Core Viewpoint - The investment philosophy of Yang Shijin from Xingzheng Global Fund emphasizes a gradual and steady approach to investing, focusing on understanding societal development patterns and maintaining rationality in decision-making [1][2]. Group 1: Investment Philosophy - The investment strategy is anchored in valuation, with growth as a fundamental aspect and innovation as a driving force [1]. - Yang Shijin believes that understanding the laws of societal development is crucial for successful investing, which includes historical trends, industry evolution, and technological advancements [2]. - The investment framework is derived from a deep understanding of societal changes, with a focus on balanced allocation and diversified investments to achieve risk and return equilibrium [2]. Group 2: Performance and Focus Areas - Since taking on the role of fund manager in 2021, Yang has prioritized sectors such as pharmaceuticals, new energy, and technology, while also investing in cyclical stocks to maintain stable portfolio performance [2]. - As of March 31, 2025, the Xingquan Multi-Dimensional Value A Fund achieved a net value growth rate of 23.58% over the past year, outperforming its benchmark by 8.79 percentage points [2]. Group 3: Stock Selection Criteria - The stock selection process involves assessing the value a company brings to society and its customers, evaluating the growth potential of the business, particularly through penetration rates, and determining the presence of competitive advantages [3]. Group 4: Growth Environment - Xingzheng Global Fund provides a conducive environment for talent development, allowing fund managers to explore various investment philosophies and methods without strict limitations [4][5]. - The company fosters open communication between fund managers and researchers, facilitating a collaborative atmosphere for growth and learning [5].