本期债券发行时间自 2025 年 11 月 17 日至 2025 年 11 月 18 日，本期债券的 发行工作已于 2025 年 11 月 18 日结束，具体发行情况如下： 最终"25 越资 07"发行规模为 9 亿元，票面利率为 1.80%，全场认购倍数 为 4.88 倍；"25 越资 08"发行规模为 5 亿元，票面利率为 1.98%，全场认购倍 数为 3.36 倍。 本期债券发行过程中，承销机构及其关联方合计认购 2.8 亿元，其中发行人 关联方暨承销机构中信证券股份有限公司认购 0.6 亿元，报价及程序符合相关法 律法规的规定。除此以外，发行人的董事、高级管理人员、持股比例超过 5%的 股东以及其他关联方未参与本次认购，本期债券承销机构及其关联方不存在其他 获配情况。认购本期债券的投资者均符合《公司债券发行与交易管理办法》《深 圳证券交易所公司债券上市规则（2023 年修订）》《深圳证券交易所债券市场 投资者适当性管理办法（2023 年修订）》及《关于进一步规范债券发行业务有 关事项的通知》等各项有关要求。 特此公告。（本页以下无正文） 证券代码：524533 证券简称：25 越资 07 证券代码：5 ...

近期，陆续有地方国资平台挂牌出售房产，这一资产处置行为本身并不算新鲜，却在业内引发了广泛关 注。 11月14日，贵州大诚建筑发展有限责任公司挂牌转让位于重庆、江门、安顺等11处房产。11月6日，四 川西昌市委托拍卖公司一次性挂出144套国有产权住房；11月5日，福州市公共资源交易网发布公告，定 于11月21日公开拍卖福州长乐区51套市场化商品房。更早之前，北京、山东烟台、淄博等地均出现过地 方国企挂牌出售房产的情况。 多地国资密集挂牌出售房产 国资挂牌的房产是否有捡漏机会？央国企集中挂牌房产对市场又有何影响？ 11月17日晚间，广东省城乡规划院住房政策研究中心首席研究员李宇嘉向《每日经济新闻》记者指出， 国企挂牌出售房产虽会增加市场供给，但对整体楼市格局影响有限，且不存在"一上平台就打折出售"的 情况。 "国资企业，不管是城投平台等功能性国企，还是国有竞争性企业，都有业绩的考虑，一是资产保值增 值的压力，二是利润税费上缴的压力。对于上市类国企，更是要对股东负责，对估值负责。此外，过 去，不动产价值持续上涨，靠抵押就能获得现金流，但现在各地对国企利税上缴考核更严了，资源支持 减少了，同时要求国企要承担一些稳增长 ...

Core Viewpoint - Guangzhou Yuexiu Capital Holdings Group Co., Ltd. is extending the book-building period for its 2025 fourth phase corporate bond issuance to accommodate investor procedures, with a total issuance scale not exceeding 1.4 billion yuan [2][4]. Group 1: Trading Information - As of November 14, 2025, Yuexiu Capital's stock closed at 7.67 yuan, down 1.03%, with a turnover rate of 0.51%, trading volume of 254,700 shares, and a transaction amount of 197 million yuan [1]. - On November 14, 2025, the net outflow of main funds was 10.33 million yuan, indicating a cautious short-term attitude from major investors [2][4]. - Retail investors saw a net inflow of 4.88 million yuan, while speculative funds had a net inflow of 5.45 million yuan [2]. Group 2: Company Announcements - The book-building end time for the fourth phase corporate bond issuance has been extended to November 14, 2025, at 19:00 [2][4]. - The fourth phase corporate bond issuance has been approved by the China Securities Regulatory Commission, with a total issuance scale not exceeding 1.4 billion yuan [2][4]. - Two varieties of bonds have been established: a 2-year bond with a coupon rate of 1.80% and a 5-year bond with a coupon rate of 1.98% [2][4].

