Core Viewpoint - The article emphasizes the benefits of participating in government bond reverse repos as a short-term investment strategy, particularly during the year-end period when interest rates tend to rise, providing a safe and profitable option for idle funds [3][5]. Summary by Sections Government Bond Reverse Repo Overview - Government bond reverse repos are essentially short-term loans where individuals lend their funds to earn fixed interest, with government bonds used as collateral by the borrower [3]. - The safety of government bond reverse repos is considered equivalent to that of government bonds themselves [3]. Year-End Strategy - The article highlights that interest rates for government bond reverse repos typically increase significantly at month-end, quarter-end, year-end, and before long holidays, making it an attractive time for investors to consider this investment option [3]. - Investors are encouraged to monitor yield rates and select suitable term products to maximize the value of idle funds [3]. Interest Calculation Days - The interest calculation days for government bond reverse repos are based on the actual number of calendar days from the first settlement date to the maturity settlement date [4]. Year-End Reverse Repo Guide - A detailed table outlines various reverse repo options available around the New Year, including the start date, term, maturity date, and interest calculation days for different products [5][8]. - For example, a 7-day term starting on December 24, 2025, will have an interest calculation of 11 days, with funds available for withdrawal on January 5, 2026 [5][8]. Participation Tips - The minimum participation threshold for government bond reverse repos is set at 1,000 yuan, with multiple term options available for investors to choose from based on their needs [7]. - It is advisable to consider higher-yielding products when the interest calculation days are the same across different term options [7]. - Investors can execute a 1-day reverse repo operation two days before the market closure to earn holiday interest without affecting other account operations [7].

国债逆回购,本质上是一种短期贷款。个人将自己的资金借出 去，获得固定的利息收益。而作为回购方，也就是借款人用自己的 国债作为抵押获得这笔借款,到期后还本付息。一般认为国债逆回 购的安全性等同于国债。每逢月末、季末、年末、长假前夕，国债 逆回购利率往往会出现较明显提升，安全性和收益性两不误，参与 门槛只需1000元,是证券账户闲钱理财的好选择之一。投资者可以 关注收益率,找寻适合自己的期限品种,抓住闲钱增值好机会。 ● subs 8 8 20 - 甲万宏源i 优券 swawanaggyusia see nu | Hill 彩 . � 1100 DEC 2025 开盘_2026 C Ma C e 11 恭祝各位投资者2026元旦快乐! 2026元日休市安排 | | 星期三 | 草期四 | 星期五 | 星期六 | 星期日 | 昌湖 | | --- | --- | --- | --- | --- | --- | --- | | | 2025年 | 2026年 | 2026年 | 2026年 | 2026年 | 2026年 | | | 12月31日 | 1月1日 | 1月2日 | 1月3日 | 1月4日 | 1月5日 ...

● subs 8 8 20 - 甲万宏源i 优券 swawanaggyusia see nu | Hill 彩 . � 1100 DEC 2025 开盘_2026 C Ma C e 11 恭祝各位投资者2026元旦快乐! ===== 国债逆回购简介 :===== 国债逆回购,本质上是一种短期贷款。个人将自己的资金借出 去，获得固定的利息收益。而作为回购方，也就是借款人用自己的 国债作为抵押获得这笔借款,到期后还本付息。一般认为国债逆回 购的安全性等同于国债。每逢月末、季末、年末、长假前夕，国债 逆回购利率往往会出现较明显提升，安全性和收益性两不误，参与 门槛只需1000元,是证券账户闲钱理财的好选择之一。投资者可以 关注收益率,找寻适合自己的期限品种,抓住闲钱增值好机会。 ::::: 国债逆回购计息天数 :::::: 计息天数为实际占款天数。所谓实际占款天数即当次回购交易 的首次交收日(含)至到期交收日(不含)的实际日历天数。 | | | 2026元旦国债逆回购攻略 | | | | --- | --- | --- | --- | --- | | 參自日 | 品种期限 | 资金可用目 (到期清算日 | 资金可取 ...

