银行理财子公司成立6年时间，已然成为了老百姓金融资产的压舱石，这背后主要是老百姓对于银行理 财的信任。 对于老百姓而言，好的理财需要兼顾安全稳定和高于普通存款的收益的特点，在当前我国逐渐进入低利 率的大环境下，单纯依靠债券票息并不容易达到投资者对理财产品的收益预期，这对理财公司的投研能 力提出了更高的要求。 随着市场步入低利率时代，理财产品中的票息"保护垫"在变薄，投资者对波动的感受也更加明显，但银 行理财稳健的基因并没有改变，在这种趋势下要保持理财的基因，势必要求理财公司提出新的解决方 案。为此，平安理财构建了"工业化+平台化"的投资管理模式。 "工业化+平台化"投资管理模式能够高效地整合公司内外部的优质资源和投资策略，形成全量、全域、 同宽、共享、协作的平台化能力和组织优势，在严控回撤前提下实现更高的长期业绩达标率；更为理财 公司拓展多资产、多策略奠定了更扎实的平台基础，伴随着时间沉淀，形成适应多种市场环境与波动的 可持续投资优势。 "强交易+量化"双轮驱动 打造固收旗舰 据悉，平安理财对固收系列产品的收益增强要求与公募基金同类型产品保持一致，但净值回撤需控制在 后者的一半。在低波导向下，平安理财投资条线 ...

Core Insights - The report highlights that Ping An Wealth Management ranked fourth in the comprehensive competitiveness of bank wealth management companies for the first half of 2025, focusing on product issuance, returns, research capabilities, risk control, and sustainability [1] - The investment research capability is identified as a key factor determining product structure depth and competitiveness, with a significant dominance of fixed-income products, which account for over 97% of the total, while the proportion of mixed products is gradually increasing [1][2] - The trend towards long-term products is confirmed, with over 72.86% of products having a duration of more than one year, indicating a growing acceptance among investors for long-term allocations [1] Product Performance - As of July 2025, Ping An Wealth Management's fixed income and fixed income+ products achieved an average annualized return of 3.46%, significantly outperforming peers [2] - The company's product net loss ratio is only 0.65%, and the proportion of products with negative returns is just 0.55%, both substantially lower than the industry average [2] Risk Control and Investor Behavior - The report notes a shift in investor risk preferences, with a decline in conservative investors and a rise in aggressive investors since 2023, reflecting a desire for higher returns in a low-interest-rate environment [2] - Despite this shift, the overall risk control levels of bank wealth management companies have declined compared to the previous year, with noticeable disparities in the management of medium to high-risk products [2] Product Example - The "Qihang Enhanced Stable Income" series, a flagship product of Ping An Wealth Management, targets R2 low to medium-risk fixed-income investments, offering various terms from 30 days to over a year [3] - This product series has achieved an average annualized return of 3.76% since its inception in November 2023, with a 100% performance benchmark compliance rate for fixed-term products [3] Future Outlook - Ping An Wealth Management aims to strengthen its core investment research capabilities and enhance its market influence, positioning itself as a key player in wealth management and contributing to national high-quality development [4]