低利率时代，这类产品“爆火”！

Core Viewpoint - The "fixed income +" products are becoming a favored choice for investors in the low interest rate era, and are expected to become the second main track for securities asset management firms [1][3]. Group 1: Market Trends - The current and future investment environment favors equity assets over bonds, providing higher investment value [2]. - The bond market has experienced a prolonged bull market since 2018, with yields continuing to decline, limiting future downward potential [2]. - The stock market is showing signs of recovery after a prolonged adjustment, with increased trading activity and improved earnings for high-tech companies, setting a foundation for market growth [2]. Group 2: Company Strategy - Securities asset management firms are facing pressure from declining asset yields, necessitating a shift towards "fixed income +" products to mitigate systemic risks [3]. - The transition to "fixed income +" products allows for better asset allocation and risk management, appealing to clients with moderate risk preferences [3]. - The company has been actively developing "fixed income +" products since 2019, including "fixed income + options" and "fixed income + equity funds," which have shown stable investment performance [4][5]. Group 3: Performance and Future Outlook - The company's "fixed income +" products have been well-received, achieving steady investment results despite market fluctuations [5]. - The company aims to enhance its research and investment capabilities while seizing opportunities in the equity market to support the growth of its "fixed income +" business [5]. - The company plans to continue expanding its "fixed income +" offerings across various banking channels, reinforcing its market position and supporting client wealth preservation and growth [5].