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This video is one hour long, summarizing all the essence of Duan Yongping's wisdom. No

words are needed. Please watch patiently. I guarantee you will have enough time.

All the videos are divided into investment methods, investment cases, business wisdom, and human behavior.

What is the most important thing you learned from Parfait? The most basic thing I learned from him is that when I buy a stock, I am buying this company or this part of the company. Then Buffett emailed me and said, "What you said is exactly what I learned from my teacher. And

this changed my investment. It changed my whole life." What are the characteristics of a good company? The good company has a characteristic. The good company basically says everything clearly. The bad company says a few pages and can't say it clearly.

everything clearly. The bad company says a few pages and can't say it clearly.

You don't know what he's doing. Why is it easy to invest but not easy? It's easy because you have to

not easy? It's easy because you have to understand the company, you have to understand the business, you have to understand the future of the cash flow. It's hard to do this. Most companies are not easy to understand. What is the most important thing in

this. Most companies are not easy to understand. What is the most important thing in investment? The most important thing is that you don't lose money. It's not

investment? The most important thing is that you don't lose money. It's not

that you have to get such and such an opportunity. Opportunities are always there. It's

just that you have limited ability to seize opportunities. Buying stocks is buying companies. How

should you understand this sentence? When you buy a stock, it's like buying your own company. So you must understand its company. What does it mean to understand? You

company. So you must understand its company. What does it mean to understand? You

must understand its value. What is your investment secret? Investment is very simple. I

secret? Investment is very simple. I

think it's All stocks have only one real buyer. How do

you understand this? Only one

real buyer is the company itself. It is based on its

itself. It is based on its profit to buy it back. But there are many ways to extend the change. So as long as the company makes money, and you get it, it has to buy it back. Maotai has this problem. In the end, it has to split the money. You buy it yourself. Or

problem. In the end, it has to split the money. You buy it yourself. Or

it repurchases. I think Maotai should have repurchased it long ago. But it finally started to repurchase a little bit. He can't afford it. He has too much money. He doesn't know where to spend it. He just buys his own

much money. He doesn't know where to spend it. He just buys his own stock. "Do the right thing, do the right thing." How does this word apply in

stock. "Do the right thing, do the right thing." How does this word apply in investment? "Do the right thing" refers to some principles. He will teach me some things.

investment? "Do the right thing" refers to some principles. He will teach me some things.

Don't do things you don't understand. Don't do nothing. Don't borrow money. How to do things right? When you have money in your hand, but you don't have a

things right? When you have money in your hand, but you don't have a good goal, what should you do? The current approach should be like this.

You say, maybe you want to buy a stock, or you want to buy a country. When you don't have money in

country. When you don't have money in your hand, but you find a good investment goal, what do you do? You can't borrow

you do? You can't borrow money. I think investment is as much as possible

money. I think investment is as much as possible because you invest in value. But once you invest, you will be affected by the price. For example, because the market is fluctuating very much. If you are

price. For example, because the market is fluctuating very much. If you are affected by the price, it forces you to go to the store or something.

You may be doing the wrong thing with the original money. How do you deal with the already existing stock when it falls? It's really a good business.

If its price drops, if you still have money, you can buy more.

If not, you just put it on the side and leave it alone.

In your eyes, what kind of person is Buffett? This person is definitely a very smart and sensitive person. So he has a very strong pursuit of things. He

has a very strong pursuit of things. Including looking at people, looking at things, his long-term vision is very good. But it's not like you think he has three heads and six arms. And this person is very simple. Do you think Bavita is an ancient god? I don't think he's an ancient god. He made mistakes anyway. He's

still a Kharasasaya. How can he be a god? So I think he's the same as us. He's a common man. But he's doing a little bit of the right

as us. He's a common man. But he's doing a little bit of the right thing. He's been holding on for a long time. And because of his experience and

thing. He's been holding on for a long time. And because of his experience and his materiality, he made fewer mistakes than us. So he's great. And in

fact, Bavita is not as rich as I am.

Okay.

I heard that Bavit wants to see your blog, right? He said,

do you have an English version of your blog? I said, yes. Warren, you

know my English, right? How could I write in English? I wrote it in English. He said, oh. Barfitt often reads a lot of financial reports. Does

English. He said, oh. Barfitt often reads a lot of financial reports. Does

that mean he can invest if he understands financial reports? Watching financial reports is a necessary thing, but it's not a sufficient one. Watching financial reports is a premise. After

watching financial reports, can you decide to invest? Not necessarily. But if you don't look at the financial report, you'll be in a panic. But is it necessary to look at the financial report to be able to vote? Not necessarily.

So he invested, he didn't have a very absolute formula. If there is, everyone can do Barclay. Investing not only depends on the business model of a company, but also depends on the corporate culture of their company, that is, depends on the person. So how do you specifically look at people?

If I look at a person, I will look at, and now it is also convenient to have Google, I will look at everything he has said in the past, you search and it comes out. Then look at whether he has done it later. Do you understand what I mean? Then you listen to what he said,

later. Do you understand what I mean? Then you listen to what he said, see the articles he wrote, see the tone of his speech, you will understand one side. But you can never fully understand one side. Which company do you

one side. But you can never fully understand one side. Which company do you want to invest in? The biggest feature of my investment is that it is related to our life. You let me invest in a company I don't dare to invest in a company that has no feelings at all. Do you

invest in a new company that has just been listed? Generally speaking, if it is a company that has just been listed, or a company with only a few years, three years, two years of history, it generally does not invest. It generally has at least ten years of history. It can be investigated very clearly. How to quickly judge whether a company is worth long-term possession? Basically, I don't really know. Look at

the past ten years. It's just a few companies. That is also what I have shown for many years, for enterprises, for businesses, for products, for all kinds of things. I have never seen anyone who can do it so fast, including

of things. I have never seen anyone who can do it so fast, including Warren Buffett, or Mongo. In fact, investors are all very good. We don't care about losing some opportunities, but the most important thing is that you don't lose.

去踩雷,对吧? 其实我也想赚块钱,谁不想赚块钱?

