On December 17, the last investment salon of Oceanpine Capital 2021 was successfully concluded in China Century Building. We were honored to invite three top industry experts -
Dr. Yuyin Zhan, Chairman of E-Funds Management Company, Mr. Jinrong Zhao, Chairman of NAURA Technology Group, and Dr. Yuhui Liu, Professor of the Institute of Economics, Chinese Academy of Social Sciences and invited economist of TF Securities.At present, the increased hostility between China and the United States, geopolitical complexity and the general environment of China's domestic economic restructuring and social transformation have led to drastic changes and panic in the A-share market and Hong Kong stock market, including Chinese stocks, as well as uncertainties brought about by the development of the industry. The three experts gave an in-depth interpretation of these issues from three perspectives: China's macroeconomic environment, semiconductor industry development and investment strategies in the secondary market, and looked forward to the new investment trends in 2022.
Dr. Yuhui Liu says that China's socio-economic and social operations are in an era of great change. From the three dimensions of era, cycle and governance, they are all full of factors of grand narratives. In this environment, individual factors become insignificant, and only by integrating into the flood of grand narratives can we build a cognitive logic.
The coexistence of China and the United States is an objective existence and a fact that must be accepted. Because the objective existence determines that the G2 has been each other's greatest constraints, on this basis, to explore the future of a new order, a new equilibrium, that is, co-governance. The so-called coexistence and co-governance can be interpreted concretely as an exchange of some benefits to China, which can help expand the U.S. money printing space. These benefits may be a combination of core political interests, industrial interests, economic interests, and global climate governance. For example, at the Global Climate Governance Conference, China and the United States will jointly develop rules through the G2.
Mr. Jinrong Zhao gave an in-depth analysis of the impact of the Sino-US geopolitical game on the semiconductor industry, the outlook of domestic equipment manufacturers such as NAURA Technology to realize localization substitution, the views and expectations of the current core shortage cycle and the next semiconductor cycle, as well as the future investment opportunities in the semiconductor industry and other hot issues of the day.
He said that more than ten years ago China's PV equipment are imported, with the reshuffling of the PV industry reorganization, at present Longi, Tongwei Group and other companies have become the industry leader, Chinese PV enterprises rely on the huge volume to support the independent innovation of the whole PV industry chain. And equipment autonomy will bring the process synchronization of independent development, if the whole industry chain of localization of collaborative innovation, foreign manufacturers to catch up with China in the field of photovoltaic will be very difficult.
Mr. Yuyin Zhan expressed his gratitude for the invitation to participate in the Oceanpine Salon. He introduced the reasons for the rapid development of E-Funds, the differences between China's funds and international head funds, and had an in-depth discussion with the audience on the trend of the return of Chinese stocks, how to manage risks and make good investment decisions when facing many investment opportunities in emerging companies.
He said that 20 years since its establishment, the management scale of E-Funds has reached 2.6 trillion, which is the result of the rapid development of China's capital market and wealth management market, which is an important external condition for E-Fund's rapid development. He also emphasized that investment decisions themselves need to be dynamic and changing, but must have their own definitive investment framework and underlying logic. Investors need to generate their own methodology, philosophy and strategy in the process of change, and get rid of path dependency.
Source: Oceanpine Capital
