 00:18:07.700 episode, that's when they IPO'd. And right after 00:18:07.700 --> 00:18:12.240 the IPO, JK, who almost was never on any media 00:18:12.240 --> 00:18:15.019 or news coverage, he became viral. And he did 00:18:15.019 --> 00:18:18.420 just a couple more interview sessions. So I was 00:18:18.420 --> 00:18:21.410 listening to one of his Chinese interviews. In 00:18:21.410 --> 00:18:24.470 April, back in April. Oh, right after IPO. Yeah, 00:18:24.470 --> 00:18:26.730 right after the IPO. I just wanted to see that, 00:18:26.829 --> 00:18:30.390 you know, what is on his mind and where is he 00:18:30.390 --> 00:18:33.269 taking this company towards? And what does he 00:18:33.269 --> 00:18:36.710 want to do? A couple of things that I found quite 00:18:36.710 --> 00:18:39.210 interesting. Well, first of all, he sees the 00:18:39.210 --> 00:18:45.509 first competition with GoPro as sort of an exam 00:18:45.509 --> 00:18:54.539 to building a product. In 2017, Insta360's revenue 00:18:54.539 --> 00:18:59.920 was only GoPro's 140th. And in 2019, it became 00:18:59.920 --> 00:19:05.039 110th. And now it's about the same, side to side. 00:19:05.180 --> 00:19:10.240 Wow. Yeah. And he also made a relatively snarky 00:19:10.240 --> 00:19:13.339 comment about GoPro. Because right now... You 00:19:13.339 --> 00:19:17.359 can do that when you're ready. In the 360 slash 00:19:17.359 --> 00:19:20.279 action camera landscape. Well, obviously there 00:19:20.279 --> 00:19:23.980 are. number one number two and number three and 00:19:23.980 --> 00:19:26.420 so the snarky comment that he made about gopro 00:19:26.420 --> 00:19:30.440 is the interviewer asked him about what do you 00:19:30.440 --> 00:19:33.140 think of gopro and his comment was if you're 00:19:33.140 --> 00:19:35.099 okay with being number three you don't really 00:19:35.099 --> 00:19:36.960 need to do anything you don't have to always 00:19:37.390 --> 00:19:39.430 compete like number one and number two are competing 00:19:39.430 --> 00:19:42.890 against each other okay so so that was i find 00:19:42.890 --> 00:19:46.210 that to be you know a bit more spicy than i expected 00:19:46.210 --> 00:19:48.369 it is spicy but it's also in chinese so no one 00:19:48.369 --> 00:19:52.049 in gopro headquarters well so i think obviously 00:19:52.049 --> 00:19:54.950 it is worthy of an opponent right like gopro 00:19:54.950 --> 00:19:57.589 still is one of the most favored action camera 00:19:57.589 --> 00:19:59.710 for a lot of surfers and for different scenarios 00:19:59.710 --> 00:20:02.829 but But I think to compete with a Chinese hair 00:20:02.829 --> 00:20:06.210 work company, it takes more than just an idea. 00:20:06.609 --> 00:20:09.509 You actually have to have full control on your 00:20:09.509 --> 00:20:12.869 supply chain. And they did this brilliantly marketing 00:20:12.869 --> 00:20:16.470 to global audiences because I just got the latest 00:20:16.470 --> 00:20:18.970 number where they grow year over year for sales 00:20:18.970 --> 00:20:25.109 for over 90 % year over year. And their annual 00:20:25.109 --> 00:20:28.369 year over year, I think, is 70%. For this year, 00:20:28.430 --> 00:20:31.410 so even after IPO, they continue to grow and 00:20:31.410 --> 00:20:36.990 it's growing abroad, not in domestic China. So 00:20:36.990 --> 00:20:41.069 I feel like they've... This is beyond my expectations. 00:20:41.309 --> 00:20:44.670 Yeah. Because I would think that they somehow 00:20:44.670 --> 00:20:47.349 penetrated the target market and they're already 00:20:47.349 --> 00:20:49.950 number three. So now they're going... Still growing. 00:20:50.190 --> 00:20:53.390 They're going after DJI. Okay. My second point 00:20:53.390 --> 00:20:55.740 is about... DJI, this head -to -head competition 00:20:55.740 --> 00:20:58.279 with DJI, because in the interview, some of the 00:20:58.279 --> 00:21:01.839 hottest debated question was, okay, so now you're 00:21:01.839 --> 00:21:05.240 a, you know, IPO company, you're an action camera. 