HighRock Capital Management Inc. is an investment adviser registered with the State of New York, focused on fundamental research on U.S.-listed companies, research-driven personalized portfolio construction and management, and financial planning.
HighRock Capital Management Inc. 是一家在纽约州注册的投资顾问机构，专注于美股基本面研究、自主研究驱动的个性化投资组合构建与管理及财务规划。
Our recommendations rest on company research we conduct ourselves, assessed within one consistent analytical framework covering fundamentals, valuation, catalysts and risks. The research does not sit apart from the investment decision: it is used directly to support the actual judgments made in client portfolios.
我们的投资建议建立在自主完成的公司研究之上，并通过统一的分析框架评估基本面、估值、催化剂与风险。研究并非独立于投资决策存在，而是直接用于支持客户组合中的实际判断。
HighRock manages portfolios on a non-discretionary basis. We conduct the research, analyze the portfolio and put forward personalized recommendations; the client always retains the final decision on any transaction. Execution rests on the client's explicit authorization.
HighRock 采用非全权委托投资管理模式。我们负责研究、组合分析并提出个性化投资建议；客户始终保留最终交易决定权。我们的交易执行建立在客户明确授权的基础之上。
Written investment research on U.S.-listed companies, published to subscribers. Every report follows the same framework: bear / base / bull scenario analysis, explicit valuation multiples, a dated catalyst calendar, and a risk matrix setting out what would overturn the investment conclusion.
针对美股上市公司提供书面投资研究，并向订阅者发布。每份报告遵循统一的研究框架，包括 Bear / Base / Bull 三情景分析、明确的估值倍数、带日期的催化剂日历，以及列明“什么会推翻投资结论”的风险矩阵。
Ongoing, non-discretionary investment management for individuals and their related accounts. We build recommendations from our research and continuously assess portfolio allocation and risk; the final investment decision always rests with the client, and nothing is executed without the client's explicit authorization.
为个人及其关联账户提供持续性的非全权委托投资管理。我们基于研究提出投资建议，并持续评估组合配置与风险；最终投资决策权始终由客户掌握，未经客户明确授权，不会执行任何交易。
Project-based financial planning under a separate written agreement — investment allocation, retirement funding analysis, education funding analysis, and cash-flow analysis.
在单独书面协议下提供项目制财务规划，包括资产配置、退休资金测算、教育金测算及现金流分析。
HighRock's research rests on one consistent, checkable analytical framework. The objective is not simply to state a view, but to show explicitly which assumptions the investment conclusion is built on, and which facts would change or overturn it.
HighRock 的研究建立在一套一致、可复核的分析框架之上。我们的目标不是简单给出观点，而是明确展示：投资结论基于哪些假设形成，以及哪些事实可能改变或推翻这一判断。
Research reflects HighRock's judgment as at the publication date of the report, based on the information available at that time. All research is impersonal investment research, prepared without regard to the financial situation, investment objectives, risk tolerance or other individual circumstances of any particular subscriber.
研究反映 HighRock 在报告发布日期基于当时可获得信息形成的判断。所有研究均为非个性化投资研究，编制过程中不考虑任何特定订阅者的财务状况、投资目标、风险承受能力或其他个人情况。
HighRock's business is structured around three principles: the client keeps the final decision; fees and economic interests are transparent; potential conflicts of interest are managed through written policy.
HighRock 的业务结构围绕三个原则建立：客户保留最终决策权、收费与经济利益透明、潜在利益冲突通过制度管理。
HighRock manages portfolios on a non-discretionary basis. We conduct the research, construct the portfolio and put forward personalized recommendations, but hold no authority to execute a transaction without the client's authorization.
HighRock 采用非全权委托投资管理模式。我们负责研究、投资组合构建并提出个性化投资建议，但不拥有未经客户授权自行执行交易的权限。
Any transaction may be executed only after the client has expressly approved it. The client therefore retains the final decision on every transaction in the account.
任何交易均须在获得客户明确批准后方可执行。客户因此始终保留账户交易的最终决定权。
Every HighRock service carries a defined fee structure, disclosed in advance.
