随着银行存款利率持续下行，中长期存款的利率水平已经从3%以上降至"1"字头。今年，大批收益较高 的存款即将迎来"到期潮"，资金去向再度引发市场关注。 《国际金融报》记者注意到，当前市场观点普遍认为，不必过度担心"存款搬家"入市的问题，基于居民 风险偏好并未出现实质性变化，大多数存款仍将留在银行体系内。与此同时，低风险投资者面临到期资 金如何配置的问题，记者咨询发现，银行客户经理大多给出分散配置的建议，而分红险也成为近期的热 推产品之一。 受访专家指出，释放的资金预计将呈现"多元分散、偏重安全"的配置格局，而非集中涌入单一市场。低 风险偏好的投资者则应坚持"稳定配置、理性择品"策略，规避盲目跟风与不切实际的高收益预期。 到期存款大量入市可能性低 "银行理财成为核心承接阵地，其中低波动的固收类及'固收+'产品因收益略高于定存且风险可控，将吸 纳大量资金。部分资金会借道'固收+'基金、权益类基金间接入市，为股市带来边际增量，但受制于居 民整体风险偏好，资金大规模直接入市的可能性较低。"朱润康分析说。 东方证券分析师刘姜枫更是在研报中直言，所谓"天量"存款到期催化的"存款搬家"，以及长期累积的外 汇顺差集中结汇，通过 ...

国盛证券（002670）分析师杨业伟将同期限到期时收益率和发行时收益率下降大于50基点(BP)的存款， 定义为易流失的高息存款，包括居民存款和企业存款。测算数据显示，虽然到期存款规模较大，但实际 上高息定期存款到期规模边际增量并不大。2026年到期的高息定期存款同比多增1.9万亿元，边际变化 相对有限。 随着银行存款利率持续下行，中长期存款的利率水平已经从3%以上降至"1"字头。今年，大批收益较高 的存款即将迎来"到期潮"，资金去向再度引发市场关注。 《国际金融报》记者注意到，当前市场观点普遍认为，不必过度担心"存款搬家"入市的问题，基于居民 风险偏好并未出现实质性变化，大多数存款仍将留在银行体系内。与此同时，低风险投资者面临到期资 金如何配置的问题，记者咨询发现，银行客户经理大多给出分散配置的建议，而分红险也成为近期的热 推产品之一。 受访专家指出，释放的资金预计将呈现"多元分散、偏重安全"的配置格局，而非集中涌入单一市场。低 风险偏好的投资者则应坚持"稳定配置、理性择品"策略，规避盲目跟风与不切实际的高收益预期。 到期存款大量入市可能性低 中金公司（601995）在此前发布的研报中测算指出，基于42家A股 ...

Core Viewpoint - Hongbaoli Group Co., Ltd. has announced the use of up to RMB 500 million of idle self-owned funds for entrusted wealth management and reverse repurchase of government bonds, with a validity period of one year from the date of approval at the first extraordinary shareholders' meeting in 2026 [1] Group 1 - As of January 13, 2026, Hongbaoli's stock closed at RMB 7.84, down 2.61% from the previous trading day, with a total market value of RMB 5.765 billion [1] - The stock opened at RMB 8.05, reached a high of RMB 8.07, and a low of RMB 7.82, with a trading volume of RMB 277 million and a turnover rate of 4.8% [1] - The investment will include short-term financial products issued by commercial banks and securities companies, as well as short-term government bond reverse repurchase products traded on the Shanghai and Shenzhen exchanges [1]

Core Viewpoint - Hongbaoli Group Co., Ltd. plans to utilize up to 500 million yuan of idle self-owned funds for low-risk investments to enhance capital efficiency while ensuring normal operations [1][2]. Investment Plan - The investment will involve a rolling use of 500 million yuan, focusing on short-term low-risk products [2]. - The company aims to invest in two types of low-risk products: short-term financial products issued by reputable financial institutions and short-term treasury reverse repurchase agreements [2]. - The investment period is valid for one year from the date of approval by the first extraordinary shareholders' meeting in 2026 [2]. Risk Control - Hongbaoli has established multi-dimensional control measures to mitigate investment risks, ensuring that investment funds are solely from idle self-owned funds [3]. - The company will prioritize collaboration with reputable financial institutions with stringent risk control [3]. - The board has authorized the general manager to approve operations within the set limits, with the finance department responsible for execution and independent directors and the audit committee overseeing fund usage [3]. Impact on the Company - The investment will not affect the company's daily cash flow or normal business operations, potentially increasing investment returns and positively impacting operational performance [4]. - The company acknowledges potential risks, including market volatility and operational risks, and will adjust investment strategies based on economic conditions and market changes [4].