00:21:05.640 --> 00:21:08.019 Hello, guess who is your opponent, right? DJI. 00:21:08.059 --> 00:21:10.140 Obviously, this is a big target that you cannot 00:21:10.140 --> 00:21:12.839 miss. So how are you going to compete with them? 00:21:13.319 --> 00:21:16.559 Insta360 recently released their first drone 00:21:16.559 --> 00:21:19.039 camera. Yeah. And that drone camera is called 00:21:19.039 --> 00:21:24.380 Anti -Gravity A1 in 8K. It's a 360 -degree drone. 00:21:24.680 --> 00:21:28.460 And guess what? DJI also started building a 360 00:21:28.460 --> 00:21:32.940 camera. It's called Osmo 360. So the two started 00:21:32.940 --> 00:21:35.839 competing against each other head -to -head in 00:21:35.839 --> 00:21:42.579 the market. That each other's are. Exactly. Oh, 00:21:42.660 --> 00:21:45.359 that's not good. That's going to eat up. Because 00:21:45.359 --> 00:21:48.900 both of them also have this similar supply chain 00:21:48.900 --> 00:21:53.119 in China. To be honest, I watched the whole video. 00:21:53.359 --> 00:21:58.740 I've done the specs checking. I watched influencers 00:21:58.740 --> 00:22:02.200 who use their cameras, new cameras to produce 00:22:02.200 --> 00:22:04.579 the content. What happened to no research? Not 00:22:04.579 --> 00:22:07.200 no research. I'm just watching a couple of videos. 00:22:09.519 --> 00:22:12.400 what my eyes can do the best to detect whether 00:22:12.400 --> 00:22:14.539 there is any difference between the videos that 00:22:14.539 --> 00:22:17.720 they produce. I think both products are great. 00:22:17.920 --> 00:22:21.559 Like my eyes cannot visibly tell the difference 00:22:21.559 --> 00:22:24.339 between A or B. So if you're a hardware geek 00:22:24.339 --> 00:22:28.700 and maybe you're going to see S2026, you can 00:22:28.700 --> 00:22:31.140 see it for yourself and decide which one's better. 00:22:31.240 --> 00:22:34.640 But for me, you know, they're... all equally 00:22:34.640 --> 00:22:37.319 very good in terms of specs and as an amateur 00:22:37.319 --> 00:22:41.200 user i wouldn't say this is a yeah as a consumer 00:22:41.200 --> 00:22:43.799 i can't tell i can't tell yeah as a consumer 00:22:43.799 --> 00:22:48.299 i'm looking forward to price drops jk mentioned 00:22:48.299 --> 00:22:51.440 something about uh you know if you're competing 00:22:51.440 --> 00:22:55.279 against dji and listing from the best case scenario 00:22:55.279 --> 00:22:58.160 to the worst case scenario so like obviously 00:22:58.160 --> 00:23:02.279 he has thought this through So clearly the whole 00:23:02.279 --> 00:23:05.720 market is going to grow. Maybe my revenue will 00:23:05.720 --> 00:23:09.259 go up and my market share will decrease because 00:23:09.259 --> 00:23:12.220 of DJI will always be in this market. And in 00:23:12.220 --> 00:23:14.500 the better scenario, I will not suffer so much 00:23:14.500 --> 00:23:16.380 in the profit margin. But in the not so great 00:23:16.380 --> 00:23:18.859 scenario, if the other product really is great, 00:23:19.019 --> 00:23:21.500 then my profit is going to suffer. But in which 00:23:21.500 --> 00:23:23.759 case the consumers will benefit, right? Because 00:23:23.759 --> 00:23:25.859 you get better products with lower price. I have 00:23:25.859 --> 00:23:27.900 my guesses about where this is going, but we'll 00:23:27.900 --> 00:23:29.740 see next year. We'll see next year. We'll continue 00:23:29.740 --> 00:23:31.940 to watch it. But seriously, if you guys are going 00:23:31.940 --> 00:23:34.920 to CES 2026, please take a look and see which 00:23:34.920 --> 00:23:38.559 one is your favorite camera. And Jake, he said 00:23:38.559 --> 00:23:41.619 he's still interested in long -term sustainable 00:23:41.619 --> 00:23:44.319 business. There was a fun question that's directed 00:23:44.319 --> 00:23:47.640 to him that's asked by the interviewer. She said, 00:23:47.779 --> 00:23:51.559 if you're not doing Insta360, hypothetically, 00:23:51.720 --> 00:23:53.180 what do you think you'll be doing right now? 00:23:53.880 --> 00:23:56.559 And JK's answer just surprised me. Which is? 00:23:56.599 --> 00:24:00.759 He said, I could, you know, maybe I will have 00:24:00.759 --> 00:24:03.960 a design agency. What? And I will still be designing 00:24:03.960 --> 00:24:08.039 products. He has a thing for it. Okay. Not surprising. 