Core Insights - The article reflects on the challenges and lessons learned from the journey of a company in the Hong Kong capital market, emphasizing the importance of understanding market dynamics and the need for sustainable value creation through industry fundamentals [1][5][14]. Group 1: Company Journey and Market Challenges - The company began its journey in the automotive parts manufacturing sector, acquiring a struggling state-owned enterprise in 2005 and successfully listing on the Hong Kong Stock Exchange in 2011, despite facing a harsh market environment [2][3]. - Initial public offerings were difficult, with the company raising less than 100 million HKD, which was insufficient for its operational needs, leading to low trading volumes and market capitalization stagnation [2][4]. - A strategic shift occurred in 2015 when a strong investor joined, providing significant capital and resources, allowing the company to transition from manufacturing to the education sector, resulting in a dramatic increase in market capitalization from under 1 billion HKD to over 40 billion HKD by 2018 [3][4]. Group 2: Lessons on Value Creation and Management - The experience highlighted that rapid expansion without solid internal governance can lead to vulnerabilities, as seen when the company faced a crisis due to external factors and poor strategic decisions, resulting in a market value drop of over 90% [4][5]. - The article emphasizes that sustainable value creation is rooted in industry fundamentals, and that capital markets reward companies that respect these principles [6][9]. - A long-term perspective and compounding philosophy are crucial for both business growth and personal development, suggesting that true value growth comes from strategic focus and time [7][10]. Group 3: Strategic Insights for Future Growth - The company advocates for a shift from a "billion" mindset to a "trillion" vision, encouraging businesses to think beyond immediate profits and focus on long-term industry evolution and capital integration [12][14]. - Effective market management is described as a systematic approach that combines strategic planning, sustained growth, and robust governance, essential for navigating market cycles [13][14]. - The establishment of the Hong Kong Small and Medium-sized Enterprises Association aims to support companies in navigating the capital market, leveraging AI to enhance financing capabilities and market visibility [15][16].