华能贵诚信托公司 曹彦雁 第一章 长安初探 11月的西安笼罩在灰蒙蒙的雾霭中，行道树褪尽最后几片黄叶。我穿过西安热工研究院的老院区，1965 年落成的办公楼外墙爬满藤蔓枯枝，门厅里"华能煤业陕西矿业分公司"的铜牌在泛着微光。贵诚项目组 此行的目的明确——求证柳巷煤矿的资产成色。 项目线索始于两周前的一次偶然。当地银行提及，西安某民营企业家正在为其持有的公司股权寻求流动 性支持。这位从餐饮业白手起家的创业者，从三张桌子起步，创立了自己的火锅品牌。其后，这位企业 家的版图拓展到食品加工、酒店服务、文旅产业发展等，除此之外，她还持有柳巷煤矿的部分股份。 在初步梳理了项目信息后，集团业务部与河南业务部决定合作推进，第一时间就与风控人员碰头商 议。"民营股东跨界经营，风险如何把控?又如何核实煤矿资质的真实性?"风控部同事直接发问。我把早 已准备好的股权结构图递了过去:"柳巷煤矿的大股东正好是华能铜川照金煤电有限公司，占股43%。我 们是华能的金融企业，拥有的能源电力产业背景是我们的独特优势，如果能从产业兄弟单位入手，就可 以验证这个资产信息的真实性。"用红笔圈出柳巷煤矿的股权比例后，我继续补充道:"这也是我们一定 要做 ...

作为中交集团旗下核心金融平台，中交租赁广州公司紧紧围绕"五全四大五型"战略方向，聚焦绿色能源、数字经济、城市服务、先进制造四大核心领 域，持续深化金融"五篇大文章"，并积极落实《广州南沙深化面向世界的粤港澳全面合作总体方案》，以产融协同助力国家战略落地。 2025年盛夏，中交融资租赁（广州）有限公司（以下简称"中交租赁广州公司"）迎来重要里程碑——累计投放金额突破1000亿元。这一成绩背后，是 27%的年复合增长率、覆盖全国21个省份的金融服务网络，更是对"金融活水赋能实体经济"战略的生动实践。 城市服务：筑基民生，绘就幸福画卷 在西安，中交租赁广州公司通过设备回租模式，为当地热电企业提供专项资金，保障冬季供暖系统稳定运行，惠及115万居民。在云南弥勒，公司投资 2.36亿元建设"一水两污"项目，日处理污水能力达5500万吨，覆盖12个乡镇。 中交租赁广州公司落地的弥勒碧水源"一水两污"项目。受访者供图 绿色能源：践行双碳，书写能源革命新篇 在云南临沧，公司以售后回租模式为水电站注入5000万元资金，开辟了"存量资产盘活+新增产能支持"的融资新路径。在商用车领域，公司与狮桥租赁 合作，推动130辆新能源重卡投 ...

壁仞科技向港交所递交上市申请的动作，不仅是这家国产GPU龙头的资本进阶，更被视作中国自主算力突破的重要信号。作为第五大股东的上海临港， 其"基金+基地"的深度绑定模式，也让市场看到了国产硬科技成长背后产融协同的力量。 商业化落地的加速推进，让技术价值逐步转化为市场竞争力。在政策与市场的双重驱动下，壁仞科技已实现三大运营商的全面覆盖，其壁砺系列产品在中 国电信千卡集群落地应用，并参与浙江乌镇智算中心等重大项目建设。针对不同场景需求，壁仞形成了清晰的产品矩阵：BR100主攻AI训练与科学计算， 壁砺110E推理卡则以1.3倍于主流方案的算力密度和70%的能耗节省，在文生图、语音识别等推理场景快速渗透。渠道布局上，通过超讯通信担任行业总 代，2025年已设定2万颗芯片的进货目标，同时与科华数据联合开发大模型一体机，拓宽政企市场触达路径。不过营收规模仍显稚嫩，2025年营收约2.8亿 元，与摩尔线程18亿元的营收相比存在差距，如何将技术优势转化为盈利能力，将是上市后亟待解决的课题。 从技术突破到生态成型，再到商业落地，壁仞科技的成长轨迹勾勒出国产GPU的突围路径。港股上市带来的资本注入，或将加速其在封装国产化、生态扩 ...

