Core Viewpoint - The current transformation and upgrading of the Chinese economy, along with the deepening reforms in the capital market, are creating significant investment opportunities in equity assets [1] Group 1: Fund Performance - The A-share market experienced significant fluctuations after a strong opening on October 8, 2024, drawing attention to market trends [1] - The Guotai Jintai Flexible Allocation Mixed Fund, managed by fund manager Li Hai, achieved returns of 28.77% and 42.98% over the last 3 and 5 years, respectively, significantly outperforming the benchmarks of 2.07% and 11.13% [1] Group 2: Investment Strategy - Li Hai, with 14 years of experience in the securities industry and 9 years in investment management, employs a bottom-up stock selection approach complemented by mid-level industry analysis [2] - The investment philosophy focuses on identifying undervalued quality companies due to temporary challenges, with a strong emphasis on risk control through stock selection [2] - Li Hai avoids market fads and high premiums, maintaining a lower price-to-earnings ratio compared to industry peers [2] Group 3: Market Outlook - Following the uncertainties from the "reciprocal tariffs" incident in April 2023, Li Hai sees a more certain outlook for the Chinese market, supported by positive changes in decision-making and a decrease in risk-free interest rates [3] - Chinese core assets, particularly represented by the CSI 300 and the CSI A500, are viewed as significantly undervalued, with expectations for revaluation driven by economic recovery and supportive macroeconomic policies [3] - Li Hai's investment strategy for the consumer sector includes focusing on "new consumption" as a spearhead and "old consumption" as a shield, anticipating significant market potential and recovery opportunities [3] Group 4: Team and Culture - Guotai Fund, one of the earliest public fund management companies in China, emphasizes active equity management and has cultivated a culture of proactive research and investment [4] - The Guotai Jintai Flexible Allocation Mixed Fund will continue to utilize a strategy of "in-depth research + contrarian investment" while strictly controlling risks to capture growth dividends from quality companies [4]