● subs 8 8 20 - 甲万宏源i 优券 swawanaggyusia see nu | Hill 彩 . � 1100 DEC 2025 开盘_2026 C Ma C e 11 恭祝各位投资者2026元旦快乐! 2026元日休市安排 | | 星期三 | 草期四 | 星期五 | 星期六 | 星期日 | 昌湖 | | --- | --- | --- | --- | --- | --- | --- | | | 2025年 | 2026年 | 2026年 | 2026年 | 2026年 | 2026年 | | | 12月31日 | 1月1日 | 1月2日 | 1月3日 | 1月4日 | 1月5日 | | H& | HTD | | | | | 开市 | | | | | | 采闭 | 崇闭 | 十浦 | 注：2026年元旦期间，A股2026年1月1日(星期四)至1月3日(星期六)休市，1月5日(星期一)起照常 开市; 港股通2025年12月31日(星期三)下午、2026年1月1日(星期四)至1月3日(星期六)不提供港股 通服务,1月5日(星期一)起照常开通港股通服务。另外,1月4日(星期日)为周末休市。 拒绝持 ...

Group 1 - The core issue revolves around the market's high expectations for Moer Thread, which has led to a significant shift in investor sentiment from enthusiasm to skepticism following its announcement of cash management for idle funds [1][2] - Moer Thread's decision to invest idle funds in low-risk financial products, while legally compliant, does not align with investor expectations for rapid investment in R&D and market share expansion [1][2] - The controversy surrounding Moer Thread's cash management is primarily driven by its high valuation and investor expectations, rather than the cash management itself being the sole trigger for concern [2] Group 2 - Moer Thread could enhance communication with investors by regularly updating them on the progress of R&D projects, which may help align market expectations with the company's operational realities [3] - Investors are encouraged to adopt a more rational understanding of R&D investments, recognizing that phased funding and prudent cash management are essential for sustainable growth [3]

对于不超过75亿元的理财额度上限，摩尔线程也给出了解释，上限并非实际理财金额，而且随着资金不 断投入到募投项目中，闲置资金规模和现金管理额度也会随之动态下降。 本是一份很常规的"闲钱理财"公告，却把摩尔线程推上了舆论的风口浪尖，市场的投资情绪从热情高涨 骤变为质疑担忧。头顶"国产GPU第一股"光环的摩尔线程，一直在享受资本溢价，但从市场情绪而言， 高预期同时也容易变成高落差，摩尔线程的常规操作在规则上合法合规，但却没能达到市场给予它的高 预期。 "闲钱理财"的目的是在公司真正把钱投入项目之前，用闲置的资金投入保本的理财产品，提升一下募集 资金使用效率。但是在投资者的预期中，希望摩尔线程尽快把募集资金投入研发，快速实现技术突破， 抢占更多的市场份额，而不是去当理财大客户。 类似的"闲钱理财"，也曾出现在寒武纪、华虹公司身上，但是那时投资者并没有过于强烈的反应。究其 原因，那时投资者对于寒武纪、华虹公司并没有过高的期许，投资者也并没有预期寒武纪的股价能够超 越贵州茅台，所以对于它们的"闲钱理财"操作并没有过多的争议。 但是到了摩尔线程，从它上市之初，投资者对其期待就远超其他同类公司，上市后的超预期股价涨幅足 以说 ...

Core Insights - The article discusses the investment choices of two individuals, Lao Zhou and Xiao Yang, highlighting their differing risk tolerances and investment strategies for managing idle cash [3][4]. Group 1: Investment Strategies - Lao Zhou prefers short-term bank wealth management products due to his need for stability and low risk, having previously experienced a small loss in a short bond fund [3]. - Xiao Yang, being younger and more tolerant of market fluctuations, opts for short bond funds, which provide higher potential returns despite occasional minor losses [3][4]. - The article emphasizes that the choice between short-term wealth management and short bond funds depends on the investor's specific needs and risk appetite [4]. Group 2: Market Behavior - Lao Zhou's experience illustrates the importance of having a clear purpose for funds, as he seeks consistent, albeit small, returns without the stress of market volatility [3]. - Xiao Yang's approach demonstrates that accepting some level of fluctuation can lead to better overall returns, as she earned more from her short bond fund compared to a bank product [3][4]. - The article suggests that investors should align their investment choices with their financial goals and comfort with risk, rather than seeking one option as universally superior [4].

