CCTV News: On April 8, a relevant person in charge of Central Huijin Company answered reporters' questions on the announcement on April 7, 2025.

Q: What is the positioning and role of Central Huijin Company in maintaining the stability of the capital market?

Answer: Central Huijin Investment Co., Ltd. (hereinafter referred to as Central Huijin Company) is a wholly state-owned company and is currently the controlling shareholder of more than 20 financial institutions. Central Huijin Company has always been an important strategic force in maintaining the stability of the capital market, and is the "national team" in the capital market, playing the role of a "standard fund". Since 2008, Central Huijin Company has participated in maintaining the stability of the capital market many times and actively improved the inherent stability of the capital market.

Q: How does Central Huijin Company view the development prospects of China's capital market?

A: The Central Huijin Company is firmly optimistic about the development prospects of the capital market, and the fundamental reason lies in its optimism about the bright future of China's economy. At present, my country's high-quality development is steadily advancing, new quality productivity is booming, the foundation for sustained economic recovery and improvement is more stable, and the stable and healthy development of the capital market has strong fundamental support. Especially since the Central Political Bureau meeting issued a package of incremental policies on September 26, 2024, the capital market has shown positive and profound changes. As a long-term institutional investor, Central Huijin Company will continue to uphold the concept of long-term investment and value investment, and actively support the healthy development of the capital market.

Q: How does Central Huijin Company view the current value of A-share allocation?

Answer: Central Huijin Company fully recognizes the current A-share allocation value. With the deepening of the comprehensive reform of investment and financing in the capital market, the quality of A-share listed companies has steadily improved, the proportion of listed companies representing new quality productivity and technological innovation has continued to increase, the attractiveness of A-share core assets has continued to increase, and the overall valuation is at a relatively historical low. Central Huijin Company will increase its allocation efforts and give full play to the role of patient capital and long-term capital.

Q: What are the sources of funds for Central Huijin Company to participate in maintaining the stability of the capital market?

Answer: First, the assets are strong. As a trusted management institution for state-owned financial capital, Central Huijin Company has a stable operation and a healthy balance sheet.

The second is sufficient and stable cash flow. Central Huijin Company receives stable cash dividends every year, and the scale of available own funds is relatively large.

The third is that financing channels are smooth and efficient. After years of development, Central Huijin Company has established a mature and stable market financing channel covering short, medium and long term, and can also obtain liquidity support from the People's Bank of China.

Q: What are the plans of Central Huijin Company in maintaining the current stability of the capital market?

Answer: Central Huijin Company will continue to play the role of a "stabilizer" in the capital market, effectively curb abnormal market fluctuations, and will take decisive action when it is time to take action. In the next step, Central Huijin Company will firmly increase its holdings of various market-style ETFs, increase its holdings and balance the holding structure. Central Huijin Company has full confidence and sufficient ability to resolutely maintain the smooth operation of the capital market.