但是呢,知识不可为很重要。 请你讲讲适应率估值法。

适应率是讲的在某一个时刻 你比方说他这一次搞一个单笔冲销某个东西 当前的适应率可能会突然就上去了,对吧? 它因为决定投资不是由PE来决定的,

当前的适应率可能会突然就上去了,对吧? 它因为决定投资不是由PE来决定的, 是由你未来的现金流来决定的。 你关键看你未来的这个,

是由你未来的现金流来决定的。 你关键看你未来的这个, 我不能跟你讲就是说 它PE要是到了50倍我就要卖。

什么是长期投资? 长期投资就是当你发现这个, When the price is lower than the value You should take it in your hand But you don't know the time So sometimes it takes a long time Because the market finds Or reflects the value of this stock It takes a long time Please talk about the relationship between value investment and long-term investment Investment is to sell I think

a lot of people have a big misunderstanding about the so-called value investment You can't sell it if you want to hold it for a long time Holding it for a long time is a 时间其实也不会很长。

I have the most personal experience of 3 years. Why 3 years? Because

I have never seen more than 3 years. Why do you invest in a small amount of money? Investing is also very simple. I use a small amount of money. I put a little money in it. That's it. If something goes wrong, I

money. I put a little money in it. That's it. If something goes wrong, I will not be able to eat the next day. Or I can't sell cars or houses. Or I will be declared bankrupt. What is your expected return on investment?

or houses. Or I will be declared bankrupt. What is your expected return on investment?

The biggest feature of investment is that you can't set a goal for yourself.

How do you see the difference between central investment and distributed investment?

Investment is actually that you go to a good company and then you invest your money in a company you think is the best. Many people say don't put eggs in one basket.

So what do you think of distributed investment? Do

distributed investment? Do you like concentrated investment or distributed investment? I'm very

investment? I'm very concentrated. You will be very focused. How many stocks will you hold at the same

concentrated. You will be very focused. How many stocks will you hold at the same time? Today, all the Warren Buffett stocks can only hold a dozen or so.

time? Today, all the Warren Buffett stocks can only hold a dozen or so.

Like my video. Two or three. Right, it's not easy for me to hold two or three. Then why should I hold a dozen or so? Of

course, I started to try. I also had a process of holding a dozen or so. But I found that I could not do it at all. Because

or so. But I found that I could not do it at all. Because

you can't understand. Will you buy stocks? I am a full-time investor. If I

don't buy a stock, I will feel uncomfortable. It's hard. You

copy the 8th grade homework.

It's okay. The 8th grade homework is all anonymous. How

do you copy mine? I don't

publish my knowledge.

其实没有本质的差异 做投资是要跟像做实业一样去做

Right?

这对每个人来讲都一样 就说你在自己运营的东西 大部分你可以 有些东西你亲眼能够见 你不要说做企业很简单 我们打交道的人 那都可能已经打了很多年的交道 对吧 那做投资 你可能你发现一个公司 这公司在运作的这些人 你可能对他们并没有很深入的了解 那么根据你现在得到的资料

你可能觉得还不错 各方面看起来也都不错 你就投入了 What is the similarity between investment and golf? Golf is

the most important thing. Your whole performance.

It's not about how beautiful you are. This is the same as investment.

If you have a stock that has doubled in value, but you only invested 1000 yuan, it's meaningless. The remaining 99,000 yuan is lost. No matter how much money you earn, it's meaningless. So the most important thing is to look at your whole. So the most important thing is to make fewer mistakes. instead of

your whole. So the most important thing is to make fewer mistakes. instead of

saying that you must do a certain project beautifully. I think this is a very good understanding of my investment. Because sometimes we pay too much attention to the success or failure of a certain project, and we are too nervous, but we often ignore the overall thing. What do you think the macroeconomic

impact of investment has? Investment, from my point of view, is not particularly influenced by big things.

- 它不受大市的影响。 投机和投资的最大区别是什么?

它不受大市的影响。 投机和投资的最大区别是什么?

投资和投机者有一个最大的区别 就是说你是在动用很小部分钱 还是在动用很大一部分钱。 这是其一。 其二呢, When the stock

还是在动用很大一部分钱。 这是其一。 其二呢, When the stock price drops, you see their attitude. It's the opposite. If the real investor, when the stock you invested in drops, you will often feel happy. I still

have a chance to buy a cheaper price. If I still have money, right?

The investor is different. The investor's idea at this time is, wow, this company must have done something. Hurry up and sell it. So the investor is mostly the leader.

When investors realize that the investment can't make money, how can they turn investment into investment? You have to look at the whole Warren Buffett thing. But I've

investment? You have to look at the whole Warren Buffett thing. But I've

met a lot of people for so many years, and I've said I've seen Warren Buffett's stuff. Do you understand? I didn't dare to question him. Because what he

Buffett's stuff. Do you understand? I didn't dare to question him. Because what he did was completely unreasonable to Warren Buffett. But when you say Warren Buffett, I understand what Warren Buffett said. You know, Buffett does not do short-term line. Buffett also does. He does the same as me. It's

short-term line. Buffett also does. He does the same as me. It's

fun. But he doesn't do it in his blockchain hustle. He

doesn't do it in his investment company. He says he has two accounts. One is long-term line and one is short-term line.

accounts. One is long-term line and one is short-term line.

How do you evaluate those who look at the picture and look at the line to make money? Those who look at the picture and look at the line to make money, you are a very good lecher. But he can't get me. What do you

think of A-share? I never said I was optimistic about A-share. I only said I bought 10,000 shares. This is

about A-share. I only said I bought 10,000 shares. This is

a big difference. How do you think of A-share? What

do you think of the future? Our stock is not perfect. There

are many... I think there is still something that should be there. It is

normal that there is nothing there, because it takes a long time, including a large environment, to be built. If you have not seen the Western stock market, for example, the American stock market, you may think that the stock market should be like this. In fact, the stock market is just a very basic thing. For example,

this. In fact, the stock market is just a very basic thing. For example,

Chinese stocks do not have a basis for making empty stocks. So they gave the experts a lot of space to raise it. In the US, because it can be made empty, it is very dangerous to raise it. If you raise it, someone may do it to you. In this way, the stock will be easier to reflect its real value. Is a value investment suitable for China? Do you think China

already has a value investment environment? Value investment is suitable for any place. If someone thinks it is not suitable, it means that he

any place. If someone thinks it is not suitable, it means that he does not know how to invest.