Core Viewpoint - The article discusses the arrangements for the 2025 National Day and Mid-Autumn Festival market closures, emphasizing the opportunities for investors to utilize idle funds through government bond reverse repos during the holiday period [5][9]. Market Closure Arrangements - The A-shares market will be closed from October 1 (Wednesday) to October 8 (Wednesday) in 2025, resuming normal trading on October 9 (Thursday) [5]. - The Hong Kong Stock Connect will also be unavailable from October 1 to October 8, with services resuming on October 9 [5]. Government Bond Reverse Repo Overview - Government bond reverse repos are essentially short-term loans where individuals lend their funds to earn fixed interest, with government bonds used as collateral by the borrower [9]. - The safety and yield of government bond reverse repos are considered equivalent to government bonds, making them a good option for managing idle funds, especially before month-end, quarter-end, year-end, or holiday periods [9]. Participation Guidelines for Reverse Repos - The minimum investment for government bond reverse repos is 1,000 yuan, with various term options available for investors to choose based on their needs [13]. - Investors are advised to consider higher-yielding options when the interest days for different term products are the same [13]. - To maximize holiday earnings, investors can execute one-day reverse repos two trading days before the market closure [13]. Specific Strategies for 2025 Holiday Period - A detailed table outlines the participation dates, term lengths, and interest days for various reverse repo options leading up to and following the holiday [11][14]. - For example, a 7-day term starting on September 23 will yield interest until October 9, totaling 15 days [11]. Additional Information on BaoLiXin/BaoLiYuan - BaoLiXin and BaoLiYuan are part of the Shenzhen Stock Exchange's quoted repurchase business, allowing investors to lend funds against collateralized assets [15]. - The financing amount is determined based on the value of the collateralized standard bonds, with returns paid to investors upon maturity [15].

Core Viewpoint - The article discusses the arrangements for the 2025 National Day and Mid-Autumn Festival market closures, emphasizing the opportunities for investors to utilize idle funds through government bond reverse repos during the holiday period [5][9]. Market Closure Arrangements - The A-shares market will be closed from October 1 (Wednesday) to October 8 (Wednesday), reopening on October 9 (Thursday) [5]. - The Hong Kong Stock Connect will also suspend services during the same period, resuming on October 9 [5]. Government Bond Reverse Repo Overview - Government bond reverse repos are essentially short-term loans where individuals lend their funds to earn fixed interest, with government bonds used as collateral by the borrower [9]. - The safety and yield of government bond reverse repos are considered equivalent to government bonds, making them a good option for managing idle funds, especially before holidays [9]. Participation Guidelines for Reverse Repos - The minimum investment for government bond reverse repos is 1,000 yuan, with various term options available for investors to choose from [13]. - Investors are advised to consider higher-yielding options when the interest days are the same across different products [13]. Specific Strategies for the Holiday Period - A detailed schedule for participation in government bond reverse repos is provided, indicating the optimal days for different term lengths to maximize interest earnings during the holiday [11][14]. - For example, a 1-day term on September 29 can yield interest for 9 days, while a 7-day term starting on September 23 can yield for 15 days [11][14]. Additional Information on Investment Products - The article introduces "Baolixin/Baoliyuan," which refers to the quote repurchase business of Shenwan Hongyuan Securities, allowing investors to use their assets as collateral for financing [15]. - The participation process for these products is outlined, emphasizing the ease of access through the Shenwan Hongyuan Securities app [16].

Core Viewpoint - The article provides an overview of the holiday market closure schedule and introduces strategies for participating in government bond reverse repos during the National Day and Mid-Autumn Festival holidays in 2025 [5][11][14]. Market Closure Schedule - The A-shares market will be closed from October 1 (Wednesday) to October 8 (Wednesday) for the National Day and Mid-Autumn Festival, resuming normal trading on October 9 (Thursday) [5]. - The Hong Kong Stock Connect will also be unavailable from October 1 to October 8, with services resuming on October 9 [5]. Government Bond Reverse Repo Overview - Government bond reverse repos are essentially short-term loans where individuals lend their funds to earn fixed interest, with government bonds used as collateral by the borrower [9]. - The safety and yield of government bond reverse repos are considered equivalent to government bonds, making them a good option for managing idle funds, especially before holidays [9][13]. Participation Strategies - Investors can participate in government bond reverse repos with a minimum investment of 1,000 yuan, with various term options available [13]. - It is advisable to consider higher-yielding options when the interest days are the same across different products [13]. - For maximizing holiday earnings, investors should execute one-day reverse repos two trading days before the market closure [13]. Specific Participation Dates and Terms - The article outlines specific participation dates and corresponding interest days for various term options leading up to the holiday [11][14]. - For example, a 7-day term starting on September 23 will have a total of 15 interest days, while a 1-day term on September 29 will have 9 interest days [11][14]. Product Introduction - The article introduces "Baolixin/Baoliyuan," which is a quote-based repurchase business involving the use of self-owned assets as collateral for financing, with returns paid to investors upon maturity [15].