Core Viewpoint - In a volatile capital market, "stability" has become a core demand for investors, with a focus on deep value investment and strict adherence to investment discipline, as demonstrated by the performance of the fund managed by Cai Zhiwen, which achieved a cumulative return of 17.81% since its inception in February 2023, outperforming the benchmark of 13.14% [2][3]. Investment Philosophy - The investment philosophy of the company emphasizes deep value, focusing on selecting high-quality securities through in-depth fundamental analysis, aiming for sustainable long-term growth and stable returns [5][6]. - Cai Zhiwen's investment framework is rooted in the belief that deep value investment involves buying quality companies at reasonable prices and holding them long-term, utilizing a three-dimensional screening process based on industry, company competitiveness, and governance [5][7]. Investment Strategy - The company actively seeks sectors with upward fundamental trends, prioritizing industries in a growth phase, regardless of whether they are traditional sectors [6][7]. - The focus is on companies with "non-replicable" competitive advantages, ensuring long-term profitability through strong competitive barriers [7][8]. - Governance is a key consideration, with a preference for companies that reward shareholders and maintain transparent information disclosure [7]. Risk Management - A three-tier risk control system is established to manage drawdowns, integrating risk control into the entire investment process, with a strong emphasis on pre-investment screening [15][16]. - The selection of stocks for the "Fixed Income+" product is more stringent, favoring large-cap, low-volatility leaders to mitigate risks associated with smaller, more volatile stocks [16]. Research Methodology - The company employs a rule-based research methodology, focusing on data-driven analysis and avoiding speculative trends, aligning with the risk-averse nature of "Fixed Income+" investors [10][12]. - Two independent stock selection systems are utilized: one focusing on value growth and the other on absolute value, ensuring a stable value base while capturing growth opportunities [11]. Platform Support - The company's investment strategy is supported by a vertically integrated research platform that fosters collaboration among fund managers and researchers, enhancing the depth and breadth of research [20][21]. - A data science team monitors investment strategies and fund manager styles to ensure sustainable performance and mitigate style drift [20][21].