Core Viewpoint - The recent surge in gold prices has led to increased interest in structured deposits linked to gold, with some products offering annualized returns as high as 8% [1][9]. Group 1: Structured Deposit Products - Many banks are launching structured deposit products linked to gold, with varying annualized returns. For example, China Bank offers a product with a return range of 0.2% to 5.2% and a minimum investment of 10,000 yuan for a term of 87 days [1][4]. - The "Wenti Hui" structured deposit from the Bank of Communications includes four products with annualized returns between 0.5% and 3.20%, with a subscription period from January 14 to 20 [1][3]. - Minsheng Bank has introduced over ten gold-linked structured deposit products, with one example offering a return of 0.5% to 3.55% for a term of 97 days and a minimum investment of 5,000 yuan [6]. Group 2: Market Trends and Statistics - As of December 2025, the balance of structured deposits in Chinese banks reached 4.25 trillion yuan, a year-on-year increase of 6.01%. Unit structured deposits accounted for 69.49% of this total [8]. - A significant number of A-share listed companies have announced investments in structured deposits, with Sujiao Ke Group investing 90 million yuan in a product linked to gold prices [8][9]. - The popularity of gold-linked structured deposits is attributed to rising inflation and market volatility, prompting investors to seek alternatives to traditional savings products [9][10]. Group 3: Risk and Investment Considerations - Structured deposits are designed to provide higher returns than traditional savings while offering some level of principal protection. However, they carry investment risks due to their linkage to financial derivatives [10]. - Investors are advised to understand the terms of each product, as the level of principal protection can vary significantly [13].

证券代码：600331 证券简称：宏达股份 公告编号：2026-007 四川宏达股份有限公司 2026年第一次临时股东会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： ● 本次会议是否有否决议案：无 一、会议召开和出席情况 (一)股东会召开的时间：2026年1月16日 (二)股东会召开的地点：四川省什邡市宏达金桥大酒店二楼会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： ■ 表决情况： ■ (四)表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 会议由公司董事会召集，董事长乔胜俊主持，采取现场与网络投票方式，对需审议议案进行了记名投票 表决，会议的召集和表决方式符合《公司法》《公司章程》及国家相关法律、法规的规定。 (五)公司董事和董事会秘书的列席情况 1、公司在任董事9人，列席6人，非独立董事王浩、张建，独立董事郑亚光因工作原因未能列席本次股 东会； 2、董事会秘书王延俊因身体原因未能列席本次股东会；公司高级管理人员刘应刚因工作原因未能列席 本次股东会。 ...

Core Viewpoint - The article discusses the emergence and characteristics of "gold + deposit" products, which are structured deposits linked to gold prices, gaining attention in the market due to fluctuations in international gold prices [1]. Group 1: Product Attributes - "Gold + deposit" products are fundamentally structured deposits, ensuring principal protection under China's deposit insurance system, distinguishing them from structured wealth management products that do not guarantee principal or interest [2]. - These structured deposits are classified as floating-rate deposits, differing from traditional deposits, as they are linked to derivatives such as exchange rates, indices, stocks, and gold to pursue higher returns [2]. Group 2: Return Levels - Structured deposits typically offer two or three tiers of expected maturity interest rates, providing significant elasticity in returns. For instance, a specific gold-linked deposit has a minimum return rate of 1.65%, a middle rate of 2.17%, and a maximum rate of 2.37%, contingent on gold price fluctuations within a defined range [3]. Group 3: Investor Considerations - Investors should carefully evaluate their investment needs and risk preferences before purchasing structured deposits, considering factors such as deposit term and minimum investment amount, as terms generally range within one year, with some as short as seven days [4]. - The underlying assets linked to these deposits should be assessed for recent price trends and investment risks, as they significantly influence the final returns for investors [4]. - Understanding the return rules is crucial, as the difference between minimum and maximum returns can be substantial, necessitating a clear grasp of the conditions that trigger the highest returns [4]. Group 4: Financial Institutions' Role - Financial institutions must respect investors' rights to information and choice when selling structured deposit products, providing professional support to avoid misleading investors [5]. - There is a growing demand for online channels to address investor inquiries, highlighting the need for financial institutions to enhance their service capabilities and training for frontline staff to bridge the information gap between financial products and investors [5].

Core Viewpoint - The article discusses the rising trend of structured deposits linked to gold being offered by various banks in response to the soaring gold prices and low deposit interest rates, catering to risk-averse investors seeking higher returns [1][2]. Group 1: Gold Price Trends - In 2025, the international gold price experienced a significant bull market, rising from approximately $2646 per ounce at the beginning of the year to over $4367.8 per ounce by year-end, marking an annual increase of about 65% [1]. - The current domestic bank deposit rates are at a low, with some short-term rates starting at 0.65% for three-month deposits [2]. Group 2: Structured Deposit Products - Many banks have launched structured deposit products linked to gold, which offer a combination of principal protection and variable returns, appealing to risk-averse investors [2]. - For example, China Merchants Bank has introduced a series of "Point Gold" structured deposits with terms ranging from 7 to 181 days, offering expected annualized returns of 1%, 1.58%, or 1.78% based on gold price fluctuations [2]. - The Bank of Communications has also launched a series of structured deposits with annualized returns ranging from 0.5% to 3.2%, depending on the performance of the Shanghai Gold Exchange AU99.99 contract [3]. Group 3: Investment Considerations - The structured deposits are characterized by principal protection, but the returns are contingent on the performance of the linked gold prices, which may not guarantee the highest advertised returns [5][6]. - Investors are advised to thoroughly understand the product details and consult with bank financial professionals before purchasing, as the structured deposits may have complex terms and conditions [6].

