Core Viewpoint - The private equity industry is undergoing a rigorous evaluation of "real Alpha" amidst increased market volatility and rapid style shifts over the past two years [1] Group 1: Company Growth and Strategy - Haokun Shengfa has emerged as a representative example of institutions achieving growth in both scale and performance during the industry's cleansing phase [2] - The firm's assets have rapidly increased from 500 million to a range of 2 billion to 5 billion, with the number of products growing to 13 [3] - The growth is attributed to a commitment to fundamental research and a focus on technology-driven growth opportunities, rather than merely riding market trends [3][4] Group 2: Research and Talent Development - Haokun Shengfa differentiates itself through a broad strategy coverage and a strong emphasis on talent development, allowing for strategy experimentation [4] - The company maintains a surplus in research personnel to ensure strategy reserves are formed before matching with capital scale [4] Group 3: Investor Relations and Performance - The firm emphasizes aligning its interests with investors by investing over 25 million of its own funds and encouraging employees to invest over 50 million [6] - The approach includes continuous dividends and maintaining liquidity to reduce uncertainty costs for investors [6] Group 4: Investment Methodology - The investment strategy combines subjective direction-setting with quantitative tools to enhance execution speed and precision [7] - A decentralized research structure allows independent researchers to drive strategy optimization [7] Group 5: Female Leadership in Investment - The rise of female investment managers is seen as a recognition of professional capabilities, with women often excelling in detail orientation, risk control, and team collaboration [8] - Advice for women entering the private equity field includes focusing on deep specialization and forward-looking research [8]