Core Viewpoint - The investment philosophy of Fusheng Asset emphasizes performance-driven investment, focusing on identifying opportunities through objective analysis and understanding market dynamics [2][7][22]. Investment Strategy - Fusheng Asset has consistently adapted its investment strategy to market conditions, successfully identifying major growth stocks in various sectors over the years, including new energy, coal, oil, and consumer goods [2][3][4]. - The firm emphasizes the importance of understanding supply and demand dynamics, with a focus on scarcity as a key factor in stock selection [3][4]. Key Investment Themes - The concept of "female consumer population dividend" has been highlighted as a significant investment opportunity, with increasing willingness among female consumers to pay for emotional value [3][10][19]. - The firm has successfully identified and invested in stocks related to new consumption trends, such as trendy blind boxes, ancient gold, and gaming stocks, which cater primarily to female consumers [11][12][21]. Performance Analysis - Fusheng Asset's investment decisions are driven by performance metrics, with a clear strategy of buying undervalued stocks based on dynamic valuations and selling when valuations exceed 35 times [4][22]. - The firm has demonstrated a disciplined approach to investment, avoiding speculative trading and focusing on companies with strong fundamentals and performance [4][22]. Market Outlook - The firm maintains an optimistic outlook on the market, citing undervalued currency and signs of economic recovery as potential catalysts for growth [30][31]. - Fusheng Asset is cautious about investments driven solely by liquidity without fundamental support, emphasizing the importance of valuation in investment decisions [31][32].