- -

比较大金额的 OK 就是大比重吧 最早是网易 OK 网易 然后Yahoo应该算 但是我后来 其实本质上是投在阿里巴巴 是吧 对对 我Yahoo其实就是想买阿里 对对 这个算一个 后来差不多就到苹果了吧 嗯 Berkshire Hathaway. I don't have much

of a share in Berkshire Hathaway. Apple is bigger. Maotai is also quite big.

Tencent, I think it's still okay. Is it good for memory? Memory is not that good. Is it good for Google? Google is not good. I haven't been on

good. Is it good for Google? Google is not good. I haven't been on Google. I've really been on Zoom. Is it good for Windows?

Google. I've really been on Zoom. Is it good for Windows?

Why are you so lucky to have good companies like NetEase, U-Hao, and Apple? I think

it's not completely luck. Because

I'm not the only one who buys NetEase for one dollar. You can say that buying a $1 stock is luck, but getting $80 is definitely not luck. When you were talking to Buffett, what was the better reason for Apple's business model than Coca-Cola? When I went in,

there were two people sitting on the same table, Warren Buffett and Charlie Munger.

When I got there, a person came over, Bill Gates. The four

of us sat down, and Warren said something. He introduced me to Munger and Bill Gates. He said, this is Pete. My name is Pete. He said,

Bill Gates. He said, this is Pete. My name is Pete. He said,

它告诉我,苹果的生意模式比可乐可乐好,所以我买了很多苹果。

为什么说苹果的生意模式好?

我说你看,你说百事可乐,一般的价钱你就喝百事了。

你知道Android Phone和苹果比它价钱差多少?

你看真正的苹果的用户,who cares? 没有人在乎。

cares? 没有人在乎。

当然它是买了很多苹果,这个跟我没关系啊,那真的是玩笑啊。

但是它卖的,它拿到现在还没卖完,可能跟我是有关的啊。

看得见了。

We are doing this business ourselves, of course I can see it. Where is Apple's corporate culture good? I think they are very user-oriented. They are not a business-oriented company. They care a lot about how to make things good. They care

company. They care a lot about how to make things good. They care

a lot about user experience. They care a lot about how to improve. They

think very long-term. So they can't provide value to users. Or they can't provide products that are worth enough. 你再热门他们也不会做

即便是苹果企业文化很好 他也有可能犯错对吗 犯好最主要的就是他 最终他会走回正道 因为他是有一个 就叫做有一个北斗星在指引着他 他到底该干什么 不是为了生意 其实犯错误的概率 大家其实都差不多的 只是说呢 你犯不犯下去 对吧

还有就是你有没有stop doing it 那我们上了 亲子做的事情 那我们犯这类错误的概率就小了嘛 所以呢我们30年下来我们犯的错误就比其他人少 我觉得其实最主要的就是这个东西 你看我在雪球上不写的那一条嘛 就说人家关心的是我们做过什么

其实我们之所以成为我们很大的原因是因为我们不做的那些事情 - -

Maotai has been formed. If you change the language, your brain will be broken. Maotai is afraid of changing. They are afraid of a new CEO. They

broken. Maotai is afraid of changing. They are afraid of a new CEO. They

are afraid of changing. They are afraid of changing. Maotai has

dropped a lot recently. What do you think of this? Maotai's stock price drop is not equivalent to its The company is not doing well. Actually, it's

very good. We can't buy the wine. We have the right to buy their wine.

The amount is very small. You said that white wine is divided into two types, maotai and other. So what do you think is the difference between maotai and other white wine? The person who likes it likes maotai. He likes that taste. He's used to it. If you want to talk to a group

taste. He's used to it. If you want to talk to a group of people who don't like and don't drink maotai, you can't talk about it. You

can talk about the pleasure of walking on the road with fish. How to talk about it? There is no way. But it's a fact. People who like

about it? There is no way. But it's a fact. People who like to drink Maotai have been drinking it all the time. As long as they can drink it, they can afford it. It's that simple. Many people say that young people don't drink white wine. What do you think of this? Many people say that young people don't drink Maotai. But those who are not young can still live

a long life, right? This is the first and second. Young people have never drunk Maotai. You can't guarantee that they will drink it in the future. It's true that

Maotai. You can't guarantee that they will drink it in the future. It's true that drinking wine is healthy. But it has emotional value. So...

- -

最基本的品质的标准呢 那些最基本的品质的标准呢 他们坚持的是很严的 他是国营企业 国营企业有国营企业的好处 我在国营企业里待过 这些规矩不太有人敢改 太多的人盯着了 所以我觉得他们应该是可以 Pinduoduo has

many negative comments. What

comments. What do you think of Pinduoduo?

When the market went crazy, many people said, "Is this a fraud?" I

said, "I don't know about others, but I don't know about this." They must not be. They said that thing is real. But you don't like that thing. That's

be. They said that thing is real. But you don't like that thing. That's

your problem. This is your choice. And their model is still a bit powerful. Its

quality is gradually increasing. How can Chinese companies do better in globalization? Now China is doing well in globalization. You think it's

globalization? Now China is doing well in globalization. You think it's a crazy idea when you first bought Pinduoduo? So do you still think so now?

Pinduoduo? So do you still think so now?

If it can maintain this business, it's very cheap. The problem is I don't know if

very cheap. The problem is I don't know if it can really maintain it. What kind of things will affect it? But, I trust their culture and team. But I don't know about the big picture. What are your

team. But I don't know about the big picture. What are your expectations for 5 to 10 years after Pinduoduo? They should be doing well. But not 100%. I can say that I know for sure that Apple

well. But not 100%. I can say that I know for sure that Apple will survive. I'm not that sure about Pinduoduo. I think...

will survive. I'm not that sure about Pinduoduo. I think...

The change in this industry is also very big. But there is a possibility that it will be much more powerful than the current one. How did

you judge that it was underestimated when you bought Wang Yi? I remember that Wang Yi had a cash of 2.3 yuan on its front page. When I started buying, the stock price was 8 yuan. After I learned about this company, I found that their products, including games and other things, did not always lose money.

