Core Viewpoint - The recent downturn in the bond market has created opportunities for fixed-income products to identify undervalued assets, particularly highlighted by the performance of the "Lingflex·Hongyun Daily Open 10 A" product, which has gained popularity among investors [1][5]. Group 1: Market Conditions - The bond market has been declining for over two months, impacting the net value of fixed-income products [1][5]. - Concerns regarding new regulations for public funds may increase short-term trading costs, potentially reducing the attractiveness of bond funds [5]. Group 2: Product Performance - The "Lingflex·Hongyun Daily Open 10 A" product has seen over 150,000 sales in the past 30 days, ranking first in the Postal Savings Bank's app for popular financial products [1]. - The product's annualized return since inception is approximately 3.6%, with a recent average net value growth rate of 1.75% for similar products in the first half of the year [7][10]. - The product scored 21 points for yield performance and 99 points for risk control, ranking it in the top 15% of similar products [7][10]. Group 3: Investment Strategy - The product focuses on discovering undervalued investment opportunities that meet liquidity requirements, employing various strategies such as duration management and spread strategies [10][19]. - The investment portfolio primarily consists of cash, bonds, and debt financing tools, with at least 70% allocated to these assets [10][16]. Group 4: Risk and Fees - The product has a risk level classified as secondary (medium-low), making it suitable for conservative investors [19]. - The comprehensive fee rate is 0.48%, which is competitive compared to similar products [10][15].