Core Insights - The integration of private venture capital, state-owned capital, and Hong Kong-Macau resources is creating a comprehensive capital network that supports the entire lifecycle of enterprises in the Guangdong-Hong Kong-Macau Greater Bay Area [1] - The Greater Bay Area is rapidly becoming a global hub for technological innovation and venture capital, driven by the collaboration of various capital sources [1] Group 1: Private Venture Capital - Private venture capital is a significant highlight in the Greater Bay Area, with firms like Dongfang Fuhai, Dacheng Caizhi, and others deeply engaged in the market [3] - The professional specialization among private venture capital firms is deepening, with specific focuses such as consumer sectors, hard technology, and precision medicine, enhancing investment accuracy and creating a collaborative ecosystem [3] - The success story of Ying Shi Innovation, which saw a 164% increase in R&D investment and a 90% rise in revenue, exemplifies the effective partnership between capital and technological innovation [2][3] Group 2: State-Owned Capital - State-owned venture capital plays a crucial role in the investment landscape, acting as a key funding source and shaping the investment framework in the Greater Bay Area [4] - The establishment of various funds, including a 150 billion yuan angel fund and a 500 billion yuan venture capital fund, demonstrates the commitment to fostering innovation and supporting emerging industries [4][5] - Shenzhen's state-owned capital has built a comprehensive innovation ecosystem, facilitating significant projects in the semiconductor industry and supporting early-stage investments through a network of seed funds [5][6] Group 3: Cross-Border Collaboration - Cross-border collaboration is being enhanced through institutional innovations, with many investment firms establishing connections between mainland China and Hong Kong to explore diverse investment opportunities [7][8] - The establishment of funds like the Qianhai Shenzhen-Hong Kong Youth Dream Factory Fund illustrates the growing trend of integrating resources and capital across borders to support early-stage projects in various sectors [7][8] - The unique conditions of the Greater Bay Area, characterized by "one country, two systems," present both challenges and opportunities for regional integration and development [8]

Core Insights - The article emphasizes the collaborative synergy between private venture capital, state-owned capital, and Hong Kong-Macau resources in creating a comprehensive capital network that supports the entire lifecycle of enterprises in the Guangdong-Hong Kong-Macau Greater Bay Area [2][4]. Group 1: Private Venture Capital - Private venture capital is a significant highlight in the Greater Bay Area, with active participation from firms like Dongfang Fuhai, Dacheng Caizhi, and Jichuang Weiye, which are deepening their specialization in various sectors [5]. - The success story of Ying Shi Innovation, which saw a 164% increase in R&D investment and a 90% revenue growth year-on-year, illustrates the effective partnership between capital and technological innovation [4]. - By November 2025, there are 3,831 registered investment institutions in the Greater Bay Area, managing over 84,400 million RMB in funds [4]. Group 2: State-Owned Capital - State-owned venture capital plays a crucial role in shaping the investment landscape, providing essential funding and establishing a comprehensive innovation capital service system [6][7]. - Guangzhou's investment platforms have set up substantial funds, including a 1,500 million RMB industrial investment mother fund and a 500 million RMB venture capital mother fund, to support local enterprises [7]. - Shenzhen's state-owned capital has created a robust innovation ecosystem, facilitating the establishment of 27 seed funds with a total scale of 4,136 million RMB [8]. Group 3: Cross-Border Collaboration - Increasing collaboration between mainland and Hong Kong investment institutions is evident, with strategic funds being established to link overseas resources and diversify investment opportunities [9][10]. - The unique conditions of the Greater Bay Area, characterized by "one country, two systems," present both challenges and opportunities for regional integration and innovation [9]. - The establishment of the Qianhai Shenzhen-Hong Kong Youth Dream Factory Fund aims to incubate early-stage projects in various high-tech fields, showcasing the cross-border investment strategy [9]. Group 4: Upcoming Events - The 20th China Economic Forum will take place on November 18, focusing on technology innovation policies and financial empowerment for the Greater Bay Area [12][13]. - The forum aims to foster a positive ecosystem for the integration of technology, industry, and finance, contributing to the construction of an international technology innovation center in the Greater Bay Area [13].

Core Viewpoint - Yuexiu Capital (000987) reported strong business performance and record-high operating results for the first three quarters of 2025, driven by opportunities in the capital market and growth in its renewable energy sector [1] Group 1: Business Performance - The company has achieved a year-on-year increase in investment business revenue, capitalizing on stable market development opportunities [1] - The renewable energy business has seen continuous growth in power generation alongside an increase in installed capacity, leading to improved operational efficiency [1] Group 2: Strategic Initiatives - The company has established a performance evaluation mechanism that is strategic-oriented, focusing on performance and capability, and based on marketization and professionalism [1] - A balanced scorecard is utilized as a performance management tool, with annual performance assessment goals set for executives [1]