00:24:08.039 --> 00:24:13.890 Or. I will become a chef. Surprising. One can 00:24:13.890 --> 00:24:16.970 have many interests. True. One can have many 00:24:16.970 --> 00:24:21.190 interests. Yeah. And he seems like he's really 00:24:21.190 --> 00:24:24.650 enjoying what he's doing and he wants to build 00:24:24.650 --> 00:24:29.130 a world -class product. a world -class company 00:24:29.130 --> 00:24:33.329 and it's shifting Insta360's strategy from product 00:24:33.329 --> 00:24:35.809 number one to, oh, I want to be taking care of 00:24:35.809 --> 00:24:38.130 my company. I want the organization to grow as 00:24:38.130 --> 00:24:40.150 a whole. So I think that's pretty sweet. Yeah, 00:24:40.250 --> 00:24:44.250 it's growing. Anyways, so that's my company of 00:24:44.250 --> 00:24:48.500 the year. And moving on to question number two, 00:24:48.640 --> 00:24:52.039 things we should have included in the episode 00:24:52.039 --> 00:24:55.460 but forgot. What did you forget? First of all, 00:24:55.460 --> 00:24:58.900 let me just say there's so many because at least 00:24:58.900 --> 00:25:02.960 for the first few episodes, each of us takes 00:25:02.960 --> 00:25:07.920 in on average a notebook or not notebook, but 00:25:07.920 --> 00:25:10.519 like a document. Gigantic notebook. That is on 00:25:10.519 --> 00:25:13.660 average for me, it's 22 pages. That's about right. 00:25:14.509 --> 00:25:17.309 So with pictures and charts and everything included. 00:25:17.450 --> 00:25:20.269 Exactly. So even, you know, with two hours, which 00:25:20.269 --> 00:25:23.069 is a long time, I know, with two hours, there's 00:25:23.069 --> 00:25:26.210 no way to cover all of them. So to condense this, 00:25:26.470 --> 00:25:28.829 I'm just going to give one fact that I really, 00:25:28.910 --> 00:25:31.250 really hope that I included during the episode. 00:25:31.309 --> 00:25:35.509 And this is obviously about PopMart. So the ticker 00:25:35.509 --> 00:25:38.200 symbol. Wait, what? Ticker symbol. The stock 00:25:38.200 --> 00:25:42.099 ticker symbol for PopMart in the Hong Kong Stock 00:25:42.099 --> 00:25:48.980 Exchange is 9992. Oh. It's okay if you have no 00:25:48.980 --> 00:25:52.859 idea. So in Hong Kong, like your ticker symbol 00:25:52.859 --> 00:25:56.420 is all in numbers, which is unlike the New York 00:25:56.420 --> 00:25:59.079 Stock Exchange or Nasdaq, which is the alphabetical. 00:25:59.259 --> 00:26:01.500 So in Hong Kong, all the companies that are listed 00:26:01.500 --> 00:26:03.900 are represented using numbers and you get to 00:26:03.900 --> 00:26:08.799 pick the number. So Potmar picked 9992. If you 00:26:08.799 --> 00:26:11.039 read it in Chinese, it will make sense. Yes. 00:26:11.119 --> 00:26:17.349 So in Chinese, it's called 9992. Sounds exactly 00:26:17.349 --> 00:26:20.750 the same as long, which is the length of time 00:26:20.750 --> 00:26:24.910 long. And then er sounds similar to I, which 00:26:24.910 --> 00:26:28.230 is love. So the ticker symbol basically says, 00:26:28.490 --> 00:26:35.910 please love us for a long time. Cute. Romantic. 