Core Viewpoint - The article emphasizes the importance of long-term investment strategies and the commitment of Xin Yuan Fund's manager, Lu Yang, to create sustainable value for clients through a disciplined investment approach [1][2]. Investment Philosophy - Lu Yang's investment philosophy is rooted in a long-term perspective, viewing fund management as a business focused on generating long-term returns for investors [2]. - The investment strategy is based on the "first principles" of investing, prioritizing the allocation of funds to high-quality companies to optimize capital deployment and enhance clients' financial well-being [2]. Investment Criteria - The investment logic is defined by three key standards: good business, good company, and good price [3]. - "Good business" refers to ensuring that investments yield appropriate returns, with a benchmark of a real asset return rate exceeding 10% [3]. - "Good company" involves assessing a company's ability to sustain profitability through its culture, strategic planning, and adaptability to market changes [3]. - "Good price" emphasizes rational valuation judgments, focusing on acquiring growth companies at reasonable prices and value companies at undervalued prices [3]. Sector Focus - Lu Yang has concentrated his investment efforts in the manufacturing sector, favoring companies with lower valuations compared to peers, demonstrating patience and discipline in investment choices [4]. Risk Management - The core of long-term wealth accumulation lies in adhering to a robust investment strategy that prioritizes safety and risk control [5]. - Lu Yang has developed a consistent method for risk mitigation, avoiding unfamiliar sectors and market trends, maintaining low turnover rates to ensure stable and predictable returns for investors [5]. Performance Metrics - The performance of managed products reflects this investment philosophy, with the Xin Yuan Digital Economy A product showing a maximum drawdown significantly lower than the industry average, alongside a steadily increasing net value trend [6]. - As of the report, the Xin Yuan Digital Economy A has achieved a return of 41.74% over the past year, while the Xin Yuan Specialized and Innovative A has returned 30.03% in the same period [6].