Core Viewpoint - The main revisions of the "Guidelines for Valuation of Financial Instruments by Securities Companies" focus on enhancing the accuracy and reliability of financial instrument valuations through increased frequency and improved methodologies [1] Group 1 - The guidelines emphasize the need for more frequent valuations of financial instruments to ensure accurate results [1] - There is an introduction of requirements for securities companies to utilize third-party valuation data, enhancing the credibility of the valuation process [1] - The valuation methods for fixed income products have been adjusted to primarily rely on prices provided by third-party valuation agencies [1] Group 2 - New valuation methods have been added for fixed income products and risky bonds that do not have publicly available valuation data, reflecting recent market conditions [1] - The guidelines include specific valuation clauses for unlisted stocks with clear lock-up periods, asset management products, and illiquid derivatives traded on exchanges [1] - The cost of fair value estimation has been lowered in the hierarchy, and non-exchange derivative valuation methods have been further refined to improve the overall quality of financial instrument valuations [1]