Core Insights - OnePlus is adopting a focused "anti-consensus" strategy to carve out a unique growth path in a slowing smartphone market, emphasizing a "Performance Ultra" product strategy aimed at young gaming enthusiasts [1][2][7] - The company reported a 36.7% year-on-year growth in Q3 and expects to approach a 50% growth rate for the year, driven by a clear and aggressive business logic targeting a specific user group [1][3][7] Product Strategy - OnePlus is prioritizing user experience by focusing on performance and gaming, opting for a 1.5K+165Hz screen instead of a traditional 2K display, which is seen as a better fit for user needs despite some controversy [2][3] - The decision to remove the Hasselblad branding from the OnePlus 15 does not compromise its imaging capabilities, as the company maintains a strong focus on color and aesthetic quality [4][6] Pricing and Cost Management - Despite rising supply chain costs, particularly in memory components, OnePlus is committed to its zero-profit pricing strategy for hardware over the next three years, prioritizing user experience and scale over immediate profitability [3][4] - The company aims to set the most sincere prices while ensuring product quality, reflecting confidence in its growth trajectory [3][7] Brand Synergy and Market Positioning - OnePlus emphasizes that its collaboration with OPPO does not hinder its market strategy, as both brands target different user segments, allowing for a clear product definition without compromise [4][5] - The company is focused on maintaining its identity and product strategy, ensuring that its offerings remain distinct from OPPO's flagship products [4][5] Future Outlook - OnePlus plans to deepen its focus on gaming and performance, considering new product categories only if they align with its core user base and scenarios [5][6] - The company is collaborating closely with Qualcomm to launch the next-generation Snapdragon 8 flagship chip, which has been co-developed over two years, indicating a commitment to innovation [6][7]

Core Insights - The article emphasizes the importance of having a few standout projects in an investor's career, with Yushu Technology being one of them, showcasing the journey of investment and growth alongside the company [3][4][6]. Investment Journey - In October 2017, the company identified Yushu Technology through reports highlighting its competitive pricing and performance compared to Boston Dynamics, which was a significant opportunity in the robotics sector [4][5]. - The initial meeting with the founder, Wang Xingxing, revealed his deep understanding of cost and pricing strategies, which impressed the investment team [4][5]. - A critical mistake was made by the company in not investing early due to biases regarding the founder's educational background, which led to a reevaluation of their talent assessment model [6][8]. Strategic Insights - Yushu Technology's strategy of offering products at "10 times better price" compared to competitors established its market dominance and facilitated the widespread application of its robots [5][10]. - The company adopted a differentiated technological approach by focusing on electric motors rather than hydraulic systems, balancing performance with manufacturability [10][11]. - A flexible delivery model, akin to crowdfunding, allowed Yushu to validate demand and maintain profitability despite initial funding challenges [10]. Expert Network Development - The company has been actively mapping top AI talent and leveraging endorsements from experts in the field, which has strengthened its market position [7][8]. - The emphasis on building a network of true experts and understanding genuine market needs has become a cornerstone of the company's investment philosophy [8]. Market Validation - By 2023, Yushu Technology had achieved significant revenue, primarily from international markets, which was validated through direct observations of its products in leading AI laboratories [9][10]. - The company’s commitment to real-world validation of its products has led to a stronger investment stance, rejecting offers to sell shares in favor of long-term holding [9]. Conclusion - The journey with Yushu Technology has reinforced the value of counter-consensus thinking and long-term investment strategies, highlighting the importance of staying true to foundational principles in the face of market challenges [12][14].