Bel Air Asset Management Co., Ltd. is an asset management company that adheres to the concept of "long-term doctrine" and focuses on value investment. The company is registered in Hengqin New District, Zhuhai, and its office location is located in Nanshan District, Shenzhen. We are an entrepreneurial team with a composite academic background in finance, science and engineering (although we have been established for seven years, every year is "Year One"). Through in-depth fundamental research and professional value investment methods, we hope to find outstanding companies with extraordinary growth potential and long-term value creation on a global scale, and grow together with the companies. The company's core team members all have study experience in first-class universities at home and abroad, and work experience in large international financial companies (investment banking, asset management, etc.). By strictly adhering to the value investment concept, they have achieved long-term and stable investment results in the securities markets of China and overseas. Compared with traditional private equity firms, Belair has many differences. In terms of management, the company focuses on long-term development and rejects many investors with different concepts; the company adopts an enterprising incentive mechanism, and the main proportion of the product performance commission is used to reward the investment research team (fund managers and researchers); the company has set up a leading interest binding mechanism, in which most of the fund managers 'liquid assets are invested in the products they manage, we eat what we cook. In terms of investment, the secondary market private equity products issued by the company have been running steadily for more than seven years, and their performance is highly competitive; many invested companies have held positions for more than seven years (our turnover rate is much lower than that of our peers). For most of these seven years, the profit and cash flow growth of the invested companies was better than that of the Shanghai and Shenzhen 300 Index companies (median comparison); at the same time, the company's products have set up highly competitive management fees and commissions. Mechanism, we hope to focus on creating long-term value for customers, rather than collecting management fees by expanding the scale. The company's long-term investment cases include: AAPL, META, PDD, Tencent Holdings, Midea Group, and China Merchants Bank (Note: It is a case reference only and does not mean that the company currently holds it. Even if it is currently held, it may not always hold it.)(Note: It is only a case reference and does not mean that the company is currently holding it. Even if it is currently held, it may not always hold it.)