Got rejected before app even open

Got introduced to a HR Director at a boutique. We had a brief call, had some basic fit questions, express interest, etc. They introduced me to 2 other bankers, which at first I thought would only be networking call but turned out to be an interview. I did not prepare much but managed to get all the technicals down. 1 week later, the director emailed me saying they are unable to offer me a position at the time and will keep my resume for future opps. The firm won't open SA 2025 application till at least March, so what does this mean? Should I ask the them for clarification?

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