Because I saw the market and the people there, mainly Ding Wei, a senior, I think everyone is not used to spending money. So I think it's easier to see that his cash, because we as investors are simply paying him a discount. If you want to make money, you have to calculate it

today. Is it higher than the current stock price? If it is higher, you can

today. Is it higher than the current stock price? If it is higher, you can start to consider. If it is more than the current stock price, you can buy it. If the price is 5 yuan, and the price is 10 yuan, you can have a double of the market space. Wang Ying doesn't need to calculate. The cash is more than 2 yuan, you can buy it

calculate. The cash is more than 2 yuan, you can buy it at 8 yuan. That is, if someone puts 2 yuan or 3 yuan there, you can buy it at 8 yuan. How did you understand Wang Yi? I was born in the gaming industry. I

Yi? I was born in the gaming industry. I

talked to their gaming team and they said they are very passionate about gaming.

They are very serious. This is the first. Second,

I think the business model makes sense. Plus, its cash is higher than the market value. At that time, as a head of the company, it was easy for

value. At that time, as a head of the company, it was easy for me to buy it. Plus, there was a opportunity at that time. The stock fell to that level. Everyone was panicked and thought they were going to be finished. I

think they probably had a chance to make money. I happened to have some cash on my account. I bought it for a long time. Then it rose 20 times in six months. Of course, I think, how do I say it? Do you think I understand? If I understand, I should buy the

say it? Do you think I understand? If I understand, I should buy the whole network, right? So I don't know what it means to understand this. But I think they can make money. I don't think my investment risk

this. But I think they can make money. I don't think my investment risk is too high. Of course, the money in the account is not a big proportion. It's not fair. Why can you get so much money and not sell

proportion. It's not fair. Why can you get so much money and not sell it? I think those money are not much for me. So I can think

it? I think those money are not much for me. So I can think more rationally about this. If I only have so much money, I can't keep it.

I can't sell it. So keeping it rationally is a difficult thing. Do you

understand him enough when you invest in net worth? I think I've been understanding him slowly. So with the change in his price, I actually understand him

him slowly. So with the change in his price, I actually understand him more and more. If you buy net worth and the stock price continues to fall, what will you do? I think I'll borrow some more money and buy it.

AI is developing very fast now. What do you think of AI? My simple

answer is that it is unrivaled. I do think it is powerful. It is

not very short. Do you think AI is a bubble or an industrial revolution? It

is definitely an industrial revolution. But bubbles always come in half-blood. The

characteristic of bubbles is that 阿嬷阿狗都跟着一起找嘛 就是你现在就是凡事只要你说AI 大家就觉得就呼噜呼噜冲进去就买吧 对吧 但是呢最后会有一些公司 他会在里面确实是会很厉害 因为我们学哲学有个量变到质变的过程

I used to think it was highly variable.

But later I found that they are really powerful. Their ecosystem is really strong.

Look at the cooperation between Invida and OpenAI, and AMD and OpenAI. Look at these two deals, you can see how strong Invida is. Invida invested

100 billion yuan, but it was for its chips. It took its shares, right? AMD said, "I give you chips, I give you shares, please

right? AMD said, "I give you chips, I give you shares, please use me." Do you know the difference now? Of course, now everyone wants

use me." Do you know the difference now? Of course, now everyone wants to use other chips because they are afraid of the monopoly of Nvidia.

太贵了,他们要花好多的钱,因为他们这件事在军备竞赛,所有的这些大厂,AI你要改上去,你都得要去买他的芯片,所以他们是非常的希望再拱出一家来,这样他们可以有个价格,因为半导体这个东西一旦同质化,价格就一下就下来,就没有办法做到这一点,它不是一天两天了,所以他们确实是厉害,然后呢我也看了一下,嗯,

Huang Renxin, I have watched many videos. I really appreciate this person. I think

what he said more than 10 years ago is the same as what he said today. He actually saw it long ago. He has been doing it in that

today. He actually saw it long ago. He has been doing it in that direction. So now you have to think that what he is saying now is still

direction. So now you have to think that what he is saying now is still his recognition of the future. He is still doing it. So I think the first point is to take a look. AI is something that I think at least you have to take a look at it. Don't miss it. If you

miss it completely, it seems a little bit...

How do you evaluate Taiwan's e-commerce?

I think this is a bit interesting, so I bought it. Can you comment on Tesla? I do think Elon Musk is amazing. He has a lot of

on Tesla? I do think Elon Musk is amazing. He has a lot of ideas, and he is really advanced. But I think it's harder to invest. From a

personal point of view, I don't like his character. If you invest, you're actually making friends with him. I don't want to be friends with him. I don't

even want to give him money. So... I don't like it that much. But

I do know that it's really powerful. And there are many things that make sense.

Some things are very unreasonable. You don't know which one to get out first.

This is mainly about this person. What about his business? The electric car business is not very good. It will be very tired. Its differences are very small. But Tesla's electric car is made to differentiate. Most electric car businesses,

very small. But Tesla's electric car is made to differentiate. Most electric car businesses, I think, are very hard. Tesla's... In general, it's really well done. Look, it's not in many styles, right? It's very uniform, and it's very big. So, it's relatively low cost. It's very likely to make money. This is what I did a

cost. It's very likely to make money. This is what I did a long time ago. I wrote Tesla on my blog. I liked Tesla very much in the beginning. You see, my license plate says, We love Tesla. I don't like

the beginning. You see, my license plate says, We love Tesla. I don't like Elon Musk's business. Plus, I bought their car and saw their service. I'm not

satisfied with many things. I sold the stock. Of course, this is a wrong decision. I should have kept it. But I think it's hard. It's really hard. I

decision. I should have kept it. But I think it's hard. It's really hard. I

don't like this person that much. But I respect him. I think he did a lot of great things. Especially, look at him. SpaceX is so cool. It's amazing. Starlink is also amazing. I

cool. It's amazing. Starlink is also amazing. I

don't know about electric cars. I don't like Tesla cars. But I like Starlink. I'm its customer.

cars. But I like Starlink. I'm its customer.

SpaceX is really amazing. It's amazing that it can be so big. It's amazing. It's amazing.

so big. It's amazing. It's amazing.

Why did he not buy Google? He is very familiar with Google's two founders. He

actually knows Google better than I thought.

I went to his shareholder meeting that year. He said, Google Google Google Google Google Google Google Google Google Google Google Google

year. He said, Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google

Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google

Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google

Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google

Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google

Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google

Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google Google how much will AI expect from it, like ChaiGBT, and also Gemini itself?

I don't know how much it is. Although I don't know, I think this company is still good. So I bought some a while ago. Please tell us about your experience of buying Wanke. When I bought it, it was about two yuan.

