【银行理财】理财公司加码科创债ETF，上市公司调研力度再升级——银行理财周度跟踪（2025.9.22-2025.9.28）

Core Viewpoints - The article discusses the significant expansion of the domestic science and technology innovation bond ETF market, with the second batch of 14 ETFs launched, bringing the total to 24, highlighting the growing importance of these products in supporting financing for innovative enterprises [7][8] - It emphasizes the dual strategy of wealth management companies to capitalize on the recovering equity market by expanding product offerings and enhancing research capabilities [11][12] Regulatory and Industry Dynamics - The launch of the second batch of 14 science and technology innovation bond ETFs on September 24 marks a significant expansion of this market, with wealth management companies becoming key investors in these products [7] - Wealth management companies are increasing their allocation to science and technology bond ETFs for liquidity management, risk diversification, and to align with national policy directions [8][9] Performance of Financial Products - Last week, cash management products recorded a 7-day annualized yield of 1.30%, up 1 basis point, while money market funds reported a yield of 1.22%, up 3 basis points [16] - The yield on 10-year government bonds remained stable at 1.80%, while credit spreads widened due to increased selling pressure in the credit bond market [17][19] Company Innovations - Jianxin Wealth Management successfully issued its first structured financial product linked to gold, which received widespread recognition from individual investors [13][14] - Chery Automobile's IPO on the Hong Kong Stock Exchange was the largest for a car company this year, with Zhongyou Wealth Management participating as a cornerstone investor [14][15] Research and Investment Strategies - Wealth management companies are enhancing their research efforts on listed companies, focusing on sectors such as new energy, technology, consumption, and pharmaceuticals, with a significant increase in the number of research engagements [11][12] - The shift towards equity investments is seen as a response to low interest rates and the need for improved product competitiveness in a challenging market environment [12][15] Tracking of Financial Metrics - The broken net rate of bank wealth management products rose to 3.65%, indicating increased pressure in the credit bond market, with credit spreads widening [19][21] - The article highlights the need for wealth management companies to strengthen their investment research capabilities and manage liquidity risks effectively in the current market landscape [18][19]