ooh got it. you are looking from net profit perspective and yoy comparison. q2 fy25 has higher revenue and higher other income driven by forex which is ~30mil; q2fy25 forex strengthened by 8%+ compared to q1fy25. q2fy26 weakened by 2%+ compared to q1fy26. yoy will be lower. preceding qoq will be depending on revenue.

1. 业绩不达标，机构就调仓，不管前景是好的他们也必须调，因为机构有自己的规定。
2. 遇上日本央行说要加息，又再次恐慌，大家都想起去年8月份的黑色星期一。
3. 恐慌抛售又不小心跌破Ma200,这个位置很多户口会自动卖。
4. 股价再跌的时候，又会有人中margin call,又跌多一层。
简单来说，雪球效应。