After it was sold at Zegu, I said this stock is worth ten yuan. Two yuan is too unreasonable. It doesn't make sense. So I bought it. When

yuan. Two yuan is too unreasonable. It doesn't make sense. So I bought it. When

it rose to more than ten yuan, I thought it was really more than ten yuan. Very interesting. People say it's sellable, but it's not. At

that time, I had other needs, so I sold it. Right? What did I sell? From the current results, it proves that I sold it wrong. Because it's

sell? From the current results, it proves that I sold it wrong. Because it's

already more than 20 yuan now, even higher, right? Then I made less than a hundred times more. Then you ask me if I regret it or not. I don't

regret it. Because it doesn't belong to me. I should make money. A pharmaceutical company develops a technology that faces a high uncertainty. So what do you think of this kind of high-risk, high-profit investment? What you said is high risk, but I don't know if there is a high return. I want to know if it has high returns. I can take it. Actually, technology is the same. It

returns. I can take it. Actually, technology is the same. It

has many new ideas. But you can't have a mature business model right away. As a head of the company, it makes sense to do this kind

away. As a head of the company, it makes sense to do this kind of thing. But when you are in the capital, it's more difficult. You

of thing. But when you are in the capital, it's more difficult. You

can't use the money you need to bet on the money you don't need.

After Buffett retired, do you think Boxer can continue to take over Changqing? The

second, his successor, his culture is pure. They are all trying to find a good

pure. They are all trying to find a good future cash flow company. This will not change. As for the level of this person, Dad also made

change. As for the level of this person, Dad also made mistakes. The people Dad found wouldn't go anywhere. His culture will not change. They

mistakes. The people Dad found wouldn't go anywhere. His culture will not change. They

will not be a investment company. You buy Berkshire Hathaway, you must be better than buying a mutual fund. Right? It must be much better than the funds you bought last night. What choice do you have? If you don't know how to invest, you should buy something like Berkshire Hathaway or like S&P.

That must be better than buying. You know who they are. You know their history.

Do you think Buchasier can still win the standard 500 in the future? Their opportunity

cost is S&P. So they only send when they think they can beat S&P. As for whether they can beat S&P, I don't know. I talked to my

S&P. As for whether they can beat S&P, I don't know. I talked to my father about this. I said, do you think you can beat S&P in the future? He said it's very difficult. But he thinks it might be a little bit

future? He said it's very difficult. But he thinks it might be a little bit more. Business wisdom. What is the most important thing about being an entrepreneur? I

more. Business wisdom. What is the most important thing about being an entrepreneur? I

think if I tell you, I think the most important thing is that you have to think very far. How can you survive? Surviving is more important than anything else. Do you have any pet peeves in being an entrepreneur? I think it has

else. Do you have any pet peeves in being an entrepreneur? I think it has something to do with me. I just said I have to do the right thing.

If I find something wrong, I will give up. The first company in Guangdong still had problems, and then the second one. The second one, I did well as a small business owner. But in the end, I felt that it was wrong again. Because some problems are not immediately manifested. Because of the mechanism of

again. Because some problems are not immediately manifested. Because of the mechanism of the problem. I think if we follow this method, in five years, ten

the problem. I think if we follow this method, in five years, ten years from now, we will not be able to continue. Since you know that in ten years from now you will not be able to continue, why do you still want to continue? Let's talk about doing the right thing and doing the right thing. When I was in third grade, I accidentally saw a sentence

by Deluc called "doing the right thing and doing the right thing". That really

touched me. I took out the right and wrong. And then you find that as long as you spend five seconds thinking about it, you will save a lot of things in your life. If our company sits down and talks about whether there is a visa, Sometimes there is a saying, is this the right thing to do? If we feel something is wrong, we can easily stop. If

you just discuss whether there is a visa, you will find it very complicated.

You often say you have to do the right thing. How do you judge whether something is the right thing? In fact, you know. If there is something you don't know, you will know what you do in the future. Because you will be punished. But if you find something wrong, you must stop.

punished. But if you find something wrong, you must stop.

做对的事情错了马上改,这句话应该怎么去理解?

当我发现这个东西是不对的时候,我就会停止。

我跟很多人讲过,就是说你改正一个错误是需要付出代价的,但是不管多大的代价都会是最小的代价。

So the later you are, the greater the cost you pay. Including when

I was in Zhongshan, right? I thought when I wanted to leave, I thought if this goes on for five years, ten years from now, this is not what I was after. If I continue like this, I'm wrong. I'll leave. No

matter how big the cost is, it will be the lowest cost. Now the fact does prove this. What is more important, diligence or doing the right thing? I said

diligence is the most important. Will you become more diligent? You won't. At least I won't. But now you think about doing the right thing. If you find it wrong,

won't. But now you think about doing the right thing. If you find it wrong, you can change it. In this life, you have accumulated more than 30 years, more than 40 years. Every decision you make is based on 10 years, 20 years later. You will find that you will save a lot of energy. We

later. You will find that you will save a lot of energy. We

graduated in 30 years, graduated in 40 years. I saw some students who were very smart. But some people earned 30 years, 40 years at the original place.

smart. But some people earned 30 years, 40 years at the original place.

That is, maybe every little decision is based on the past. They are very diligent, but they don't care about the cost. Your corporate culture has evolved gradually to the present. Can you explain it briefly? We have always talked about our duties, sincerity,

the present. Can you explain it briefly? We have always talked about our duties, sincerity, right? And user orientation. Our things are actually all in great white.

right? And user orientation. Our things are actually all in great white.