Core Viewpoint - In 2025, international gold prices experienced a historic bull market, with London spot gold prices rising from approximately $2646 per ounce at the beginning of the year to over $4367.8 per ounce by year-end, marking an annual increase of about 65% [1][6]. Group 1: Market Trends - The current domestic bank deposit rates are at a low, with some short-term deposit rates starting with "0", such as the Industrial and Commercial Bank of China's 3-month deposit rate at 0.65% and large-denomination certificates of deposit at only 0.9% [2][7]. - In contrast, the gold market has been on the rise, prompting multiple banks to launch gold-linked structured deposit products to cater to risk-averse investors seeking higher returns [2][8]. Group 2: Structured Deposit Products - Banks like China Merchants Bank and Bank of Communications have introduced various gold-linked structured deposit products, offering features like "principal protection + floating returns" and flexible term options [2][8]. - For instance, China Merchants Bank's "Point Gold" series includes products with terms ranging from 7 to 181 days, with expected annualized returns of 1%, 1.58%, or 1.78% based on gold price fluctuations [2][8]. - Bank of Communications offers a series of structured deposits with annualized returns ranging from 0.5% to 3.2%, depending on the performance of the Shanghai Gold Exchange AU99.99 contract [2][8]. Group 3: Investment Considerations - While structured deposits are generally considered safe with principal protection, the potential for returns is tied to the performance of the underlying assets, such as gold prices [4][10]. - Analysts suggest that the first quarter of 2026 will see a peak in the maturity of higher-rate fixed deposits, making structured deposits an attractive option for banks to maintain funding stability [4][10]. - Investors are advised to thoroughly understand the terms and risks associated with structured deposits, as they cannot be withdrawn early and the highest advertised returns may not be guaranteed [5][11].

受国际金价波动影响，今年开年以来，多家股份制商业银行、外资银行推出了黄金相关存款产品，即黄 金挂钩结构性存款，备受市场关注。与此同时，部分上市公司近期披露的公告显示，已购买黄金挂钩结 构性存款，将其纳入公司的资产配置范畴。 看懂"黄金+存款"产品，需要厘清三个逻辑。 首先，从产品属性看，"黄金+存款"产品的本质依然是存款，只不过是一种结构性存款。既然是存款， 其本金就有保障，受我国存款保险制度保护，这也是结构性存款与结构性理财的最大不同之处，后者目 前已打破刚性兑付，既不保本也不保息，投资者存在损失本金的潜在可能。 再次，从收益水平看，结构性存款具有两档或三档预计到期利率，收益具有较大弹性。面对多档收益， 投资者要仔细阅读产品说明书，先弄清楚收益规则，再决定是否购买。例如，某黄金挂钩存款产品的最 低收益率为1.65%，中间收益率为2.17%，最高收益率为2.37%。实际上，该产品还同时设置了一个黄金 价格的波动区间，当黄金价格上涨且突破该区间上限，到期利率为2.37%；当黄金价格处于该波动区间 内，到期收益率为2.17%；同理，当黄金价格下跌且突破该区间下限，到期收益率为1.65%。 面对结构性存款产品，投资 ...

Core Viewpoint - The recent surge in gold prices has led to increased interest in structured deposits linked to gold, with various banks offering competitive products that appeal to conservative investors seeking stable returns [1][4]. Group 1: Structured Deposits Overview - Structured deposits are floating-rate deposits that are protected by deposit insurance, where the interest earned is invested in financial derivatives like gold, indices, or stocks to pursue higher returns [2]. - For example, China Merchants Bank has launched gold-linked structured deposits with investment terms ranging from 7 to 181 days, offering annualized rates up to 1.78% [2]. - Historical performance indicates that most structured deposits yield mid-range returns, with an 80% probability of achieving such outcomes [2]. Group 2: Market Dynamics - Banks are increasingly offering gold-linked structured deposits to attract risk-averse investors amid market volatility and declining interest rates [4]. - These products help banks capture attention during periods of high gold price fluctuations, enhancing retail asset management and mitigating net interest margin pressures [4]. - The demand for stable investment options has surged, particularly as traditional fixed-term deposit rates have fallen to around 1.30% for longer terms and even lower for shorter durations [4]. Group 3: Investor Considerations - Despite the promise of capital protection, structured deposits are still investment products with inherent risks, including uncertain returns and liquidity constraints [5]. - Investors are advised to undergo risk assessments before purchasing these products and to be cautious of the advertised maximum returns [5]. - It is essential for investors to understand the complex terms and conditions associated with these products, including the potential for locked funds during the investment period [5].

