Core Viewpoint - The company announced a securities investment quota of 1.3 billion yuan for the year 2025, aiming to enhance capital efficiency and profitability while maintaining a cautious investment approach [2] Investment Strategy - The company's securities investments will include relatively low-risk government and local bonds, as well as quantitative products with neutral and arbitrage strategies, rather than high-risk stocks or subjective long positions [2] - The company adheres to a prudent investment principle, continuously improving internal control systems and optimizing investment strategies to strictly control the scale of investments and reduce risks [2] Risk Management - The company emphasizes strict control over the scale of securities investments as the primary measure to lower investment risks and reduce performance volatility [2] - Recent adjustments have been made to lower positions in response to potential market fluctuations, maintaining a relatively stable investment quota over the years [2] Investment Philosophy - The company adopts a conservative investment strategy to minimize risks and performance fluctuations, focusing on long-term investments related to its existing or planned business areas [2] - Continuous learning and communication among investment personnel are encouraged to enhance investment capabilities and ensure effective selection of investment targets [2] Overall Assessment - The company's securities investment scale is deemed reasonable, with overall investment risks being controllable and a relatively stable return level [2] - The company aims to improve investment levels and the stability of returns while ensuring risk control, striving to provide better returns for shareholders [2]