00:26:35.910 --> 00:26:38.529 I know, it's kind of cute. They personally picked 00:26:38.529 --> 00:26:44.349 it. Sounds like it's a lovely cute fact that 00:26:44.349 --> 00:26:46.009 they really put a lot of love into this. Yeah, 00:26:46.009 --> 00:26:49.400 and it's so suitable for Pop Mart. yeah like 00:26:49.400 --> 00:26:57.140 love us forever you're a real fan let's please 00:26:57.140 --> 00:26:59.940 just take a second to congratulate linda on acquiring 00:26:59.940 --> 00:27:04.259 her first labubu yeah and yeah can you tell us 00:27:04.259 --> 00:27:06.880 a little bit more about your labubu please what 00:27:06.880 --> 00:27:09.500 color what kind of clothes does it have right 00:27:09.500 --> 00:27:14.680 now it does have clothes so i actually end up 00:27:14.680 --> 00:27:17.960 getting two because the first one i i i blind 00:27:17.960 --> 00:27:20.480 box right so the first one I dropped wasn't the 00:27:20.480 --> 00:27:22.940 color I wanted I got the second one the second 00:27:22.940 --> 00:27:26.380 one I dropped wasn't the color I wanted so I 00:27:26.380 --> 00:27:29.759 wanted orange because I'm a huge McLaren fan 00:27:29.759 --> 00:27:35.210 and I bought the clothes For it already. So the 00:27:35.210 --> 00:27:38.390 first one I got was a pink one. And then the 00:27:38.390 --> 00:27:41.029 second one I got was a blue one. Oh, you got 00:27:41.029 --> 00:27:43.349 a third one? I didn't get a third one because 00:27:43.349 --> 00:27:46.250 as much as I love Pop Mart, I don't want to gamble. 00:27:48.049 --> 00:27:50.390 So I don't want to, you know, I want to stop 00:27:50.390 --> 00:27:52.869 when I need to stop because I feel like this 00:27:52.869 --> 00:27:57.750 is a path where I just can't go back on. If I 00:27:57.750 --> 00:27:59.730 purchase a third one, what if there's a fourth 00:27:59.730 --> 00:28:02.779 one? What if I want to get the black one? holes 00:28:02.779 --> 00:28:06.180 but interestingly what happened was i bought 00:28:06.180 --> 00:28:10.539 as a present uh i bought one as a present but 00:28:10.539 --> 00:28:13.900 i didn't open it for a friend's birthday and 00:28:13.900 --> 00:28:16.519 when she opened it she wanted a blue one because 00:28:16.519 --> 00:28:20.619 she's a red bull fan Just like me. I know. And 00:28:20.619 --> 00:28:22.920 when she opened it, guess what color it was? 00:28:23.119 --> 00:28:26.359 It was blue. It was orange. It was orange. Oh, 00:28:26.359 --> 00:28:29.420 so you swapped. So we swapped. Great. So it's 00:28:29.420 --> 00:28:32.660 a win -win situation. Except I bought three black 00:28:32.660 --> 00:28:35.940 boxes. It was still a win -win situation. Yeah. 00:28:36.259 --> 00:28:39.079 Which is not a lot, according to a lot of people 00:28:39.079 --> 00:28:43.319 out there who bought way more than me. I also... 00:28:43.960 --> 00:28:47.220 So this is interesting. What else did you buy? 00:28:47.680 --> 00:28:51.140 I didn't buy. I bought other stuff from PopMart, 00:28:51.180 --> 00:28:54.160 yes. But I remember in the episode, I mentioned 00:28:54.160 --> 00:28:57.039 that I couldn't get it through PopMart's official 00:28:57.039 --> 00:29:03.240 channels. So there are resellers. On Xiaohongshu. 00:29:03.339 --> 00:29:05.640 With a lot of certainty. Yeah, Xiaohongshu is 00:29:05.640 --> 00:29:10.039 kind of the Instagram equivalent, is it? Or Instagram 00:29:10.039 --> 00:29:13.920 11 .8 equivalent in China where they do live 00:29:13.920 --> 00:29:16.440 streaming. Social commerce platform. Yeah, and 00:29:16.440 --> 00:29:18.599 I realized that there's this business model. 00:29:18.660 --> 00:29:22.140 Not only do you sell secondhand, which I do not 00:29:22.140 --> 00:29:24.859 encourage, but I didn't get it at a huge premium. 00:29:24.900 --> 00:29:28.700 It was reasonable price. Not only do they sell 00:29:28.700 --> 00:29:30.839 secondhand, they get the stuff from PopMart, 00:29:30.980 --> 00:29:34.940 they live stream it and they open it on the live 00:29:34.940 --> 00:29:37.039 stream so you can participate in the opening. 