孙永才表示，中国中车和中国东方有着很好的合作基础，希望双方围绕清洁能源装备深化产融协同，围 绕前瞻、共性的科技创新、资产盘活、企业金融业务等开展合作。 梁强表示，双方有很好的资源互补性，中国东方作为中央金融企业，将坚定地支持、更好地服务中车高 质量发展。 转自：证券时报 人民财讯9月27日电，9月26日，中国中车集团党委书记、董事长孙永才在中车总部会见了中国东方资产 管理股份有限公司党委书记、董事长梁强，双方就进一步加强产融合作进行了座谈交流。 ...

为响应国务院国资委对央企控股上市公司市值管理的要求，系统落实中国电科推动产业与金融协同发展的战略部署，9月18日，中国电科在京举办产融大会 暨控股上市公司投资者交流活动。大会以"共鉴科技未来、共绘产融新程、共铸电科价值"为主题。 中国上市公司协会会长宋志平，中国电科党组副书记、总经理朱鹏，党组成员、副总经理俞承志等领导出席会议并发言。国务院国资委、工信部、证监会等 部委代表，上交所、深交所、北交所代表，130余家投资及产业合作伙伴和中国电科19家控股上市公司高管团队，共500余人参会。 . . HO HO HO BO BO HO HO HO CETC 中国电科 夹炎科技未来 头绘产融新程 2025年中国电科产融大会暨控股上市公司投资 2025年9月 * 发科技术来 - 失绘产融新程 会场外的展示区域集中呈现了系列核心科技成果，从可穿戴式智能设备到工业级物联网传感器，从网络安全防护系统到卫星通信终端，每一处展台都生动诠 释了"科技赋能实体"的发展理念，积极推动科技、产业与资本深度融合，构建军民技术共生、互哺共融的新发展模式。 大会首次提出上市公司需坚持的"三线"发展理念，即："追高线"——追求高质量发展目标；" ...

转自：新华信用 大商所产融基地通过培训、调研等活动，搭建银期合作平台，通过产融基地示范带动作用，推动产业链相关企业认识 和加强期现结合提升风险管理能力，服务实体经济助力产业生态优化。 活动期间，国家粮油信息中心齐驰名提出，当前国际玉米供需格局复杂，企业需强化数据研判能力；大连商品交易所 张鹏远推介期转现业务功能，为期货市场引入新的协商交易机制，便利交割、降低成本、提升市场效率；吉林省农发 粮食集团米清介绍了"国有企业风险管理实务与案例解析"；国泰君安期货汪欣茹分享了"期权工具原理及在玉米产业中 的应用实例"。 此外，京粮集团、厦门国贸等企业代表就期现结合实操展开深入探讨，一致认为金融赋能将加速农业产业从传统经营 向高质量发展转型。未来将以产融基地为纽带，扩大合作覆盖面，推动更多企业参与期货市场，为国家粮食安全与乡 村振兴注入更强动能。 编辑：穆皓 9月17日，由吉林省农发粮食集团、国泰君安期货、国泰海通证券吉林分公司主办，大连商品交易所特别支持的"DCE· 产业行-产融基地2025年玉米产业培训活动"在长春圆满收官。活动以"模式创新，期现联动，管控风险，稳定经营"为 主题，强调金融工具赋能农业实体的重要作用， ...

Group 1 - The 2025 China International Service Trade Fair (CIFTIS) is held in Beijing, focusing on financial services with the theme "Digital Intelligence Drives Open Win-Win" [1] - The Shunyi District is promoting a "Investment-Loan Linkage Cooperation Alliance" to enhance the local economy through a combined equity investment and debt financing model [1][2] - Shunyi District aims to improve its investment environment and attract quality financial institutions to support high-quality economic development [1][2] Group 2 - The Investment-Loan Linkage Cooperation Alliance integrates financial resources into a "one-stop" service system, improving financing efficiency and reducing costs for enterprises [2] - The alliance shifts from traditional financial assessments to a more holistic ecological view, providing systematic solutions to financing challenges [2] - Shunyi District's financial sector has shown growth, with a financial industry value added of 32.16 billion yuan in 2024, an 8% increase year-on-year [2][3] Group 3 - Shunyi District has attracted over 500 quality financial institutions, including banks and large industry funds, creating a diverse financial ecosystem [3] - The district's capital market has seen significant activity, with 134 listed companies raising nearly 240 billion yuan [3] - New policies to support high-quality industrial finance development were announced, including financial support for new institutions and enterprises [3][4] Group 4 - Shunyi District focuses on high-end manufacturing, including sectors like new energy vehicles and aerospace, while promoting modern service industries [4] - The district has successfully launched over 60 financial projects, leveraging its advantages as the largest area in Beijing's free trade zone [4][5] - There is an emphasis on deep integration of finance with high-end manufacturing sectors to achieve coordinated development [5]

