Core Viewpoint - The article highlights the impressive investment performance of Haisheng Capital, which has successfully led nine portfolio companies to IPOs, showcasing its focus on hard technology, green technology, and life sciences [2][5][6]. Investment Performance - Haisheng Capital has achieved a milestone with nine IPOs since mid-last year, including notable companies like Jingtai Technology and Yitang Co., demonstrating its strong foothold in the hard technology sector [2][5]. - The firm has invested in over 100 technology companies, with more than 20% successfully going public and nearly one-third achieving exits [5][6]. - The dollar fund established in 2018 has a DPI exceeding 1.5, while the 2019 fund has a DPI of 2, indicating strong returns compared to industry standards [5]. Investment Philosophy - The investment philosophy of Haisheng Capital is encapsulated in the phrase "weak water three thousand, only take one ladle," emphasizing selective investment in high-potential projects while avoiding those lacking long-term value [6][19]. - The firm adopts a "dumbbell investment strategy," focusing on both industry leaders and promising early-stage projects, ensuring stability and high growth potential [11][13]. Sector Focus - In the semiconductor sector, Haisheng Capital employs a "research-driven long-term investment strategy," focusing on chip design, manufacturing equipment, and advanced packaging [11][13]. - The firm collaborates with top research institutions like the Chinese Academy of Sciences to drive innovation in the new energy sector, emphasizing early-stage involvement in research [14][15]. Strategic Vision - Haisheng Capital aims to become a respected investment institution, prioritizing value creation over mere financial returns [19][21]. - The company is currently focusing on two major structural opportunities in the tech sector: mergers and acquisitions, and the globalization of high-tech industries [21][22]. Future Directions - The firm plans to enhance its core strategy by focusing on controlling investments and driving industry upgrades through capital [23][24]. - Haisheng Capital is actively scanning for quality overseas investment opportunities and collaborating with industry leaders to expand into global markets [24].