M.R.Tech(SZ:300766) Zhong Guo Jing Ying Bao·2025-09-26 18:54Core Insights - The first approved data asset-backed securities (ABS) product in China has been successfully issued, marking a significant step in the marketization and value transformation of data assets [1][5] - The project demonstrates the potential of data as a new type of asset, transitioning from "resource" to "asset" and then to "capital," which can enhance the added value across various industries [1][6] Group 1: Project Overview - The first phase of the data asset ABS, named "Huaxin-Xinxin-Data Asset 1-5 Phase Asset Support Special Plan," was issued with a scale of 133.7 million yuan and a priority ticket interest rate of 2.0% [1][2] - The cash flow for 89% of the project comes from data asset pledge loans, indicating a strong reliance on data-backed financing [1][2] Group 2: Participating Companies - Nine companies from different regions and sectors participated in the project, including data intelligence service providers and industry digitalization service providers [2][3] - The data assets included in the pool are categorized into three types: anonymized user behavior data, industry insight data, and technical interaction data [2][3] Group 3: Compliance and Risk Management - Huaxin Securities implemented a comprehensive compliance mechanism and introduced third-party evaluation systems to address legal and compliance challenges in the securitization process [3][4] - The company emphasized the importance of verifying data ownership, legality, and compliance to mitigate legal risks associated with data assets [4][5] Group 4: Market Potential and Future Outlook - The market for data asset securitization is expected to grow significantly, with projections indicating a potential market size in the hundreds of billions [6][7] - The company plans to expand the application scenarios for data asset securitization, focusing on public and industrial data sectors over the next three years [6][7]