FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01905 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 5,794,453,176 | RMB | | 1 RMB | | 5,794,453,176 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 5,794,453,176 | RMB | | 1 RMB | | 5,794,453,176 | | 2. 股份分類 | 普通股 | 股份類別 | 其他類別 (請註明) | | 於香港聯交所上市 (註1) | | 否 | | | --- ...

海通恒信(01905)发布海通恒信国际融资租赁股份有限公司2024年面向专业机构投资者公开发行可续期 公司债券(第一期)2026年本息兑付及摘牌的公告。债券简称:24恒信Y1，本期债券票面利率(计息年利率) 为3.50%，每手本期债券兑付本金为1,000元，派发利息为35.00，本息兑付日:2026年2月9日。 ...

智通财经APP讯，海通恒信(01905)发布海通恒信国际融资租赁股份有限公司2024年面向专业机构投资者 公开发行可续期公司债券(第一期)2026年本息兑付及摘牌的公告。债券简称:24恒信Y1，本期债券票面 利率(计息年利率)为3.50%，每手本期债券兑付本金为1,000元，派发利息为35.00，本息兑付日:2026年2 月9日。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任 何責任。 中國，上海 2026年2月2日 於本公告日期，本公司董事長兼執行董事為毛宇星先生；執行董事為周劍麗女士；非執行董事為張信軍先生、 鄭歡女士、呂彤先生、吳淑琨先生及張少華先生；職工董事為吳健女士；及獨立非執行董事為姚峰先生、 曾慶生先生、胡一威先生及嚴立新先生。 海通恆信國際融資租賃股份有限公司 Haitong Unitrust International Financial Leasing Co., Ltd. （於中華人民共和國註冊成立的股份有限公司） （股份代號：1905） 海外監管公告 本公告乃海通恆信國際融資租賃股份有限公司（「本公司」）根據香港聯合交易所有限公 司證券上市規則第13.10B條而作出。 茲載列本公司在上海證券交易所網站(http://www.sse.com.cn/)刊登的2024年面向專業機構 投資者公開發行可續期公司債券（第一期）2026年本息兌付及摘牌的公告，僅供參閱。 承董事 ...

2025年，面对宏观经济环境复杂多变、市场利率下行、行业竞争日益加剧、优质资产稀缺等多重挑战， 本集团坚持稳健经营，紧扣国家政策导向，立足租赁本源，聚焦金融"五篇大文章"、新质生产力、设备 更新等重点领域，深化产业化转型，强化集团内外部协同，提高客户层级，优化资产结构，让利实体经 济，持续提升服务实体经济质效，同时多元化拓展低成本融资渠道，强化全面风险管理体系，加强费用 管控，各项经营指标保持总体平稳。 智通财经APP讯，海通恒信(01905)发布截至2025年12月31日止年度业绩快报，该集团期内取得收入总额 68.2亿元人民币，同比减少4.5%;年度溢利14.25亿元，同比减少5.8%。 ...

2025年，面对宏观经济环境复杂多变、市场利率下行、行业竞争日益加剧、优质资产稀缺等多重挑战， 集团坚持稳健经营，紧扣国家政策导向，立足租赁本源，聚焦金融「五篇大文章」、新质生产力、设备 更新等重点领域，深化产业化转型，强化集团内外部协同，提高客户层级，优化资产结构，让利实体经 济，持续提升服务实体经济质效，同时多元化拓展低成本融资渠道，强化全面风险管理体系，加强费用 管控，各项经营指标保持总体平稳。 格隆汇1月27日丨海通恒信(01905.HK)公布截至2025年12月31日止年度业绩快报，截至2025年12月31日 止年度，集团实现收入总额人民币68.2亿元，实现年度溢利人民币14.25亿元。截至2025年12月31日，集 团资产总额为人民币107,756百万元，权益总额为人民币20,419百万元。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任 何責任。 海通恆信國際融資租賃股份有限公司 Haitong Unitrust International Financial Leasing Co., Ltd. 幣種：人民幣 單位：千元 | | 截至2025年 | 截至2024年 | | | --- | --- | --- | --- | | | 12月31日 | 12月31日 | 增減變動 | | 項目 | 止年度 | 止年度 | 幅度（%） | | 收入總額 | 6,819,815 | 7,139,242 | -4.5 | | 除所得稅前溢利 | 1,893,216 | 1,961,484 | -3.5 | | 年度溢利 | 1,424,769 | 1,512,897 | -5.8 | | | | | 下降 | | 加權平均淨資產回報率（%） | 7.54 | 8.10 | 0.56個百分點 | | | 截至2025年 | 截至2024年 | 增減變動 | ...

