Core Viewpoint - The market showed a rebound today, with the overall index rising after a previous decline, indicating a potential recovery phase in the market [1][4]. Market Performance - The market opened lower but closed higher, returning to a 3.9 star rating [2]. - The small and medium-cap indices, which had previously dropped significantly, saw a notable increase today [4]. - The value style had a strong performance in the past two weeks but has recently corrected, with a slight uptick today [6]. - Growth styles, such as the ChiNext, experienced gains today [7]. - The Hong Kong stock market also saw a slight increase, contrasting with the A-share market [8][9]. Investment Strategies - The active and index combination remains at normal valuation, leading to a pause in subscription [3]. - Some indices have reached high valuation levels, presenting potential profit-taking opportunities [19]. - The company has initiated a phased profit-taking strategy for certain funds, selling 10% of holdings weekly to gradually realize gains [20][22][24]. - Specific funds, such as the CSI 1000 and CSI 500 Low Volatility, have shown significant returns, with profit-taking executed at approximately 71% to 90% gains [22][24]. Fund Management - The company has introduced a new fee structure for advisory services, capping annual fees at 360 yuan regardless of the number of advisory combinations held [19]. - The company continues to promote personal pension fund investments, highlighting the importance of regular contributions for retirement planning [19][16]. Valuation Insights - A valuation table was provided, indicating various indices' price-to-earnings ratios, dividend yields, and return on equity, which can guide investment decisions [17][30]. - The valuation table categorizes indices into different investment stages, with green indicating undervalued, yellow for normal, and red for overvalued [34].

Core Viewpoint - The article announces a promotional event offering a 50% discount on advisory fees for the Ding series investment advisory combinations, effective from July 1, 2025, to December 31, 2025, benefiting all investors holding these combinations during the promotional period [5][18]. Summary by Sections Promotional Details - The annual fee cap is reduced from 360 yuan/year to 180 yuan/year during the promotional period for larger investments [4]. - For smaller investments, the percentage fee rate is uniformly lowered to 0.2% per year [4]. - The promotional offer applies to all shares held during the promotional period, including those purchased before the promotion [5]. Fee Comparison - A detailed comparison of advisory fees before and during the promotional period is provided, showing significant reductions for various investment combinations [8]. - For example, the Active Selection Index Enhancement combination's fee structure changes from a cap of 360 yuan/year and 0.4% per year to a cap of 360 yuan/year and 0.2% per year during the promotional period [8]. Company Initiatives - The company has been actively working to lower advisory fees, having previously reduced the percentage fee rates in April 2023 [17]. - The combined fee model of "percentage + annual fee cap" is designed to benefit both small and large investors, automatically selecting the more advantageous option for clients [14][15]. Cost Savings - Since the launch of the advisory combinations, the company has saved investors approximately 156 million yuan in fees by implementing lower rates and promotional offers [20]. - The average fee rate after the promotional event is expected to be around 0.05%-0.1% per year, which is among the lowest in the global advisory field [28]. Future Plans - The company intends to continue advocating for further fee reductions and additional promotional activities to benefit investors [22][28].