After the market has undergone a correction following the earlier period of valuation expansion, structural opportunities still exist amid the recovery of the broader economy. The low base effect is expected to drive high earnings growth for companies, making the capital markets in Greater China region attractive at this stage. The current divergence in market sentiment primarily stems from valuation concerns. Therefore, a key focus for future investment will be how fund managers avoid overvalued companies with subpar earnings growth and instead select reasonably valued stocks with the potential to outperform earnings expectations. This principle is particularly critical when investing in technology stocks. Today, Jing Ran, Investment Manager at华夏基金 (Hong Kong), will share insights and experiences accumulated through years of investment practice.
About Jing Ran: Senior Vice President and Investment Manager at 华夏基金 (Hong Kong), Jing Ran graduated from Shanghai University of Finance and Economics with a Master’s degree in Statistics and a Bachelor's degree in International Accounting. From 2012 to 2017, he served as a securities analyst and fund manager at 华夏基金 (China Asset Management Co., Ltd.). In 2017, he joined 华夏基金 (Hong Kong) and currently manages two China equity portfolios. He specializes in fundamental research and possesses a solid framework for macroeconomic, industry, and company analysis. His investment approach focuses on identifying two types of 'growth' within the technology sector: First, eco-system internet giants exhibiting 'stable growth', where he delves into their valuation attractiveness and industrial value-added potential to benefit from digital transformation dividends. Second, 'new + disruptive' technology firms characterized by 'explosive growth', where he closely tracks their R&D progress and explores untapped possibilities in unknown domains. On the fast-paced technology track, he strives to deliver both 'speed' and 'stability' in investment returns.