股票简称：越秀资本 股票代码：000987. SZ 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（第二期） 募集说明书 牵头主承销商、簿记管理人： 中信证券股份有限公司 联席主承销商、受托管理人： 兴业证券股份有限公司 担保或其他增信情况： 无担保或其他增信 信用评级结果： 主体 AAA/债项 AAA 信用评级机构： 中诚信国际信用评级有限责任公司 发行人： 广州越秀资本控股集团股份有限公司 国泰海通证券股份有限公司、中国国际金 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 联席主承销商： 融股份有限公司、中信建投证券股份有限 公司、华泰联合证券有限责任公司、广发 证券股份有限公司 本期债券发行金额： 不超过人民币 10 亿元 签署日期： 年 月 日 2025 6 5 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（第二期）募集说明书 声 明 发行人将及时、公平地履行信息披露义务。 发行人及其全体董事、监事、高级管理人员或履行同等职责的人员保证募集 说明书信息披 ...

2024 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 2024 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-20242206M-01 * [14] M. C. 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、出售或持有相关金融产品的依据。 中诚信国际不对任何投资者使用本报 ...

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（第二期）信用评级报告 编号：CCXI-20251437D-01 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（第二期）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 2025 年 5 月 26 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 ...

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 （第二期）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 签署日：2025 年 6 月 5 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（第二期）发行公告 本公司及其全体董事、监事、高级管理人员或履行同等职责的人员保证公 告内容真实、准确和完整。 重要事项提示 1、广州越秀资本控股集团股份有限公司（以下简称"发行人"或"公司"） 于 2024 年 6 月 28 日获得中国证券监督管理委员会证监许可〔2024〕1007 号文 同意向专业投资者发行面值不超过人民币 70 亿元公司债券。 发行人本次债券采取分期发行的方式，本期债券为本次债券批文项下第四期 发行，本期债券发行面值不超过 10 亿元（含 10 亿元）。 2、本期债券分为两个品种，其中品种一期限为 3 年期，品种二期限为 10 年期，品种一和品种二的发行规模可互拨，且回拨比例不受限。 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 ...

（本页无正文，为《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》之盖章页） 广州越秀资本控股集团股份有限公司 2025 年 6 月 5 日 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 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（第二期）（以下简称"本期债券"）发行规模为不超过 10 亿元 （含 10 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（第二期）"。 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 ...

Core Viewpoint - The company, Guangzhou Yuexiu Capital Holdings Group Co., Ltd., is focusing on enhancing its operational efficiency and financial stability through business transformation and diversification of its financial services [3]. Group 1: Financial Performance - As of May 30, 2025, the company's stock price closed at 6.43 yuan, down 0.16%, with a trading volume of 130,400 shares and a transaction amount of 83.68 million yuan [1]. - The company reported a total revenue of 13.236 billion yuan and a net profit of 2.734 billion yuan for 2024, with an average asset return rate of 1.34% [3]. - The total assets of the company reached 219.812 billion yuan, with shareholders' equity amounting to 45.909 billion yuan and a debt-to-asset ratio of 79.11% [3]. Group 2: Business Operations - The company's futures business has historically contributed to half of its total revenue but has had a negligible profit contribution, prompting discussions about potential divestment strategies [2]. - The company’s subsidiary, Guangzhou Futures, is undergoing a transformation to enhance its operational effectiveness and is a key part of the company's diversified financial service system [2]. - The company has established a "3+1" core industry structure, focusing on financing leasing, non-performing asset management, investment management, and strategic investment in CITIC Securities [3]. Group 3: Credit Rating - The company’s credit rating remains at AAA with a stable outlook, supported by strong shareholder strength, competitive core business, and diversified income sources [3]. - The rating report highlighted challenges such as slow macroeconomic recovery, pressure on non-performing asset management, and increased risk management requirements in the futures business [3]. Group 4: Market Activity - On May 30, 2025, the net outflow of funds from major and speculative investors was 3.2062 million yuan and 3.5299 million yuan, respectively, while retail investors showed a net inflow of 6.7361 million yuan [5].

广州越秀资本控股集团股份有限公司 2025 年度公开发行公司债券 跟踪评级报告 编号：信评委函字[2025]跟踪 0326 号 广州越秀资本控股集团股份有限公司 2025 年度公开发行公司债券跟踪评级报告 声 明 中诚信国际信用评级有限责任公司 2025 年 5 月 30 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 ...

