Core Viewpoint - Recently, Jianxin Wealth Management announced a suspension of redemption applications for eight fixed-income daily open-end products due to significant redemptions triggered on June 27, indicating a trend of large-scale redemptions in the wealth management sector [1][2]. Group 1: Redemption Events - Jianxin Wealth Management issued eight announcements regarding large-scale redemptions involving 15 products from June 26 to July 1, with multiple products triggering redemptions twice [2][4]. - The eight products that triggered large-scale redemptions are all fixed-income daily open-end products, including the Jiaxin series, Jianxinbao series, and Longbao series [2][3]. - Specific products such as Jianxinbao No. 11 and No. 20, Longbao No. 4 and No. 5, and Jiaxin (Stable Profit) No. 8 triggered large-scale redemptions on June 30 and July 1 [2]. Group 2: Market Context - Large-scale redemptions in wealth management products, while not common, have been observed in other institutions such as Huibin Wealth Management and Zhaoyin Wealth Management, indicating a broader trend in the industry [5][6]. - The occurrence of large-scale redemptions is often linked to underperformance of the products, low customer satisfaction, and the impact of new asset management regulations on old and new products [1][8]. Group 3: Redemption Mechanisms - The regulatory framework defines large-scale redemptions as those exceeding 10% of the total product shares on a single open day [2]. - Many wealth management products have "large-scale redemption clauses" that allow for the suspension of redemption applications or delays in the payment of redemption amounts to protect the stability of the product [6][7]. - The rationale behind these clauses is to prevent significant asset value fluctuations and ensure the stable operation of the products, thereby safeguarding investors' long-term interests [7].