HighRock 的各项服务采用明确、事先披露的收费结构。
Portfolio management fees are calculated at annual rates of 1.50% / 1.25% / 1.00% by applicable asset tier, billed quarterly, with no minimum account size.
投资组合管理费按适用资产档位以 1.50% / 1.25% / 1.00% 的年费率计算，并按季度收取，无最低账户规模要求。
Investment research subscriptions are $300 per quarter. Financial planning is charged a fixed fee, with the scope of work and the fee set out in writing before the engagement begins.
投资研究订阅费为 $300 / 季度。财务规划采用固定费用，具体服务范围及收费标准在项目开始前以书面形式确定。
HighRock takes no transaction commission, sales commission or referral fee in connection with a client trading any particular security, and accepts no third-party sales compensation in connection with the advice we give.
HighRock 不因客户交易特定证券而收取交易佣金、销售佣金或推荐费，也不接受与投资建议相关的第三方销售报酬。
Non-cash economic benefits that may arise from recommending a custodian, and the related conflicts of interest, are disclosed in Form ADV Part 2A as required.
因推荐托管机构而可能获得的非现金经济利益及相关利益冲突，按照适用要求在 Form ADV Part 2A 中进行披露。
HighRock provides both investment research and personalized advisory services, so the same security may fall within research coverage and also be the subject of a recommendation to a client. That is a potential conflict of interest requiring identification, disclosure and management.
HighRock 同时提供投资研究与个性化投资顾问服务，因此可能出现同一证券既属于研究覆盖范围，又成为客户投资建议对象的情况。这构成需要识别、披露并管理的潜在利益冲突。
Written policy governs how information is distributed and how transactions are conducted across the two lines of business. Personalized recommendations to advisory clients and research published to subscribers follow separate distribution procedures and a pre-set schedule, reducing any unfair effect between the two groups.
我们通过书面政策对不同业务之间的信息分发和交易活动进行管理。投顾客户的个性化投资建议与面向研究订阅者的研究发布遵循独立的分发程序及预设的时间安排，以降低不同客户群体之间可能产生的不公平影响。
Personal securities transactions by HighRock personnel are additionally subject to internal compliance controls, including applicable pre-clearance, trading restrictions and blackout periods.
HighRock 关联人员的个人证券交易亦受内部合规制度约束，包括适用的预先审批、交易限制及封锁期。
These arrangements are set out in HighRock's Code of Ethics and other internal compliance policies, and the related disclosures are provided to clients and subscribers as required.
相关制度载于 HighRock 的 Code of Ethics（道德准则）及其他内部合规政策，并按适用规定向客户或订阅者提供相关披露。
Chief Executive Officer & Chief Compliance Officer
首席执行官兼首席合规官
MBA, Master of Finance (Fund Management). Investment Adviser Representative.
MBA，金融学硕士（基金管理方向）。注册投资顾问代表（Investment Adviser Representative）。
HighRock Capital Management Inc. is an investment adviser registered with the State of New York.
HighRock Capital Management Inc. 是在纽约州注册的投资顾问。
HighRock provides clients with its Form ADV Part 2A (Firm Brochure) and, where applicable, Form ADV Part 2B (Brochure Supplement), in accordance with applicable regulatory requirements. These documents are also available on request.
HighRock 按照适用监管要求向客户提供 Form ADV Part 2A（Firm Brochure）及适用的 Form ADV Part 2B（Brochure Supplement）。相关文件亦可应要求提供。
Investing involves risk, including the possible loss of principal.
投资涉及风险，包括本金损失的可能性。
Public content on this site and our impersonal investment research are based on information available at the time of publication. They do not take into account the investment objectives, financial situation, risk tolerance or other individual circumstances of any particular person, and do not constitute personalized investment advice to any particular person.
本站公开内容及非个性化投资研究基于发布时可获得的信息，不考虑任何特定人士的投资目标、财务状况、风险承受能力或其他个人情况，不构成针对任何特定人士的个性化投资建议。