Core Viewpoint - The company announced adjustments to the large-scale subscription limits for the Yinhua Taili Flexible Allocation Mixed Securities Investment Fund, effective November 26, 2025, and November 27, 2025, with specific limits set for different classes of fund shares [1][2]. Summary by Sections Fund Subscription Adjustments - Starting from November 26, 2025, the total subscription amount for each fund account for the Yinhua Taili Flexible Allocation Mixed Securities Investment Fund (both A and C class shares) will be capped at 10 million yuan. Any subscription exceeding this limit may be partially or fully rejected by the fund manager [1]. - From November 27, 2025, the subscription limit will be further reduced to 100,000 yuan for each fund account. Similar rules apply regarding the rejection of subscriptions exceeding this amount [2]. Subscription Processing Rules - If a single subscription exceeds the specified limits, the fund manager has the authority to confirm the failure of that subscription. For multiple subscriptions, the fund manager will process them in order of amount until the total does not exceed the limit, with any excess being rejected [1][2]. - The fund manager will only confirm or reject single subscription applications without partial confirmations [1][2].

Core Points - The company announced adjustments to the large-scale subscription (including regular investment and transfer-in) for the Yinhua Taili Flexible Allocation Mixed Securities Investment Fund starting from November 19, 2025, with a subscription limit of 5 million yuan per account [1] - From November 20, 2025, the subscription limit will be further reduced to 100,000 yuan per account for the same fund [2] Summary by Category Fund Subscription Adjustments - The subscription limit for the Yinhua Taili Flexible Allocation Mixed Securities Investment Fund will be set at 5 million yuan per account starting November 19, 2025 [1] - The fund management has the right to reject any subscription requests exceeding this limit, either partially or fully [1] - From November 20, 2025, the subscription limit will be reduced to 100,000 yuan per account, with similar rejection rights for exceeding amounts [2] Fund Management Policies - The fund management will confirm successful subscriptions only if they do not exceed the specified limits, processing requests in order of amount until the limit is reached [1][2] - There will be no partial confirmations for single subscription requests; only full confirmations or rejections will be issued [1][2]

Core Viewpoint - The report provides an overview of the performance and strategy of the Yinhua Taili Flexible Allocation Mixed Securities Investment Fund for the second quarter of 2025, highlighting its investment objectives, strategies, and financial performance metrics [2][3][19]. Fund Overview - Fund Name: Yinhua Taili Flexible Allocation Mixed Fund - Fund Manager: Yinhua Fund Management Co., Ltd. - Fund Custodian: Industrial and Commercial Bank of China Ltd. - Total Fund Shares at Period End: 73,615,512.91 shares [2][4]. Investment Strategy - The fund employs a combination of quantitative and qualitative analysis to evaluate market trends, expected risk-return levels, and timing for asset allocation, focusing on equities, fixed income, and cash [3][19]. - The fund's investment portfolio requires that stock investments account for 0%-95% of the fund's assets, with a minimum of 5% in cash or government bonds maturing within one year [13][19]. Financial Performance - As of the end of the reporting period, the net asset value (NAV) per share for Class A was 1.6876 RMB, with a growth rate of 1.55%, while Class C had an NAV of 1.5132 RMB and a growth rate of 1.48% [20]. - The performance benchmark for the fund is the one-year RMB time deposit rate (after tax) plus 1.00% [3][20]. Market Conditions - The report notes that external risks, such as trade wars and geopolitical conflicts, have influenced global capital market volatility, but the impact has gradually weakened, leading to a recovery in global risk assets [19]. - Domestic policies aimed at addressing trade challenges and optimizing capital markets have improved market confidence and risk appetite, contributing to a rebound in the stock market [19]. Asset Allocation - The fund's asset allocation at the end of the reporting period included approximately 3.38% in equities and 15.90% in bonds [21]. - The fund's investment strategy focuses on maintaining a certain level of equity exposure while emphasizing pricing advantages and excess return capabilities in specific strategies [19][21]. Shareholder Information - The total shares for Class A increased from 16,170,269.36 to 17,604,127.46 during the reporting period, while Class C shares rose from 968,546.66 to 56,011,385.45 [22].