00:29:37.319 --> 00:29:39.500 I remember you showing me the video. Yeah, which 00:29:39.500 --> 00:29:42.539 is, which is like, it's a crazy good business 00:29:42.539 --> 00:29:48.480 model and I will watch it for like an hour, which 00:29:48.480 --> 00:29:51.759 is like the platform gets my engagement rate 00:29:51.759 --> 00:29:57.299 and then it gets my money. This is, mind -blowing 00:29:57.299 --> 00:30:02.140 when it comes to like the the byproduct of pop 00:30:02.140 --> 00:30:05.779 mart being so popular it propelled this whole 00:30:05.779 --> 00:30:09.539 industry i mean when it's adrenaline mixed with 00:30:09.539 --> 00:30:13.799 dopamine yeah right yeah but not encouraged guys 00:30:13.799 --> 00:30:17.099 not encouraged i spent probably five five percent 00:30:17.099 --> 00:30:21.920 extra on the on the blind box um but yeah it's 00:30:21.920 --> 00:30:27.619 uh man fun to watch secondary market blind box 00:30:27.619 --> 00:30:30.980 opening caution and you get to watch other people's 00:30:30.980 --> 00:30:35.380 blind box opening yeah what did you forget okay 00:30:35.380 --> 00:30:38.819 the the one thing that i forgot in the xiaomi 00:30:38.819 --> 00:30:41.039 ev episode still that one because it's so rich 00:30:41.039 --> 00:30:45.319 it's so dense and i had a question about the 00:30:45.319 --> 00:30:49.740 car racer who did the first test at the newberg 00:30:49.740 --> 00:30:52.569 ring and remember we talked about this British 00:30:52.569 --> 00:30:56.089 driver. Yes. His name is David Petard, who is 00:30:56.089 --> 00:31:00.190 a qualified driver in Europe and blah, blah. 00:31:00.609 --> 00:31:03.970 Oh, great. There is another mystery man. Oh, 00:31:04.009 --> 00:31:09.230 okay. He showed up multiple times. A driver? 00:31:09.390 --> 00:31:14.250 A driver. A Chinese driver who tested out Su 00:31:14.250 --> 00:31:18.910 -7's prototype in the Shanghai racetrack. And 00:31:18.910 --> 00:31:22.210 he also tested out the cars in all of the Chinese 00:31:22.210 --> 00:31:26.950 tracks. And his name is Zhenzhou Chen. Does his 00:31:26.950 --> 00:31:30.230 name ring a bell to you at all? Okay. And I don't 00:31:30.230 --> 00:31:33.069 blame you for that. I looked into him because 00:31:33.069 --> 00:31:36.930 I... I'm aware of ever since I started watching 00:31:36.930 --> 00:31:39.950 Formula One with you and all the other car racing 00:31:39.950 --> 00:31:42.569 games. Oh no, should I know this? No, no, no. 00:31:42.690 --> 00:31:44.950 You started to notice a few Chinese names. And 00:31:44.950 --> 00:31:47.569 really there's only less than a handful of names 00:31:47.569 --> 00:31:50.029 who are Chinese, right? Who either show up in 00:31:50.029 --> 00:31:53.869 Formula One or other endurance car races. Some 00:31:53.869 --> 00:31:56.809 of the most noticeable ones are Zhou Guan Yu, 00:31:56.849 --> 00:32:00.369 Xiao Zhou, and Ye Yifei, like the World Endurance 00:32:00.369 --> 00:32:03.410 Championship. And Ren Zhou's name didn't show 00:32:03.410 --> 00:32:06.809 up anywhere. So I was genuinely curious about 00:32:06.809 --> 00:32:10.369 who is this person who is driving Xiaomi's car. 00:32:10.549 --> 00:32:16.410 And it turns out this guy is a vehicle dynamics 00:32:16.410 --> 00:32:22.299 engineer. He was previously... a car racer but 00:32:22.299 --> 00:32:26.140 he's primarily a car engineer and did you know 00:32:26.140 --> 00:32:29.880 where he used to work super fun red bull jili 00:32:29.880 --> 00:32:35.680 jili yeah he used to work for the jili institute 00:32:35.680 --> 00:32:40.000 of research he's absolutely not a tier one driver 00:32:40.000 --> 00:32:43.980 but he cares deeply about about building an ev 00:32:45.579 --> 00:32:49.559 Not a super famous driver in China, but he test 00:32:49.559 --> 00:32:54.640 drove Xiaomi's prototype Su7 in all of the China 00:32:54.640 --> 00:32:57.299 race rings. Oh, interesting. And you do need 00:32:57.299 --> 00:32:59.859 a license to test drive. You need a license to 00:32:59.859 --> 00:33:02.099 do that