Core Viewpoint - The 2025 China International Service Trade Fair (CIFTIS) held in Beijing focuses on financial services, promoting a collaborative investment and financing model to enhance economic development in Shunyi District [1][2]. Group 1: Event Overview - The CIFTIS took place from September 10 to 14, 2025, at Shougang Park in Beijing, featuring a financial services exhibition themed "Digital Intelligence Drives Open Win-Win" [1]. - The Shunyi financial exhibition area hosted a promotion meeting for the investment-loan linkage cooperation alliance, inviting various financial institutions to join [1]. Group 2: Investment-Loan Linkage Cooperation Alliance - The alliance aims to deepen the "equity investment + debt financing" model to provide precise financial services for enterprises in Shunyi District [1][5]. - It integrates government investment guidance funds with local banks to create a collaborative mechanism for information sharing, business expansion, and risk prevention [1][6]. Group 3: Financial Ecosystem and Support Measures - Shunyi District has established over 500 quality financial institutions, including banks and large industry funds, creating a diverse financial ecosystem [6][7]. - The district's financial industry added value reached 32.16 billion yuan in 2024, with a year-on-year growth of 8% [6]. - A new support policy was introduced during the fair to enhance the financial environment, including funding support for new financial institutions and assistance for small and medium enterprises [7]. Group 4: Industry Development Focus - Shunyi District is focusing on high-end manufacturing sectors such as new energy vehicles, aerospace, third-generation semiconductors, intelligent equipment, and healthcare [4][8]. - The district aims to promote the integration of finance with these industries, enhancing the development of a capital market and supporting enterprise growth through various financial products [9].

Core Viewpoint - The launch of futures and options for offset printing paper, fuel oil, asphalt, and pulp at the Shanghai Futures Exchange marks a significant step in enhancing risk management for the paper industry and meeting the diverse needs of enterprises in managing risks [1][2]. Group 1: Market Overview - China is the world's largest producer and consumer of cultural paper, with offset printing paper being a key segment, characterized by a large market size, high standardization, and significant price volatility [1]. - In 2024, China's production of offset printing paper is projected to reach 9.48 million tons, with apparent consumption at 8.71 million tons [1]. Group 2: Product Launch and Trading Performance - The first day of trading for offset printing paper futures saw a total of 21,900 contracts traded, amounting to 3.703 billion yuan, with an open interest of 2,900 contracts [2]. - The main contract OP2601 closed at 4,208 yuan per ton, down 10 yuan from the listing benchmark price, reflecting a decrease of 0.24% [5]. Group 3: Industry Impact and Risk Management - The introduction of offset printing paper futures fills a gap in the domestic market for financial derivatives related to cultural paper, enabling better risk management across the supply chain [4]. - The new products are expected to enhance the pricing model and supply-demand balance in the industry, allowing companies to adjust production capacity based on futures price signals [5][6]. Group 4: Expansion of Options Products - The launch of options for fuel oil, asphalt, and pulp, alongside the offset printing paper products, expands the Shanghai Futures Exchange's options offerings to 18, covering various sectors [7]. - Companies are increasingly exploring the use of options for more precise risk management, especially in the context of complex market conditions [7][8].

Group 1: Company Performance - In the first half of 2025, COFCO Capital achieved total revenue of CNY 4.893 billion and a net profit of CNY 1.314 billion, with net profit attributable to shareholders amounting to CNY 848 million [1] - COFCO Capital aims to become a leading comprehensive financial platform with a focus on serving the main business of COFCO Group, targeting specific goals for its business lines [1][2] Group 2: Business Strategies - COFCO Capital is implementing a four-category integrated financial service model focusing on national food security and COFCO Group's core business, including risk management, insurance, financing services, and rural support [2] - The company is enhancing its supply chain financial services, with rapid growth in the scale of supply chain finance and effective implementation of entrusted loan services [2] Group 3: Insurance Sector Focus - China-UK Life Insurance is committed to becoming a top joint venture life insurance company in China, with a focus on customer needs and core areas, emphasizing health, retirement, wealth, and inheritance [3] - In the first half of 2025, China-UK Life Insurance reported premium income of CNY 14.268 billion, a year-on-year increase of 31%, indicating strong business growth momentum [3] Group 4: Investment Performance - As of June 2025, COFCO Capital achieved a financial investment return rate of 2.27% and a comprehensive investment return rate of 4.32%, reflecting a commitment to quality investment [4]