Core Viewpoint - The interest rates for large time deposits in state-owned and joint-stock banks have dropped to the "1" range after multiple rounds of interest rate cuts, with some banks removing large time deposits with terms longer than three years [1][2] Group 1: Current Market Conditions - Large time deposits with interest rates above 2% are rarely found, primarily in regional and internet banks [1] - Internet banks are offering higher interest rates on large time deposits, but these products often have limited availability and require reservations, leading to waiting times of one week to several months [1][5] - The starting amount for large time deposits is generally 200,000 yuan, with rates slightly higher than regular fixed deposits, and they are included in the deposit insurance scheme [1] Group 2: Specific Bank Offerings - WeBank offers two types of "large time deposit+" products with interest rates of 3% and 2.1%, respectively, but the former is currently unavailable for reservations [1][2] - MyBank has a two-year large time deposit with a listed interest rate of 1.6% and a dedicated transfer area for high-interest deposits [2] - Citic Baixin Bank limits the issuance of high-interest large time deposits to new customer benefits, with a current rate of 2.1% for two-year deposits [2] Group 3: Financial Performance and Strategies - Internet banks are experiencing a narrowing net interest margin, with private banks' net interest margin decreasing from 4.11% at the end of last year to 3.91% by mid-year, although still higher than most traditional banks [5] - WeBank's net interest margin is projected to decline from 6.04% at the end of 2023 to 5.71% by mid-2024, while MyBank's is expected to rise slightly from 3.34% to 3.48% in the same period [5] - Internet banks are implementing various measures to control funding costs, including promoting the transfer of maturing fixed deposits to bank wealth management products and reducing fixed deposit rates [5][6]

Core Viewpoint - The company plans to continue using part of its temporarily idle raised funds for cash management to improve fund management efficiency without affecting the construction of fundraising projects [1][6]. Fundraising Basic Situation - The company issued 693,009,118 shares at a price of 3.29 RMB per share, raising a total of approximately 2.28 billion RMB, with a net amount of about 2.27 billion RMB after deducting issuance costs [1][2]. Reasons for Idle Funds - As of June 2025, the company had a balance of 565 million RMB in raised funds, with cumulative usage of 1.736 billion RMB, including 1.114 billion RMB for previous projects and 70 million RMB for 2025 projects [3][5]. Previous Cash Management - By the end of June 2025, the company had used 445 million RMB of temporarily idle funds for cash management, which was within the approved limit of 450 million RMB [3][4]. Current Cash Management Plan - The company aims to use up to 450 million RMB of idle funds for cash management, with a usage period of 12 months from the board's approval date [5][6]. Investment Products and Safety - The company will invest idle funds in low-risk products such as time deposits, large certificates of deposit, and 7-day notice deposits to ensure safety [5][6]. Decision-Making Process - The board of directors approved the cash management plan, and the sponsor provided a special verification opinion confirming compliance with regulations [6][8].

Core Viewpoint - The company has approved the use of idle raised funds for cash management, ensuring that it does not affect the implementation of investment plans and effectively controls investment risks [1][2]. Summary by Sections Cash Management Plan - The company will use up to RMB 586 million of temporarily idle raised funds for cash management, investing in low-risk, high-liquidity financial products with principal protection from reputable financial institutions [1]. - The investment period will not exceed 12 months from the date of board approval, allowing for rolling use of funds within the specified limit [1]. Redemption Situation - The company redeemed RMB 5 million of temporarily idle raised funds through a 7-day notice deposit with China Merchants Bank, receiving a total return of RMB 7,777.78 [1]. - The principal and earnings from this investment have been returned to the raised funds account [1]. Recent Cash Management Activities - In the past 12 months, the company has made 6 investments in cash management products totaling RMB 716 million, with 2 redemptions amounting to RMB 135 million and 4 investments still outstanding totaling RMB 581 million [1]. - The highest single-day investment amount in the last 12 months was RMB 586 million, representing 16.58% of the company's net assets for the past year [1]. Financial Performance Metrics - The cumulative return from cash management in the last 12 months is 0.0056% of the company's net profit for the same period [2]. - The total amount of funds currently utilized for financial management is RMB 581 million, with an unused limit of RMB 5 million, making the total financial management limit RMB 586 million [2].

先看看具体调整：建行和招行的活期利率都降到0.05%，存100万一年利息才50块，基本等于白送银行保管。定期存款里，三个月到两年期利率统一下调15 个基点，三年期和五年期更狠，直接降25个基点，现在存5年的利率只有1.3%，存10万块钱到期利息才650元，还不够吃顿火锅。连7天通知存款利率也降到 0.3%，5万块起存的产品，存一年利息才150元，这收益还不如余额宝的零头。 其实这不是个别现象，今年4月以来已经有20多家银行跟进降息，存款利率全面进入"1时代"。更有意思的是，很多银行出现"存5年不如存1年"的倒挂现象。 比如建行三年期定存1.9%，五年期反而降到1.55%；招行的"灵动存"产品，1年期利率1.6%，存3年、5年反而更低。这背后是银行在规避未来利率下行的风 险——如果现在锁定长期高息存款，万一以后利率继续降，银行就得长期支付高成本利息，相当于给自己戴上"金手铐"。 对咱们普通老百姓来说，这波降息至少带来三个影响： 作为20年的财经老司机，我给大家支三招： 第一招：货比三家，抓住高息窗口期 小伙伴们，我是帮主郑重，今天必须跟大家聊个大新闻——建设银行和招商银行在5月20号齐刷刷宣布降息，一年期定存利 ...