做“安心”投资 锚定价值顺势而为

Core Viewpoint - The recent strong performance of the A-share market is attributed to long-term valuation compression and the subsequent recovery potential, which has been building up over the past few years [1][3]. Investment Philosophy - The investment philosophy emphasizes "value anchoring and going with the trend," focusing on maintaining a balanced portfolio while adhering to low valuation principles for safer investments [1][2]. - The preference for low-valuation assets reflects a stable investment style, favoring diversified sector allocations and different stages of valuation realization [2][4]. Market Strategy - In a strong market environment, capturing the trend of valuation recovery is more important than trying to maximize profits [3][4]. - The approach to investment is flexible, adapting strategies based on market conditions, with a focus on risk-reward ratios and certainty [4][5]. Research and Team Structure - The investment research team consists of nearly 20 members, covering various sectors such as manufacturing, TMT, pharmaceuticals, and consumer services, focusing on both fundamental and technical analysis [4][5]. Sector Focus - The company is optimistic about multiple sectors, including high-end manufacturing, technology, cycles, military, and pharmaceuticals, with a particular emphasis on the innovative drug sector [5][6]. - The innovative drug industry is expected to undergo significant transformation, moving from reliance on technology imports to self-innovation and global market expansion [6][7]. Future Outlook - The company anticipates continued growth in the innovative drug sector, with a focus on tracking key companies' pipeline data and business development progress [6][7]. - Other areas of interest include AI, advanced manufacturing, energy and chemicals, automotive, and public utilities, with specific strategies for each sector [7].