Our wish is to be healthier and longer-lasting. In fact, we don't do things that are not healthy and not long-lasting. In fact, it's a very ordinary thing. Tell us about your duties and ordinary heart. You know, we as a company,

thing. Tell us about your duties and ordinary heart. You know, we as a company, - You are like the "counterfeiter" of the game. You don't do anything too much. You do what you should do and make what you should make. This is

much. You do what you should do and make what you should make. This is

also a concept of "duty". In addition, the "normal heart" I mentioned is a bit similar to "duty". In my personal understanding, the "normal heart" is more rational. I think that the common sense I am talking about is my

rational. I think that the common sense I am talking about is my understanding of Chinese culture. There are many things in our culture that are very good and very hard-working. In fact, I think we must oppose these things that are very hard-working. Everything has to have a rule. I have described to

very hard-working. Everything has to have a rule. I have described to you the concept of the so-called high-speed development of enterprises. I

once gave a very simple example. I personally think you need to develop at a safe and reasonable pace. When the creative process is at its peak, do you create the business culture you like? Business culture has a big relationship with the founder. It's your personal character. You find people who

agree with you and your culture. Our business culture is a bunch of people who agree with the culture, so we all stay together. Those who don't agree will be eliminated and will leave. It's not like I wrote a piece of paper from the beginning and then made it into a book and let

everyone read it little by little. Our culture is also evolving throughout the process of growth. Including our Stop Doing List, it's also added one by one. We need to learn from many lessons. How do you understand

one. We need to learn from many lessons. How do you understand your pursuit of profit? Our company is very weak in this pursuit of profit. We don't see it as our first goal or even an important goal.

profit. We don't see it as our first goal or even an important goal.

We see it as a side product. When you've done everything before, it's hard to not make money.

um 还是挺惬意的一件事情。 诚信对企业有什么作用? 我个人认为是作为企业,

还是挺惬意的一件事情。 诚信对企业有什么作用? 我个人认为是作为企业,

长期发展来讲是一个它的必要条件。 就是说你老实,你诚信, 你就一定能够做起来。

但是你要没有这一点, 你早晚会要出大问题。 诚信是做企业的一个最大漏斗。

给我们讲讲诚信。 诚信对于我来讲的话, 我们是用从本分的角度去理解它的。

因为对于很多人来讲 诚信可能是作为一种 Chen Xin is your essence.

Will you still suffer some losses? Yes,

losses? Yes, you will. There

you will. There is no way to solve this. What if you meet someone who is not sincere? I

solve this. What if you meet someone who is not sincere? I

think if you are an entrepreneur, if you look at an entrepreneur from a long-term perspective, it is easy to deal with. If you think this person is not sincere, you will no longer deal with him. It's very simple. You only eat once.

Especially in Guangdong, I saw a lot of people doing business in the first few years. It's just to cheat. In the end, after a few years, they are gone.

years. It's just to cheat. In the end, after a few years, they are gone.

There are only one characteristic, which is integrity. Or political integrity. Because this

integrity. Or political integrity. Because this

word probably has this kind of... He didn't mention his personality, knowledge, or education. What is the most important reason for Bubu Gao to be where he is today? The most important reason is that we make fewer mistakes than our competitors. We do better than our competitors

when we do the right thing. What is the core value of Bubu Gao? Our

core value is what we have always held on to. It's called...

What is your vision? Our vision is to make a company healthier and more sustainable. I hope that most of you here can

sustainable. I hope that most of you here can understand the difference between what many companies say about making a big company, making 500 walls, and doing this kind of work. What is the difference between the

of work. What is the difference between the goal of doing these things and our long-term goal of being healthier? I have played a role in the early establishment

healthier? I have played a role in the early establishment of corporate culture. For example, we are more concerned about the basic culture of the company. For example, What will you do in the future? I have

no big dreams since I was a child. I think the most

child. I think the most important thing for us to do is to find what others need and then satisfy them.

- I don't think it's something we pursue. I don't want to be a 500-strong man, nor do I want to beat anyone. We are just happy when

we see someone using our products. That's all. How do you keep your talent? The most important thing is the money you give. The

your talent? The most important thing is the money you give. The

more money you give,

- -

Everyone has their own little game. This is definitely going to be a problem. Can

you tell us the meaning of your nickname "Fast and Furious"? The meaning is "failure to meet expectations". That's actually my basic philosophy when I do things. I

don't want to be fast. I want to be safe. The example is very simple. You drive, right? You say, "Is it fast or slow?" So if you're

simple. You drive, right? You say, "Is it fast or slow?" So if you're too fast, you're bound to have a problem.

- Let's talk about the crisis moment and the crisis consciousness. For example, I drive 200 km and there is a wall in front

of me. I will crash into it. What can I do?

of me. I will crash into it. What can I do?

There is no way. Right? It's definitely dead. The most

important thing is not to drive so fast. When you do business, everyone says, "Hurry up, hurry up, or you'll be killed." But the rest of the people usually don't say it. Everyone encourages and promotes. "Who is who? Look how fast you make money." "Who is who? How fast?" "Who is who? How fast?" Many people think

make money." "Who is who? How fast?" "Who is who? How fast?" Many people think they can really drive fast. Slowly, they believe in their own myth. Li Jiacheng said, "Development doesn't forget the documents. Documents don't forget development. What do you think?" The

most important goal we've been pursuing is survival.

What is the minimum speed of development?

If the company is not developing, if it is too long, your employees, suppliers, and the entire system will be in a bad state. This will cause a lot of problems for the company's development and survival. However, If you can make the business grow normally, I think I'd rather take the smallest opportunity. I'm not pursuing quick development.

You have a stop doing list. What are the things you definitely won't do? I

don't lend money to friends. This is my opinion. I don't invest in a certain type of company. For example, I don't touch things I don't understand. So

you have to tell me what I don't understand. I said, first, I can't understand it. Second, I won't touch it. I remember once

understand it. Second, I won't touch it. I remember once Guo Taimin chatted with me. He asked me

me. He asked me this question. I said we have a

this question. I said we have a stop-to-election. He said, "Let me give you an example. We don't do the代工." I said,

stop-to-election. He said, "Let me give you an example. We don't do the代工." I said, "What does that mean?" He said, "I can't beat you if I do the代工." He

said, "That's true. But we do a good job as a brand. Our

company is not as small as them. But we don't compete with them by doing the代工. Look how well they do the代工. TSMC does it well. It's not

doing the代工. Look how well they do the代工. TSMC does it well. It's not

that they can't do the代工. It's that the代工 team is not suitable for us.

So we just stopped. So if anyone comes to us for a job, we just don't do it. What is the meaning of being grateful to the world?

What do we mean by being grateful to the world? Let's say we look at a market. First of all, because the people who make products are very clear.

a market. First of all, because the people who make products are very clear.

The hardest thing is called product education. So you think this product is good. I want to educate them and make them feel good. Companies like

good. I want to educate them and make them feel good. Companies like

us are not capable of doing this at all. But if I were a, for example, I am a pine tree, I am a Philip, I may not do it because I don't do it, I don't have a chance.