Core Viewpoint - Green finance is essential for financial institutions to align with national strategies, seize policy opportunities, and promote sustainable economic development [1] Group 1: Green Finance and Insurance Industry - The insurance industry serves as an economic "shock absorber" and social "stabilizer," holding significant social responsibility in supporting economic development and safeguarding livelihoods [1] - Insurance capital, as a representative of long-term funds, aligns well with the long-term development needs of green low-carbon industries, seeking a win-win situation for both its own growth and societal development [1] Group 2: Investment in Household Photovoltaics - The company has identified household photovoltaics as a key investment area after extensive research and discussions with farmers and industry stakeholders [2] - Household photovoltaics, involving the installation of solar panels on rooftops, are supported by national policies and contribute to reducing carbon emissions, improving the ecological environment, and enhancing energy security [2] - The establishment of the Yuexiu Guanghui Fund, with over 900 million yuan invested, marks a significant step in the company's investment in green clean energy [2] Group 3: Impact and Benefits of Household Photovoltaics - The fund has secured nearly 2.5 GW of household photovoltaic power stations across 14 provinces, expected to generate 2.8 billion kWh annually and reduce CO2 emissions by 2.2 million tons [3] - The initiative benefits nearly 100,000 rural households, providing them with stable annual income [3] - Household photovoltaics enhance renewable energy utilization, reduce reliance on fossil fuels, and support energy structure transformation [3] Group 4: Financial and Social Implications - The cooperative development model allows farmers to earn initial installation fees and ongoing revenue shares, providing reliable income sources for low-income rural families [3] - The construction and operation of photovoltaic stations create new job opportunities for local labor, addressing rural employment challenges [3] - For elderly rural residents, the stable income from photovoltaic stations contributes to their retirement funding, expanding the sources of pension funds [3] Group 5: Technological and Digital Advancements - Household photovoltaics utilize big data for online management, improving project risk assessment and financial service efficiency [4] - The rapid development of household photovoltaics drives technological upgrades in upstream component manufacturers and enhances operational efficiency through AI and automation [4] - The company aims to optimize investment strategies and expand project coverage, focusing on national strategies and key sectors to support high-quality economic development [4]

Group 1 - The core viewpoint of the articles highlights the performance and valuation of Yuexiu Capital, which has a current stock price of 6.51 yuan and a rolling PE ratio of 13.15 times, significantly lower than the industry average of 70.57 times [1][2] - Yuexiu Capital's total market capitalization stands at 32.662 billion yuan, ranking 7th in the diversified financial industry based on PE ratio [1][2] - As of the first quarter of 2025, 10 institutions hold shares in Yuexiu Capital, with a total holding of 397,502.52 thousand shares valued at 25.321 billion yuan [1] Group 2 - The main business of Yuexiu Capital includes non-performing asset management, financing leasing, private equity fund management, and capital investment services, with key products in non-performing asset management and new energy [1] - The latest financial results for the first quarter of 2025 show that the company achieved an operating income of 2.742 billion yuan, a year-on-year decrease of 9.42%, while net profit reached 657 million yuan, reflecting a year-on-year increase of 40.52% with a gross profit margin of 22.24% [1]

Core Viewpoint - The report discusses the retirement of Yang Xiaomin, the Vice Chairman and General Manager of Guangzhou Yuexiu Capital Holdings Group Co., Ltd., and the appointment of Wu Yonggao, the Deputy General Manager, to act in the role of General Manager temporarily [3][5]. Group 1 - Yang Xiaomin submitted a written resignation due to reaching retirement age, resigning from his positions as Vice Chairman, Director, and General Manager, as well as related roles in the company's committees and subsidiaries [4][5]. - The company's board of directors convened on April 29, 2025, to approve Yang Xiaomin's resignation and appointed Wu Yonggao to act as General Manager until a new General Manager is appointed [5][6]. - Yang Xiaomin held 654,212 shares in the company at the time of his resignation and will continue to comply with regulations regarding departing directors and senior management [5][6]. Group 2 - The company confirmed that there were no disagreements between Yang Xiaomin and the board, and no matters needed to be communicated to shareholders [6]. - The company will expedite the legal procedures to complete the election of a new Director and General Manager [6].