Core Viewpoint - The article highlights the innovative development stories of Yutong over the past year, emphasizing the company's commitment to customer value and technological advancements in the electric bus industry [1][21]. Group 1: Technological Innovations - Yutong has invested in its own gear production line to enhance the efficiency of its electric drive bridge system, achieving an efficiency of 96.9%, which translates to significant cost savings for customers over the vehicle's lifecycle [5][3]. - The company has integrated AI into its manufacturing processes, improving production efficiency by over 20% and achieving a precision of ±2mm in welding operations [7][6]. Group 2: Customer-Centric Services - Yutong has developed a comprehensive service program, "Anrui Tong," which includes video training and real-time monitoring to improve driver behavior, resulting in a 60% reduction in bad driving habits and a 5% decrease in vehicle energy consumption [9][8]. - The company has established a strong after-sales service network, ensuring customer satisfaction and operational efficiency [9][10]. Group 3: Global Expansion and Recognition - Yutong has successfully penetrated international markets, establishing local production facilities in 16 countries and building a global after-sales network, which has led to increased recognition and trust from customers [12][10]. - The company has received symbolic gifts from clients, reflecting their appreciation for Yutong's reliable products and commitment to local service [12][10]. Group 4: Employee Development and Culture - Yutong emphasizes employee growth through structured training programs and hands-on experience, fostering a culture of innovation and collaboration [16][14]. - The company has organized collective weddings and family events, strengthening employee bonds and showcasing its commitment to employee welfare [20][17].

"刚刚经历了职业生涯最大单日跌幅"，"不，徐总你的职业生涯还很长，这只是截止到目前"，我同事说 道。嗯，尽管话并不悦耳，但是我同事说得对，经历的时间越长，碰到的小概率事件就越多。 很多持有人希望我谈谈对市场的看法，但是很遗憾，当下我对市场没有太明晰的看法，预测总是不太可 靠，无法有效地指导投资。我们面对的都是我们从未经历的事情，全球民意的极化，权力的扩张，秩序的 崩解，我们不能冒充专家。我们一直强调要用重要性、可靠性这两把筛子筛选问题，判断市场固然重要， 但是当下判断的可靠性极为孱弱，无法提供有效指导。我主张专注于资产而非市场。 面对纷繁复杂的世界，我们需要更专注一点，回归到问题的本质，资产够不够硬核，假如资产指的是股票 的话，我们进一步要问股票代表的企业有没有为客户/用户创造别人难以替代的价值。生意的本质是为客 户创造价值，进而自己获得其中的一部分。 这是一篇计划外的文章，与其说是写给持有人的，不如说是写给自己的，你我皆是持有人。 曾记否，去年悲观一定会获得最大的认同，今年前两个月乐观是最大的共识，而今…… 推迟做决定，投 资不需要敏捷行动，需要深思熟虑想长远， 哪些公司是最后的赢家，有能力应对变化；在可承 ...