规模增长显著 市场信心回升

Group 1 - The demand for service consumption scenarios such as tourism, dining, and home decoration is continuously rising, driving consumption finance companies to enhance their capabilities and optimize consumer credit services to match market needs [1] - The financing situation of consumption finance companies has shown significant growth in scale and a rebound in market confidence, particularly with the active issuance of asset-backed securities (ABS) and steady progress in financial bond issuance [1][2] - As of May 23, the total issuance of bank and internet consumer loan ABS has exceeded 100 billion yuan, reaching 113.847 billion yuan [2] Group 2 - The issuance of asset-backed notes (ABN) in personal consumer finance has seen a substantial year-on-year increase, with 117 issuances totaling 97.31 billion yuan in the first quarter, representing a growth of 53.3% compared to the previous year [3] - Personal consumer finance ABN issuance accounted for 35 deals and 31.64 billion yuan, with respective increases of 169.2% and 213.2% year-on-year, making it the main issuance type [3] - Traditional consumption finance companies are actively participating in ABS issuance, with notable issuances from companies like Nanyin Fubao, Zhongyuan, and Haier, totaling 7.458 billion yuan across 5 ABS [3] Group 3 - Since the beginning of 2025, consumption finance companies have been diversifying their financing channels, with financial bond issuance becoming a significant means of funding, totaling 6.1 billion yuan from five companies as of May 24 [4] - Specific issuances include Hangyin Consumer Finance with 2 financial bond issuances totaling 2.5 billion yuan, and other companies like Mashang Consumer Finance and Ningyin Consumer Finance with respective issuances of 1.5 billion yuan and 1 billion yuan [4] - The coupon rates for some bonds have been disclosed, with rates around 2%, the lowest being 1.69% for Hangyin's first financial bond and the highest at 2.05% for Mashang's first financial bond [4]