Core Viewpoint - A new financial product that balances long-term asset appreciation with daily cash flow needs is transforming traditional investment strategies in the wealth management market [1] Group 1: Product Overview - The monthly payment collective trust plan launched by Huabao Securities in collaboration with trust institutions has surpassed a scale of 400 million yuan, marking a significant step from concept validation to market acceptance [1] - The product has been operating smoothly for one year, indicating its stability and market recognition [1] Group 2: Market Demand and Design - The product was designed in response to the low interest rate environment and the increasing importance of income stability and predictability alongside long-term growth [2] - Unlike traditional dividend products that depend on investment income fluctuations, the monthly payment product guarantees fixed cash flow distributions at predetermined times and ratios, independent of current investment returns [2] Group 3: Investment Strategy and Operational Requirements - Achieving high-frequency and certain cash flow distributions requires robust investment strategies and diverse sources of returns [3] - The product employs Huabao Securities' "Time Traveler" multi-asset allocation strategy to mitigate single market volatility and ensure stable long-term returns for monthly cash distributions [3] - The operational model relies on collaborative efforts among various trust institutions, enhancing strategic synergy and operational support [3] Group 4: Future Development and Wealth Management Integration - The monthly payment product is expected to evolve from a standalone offering to a comprehensive service ecosystem, particularly in the context of retirement planning [4] - Future developments may integrate stable cash flows with professional elder care services, transforming the product into a holistic retirement solution [4] - The product can also be embedded in family trusts to meet complex wealth management goals for high-net-worth clients [4] - Continuous optimization of underlying strategies will be crucial for the product's long-term viability, with potential inclusion of strategies like dividend index enhancement to broaden revenue sources [4]