because in the documentary videos that 00:33:02.099 --> 00:33:04.759 I checked out, he was making comments, not just 00:33:04.759 --> 00:33:07.960 about the lap speed, like what time he wants 00:33:07.960 --> 00:33:10.869 to achieve. comparing to Porsche so I was thinking 00:33:10.869 --> 00:33:13.670 you must be a pro to do that and after the race 00:33:13.670 --> 00:33:15.890 he would reveal all the numbers with the with 00:33:15.890 --> 00:33:18.849 the other engineers that said so I'm like oh 00:33:18.849 --> 00:33:20.710 you actually know how to make a car like who 00:33:20.710 --> 00:33:22.930 are you so I did a little research it's actually 00:33:22.930 --> 00:33:25.569 really cool being an engineer and a racer at 00:33:25.569 --> 00:33:28.450 the same time And you would know, oh, this is 00:33:28.450 --> 00:33:30.430 how I feel in the car. And when you get out of 00:33:30.430 --> 00:33:32.390 the car, oh, this thing has to be fixed. Wouldn't 00:33:32.390 --> 00:33:34.769 that be cool? Yeah. So that's one thing that 00:33:34.769 --> 00:33:39.369 I forgot. He continues to show up in all of Xiaomi's 00:33:39.369 --> 00:33:42.230 documentaries. So I got interested. Okay. Yeah. 00:33:42.769 --> 00:33:46.349 I will keep mine. I remember this guy. So that 00:33:46.349 --> 00:33:50.670 is our favorite companies of the year and the 00:33:50.670 --> 00:33:54.339 things that we forgot. Oh, one more thing. The 00:33:54.339 --> 00:33:58.480 cat sound. Yes, we need to address the cat sound. 00:33:58.900 --> 00:34:04.819 We typically record at home, and I'm very lucky 00:34:04.819 --> 00:34:07.799 that Linda is a neighbor. The cat sound that 00:34:07.799 --> 00:34:11.199 you noticed in the last two episodes is because 00:34:11.199 --> 00:34:15.059 I do have a little cat. Queen. Yeah, she's very 00:34:15.059 --> 00:34:19.050 sassy. And it's wintertime. So sometimes when 00:34:19.050 --> 00:34:21.250 we're recording, we shut the door and she feels 00:34:21.250 --> 00:34:23.489 very lonely so that she would want to come in 00:34:23.489 --> 00:34:28.889 and, you know, make an appearance and wants attention. 00:34:29.469 --> 00:34:33.230 So excuse the cat sound. It may or may not continue 00:34:33.230 --> 00:34:35.730 to appear in the future episodes, but we hope 00:34:35.730 --> 00:34:38.230 that you can bear with us. She's very lovely. 00:34:38.369 --> 00:34:41.070 She's a very good company for recording. Our 00:34:41.070 --> 00:34:45.260 secret third host. All right. I think. As we 00:34:45.260 --> 00:34:48.199 know, any special wishes for year 2026? Things 00:34:48.199 --> 00:34:52.000 you want to achieve? I want to get, I won't say 00:34:52.000 --> 00:34:54.699 the exact number, but it's in my mind, but I 00:34:54.699 --> 00:35:01.739 want to get X number of reviews. Yes, guys, if 00:35:01.739 --> 00:35:08.480 you listen this far. My only wish is I truly, 00:35:08.500 --> 00:35:14.909 genuinely want to know you a bit more. And if 00:35:14.909 --> 00:35:20.710 you're listening to this episode, it's not just 00:35:20.710 --> 00:35:24.829 about one comment. I actually want to know why 00:35:24.829 --> 00:35:27.150 you're curious about this and how did you find 00:35:27.150 --> 00:35:31.349 out about us? And thank you for your support 00:35:31.349 --> 00:35:36.579 so far. Please continue to... you know, invest 00:35:36.579 --> 00:35:40.219 your time with us. And we really hope that we 00:35:40.219 --> 00:35:44.880 get to bring you to every single corner of the 00:35:44.880 --> 00:35:49.940 Asia that we know. And let's learn about those 00:35:49.940 --> 00:35:53.360 companies, great businesses together. Yes, let's 00:35:53.360 --> 00:35:56.679 do it together. Thank you, everyone. Thank you. 00:35:56.679 --> 00:35:59.239 Please rate us or leave us comment on Spotify 00:35:59.239 --> 00:36:02.039 and Apple podcast. And that's a wrap for 2025. 00:36:02.519 --> 00:36:02.840 Yay.