专注商业本质以长期视角挖掘成长确定性——访永赢基金蒋卫华

Core Viewpoint - The investment philosophy of Jiang Weihua emphasizes a deep understanding of the essence of business and the importance of aligning company strategy with industry trends for sustainable growth and shareholder returns [3][4]. Investment Philosophy - Jiang Weihua dedicates over 80% of his efforts to evaluating how a company's business actions impact its value, considering industry trends, strategic alignment, and management quality [5][6]. - The focus is on assessing business activities first, followed by waiting for appropriate market prices, while macroeconomic factors are deemed less significant [5][6]. Stock Selection Methodology - Jiang Weihua employs a unique stock selection methodology that prioritizes understanding the core production factors that create competitive advantages for companies [6][7]. - The definition of a "good company" is adaptable and should align with the investment institution's management scale, with smaller, agile organizations being more capable of seizing strategic opportunities [7]. Investment Focus Areas - Jiang Weihua has identified three key areas for investment opportunities: innovative pharmaceuticals, overseas expansion in the manufacturing sector, and emerging consumer markets [8][9][10]. - In the innovative pharmaceuticals sector, Chinese companies are recognized for their global-leading drug development capabilities, particularly in obesity and cancer immunotherapy [9]. - The overseas expansion of Chinese manufacturing firms is expected to yield more orders in the current global environment, while emerging consumer markets, especially in high-end electric vehicles and smart driving technology, present significant growth potential [10].