Core Viewpoint - The essence of investment is a combination of "science" and "art," where quantitative analysis handles objective market rules, while active management addresses the qualitative aspects that cannot be quantified [2][5]. Investment Philosophy - The focus of investment should be on achieving absolute returns rather than outperforming benchmarks, emphasizing the importance of making profitable trades [2][8]. - The "three-price scoring system" (buy price, extreme bottom price, sell price) is designed to control 60%-70% of market volatility, ensuring absolute returns while managing risks [3][9]. Investment Strategy - The investment approach includes dynamic adjustments based on quarterly earnings reports, allowing for long-term holding of growth stocks and strategic buying/selling of cyclical stocks [3][11]. - The system encourages disciplined behavior among fund managers, helping to mitigate irrational actions during market fluctuations [3][17]. Quantitative and Active Management Integration - The integration of quantitative models with fundamental analysis allows for a comprehensive investment strategy that captures market trends while maintaining a focus on fundamental value [6][18]. - The collaboration between quantitative and fundamental teams results in a robust modeling process that enhances investment decision-making [11][19]. Market Outlook - The current market environment is characterized by high volatility, necessitating a focus on pricing principles to achieve absolute returns [9][23]. - The expectation is for a stabilization in the market, supported by improved fundamentals, particularly in capital expenditure and export sectors [24][23]. Team Management and Culture - The management philosophy emphasizes rule-based guidance and collaboration among team members to enhance investment outcomes [26][28]. - The focus on absolute returns in performance evaluation encourages a culture of accountability and continuous improvement within the investment team [26][30].