1. Balancing growth and value investing: The stock price of a company is primarily determined by its valuation and profit. While valuation is the decisive factor of stock prices in the short term, a company’s profit or future growth prospect plays a central role in the long term, and is the focus of growth investing.

2. Criteria for a winning stock: Huge upside potential, strong economic moat, high-quality profit, and a high margin of safety.

3. Two questions to ask about high growth: Is the growth transient and only for the short term, or is it able to continue in the long run? Does the valuation make sense given such growth? Our experience suggests that the best investment candidates are companies that have a moderate short-term valuation but are exceptionally competitive internally with huge growth potential.

4. Absolute returns investing: The core strategy is investing in high-quality growth companies, which is supplemented by highly responsive risk control and analysis on the macro economy and the stock market cycles. Products promising absolute returns should be managed in a system that takes into account not only the upward elasticity of the portfolio but also the risk of a potential pullback.

5. Methodology for an all-round development: With a focus on growth in general, we pursue all-round development in terms of specific strategies. With an understanding that every investment in the changing markets is a gamble and that what was true yesterday may not be so tomorrow, we delve deep into each market with the goal of putting our knowledge to practice. We understand further that even the most seemingly straightforward judgments may turn out to be erroneous after a thorough analysis. Additionally, we aim to build and enhance an investment framework that is 1) tested and proven by historical data 2) adaptive and 3) evolving.