奇富科技2025年AIC：信用与监管风险可控

Global Research ab 29 May 2025 The sizable funding cost decline by 30bps in Q1 (to 3.2%) was driven by a record high quarterly ABS issuance of Rmb6.6bn. Looking ahead, further funding mix shift towards ABS could bring some upside, though management noted ABS issuance is usually seasonally stronger in 1H. The company targets a full-year ABS issuance size of Rmb18bn+, implying at least 20% growth from last year's Rmb15bn or 12% of 2024's capital heavy loan volume. Overall, management sees the company well on ...