中银国际陈昊飞：企业出海是顺势之举，并非刻意为之。

Core Viewpoint - The trend of companies going overseas is a natural progression rather than a deliberate strategy, and overvaluation based solely on the "going overseas" concept may indicate that the company has not genuinely entered the international market [2] Group 1: Market Preferences - The capital market favors companies that possess high competitiveness, meet the demands of key overseas markets, can achieve global pricing, and generate good cash flow [2] Group 2: Market Behavior - Companies that merely replicate their domestic strategies in overseas markets to avoid intense price competition are engaging in low-quality "external competition" behavior [2]