青银理财积极践行养老金融使命。以田园系列产品作为公司服务养老金融的重要载体，定位精准，深度 契合养老资金安全稳健、长期增值的核心需求。该系列产品均为固定收益类产品，投资策略稳健，主要 配置于信用等级高、流动性好的债券及优质非标资产，通过科学的资产配置与严格的风控管理，力求实 现资产的稳步增值，有效抵御通货膨胀对养老资金的侵蚀，切实守护客户的养老财富。"田园系列"固定 收益类产品，累计发行105只，募集规模超69亿元。 服务实体：从"资金中介"到"战略伙伴"的角色转变 青银理财始终牢记"服务实体经济"的使命，将资金精准投向国家战略领域，成为连接居民财富与实体经 济的重要纽带。 2019年，随着《商业银行理财子公司管理办法》的正式实施，银行理财子公司作为资管行业的新生力量 登上舞台。2020年，青银理财秉承青岛银行深耕区域、稳健经营的优质基因，应时代浪潮与市场需求应 运而生，成为我国北方地区首家、全国第六家成立的城商行理财子公司。在母行青岛银行即将迎来29岁 生日之际，青银理财亦已历经五载春秋。成立以来，青银理财紧跟母行战略转型要求，从"洁净起 步"到"质效优先"，从"产品转型"到"服务升级"，青银理财始终坚守" ...

2019年，随着《商业银行理财子公司管理办法》实施，银行理财子公司作为资管行业的新生力量登上舞 台。 2020年，青银理财秉承青岛银行深耕区域、稳健经营的优质基因，应时代浪潮与市场需求而诞生，成为 我国北方地区首家、全国范围内第六家成立的城商行理财子公司。2025年，在母行青岛银行即将迎来29 岁生日之际，青银理财亦已历经五载春秋。 成立以来，青银理财紧跟母行战略转型要求，从"洁净起步"到"质效优先"，从"产品转型"到"服务升 级"，青银理财始终坚守"受人之托、代人理财"的初心，以专业能力对接居民财富管理需求，以创新举 措服务实体经济，在资管新规与母行战略的引领下走出了一条规范、稳健、特色化的发展之路。 规范转型： 从"规模扩张"到"价值创造"的理念蝶变 五年来，青银理财立足居民财富升级需求，坚持大类资产配置，推动产品体系从"单一固收"向"多元配 置"拓展，逐步形成了涵盖现金管理、固收、"固收+"、权益、"五篇大文章"主题产品等多元化产品矩 阵。 其中，"固收+"产品一直以来是青银理财战略布局的重点方向，在严格控制风险敞口的前提下，青银理 财积极前瞻布局，以绝对收益理念动态管理权益资产配置比例，较好把握了收益 ...

Core Insights - The performance of wealth management subsidiaries in the first half of the year shows significant divergence, with some experiencing a decline in net profit exceeding 30% compared to the same period in 2024 [1][2] Group 1: Wealth Management Product Balances - As of the end of June, 13 wealth management subsidiaries had a total balance of managed wealth management products exceeding 1 trillion yuan, with 3 subsidiaries surpassing 2 trillion yuan: China Merchants Bank Wealth Management (24,600 billion yuan), Xinyin Wealth Management (23,155.77 billion yuan), and Bank of China Wealth Management (21,300 billion yuan) [2] - Several subsidiaries reported year-on-year increases in managed wealth product balances, with Ningyin Wealth Management growing by 26.95% and Hengfeng Wealth Management by 25.08% [2] - Conversely, some subsidiaries saw declines in managed product balances, with the largest drop reaching 11.90% [2] Group 2: Net Profit Trends - Among 22 wealth management subsidiaries that disclosed their net profit for the first half of the year, 6 reported net profits exceeding 1 billion yuan, with China Merchants Bank Wealth Management and Bank of China Wealth Management leading at 1.364 billion yuan and 1.358 billion yuan, respectively [2] - Notably, several subsidiaries experienced significant declines in net profit, with Ping An Wealth Management and Qingyin Wealth Management reporting decreases of -41.28% and -35.68%, respectively [2][3] Group 3: Industry Trends and Developments - The wealth management industry is witnessing a trend of increasing concentration, with leading institutions capturing a larger market share, while smaller institutions are attempting to differentiate themselves through niche strategies [4] - The net profit growth rate is polarized, driven by an optimization of product structures, with a notable increase in fixed-income products and a decline in cash management products due to stricter regulations [4] - The transition towards green finance is becoming a key focus for wealth management subsidiaries, with initiatives to develop ESG-themed products and align with national sustainability goals [5][6][7] Group 4: Green Finance Initiatives - Green finance is emerging as a significant development direction for wealth management subsidiaries, with examples including the issuance of ESG-themed products and investments in green bonds [5][6] - Wealth management companies are encouraged to integrate green finance into their strategic frameworks, enhance their ESG product offerings, and leverage digital finance innovations [7][8] - The establishment of an ESG management system and the development of differentiated green financial products are essential for gaining a competitive edge in the market [7][8]