Core Viewpoint - The traditional method of saving money in fixed deposits is becoming less favorable due to low interest rates that do not keep pace with inflation, leading to potential loss of purchasing power [1][3]. Group 1: Traditional Fixed Deposits - Current interest rates for one-year fixed deposits range from 1.5% to 2.5%, while three-year and five-year rates are around 2.8% [1]. - The interest earned on a fixed deposit of 300,000 at a 2% annual rate is 6,000, but after tax, the net amount is lower, and the funds are locked, reducing liquidity [3]. - Fixed deposits pose a liquidity risk, as funds cannot be accessed without penalties, which can lead to financial strain in emergencies [3]. Group 2: Alternative Investment Options - Large denomination certificates of deposit (CDs) offer higher interest rates, typically 0.3% to 0.5% more than regular fixed deposits, providing better returns and improved liquidity [4]. - Bonds, especially government bonds, have interest rates between 2.5% and 3%, offering higher returns than fixed deposits without locking funds for extended periods [4]. - Short-term financial products from banks and financial institutions yield rates between 3% and 5%, significantly higher than fixed deposits, with flexible terms [4]. Group 3: Investment Strategies - A diversified approach is recommended, where a portion of funds is kept in fixed deposits for stability, while the rest is invested in higher-yielding short-term financial products [5]. - Low-risk funds, such as bond and mixed funds, typically yield 4% to 6% annually, surpassing fixed deposit returns and allowing for liquidity [7]. - Money market funds, like Yu'ebao, offer competitive returns of around 2% to 2.5% with high liquidity, making them a viable alternative to fixed deposits [7]. Group 4: Asset Allocation Recommendations - A suggested allocation includes 30% to 40% of funds in highly liquid products for emergencies, 30% in large denomination CDs or short-term fixed deposits for stability, and 30% in bonds or low-risk funds for higher returns [9][11]. - Regular review of investment strategies is essential to adapt to changing market conditions and ensure optimal asset allocation [11]. Group 5: Financial Literacy and Caution - The increasing variety of financial products presents opportunities but also risks, necessitating careful selection of reputable institutions to avoid scams [8][12]. - Older generations may need assistance in understanding modern financial products, emphasizing the importance of educating them on current investment options [12].

Group 1 - The company held its 18th meeting of the 9th Board of Directors on December 25, 2025, with all 11 directors participating in the voting process [2][4][5] - The board approved a proposal to apply for credit facilities from banks, including a total of up to RMB 190 million from Agricultural Bank of China and RMB 150 million from Huaxia Bank, with varying validity periods [3][4] - The board also approved a proposal for the company and its subsidiaries to use idle self-owned funds for entrusted wealth management, with a total amount not exceeding RMB 200 million [6][9] Group 2 - The purpose of the entrusted wealth management is to effectively utilize idle funds generated during the year-end peak collection period while ensuring the company's operational needs and fund safety [11][21] - The company plans to invest in low-risk, high-safety, and liquid short-term financial products, with individual product durations not exceeding 12 months [10][13] - The funds used for entrusted wealth management will come entirely from the company's self-owned funds, ensuring compliance with legal and regulatory requirements [14][21] Group 3 - The board meeting followed necessary approval procedures as per relevant regulations, and the entrusted wealth management does not require shareholder meeting approval [15][22] - The company has established risk control measures, including real-time analysis of investment products and adherence to a strict investment management system [19][20] - The entrusted wealth management is expected to enhance investment returns for shareholders without affecting the company's daily operations or main business development [21][22]