广州越秀资本控股集团股份有限公司 2025 年面向专业投资者公开发行 公司债券（第四期） 信用评级报告 中诚信国际信用评级有限责任公司 | 编号:CCXI-20254248D-02 广州越秀资本控股集团股份有限公司 2025 年面向专业投资者公开发行公司债券（第四期）信用评级报告 声 明 跟踪评级安排 中诚信国际信用评级有限责任公司 电话：(010)66428877 传真：(010)66426100 3 2025 年 11 月 6 日 2 ⚫ 本次评级为委托评级，中诚信国际及其评估人员与评级委托方、评级对象不存在任何其他影响本次评级行为独立、 客观、公正的关联关系。 ⚫ 本次评级依据评级对象提供或已经正式对外公布的信息，以及其他根据监管规定收集的信息，中诚信国际按照相关 性、及时性、可靠性的原则对评级信息进行审慎分析，但中诚信国际对于相关信息的合法性、真实性、完整性、准 确性不作任何保证。 ⚫ 中诚信国际及项目人员履行了尽职调查和诚信义务，有充分理由保证本次评级遵循了真实、客观、公正的原则。 ⚫ 评级报告的评级结论是中诚信国际依据合理的内部信用评级标准和方法、评级程序做出的独立判断，未受评级委托 方、评级对象 ...

广州越秀资本控股集团股份有限公司 （住所：广州市天河区珠江西路 5 号 6301 房自编 B 单元） 2025 年面向专业投资者公开发行公司债券 （第四期）发行公告 牵头主承销商、簿记管理人 联席主承销商、受托管理人 联席主承销商 本期债券引入双向回拨选择权，回拨比例不受限制。发行人和簿记管理人将 根据本期债券的发行申购情况，在总发行规模内，由发行人和簿记管理人协商一 致，决定是否行使品种间回拨选择权，即减少其中一个品种的发行规模，同时对 另一品种的发行规模增加相同金额,单一品种最大拨出规模不超过其最大可发行 规模的 100%。 3、本期债券品种一简称为"25 越资 07"，债券代码为 524533；品种二简称 为"25 越资 08"，债券代码为 524534。本期债券发行规模为不超过人民币 14 亿 元（含 14 亿元），每张面值为 100 元，发行数量为不超过 1,400 万张，发行价 格为人民币 100 元/张。 签署日：2025 年 11 月 6 日 广州越秀资本控股集团股份有限公司 2025 年面向专业投资者公开发行公司债券（第四期）发行公告 本公司及其全体董事、高级管理人员或履行同等职责的人员保证 ...

2025 年度 广州越秀资本控股集团股份有限公司 信用评级报告 编号：CCXI-20252369M-02 2025 年度广州越秀资本控股集团股份有限公司信用评级报告 声 明 跟踪评级安排 中诚信国际信用评级有限责任公司 2025 年 7 月 10 日 2 本次评级为委托评级，中诚信国际及其评估人员与评级委托方、评级对象不存在任何其他影响本次评级行为独立、 客观、公正的关联关系。 本次评级依据评级对象提供或已经正式对外公布的信息，以及其他根据监管规定收集的信息，中诚信国际按照相关 性、及时性、可靠性的原则对评级信息进行审慎分析，但中诚信国际对于相关信息的合法性、真实性、完整性、准 确性不作任何保证。 中诚信国际及项目人员履行了尽职调查和诚信义务，有充分理由保证本次评级遵循了真实、客观、公正的原则。 评级报告的评级结论是中诚信国际依据合理的内部信用评级标准和方法、评级程序做出的独立判断，未受评级委托 方、评级对象和其他第三方的干预和影响。 本评级报告对评级对象信用状况的任何表述和判断仅作为相关决策参考之用，并不意味着中诚信国际实质性建议任 何使用人据此报告采取投资、借贷等交易行为，也不能作为任何人购买、出售或持有 ...

广州越秀资本控股集团股份有限公司 2023 年面向专业投资者公开发行公司债券更名公告 兴业证券股份有限公司 年 月 日 2025 11 6 广州越秀资本控股集团股份有限公司（以下简称"发行人"）发行不超过人 民币 70 亿元公司债券已获得中国证券监督管理委员会证监许可〔2024〕1007 号 文注册通过。广州越秀资本控股集团股份有限公司 2025 年面向专业投资者公开 发行公司债券（第四期）（以下简称"本期债券"）发行规模为不超过 14 亿元 （含 14 亿元）。 按照公司债券命名惯例，本期债券名称由原申请的"广州越秀资本控股集团 股份有限公司 2023 年面向专业投资者公开发行公司债券"变更为"广州越秀资 本控股集团股份有限公司 2025 年面向专业投资者公开发行公司债券（第四期）"。 本期债券名称变更不改变原签订的与本期公司债券发行相关的法律文件效力，原 签署的相关法律文件对更名后的公司债券继续具有法律效力。前述法律文件包括 但不限于《广州越秀资本控股集团股份有限公司与兴业证券股份有限公司关于 2023 年面向专业投资者公开发行公司债券之债券受托管理协议》等文件。 特此公告。 者公开发行公司债券更名公告》 ...