Lesson 4 of Xicheng Venture Capital Lecture Hall

　　On the afternoon of March 17th, the fourth class of the "Xi Venture Capital Lecture Hall" began, with Liu Bin, Chief Analyst of the Automotive Industry at Oriental Wealth Securities, sharing the research course "Investment Framework for the Automotive Industry". Mr. Liu Bin analyzed the expected differences and characteristics of the automotive industry. "The automotive industry involves multiple disciplines such as materials and machinery, with a long industrial chain and high value. Understanding the underlying logic beneath the iceberg of the automotive industry is an important lever for understanding the future evolution of the industry." He pointed out that the demand side of commercial vehicles mainly considers the investment return ratio, and needs to focus on macroeconomic development, industrial policy development direction, new formats, new economy, new models, and industrial development cycle characteristics. This training was full of practical knowledge, which gave the participating employees a deeper understanding of the current stage, investment opportunities, and future prospects of the automotive industry, and also aroused the company's business team's enthusiasm for learning about industry research.

　　After the training, Xi Venture Capital held its first round table meeting on venture capital, with co president Guo Bingyu and deputy secretary of the Party branch Liu Yan participating in the exchange. Dual carbon energy conservation, capital markets, integrated circuits, strategic investment teams, and fund management departments exchanged and shared on three themes. Other business teams and employees from the middle and back office departments also actively participated in this roundtable discussion.

　　The most important link in the automotive industry chain

　　Top 3 in the automotive industry in my mind

　　Can new energy vehicles replace traditional industry vehicles

　　The format of this roundtable discussion allowed all participants to brainstorm with an equal and open mindset. The participating departments and teams actively share their understanding and prospects of the automotive industry, jointly explore investment ideas for the industry, and have positive significance in expanding employees' thinking horizons, improving business quality, and enhancing team integration.

　　The "Venture Capital Faction · Roundtable" is an important component of the "Xi Venture Capital Lecture Hall" project, aimed at integrating "intellectual" resources such as company executives, core teams, and industry experts. Through roundtables, sharing salons, investment research summits, and other forms, it helps employees understand the latest industry trends and development, appreciate the management and investment experience of "experienced people", cultivate a high-quality and capable professional talent team, and achieve mutual growth and progress between enterprises and employees.