What we are talking about is consumer orientation. What is the original? We

have a lot of original. We never say because when you buy something, you don't care if it's original. So our company is against the simple talk of innovation. We call it consumer orientation. We can't say we are not the

innovation. We call it consumer orientation. We can't say we are not the same as others. We are called good. That's wrong. What are some examples of the world's largest post-pandemic model? It's Microsoft. No one wants to understand this. What kind of Microsoft is better than others? None. For example,

understand this. What kind of Microsoft is better than others? None. For example,

Google. Post-pandemic. Apple. Post-pandemic. Google search. It's not Google that wants to do it, right? Yahoo is looking for it. You say Apple's iPhone.

Google

So he was very enthusiastic about the GPP because he wanted to take the society back from this point of view. You've been saying that you are grateful to the world. Will you lose your first chance because of this? As long

the world. Will you lose your first chance because of this? As long

as you think this market is big enough, and the time is long enough, I will not be late to intervene. For example, let's say this market has been around for 50 years. What does it matter if I'm late by 5 years? It

doesn't matter. Being an entrepreneur is like jumping off a high platform. The

less you do, the better. How do you understand this sentence? My original sentence is called the focus. You have to focus. You have to do what you're good at.

Because in the early days of this sentence, China was engaged in multilayering. I don't

understand. I said, this is a multi-dimensional problem. You can't do anything about it. So the eggs have to be put in many baskets. I said, my point

it. So the eggs have to be put in many baskets. I said, my point of view is that the eggs are put in one basket. What is

the focus on the advantage of the army? What is the law of the leader?

People are indeed very strong. But what we can do is that we focus on a certain level. I exert my advantage. This is what the chairman taught us. What is it called? It's called the focus on the advantage of the army.

us. What is it called? It's called the focus on the advantage of the army.

That's all we can do. I just said. 你比方说这刚从农村出来没受过什么教育,

你跑到公司里头看见人家那些工程师 对吧 多当高阶白领你就不服了 你说这个生产线我也不干了 我也要当白领,你当不了啊。 You are a level of a processor. You have to face reality.

我也要当白领,你当不了啊。 You are a level of a processor. You have to face reality.

But facing reality requires courage. Please comment on the impact of advertising on a company. An enterprise is like a wooden bucket. It's a... Which piece is less?

a company. An enterprise is like a wooden bucket. It's a... Which piece is less?

Which piece are you filling? You can't have obvious shortcomings. So if the advertisement is short, you have to fill it up. If your enterprise is good, and it's not well-known, you have to fill it up. But... If you only rely on advertising, you will die the fastest. Talk about your advertising strategy. When do you have to

use a large amount of investment to launch an advertisement? When you have new products to launch. Because you may need to let many people know in a short time. This method is the most cost-effective. Is there any attention to brand name? Brand has one of the most basic characteristics. First, your

words cannot be complicated. When I was a small bar king, the bar brought me a lot of confusion. So I have a definition like this. The name

cannot be too complicated. There are many places you can't do it. Secondly, it

cannot be meaningful. Meaning is that sometimes the steps are not high, everyone knows it. Which step is high, you must know it. How did Oppo

knows it. Which step is high, you must know it. How did Oppo come up with this brand? When we want to go global, we can't use the brand of Bobo Gao. So we have to have an international brand. So our design is not designed by Chinese people. If we design an

brand. So our design is not designed by Chinese people. If we design an English brand, it will be very strange. We think it's good, but the American can't read it. Or it's not comfortable. So we invite European designers. And

read it. Or it's not comfortable. So we invite European designers. And

each country in the world has done language testing. Including the website, including everything. It took a long time and a lot of money. So

including everything. It took a long time and a lot of money. So

when it's done, it probably took a year or two or three years. Then we

started making the right products. What's the difference between doing business in the U.S. and in China? Doing business in the U.S. doesn't require people. Doing business

U.S. and in China? Doing business in the U.S. doesn't require people. Doing business

in China requires people. So you have to do two things, and he just needs to do one thing. What is the similarity between doing business and doing a weiqi? Doing business is the same as doing weiqi, you have to do it yourself. Doing it yourself is actually our duty. Because sometimes you do weiqi, for

it yourself. Doing it yourself is actually our duty. Because sometimes you do weiqi, for example, sometimes you do it too much, then you may lose. That's the concept.

There is another one called winning and losing in doing weiqi. What is winning and losing? It's often in your form, it's behind you, there's a problem. If you

and losing? It's often in your form, it's behind you, there's a problem. If you

have made a lot of mistakes in the past, which has caused you to be behind, ah If the other party makes a mistake at this time, you may have a chance to get back into the situation. But this thing, in real life, you

do this, it will often lose even more. What kind of track should entrepreneurship choose? Even a good track, it will often enter a low-performance stage because of the

choose? Even a good track, it will often enter a low-performance stage because of the competition. How do you see this problem? First of all, good track will not enter

competition. How do you see this problem? First of all, good track will not enter low-performance. Low-performance is a relatively poor business model. This product is very small. As an

low-performance. Low-performance is a relatively poor business model. This product is very small. As an

entrepreneur, you have to go in. What do you think is the most important thing to succeed? The most important thing to succeed is, in my personal understanding, is that you have to stick to what you do right. And then

you have to spend time doing things right. The people who really do well are people who are very principled. He can keep doing it. I met

a person I knew before, who is a supplier of American companies. He

told me, "Who are still in this industry, who are still in VCD business?"

Because there were hundreds of companies, he knew dozens of companies. He counted them for me. He asked me, "What's your name?" I said, "Soye, I'm not

for me. He asked me, "What's your name?" I said, "Soye, I'm not in it." "Soye, I'm not in it." Basically, I'm not in it. I

in it." "Soye, I'm not in it." Basically, I'm not in it. I

asked him, "Who else is there?" I asked him, "Who else is there?"

Oh, there are only a few left. This is very strange. The families he mentioned at the time were all very smart, very powerful. They all felt like we were stupid. Why can't they survive? We are still alive. Why can't they survive? We are still alive. What is different about your success from others? Holstein said

survive? We are still alive. What is different about your success from others? Holstein said

that happy families are all familiar. If you really want something special, you should ask those who have lost their property. Right? There are a few ways to make a good company. The consumer orientation, do your own business, make good products, find your needs, make the details, all the details. Because the

most important thing in a company is the so-called "water-bottle theory". It is

not dependent on how long you do it, but on how bad you do it. Anything you do badly, it really reflects your company's level.

it. Anything you do badly, it really reflects your company's level.