国际金价连创新高，众多投资者活跃参与，部分投资者赚得盆满钵满，但对于一些厌恶投资风险的投资者而言，担心的却是金价下行带来投资 损失。 近期不少银行推出了与黄金挂钩的结构性存款产品，正是抓住了这部分投资者既不甘心亏本又想博取更高收益的需求。 业内人士认为，2026年一季度还处在前几年利率较高的定期存款集中到期高峰阶段，此时商业银行推出结构性存款还可以解决资金稳定性的问 题。 挂钩黄金的结构性存款产品密集推出 当前，国内银行存款利率处于低位。部分银行短期存款利率已经到了0开头，如工商银行个人人民币3月期整存整取存款当前执行利率为 0.65%，甚至3个月期限20万元起存的大额存单年化利率也仅为0.9%。 存款利率下行，与之相对的黄金市场却一路走高，这也使得多家银行顺势密集推出挂钩黄金的结构性存款产品。这类产品凭借"本金保障+收益 浮动"的核心优势与灵活期限选择，成为风险厌恶型投资者的新选项。 2025年，国际金价走出史诗级牛市，伦敦现货黄金价格从年初约2646美元/盎司攀升至年底超4367.8美元/盎司，全年累计涨幅约65%。 自2025年初以来伦敦现货黄金价格走势（单位：美元/盎司） 以招商银行为例，该行于1月1 ...

Core Viewpoint - The demand for gold-related investment products has surged in early 2026, with banks launching structured deposits linked to gold, offering features like principal protection and flexible terms, attracting a wide range of investors [1][2]. Group 1: Domestic Banks - Domestic banks focus on short-term, flexible configurations with low entry thresholds to attract a broad investor base. For instance, Shanghai Rural Commercial Bank launched a series of products linked to London gold with expected annualized returns ranging from 1.20% to 1.65% [1]. - Jiangsu Bank's Wuxi branch introduced structured deposits linked to gold with a minimum investment of 10,000 yuan, offering expected annualized returns of 1%, 1.89%, or 2.09% for 3-month and 6-month terms [1]. - China Merchants Bank's "Point Gold" series covers terms from 7 to 181 days, with expected annualized returns of 1%, 1.27%, or 1.47% based on gold price fluctuations [1]. Group 2: Foreign Banks - Foreign banks are targeting high-net-worth clients with long-term, high-yield products. For example, DBS Bank launched a principal-protected structured deposit linked to gold with annualized returns between 1.5% and 4.0% for a 12-month term, requiring a minimum investment of $10,000 [2]. - Standard Chartered Bank introduced a structured deposit linked to SPDR Gold Trust with non-annualized returns ranging from 0% to 5.0%, requiring a minimum investment of 50,000 yuan and an 18-month investment period [2]. - The surge in gold-linked structured deposits is attributed to rising market demand for safe-haven assets, enhancing banks' retail AUM and middle-income revenue while alleviating net interest margin pressures [2]. Group 3: Investment Considerations - Investors are advised to focus on four key aspects when selecting products: the correlation of returns with actual gold price performance, the complexity of trigger conditions, liquidity restrictions, and the clarity of maximum loss disclosures [3]. - The yield mechanism of these structured deposits is characterized by "asymmetry," where investors may often receive lower or mid-tier returns regardless of significant gold price fluctuations [3]. - Three core risks are highlighted: the risk of returns falling short of expectations, liquidity risk due to locked funds during the product's term, and opportunity cost risk, particularly in a rising gold market where returns may be capped [3].

中经记者 慈玉鹏 北京报道 2026年1月，多家银行发布挂钩黄金相关标的的结构性存款产品，年化收益率最高一度触及4.5%。 《中国经营报》记者采访了解到，投资挂钩黄金相关标的的结构性存款产品，需要注意评估其高收益触 发条件是否合理；同时，产品若以美元计价，购买前必须考虑汇率风险。 高收益率产品陆续推出 近期，多家银行发布挂钩黄金相关标的的结构性存款产品。 购买挂钩黄金的结构性存款投资人需要注意风险。 尊彩黄金产业研究院院长吴龙告诉记者，首先，市场风险是核心，黄金价格波动直接影响收益实现，例 如部分产品中设定若金价未达预期，投资者仅能获得较低年化收益。其次，部分产品流动性风险因产品 期限较长，提前赎回可能面临罚息或本金损失。最后，挂钩标的复杂性带来额外风险，例如部分产品并 非直接挂钩黄金现货，而是金矿公司股票，其表现受企业运营和股市波动双重影响，投资者需充分理解 条款以避免误判。 金融监管专家周毅钦告诉记者，投资者购买挂钩黄金相关标的的结构性存款，收益多为"区间型"或"触 发型"，若金价在观察区间内未达到约定条件，只能拿保底收益，弹性收益往往需要金价有较大幅度的 上涨才能实现。所以不能被其高收益所迷惑，还是要评 ...