突传！王宗合，辞世！

Core Insights - Wang Zonghe, former deputy general manager and fund manager of Penghua Fund, passed away on December 29, 2025, after a notable career in the investment industry [1] - He joined Penghua Fund in May 2009, focusing on sectors such as food and beverage, agriculture, and retail, and became a fund manager in December 2010 [1] - Wang's fund management scale once reached 55.4 billion yuan, with the Penghua Craftsmanship Selected Mixed Fund achieving a record subscription of 137.1 billion yuan on its launch day in 2020 [1] Company Overview - Wang Zonghe held the position of deputy general manager at Penghua Fund starting January 2021, managing funds for over 12 years [1] - In 2023, he gradually stepped down from multiple funds, and in February 2024, he left his role as deputy general manager due to health reasons [1] Investment Philosophy - Wang was known for his long-term bullish outlook on the liquor industry, famously stating, "Through storms for thirteen years, walking alongside Moutai" [1] - His investment strategy prioritized selecting stocks that met the high standards set by Warren Buffett and Charlie Munger, focusing on companies with high barriers to entry, sustainable ROE, and significant compounding effects [2] - He also favored investing in companies with clear trends over a three to five-year horizon, avoiding bets on growth at high valuations [2]