龙旗科技：将投资视为马拉松！以迭代创新穿越周期

Core Viewpoint - In the first half of the year, quantitative private equity funds have outperformed actively managed equity funds, driven by multiple positive factors such as technological iteration, market liquidity, and a strong small-cap style, leading to an increased allocation in investor asset portfolios [1][5]. Performance Highlights - Longqi Technology has excelled in the quantitative private equity sector, ranking 6th with an average return of ***% across its 16 products in the first half of the year [1][10]. - Over the past three years, Longqi Technology has consistently ranked at the top, showcasing its "long-distance running" spirit and cultural ethos [1][5]. Strategy and Innovation - Longqi Technology's strong performance is attributed to three main factors: diversification and adaptability of strategies, long-termism in strategy accumulation, and high collaboration efficiency within the research team [11][12][17]. - The firm employs a multi-factor model with a current structure of 70% price-volume factors, 20% fundamental factors, and 10% alternative factors, allowing for stable excess returns amid market volatility [6][11]. Market Position and Trends - The company has successfully navigated multiple market cycles since its establishment in 2011, earning accolades such as the "Golden Bull Award" for three consecutive years [5][17]. - Longqi Technology emphasizes a long-term investment philosophy, viewing investment as a marathon rather than a sprint, which has contributed to its sustained performance [17][18]. Team and Culture - The company fosters a culture of innovation and collaboration, with a focus on developing talent in quantitative research, particularly in mathematical and statistical fields [21][22]. - Longqi's office environment, located in a serene natural setting, is designed to minimize distractions and enhance focus on research and development [19]. Future Outlook - Longqi Technology plans to continue expanding its product lines, focusing on A-share market quantitative investments, and adapting to market conditions and investor needs [22][24]. - The firm maintains a cautious yet open approach towards AI integration in its strategies, aiming to leverage AI's potential while avoiding overfitting risks [23][24].