The quarterly growth rate of total assets reflects the change in the company's total assets in the most recent quarter, and is an important indicator for measuring the company's short-term expansion capabilities and operating conditions. Generally, companies that grow rapidly in the short term may attract investors' attention, leading to rising stock prices. However, in the long run, over-expanded companies may face pressure from operating risks and declining returns. Empirical studies have shown that long-term (e.g., five years) asset growth is negatively correlated with future stock returns, which may be because companies that expand over the long term may face problems such as increased management difficulties and reduced resource utilization efficiency. Short-term (quarterly or annual) asset growth rates may be positively correlated with future returns, which may be due to the market's pursuit of short-term performance growth. Therefore, in quantitative investment strategies, this factor should be used in combination with other factors, and needs to be analyzed in combination with the specific market environment and company fundamentals. At the same time, the weight of the factor needs to be dynamically adjusted according to the holding period of the strategy.