The new dynamic and flexible hybrid securities investment fund adheres to the concept of value investment, deeply digs into industries and companies that meet the needs of economic restructuring, industrial upgrading and great development potential, and emphasizes the verification of research logic and conclusions through field research in upstream and downstream industrial chains; At the same time, based on the behavioral characteristics of China's capital market, we should flexibly use a variety of low-risk investment strategies to grasp the investment opportunities brought about by market pricing deviation.

(1) stock selection strategy

The Fund pays attention to the combination of qualitative and quantitative research methods, and uses anxin fund's three-factor analysis method to study the investment value of listed companies, that is, to analyze and evaluate the investment value of listed companies from three aspects: profit model, competitive advantage and industry development environment, to tap the stocks with good cash flow, strong profitability, undervaluation and good growth, and to build a stock portfolio.

Qualitative analysis: a. Whether it has a leading business model and business philosophy, whether it has a supporting internal management and operation system, and whether the corporate governance structure is sound; B whether the competitive advantage depends on the control of business license, or brand, resources, technology, cost control or marketing mechanism, etc. ; C. Whether the industry development is in the rising stage of the life cycle and whether it is integrated with the macroeconomic development trend.

Quantitative analysis: Based on the conclusion of qualitative research, this paper quantitatively analyzes the growth rate of main business income, gross profit margin, operating profit, PEG, asset turnover rate and operating cash flow, and estimates the intrinsic value of listed companies' stocks by using absolute valuation methods such as DDM model and DCF model, and compares them with relative valuation methods such as P/E ratio, P/B ratio and P/B ratio.

(2) event-driven strategy

The Fund will also use event-driven strategy investment to comprehensively analyze and statistically mine the major event factors that affect the current or future value of listed companies, and find those stocks whose values are not fully recognized by the market as alternative investment targets, and make arrangements in advance in combination with market hotspots and index operation trends before the events become clear. These events mainly include: irrational sharp decline of individual stocks or stock indexes, potential high turnover of annual reports, increased holdings of executives, and adjustment of index constituent stocks.