Investment Process | BNB Asset Management

[ Investment Process ]

A systematic five-stage management process,
from preliminary research to post-investment management

Through a rigorous, principle-based process, BNB Asset Management protects investors' valuable assets and pursues sustainable performance.
To maximize management performance, we apply a rigorous five-stage process spanning from preliminary research to post-investment management.

STEP 1

Preliminary Corporate
Valuation Research
STEP 2

Comprehensive
Valuation Analysis
STEP 3

Investment Review
& Strategy Formulation
STEP 4

Strategic Execution
STEP 5

Exit Strategy &
Post-Investment Management

STEP 1

Preliminary Corporate Valuation Research (Deep Dive)
- We conduct a comprehensive review of potential investment targets in the market,
  from the Pre-IPO stage to Post-IPO companies.
- Through meetings with target company management (1:1 Q&A) and attendance at official IR sessions,
  we identify core competitive strengths beyond what is available in disclosed data.
POINT

Based on disclosures and IR materials, we leverage company visits and industry-specific
expert networks to gain a first-mover advantage on investment opportunities.
STEP 2

Comprehensive Valuation Analysis (Multi-Layer Analysis)
- In addition to company fundamentals, we analyze IPO market sentiment and the supply-demand environment,
  price attractiveness relative to the peer group, and potential risk factors from a multidimensional perspective.
- Through our proprietary integrated analysis model, which combines quantitative valuation with qualitative
  growth assessment, we derive the fair value of each target company.
POINT

Based on thorough analysis, we select high-quality issues expected to perform strongly,
establishing a foundation for the fund's excess returns.
STEP 3

Investment Review & Strategy Formulation (Decision Making)
- Through multifaceted review by fund managers and the risk management team, we determine whether to
  invest in each issue and formulate strategies to maximize returns.
- We establish investment strategies and scenario-based trading strategies in advance, taking into account
  the characteristics of each fund, to minimize management uncertainty.
POINT

By adhering to a transparent and rigorous internal review process, we ensure fairness in
management and diversify risk.
STEP 4

Strategic Execution (Execution)
- While building on the strategies established in advance, we deploy optimal strategies in line
  with changing market conditions.
- By closely monitoring the valuation of target companies and market supply-demand flows,
  we capture the optimal timing to execute strategic management.
POINT

With flexible responsiveness to the market, we secure management returns in a stable manner.
STEP 5

Exit Strategy & Post-Investment Management (Exit & Monitor)
- By comprehensively considering each company's earnings and events, industry conditions, and the
  macro environment, we optimize the exit strategy for each issue to lock in returns.
- Through strict application of stop-loss principles, we limit volatility risk and conduct ongoing
  value monitoring of our holdings.
POINT

With an optimal exit strategy and continuous monitoring, we minimize risk and firmly
defend the fund's stable returns.