Core Viewpoint - The company announced a plan to utilize idle self-owned funds for low-risk, short-term financial products, with a total amount not exceeding 200 million yuan [1] Group 1: Financial Strategy - The company and its subsidiaries plan to use up to 200 million yuan of idle self-owned funds for financial investments [1] - The investment period for these financial products will not exceed 12 months, and the funds can be rolled over [1] - The financial products will be low-risk and short-term, ensuring minimal impact on daily operations [1] Group 2: Governance and Reporting - The board of directors approved the financial management proposal without the need for shareholder meeting approval [1] - The company will implement multiple risk control measures and disclose the financial gains and losses in regular reports [1] - The sponsor has no objections to the proposed financial management strategy [1]

Core Viewpoint - The company has approved the use of up to RMB 1 billion of idle funds for cash management through the purchase of short-term financial products, ensuring safety and liquidity [1] Group 1: Cash Management Details - The company has invested a total of RMB 210 million in financial products issued by Bohai Bank [1] - The investment is part of a broader approval for cash management activities, which includes the use of idle funds for financial products with a maturity of no more than 12 months [1] Group 2: Related Party Transactions - Bohai Bank, where the company has invested, is a related party as the company's indirect controlling shareholder holds 20.34% of its shares [1] - The bank's registered capital is RMB 1,776.2 million, with total assets of RMB 1,905.876 billion and liabilities of RMB 1,792.743 billion as of September 30, 2025 [1] Group 3: Risk Control Measures - The company aims to manage risks by investing in high-safety, liquid short-term financial products issued by major banks or securities institutions [3] - The finance department is responsible for managing these investments and monitoring any potential risks [3] - Regular audits and checks will be conducted by the audit department and independent directors to ensure compliance and safety of the investments [3] Group 4: Impact on the Company - The cash management strategy is designed to enhance fund utilization efficiency without affecting the company's daily operations or core business development [4] - This approach is expected to yield certain investment returns, thereby improving overall performance and safeguarding shareholder interests [4] Group 5: Historical Cash Management Activities - Over the past twelve months, the company has utilized a total of RMB 800 million for cash management, which remains within the authorized limits set by the shareholders' meeting [5]

Group 1 - The financial environment for ordinary families in 2025 is increasingly complex, characterized by stagnant wage growth, rising prices, declining bank interest rates, a sluggish real estate market, and volatile stock markets [1] - Cash flow is emphasized as the foundation of family financial management, ensuring liquidity is crucial for any investment strategy to succeed [3] Group 2 - Real estate is shifting from a core wealth growth channel to a more cautious investment approach, with a focus on self-occupation rather than speculative gains [4] - Families are advised to maintain emergency funds covering 6-12 months of living expenses, and to diversify investments in liquid assets and short-term financial products [5] Group 3 - The stock market and funds are highlighted as key tools for wealth appreciation, with a long-term investment strategy recommended rather than short-term speculation [6][7] - A diversified asset allocation is suggested, including a 10% allocation to gold for inflation protection and overseas assets to mitigate domestic market risks [7] Group 4 - The overall wealth management strategy for families in 2025 should focus on cash flow for living expenses, long-term investments in quality stocks or funds, and a balanced approach to real estate and alternative assets [9]

Core Viewpoint - The company has approved the use of up to RMB 2.4 billion of idle funds for cash management, aiming to enhance investment returns while ensuring operational safety [1][5]. Group 1: Cash Management Approval - The company convened its fifth board meeting on September 29, 2024, where it approved a proposal to increase the cash management limit using idle self-owned funds [1]. - The approved cash management limit is valid for 12 months from the date of the board's approval, allowing for rolling use of the funds within this limit [1]. Group 2: Investment in Financial Products - The company plans to invest in low-risk financial products, ensuring that these investments do not affect normal operations or the safety of funds [2][5]. - As of the announcement date, the company has invested a total of RMB 1 billion in financial products that have not yet matured [6]. Group 3: Risk Control Measures - The company will analyze and monitor the investment products and their progress, taking timely actions to mitigate risks if adverse factors are identified [4]. - The internal audit department will oversee the use and custody of cash management funds, reporting to the board's audit committee [4]. Group 4: Impact on the Company - The investment in short-term financial products is expected to generate additional investment returns without disrupting the company's normal business operations [5]. - The strategy aims to improve the efficiency of fund utilization and provide greater returns for the company and its shareholders [5].