In Fu Peng's speech, there was a particularly poignant segment.

It perfectly captured the phenomenon of "the duck knows first when the river warms in spring":

"I don’t have many investment groups, but I lurk in the chat groups of delivery riders and ride-hailing drivers across the country because they are my sample parameters for broad market research.

I even have a sample parameter who is the owner of the largest beauty salon chain in the country. I often use him as a research sample. Why?

His 2,000+ stores and the women behind them are the standard consumer research sample parameters. If his business is good, the economy is good; if his business is bad, the economy is bad.

In Hangzhou this year, about 500 beauty salons are expected to be up for transfer in the first half. If any of you are interested, I can connect you.

Would you take it?

You need to understand—whether it’s the 'queen' or the 'non-queen,' they’re all out of money. The men behind them are all out of money."