So you do it well, it's good to be good, because you can take it off if you don't do it well. So you just fill in the shortest thing slowly. As a person, do you have any turning points or stumbling blocks in your life? After I entered college, I felt very confused. Suddenly there

was no goal. So I probably had a lot of troubles.

可能有到大山,到下雪,突然就有一天突然有个顿悟说,我高考的时候那么有乐趣,就是每天很充实很忙,或者每天我自己要给自己定目标,我要干这个,要干那个,然后呢,我发现我享受到了这个乐趣。

What do you think about young people?

Success is not a shortcut. You

a shortcut. You have to make the effort you should make. Sometimes it's a matter of

should make. Sometimes it's a matter of time before you get the result. But the most important thing is that you enjoy the process. Even if the result is not as good as you think, I think everyone should not be too disappointed. And everyone is still very young. When

facing many choices in life, I was very hesitant. I don't know which one is the right choice. How did you predict in advance when facing these problems? These

two decisions are difficult for everyone. Why did you decide that? In the end, everyone thought it was right. I said it's actually very simple. Both paths are right. Just

close your eyes and choose one path and then keep going. There is one thing you must pay attention to. You must do your best to analyze and get all the data you can get. But you must know that you will never get all the data. The most important thing is to think about what the consequences may be. You were already rich when you were a little boss. Then you went

may be. You were already rich when you were a little boss. Then you went up in the business and started investing. It seems that you are not a person who values money. What drives you to continue making money? I am a double-edged sword. I have to turn it in first and then spend it. It's

sword. I have to turn it in first and then spend it. It's

like I have a problem with this person. But I enjoyed the whole process.

Do you think luck is important to a person? I personally

think it's not important at all. Why? As long as you stick to it, luck will come your way sooner or later. I think for children, the most important thing is to give them security. Without

security. Without security, it's hard for people to walk. In terms of child education, what should parents do? Parents

to walk. In terms of child education, what should parents do? Parents

teach their children how to do everything they do. So if you scold them, you teach them how to scold others. If you hit them, you teach them how to hit children in the future. If you get angry with them, you show them that they can get angry. What parents do is to increase the sense of security for their children. When they come back, and to reduce the sense of

security, you shouldn't do it. For example, beating or starving children. If

you don't beat them, they won't listen to you. You have to find other ways. I think children don't need to be beaten. But beating children, the children who

ways. I think children don't need to be beaten. But beating children, the children who are beaten may be more filial, right? That's scary. That's a habit. But

that's not good for their development in life. They are unhappy. Of course, some parents don't care whether their children are happy or not.

那你想做什么做什么,对不对? I think people who love children shouldn't do that. But it doesn't mean that you can be strong. You can give whatever

that. But it doesn't mean that you can be strong. You can give whatever you want without principles, right? There are indeed some boundaries in this. It's not

easy. It's not easy to grasp. But you really have to work hard to do this. Can beating children increase children's ability to resist pressure? Beating children will

this. Can beating children increase children's ability to resist pressure? Beating children will not increase children's resistance to pressure. But it will increase their insecurity. Is your fund's money donated to foreign or domestic? Actually, I basically spend it in China.

Even if it's in the United States, 90% of the people are also related to China. Except for the things that are related to my community. The reason for that

China. Except for the things that are related to my community. The reason for that is that charity is actually the most important thing. You go help people you can help. You say that there is a person who is very poor

can help. You say that there is a person who is very poor and I don't know him. How can I prove this thing? This is very important. Then you say you can go see it. Then I can't see it.

important. Then you say you can go see it. Then I can't see it.

Do you understand what I mean? So I call it a range of skill. You

can really know. So for example, I donate to my mother's school. There

are so many universities in China. Why only donate to their own mother's school? Are

they very selfish? No. It's because I know my own mother's school. Of

course, I may not donate because I know it. So do you understand this concept?

Because I feel that I am not at ease with him, I may not donate to him. How do you manage your foundation? In addition to managing his spending, I also manage his investment. My return is not bad. My foundation has grown a lot since I donated. What is your understanding of the public service industry? I make money for fun. But the money I make is a trouble for

industry? I make money for fun. But the money I make is a trouble for me. When this trouble can be taken out and help others, this is a good

me. When this trouble can be taken out and help others, this is a good thing. Some people say that this is a noble thing, but I don't think so.

thing. Some people say that this is a noble thing, but I don't think so.

Because I am solving my problem. I gave you my problem, and you are still very happy. This is a good thing. Do you have a team for charity? For me, charity is a family thing. Now it's my wife and me. In

charity? For me, charity is a family thing. Now it's my wife and me. In

the future, I may have my own child. This is from the perspective of flowers. From the perspective of doing things, there must be a team.

flowers. From the perspective of doing things, there must be a team.

There must be a team. Where do you get your money from? I donate

all my money to the charity. I

donate a lot of money.

What quality do you like the most in women?

This is a very interesting question. Please tell us

question. Please tell us about your childhood. I think I was the most unfortunate and the most unlucky generation.

When I started my education in the primary school, I was in the elementary school. When I finished my education in the secondary school, I was in the high

school. When I finished my education in the secondary school, I was in the high school. I graduated from high school in 1977. I didn't have the experience of

school. I graduated from high school in 1977. I didn't have the experience of going to college. I only learned about it after I graduated. At that time, we had a very poor foundation for going to college. So my first year of college was very poor.

做自己喜欢的事情,其实没什么了不起的。

I'm never the type of person who does something for a living. I

think, "What am I doing every day?" I'm doing something every day, right? I

think it's important to do things that you enjoy doing. And you can do it well only if you like it. You can't say, "You've succeeded, so you should do this." That's not it. Don't just say, "I'm not good at it."

That's because I'm doing what I like. So I will do it very seriously. So I did it well. The company also wants me to find the

seriously. So I did it well. The company also wants me to find the same person I like. Then I can leave it to them. I can do other things that I like. For example, I have enjoyed running a business. I

think it's really fun. But it's also quite tiring. The winner of the Yongping scholarship is at the Yongping School of Education. Talk about the founder of the Yongping Senior Business. This is such a magical thing. I never thought I would be able to speak about this in front of you.