规模10亿元，票面利率创同主体评级最低

Core Insights - The national asset securitization market has experienced rapid development this year, with Yangzi Guotou successfully issuing the first data asset-enabled water ABS in China, amounting to 1 billion yuan and achieving a record low interest rate of 2% for the same entity rating in the water ABS sector [1] - The transformation of enterprise data from "resource" to "product" and then to "asset" is a key focus, enabling companies to activate dormant data resources and convert them into tradable capital [2] Group 1 - Yangzi Guotou has positioned itself as a pioneer in the water sector by becoming the first company to list data assets, specifically analyzing water usage behavior data from enterprises in Nanjing, which has been traded on the Nanjing data trading platform [2] - The cash flow security for the ABS is supported by transitioning from traditional experience-driven revenue to data-driven insights, utilizing water usage data as a critical asset [2] - The underlying assets for the ABS are based on water supply revenue rights, with technical support from the Nanjing Digital Financial Industry Research Institute, marking a significant innovation in public utility financing [2] Group 2 - Future plans for Yangzi Guotou include focusing on three main business sectors: financial investment, new city development, and business travel operations, leveraging green low-carbon projects and innovative financial practices [3] - The company aims to deepen the exploration and application of data assets, creating a virtuous cycle of "assets - activation - capital - investment - assets" to contribute to the development of a science and technology innovation financial demonstration zone in Jiangbei New District [3]