Group 1: Report Industry Investment Rating - No information provided in the given content. Group 2: Core Viewpoints of the Report - In 2026, focus on provinces with large maturity scales of industrial bonds, such as Inner Mongolia, Heilongjiang, and Jilin, and avoid entities with industry downturns, weakened profitability, and financing channels, or those with non - bond debt risks [2]. - The broad private real estate developers still face challenges, and other industries have a low probability of concentrated risks, but entities with weak competitiveness, significant profit decline, cash - flow pressure, and concentrated debt maturities should be focused on [2]. - For convertible bonds, weak - quality entities with low - priced underlying stocks and high conversion premiums may face difficulties in exiting through conversion, and potential losses should be watched out for [2]. Group 3: Summary by Relevant Catalogs 1. Overall Bond Market Situation - As of January 6, 2026, the national credit bond balance was 36.18 trillion yuan, with urban investment bonds at 17.73 trillion yuan (49.00%) and industrial bonds at 18.45 trillion yuan (51.00%, down from 54.57% last year) [5]. - Beijing has the largest bond balance, followed by Jiangsu, Guangdong, Zhejiang, and Shandong. Inner Mongolia has the highest short - term bond maturity ratio at 81.09%, followed by Heilongjiang at 40.39% [5]. 2. Urban Investment Bonds - Since 2023, with a series of policies and measures, the debt pressure of urban investment platforms has been relieved, the issuance cost and credit spread of urban investment bonds have decreased, the financing cost is generally below 3%, and the debt term has been significantly extended [10]. 3. Industrial Bonds Provincial - level Analysis - Excluding urban investment bonds, Beijing has the largest industrial bond scale at over 7 trillion yuan, mainly central - enterprise bonds. Inner Mongolia has the highest short - term industrial bond maturity ratio at 82.64%, followed by Tibet, Heilongjiang, Tianjin, and Jilin [11]. - Inner Mongolia, Heilongjiang, and Jilin have a bond issuance coverage ratio of less than 1 for the next - year's maturity scale, indicating weak refinancing ability [14]. Industry - level Analysis - In 2025, default industries included 12 sectors such as automobile services and real estate development. The industrial holding and power industries have the largest bond balances, over 2 trillion yuan each [15]. - The paper - making, automobile services, medical devices, medical services, and publishing media industries have a short - term debt ratio of over 50%, with poor debt term structures [15]. - Industries with large short - term debt repayment pressures include rail transit, packaging, heating, furniture and home appliances, textiles, automobile services, and information technology [15]. 4. Real Estate Industry - In 2025, the default rate of real estate development entities remained high, with Vanke and Zhengxinglong defaulting. As of January 6, 2026, the real estate development enterprise bond balance was 11,528.76 billion yuan, mainly held by local and central state - owned enterprises [18]. - The short - term bond maturity pressure of public, Sino - foreign joint - venture, and private enterprises is over 40%. The broad private enterprises still face pressure, with an issuance amount of only 234.38 billion yuan in the past year, 76.93% of the next - year's maturity amount [20]. - In 2026, private real estate enterprises to focus on are Longfor and Yida Development [23]. 5. Loss - making Industrial Entities - Large - loss entities (losses over 10 billion yuan in 2024 and still in losses in the first three quarters of 2025) are mainly in the real estate development industry, including state - owned enterprises such as Overseas Chinese Town Group and financial street - related companies, as well as steel giant Ansteel Group [24]. - Entities with losses between 5 and 10 billion yuan involve industries such as electrical equipment, chemical, steel, and airport [26]. 6. ABS Market - From 2023 - 2025, the default rate of CSRC - regulated ABS was 1.10%, 0.77%, and 0.88% respectively. As of January 6, 2026, the ABS balance was 25,021.96 billion yuan, with a one - year maturity amount of 3,541.59 billion yuan (14.15%). The 2025 issuance amount covered the next - year's maturity amount 3.97 times, with good continuation [32]. 7. Convertible Bond Market - Since 2024, the convertible bond repayment risk has increased. As of January 6, 2026, the convertible bond balance was 5553.51 billion yuan, a 22.89% year - on - year decrease. The broad private enterprises accounted for 64.73%, with a relatively large proportion [33]. - Entities such as Anhui Honglu Steel Structure, Shenzhen Huayang International Engineering Design, and Shanghai Kehua Bio - Engineering face large convertible bond repayment pressures, but the conversion mechanism can reduce credit risks to some extent [35]. - Entities such as Dongfang Fashion Driving School, Hainan Pulili Pharmaceutical, and Jiangsu Fumiao Technology, although not facing immediate repayment pressures, have negative information such as business fluctuations, financial fraud, and equity freezes, and their dynamic changes should be continuously monitored [36].

Group 1 - The top short-selling ratios are led by China Resources Beer (100.00%), Lenovo Group (95.24%), and JD Health (94.15%) [1] - The highest short-selling amounts are recorded for Alibaba (3.923 billion), Tencent Holdings (2.552 billion), and Trip.com Group (1.172 billion) [1][2] - Meituan, Kanglong Chemical, and Haitong Securities have the highest deviation values at 55.33%, 50.16%, and 48.65% respectively [1] Group 2 - The top ten short-selling ratios include China Resources Beer (100.00%), Lenovo Group (95.24%), and JD Health (94.15%) with respective amounts of 11,700, 7,019,200, and 150,000 [2] - The top ten short-selling amounts show Alibaba at 39.23 billion, Tencent at 25.52 billion, and Trip.com at 11.72 billion with respective short-selling ratios of 17.78%, 15.59%, and 7.41% [2] - The top ten deviation values highlight Meituan (55.33%), Kanglong Chemical (50.16%), and Haitong Securities (48.65%) with their respective short-selling amounts [2]

Core Viewpoint - Haitong Hengtong (01905) plans to issue bonds worth up to 1 billion yuan to professional institutional investors from January 14 to January 15, 2026, aimed at refinancing existing company debt [1] Group 1 - The bond issuance is scheduled for January 14-15, 2026 [1] - The total amount of the bond issuance will not exceed 1 billion yuan, including 1 billion yuan [1] - The bonds will be issued at par value of 100 yuan each [1] Group 2 - The raised funds are intended to replace the principal of company bonds repaid using internal funds [1]