Core Viewpoint - The article emphasizes the advantages of heavy asset industries with low obsolescence risk compared to light asset valuations, which are currently perceived as relatively high. It suggests that the TOKEN overseas expansion could convert overseas computing demand into domestic electricity demand, particularly in regions with low electricity prices like Southwest hydropower [1]. Group 1: Heavy Assets and Low Obsolescence - Heavy assets are characterized by low obsolescence risk, making them a more stable investment compared to light assets [1]. - The current market shows a divergence in opinions regarding AI, leading to a higher valuation of light assets, while heavy asset industries present a more attractive investment opportunity [1]. Group 2: TOKEN Overseas Expansion - TOKEN aims to transform electricity into computing power, utilizing AI large models to process information at the minimal semantic unit level, referred to as Token [1]. - The strategy involves leveraging internet and cross-border communication infrastructure to provide intelligent services globally, creating a closed-loop operation where "electricity does not leave the country, but computing value crosses borders" [1]. - The article suggests that the increase in overseas computing demand may prioritize matching with domestic electricity demand in low-price regions, particularly highlighting the potential of Southwest hydropower [1].