Group 1 - The core stock price of Zhonggong International (002051) closed at 9.07 yuan as of December 31, 2025, down 0.33% from 9.1 yuan the previous week [1] - The highest intraday price on December 29 was 9.23 yuan, while the lowest intraday price on December 31 was 8.96 yuan [1] - The current total market capitalization of Zhonggong International is 11.223 billion yuan, ranking 10th out of 39 in the professional engineering sector and 1738th out of 5181 in the A-share market [1] Group 2 - Zhonggong International's wholly-owned subsidiary, Zhonggong Jiangsu, plans to initiate an asset-backed special plan for receivables not exceeding 800 million yuan, with the underlying assets being accounts receivable from overseas engineering projects [2][3] - As of December 26, 2025, the special plan has received subscription funds of 756 million yuan and officially commenced interest accrual on December 29, 2025 [2][3] - This special plan represents the first asset-backed security (ABS) entirely composed of overseas accounts receivable by a state-owned enterprise-controlled listed company [2][3]

格隆汇12月29日｜中工国际公告，经天衡会计师事务所（特殊普通合伙）验资，截至2025年12月26日， 中信建投-国机保理第2期绿色资产支持专项计划（一带一路）已收到认购资金合计人民币75,600万元。 本期专项计划已符合成立条件，于2025年12月29日正式成立，资产支持证券于当日开始计息。本期专项 计划是央企控股上市公司首单全部由海外应收账款构成的资产支持证券。 ...

Core Viewpoint - XinAo Energy (02688) has received a no-objection letter from the Shenzhen Stock Exchange regarding its proposed establishment of the "XinAo Pan Energy 1-8 Carbon Neutral Green Asset-Backed Securities Plan" [1] Group 1: Asset-Backed Securities Plan - The underlying assets of the asset-backed securities plan consist of equity in several distributed photovoltaic power generation and energy storage projects held by XinAo (China) Gas Investment Co., Ltd [1] - CITIC Securities Co., Ltd. and Huatai Securities (Shanghai) Asset Management Co., Ltd. will act as plan managers for the asset-backed securities [1] - The plan aims to further optimize the asset and financing structure of the company and its subsidiaries [1] Group 2: Issuance Details - The total issuance amount of the asset-backed securities plan will not exceed RMB 4 billion, with the possibility of issuing in multiple tranches, not exceeding 8 tranches [1] - The cash flows generated from the underlying assets held by the project companies will be used to pay the principal and interest [1] - The company expects the first tranche issuance scale to be approximately RMB 608 million, with plans to list the related asset-backed securities on the Shenzhen Stock Exchange [1]

智通财经APP讯，高阳科技(00818)公布，于2025年12月16日正式设立资产支持专项计划二期，总发行规 模人民币1.51亿元。其中，优先级资产支持证券发行规模为1.27亿元，次优先级资产支持证券发行规模 为2400万元。 发行资产支持证券所得款项将主要用作集团金融科技业务分类的一般营运资金。董事会相信，透过资产 支持专项计划发行资产支持证券，可有效拓宽集团融资渠道，获取低成本资金，进而优化公司融资结 构，促进经营活动及投资布局。 （原标题：高阳科技(00818)拟发行1.51亿元资产支持证券） ...

Group 1 - The company has approved a direct financing plan not exceeding RMB 20 billion (including equivalent foreign currency) through various financial instruments [2] - The financing methods include corporate bonds, medium-term notes, short-term financing bonds, and other debt financing tools [2] - The board of directors is authorized to manage the specifics of the financing, including types of instruments, issuance conditions, and fundraising purposes [2] Group 2 - A real estate asset-backed securities plan managed by Guojin Securities Asset Management Co., Ltd. is set to issue RMB 616 million [3] - All subscription funds have been transferred to the custody account, meeting the target fundraising scale as per the plan's documentation [3] - The asset-backed securities plan is confirmed to meet the establishment conditions and will officially commence on November 28, 2025 [3]

Core Insights - The China Securities Investment Fund Industry Association (CSRC) reported that as of October 2025, there were 130 new asset-backed securities (ABS) registered, with a total registration scale of 133.86 billion yuan [1] - The top three ABS underlying assets in terms of registration scale were micro-loan receivables (32.92 billion yuan), financing lease receivables (25.82 billion yuan), and accounts receivable (22.97 billion yuan) [1] - As of the end of October 2025, there were 2,596 ABS in existence, totaling 2,237.377 billion yuan, with infrastructure public REITs accounting for 84 of these, amounting to 205.195 billion yuan [1] Summary by Category New Registrations - In October 2025, 130 new ABS were registered, with a total scale of 133.86 billion yuan [1] - Infrastructure public REITs contributed 2 new ABS registrations, totaling 2.682 billion yuan [1] Existing ABS - As of October 2025, there were 2,596 ABS in existence, with a total scale of 2,237.377 billion yuan [1] - Infrastructure public REITs accounted for 84 existing ABS, with a total scale of 205.195 billion yuan [1] - The combined scale of ABS with underlying assets such as accounts receivable, real estate holding ABS, CMBS, financing lease receivables, and micro-loan receivables was 17,621.94 billion yuan, representing 78.76% of the total existing scale [1]

（编辑 楚丽君） 证券日报网讯 11月11日晚间，浙江东方发布公告称，为进一步拓宽融资渠道并降低融资成本，优化资 产负债结构，提升运营效率，公司控股子公司浙江国金融资租赁股份有限公司拟申请注册发行资产支持 证券（ABS）。 ...

Core Viewpoint - Xinjiang New Energy, a subsidiary of Xinte Energy (01799.HK), plans to issue an asset-backed special plan using two renewable energy projects as underlying assets to optimize capital structure and enhance asset turnover [1] Group 1: Asset-Backed Securities Plan - The asset-backed special plan will be part of a framework established by Tebian Electric Apparatus Stock Co., Ltd., the controlling shareholder of Xinte Energy [1] - Tebian Electric aims to register and issue asset-backed securities on the Shanghai Stock Exchange, with a shelf registration limit of RMB 3 billion, allowing for multiple issuances within this limit [1] - The initial issuance scale of the asset-backed special plan is expected to be no more than RMB 1.5 billion, targeted at qualified professional investors [1] Group 2: Equity Sale - Xinjiang New Energy intends to sell part of its equity in subsidiaries Rongsheng Power and Xinyuan Power to the manager, with the sale price determined by the valuation of these subsidiaries and the shareholder loans provided by Xinjiang New Energy [1]

Group 1 - The core objective of Xinjiang New Energy is to optimize its capital structure and enhance asset turnover by issuing an asset-backed special plan using two renewable energy projects as underlying assets [1] - The plan involves TBEA (the controlling shareholder) applying for a shelf registration of asset-backed securities with a total shelf amount of RMB 3 billion, allowing for multiple issuances within this limit [1] - The initial issuance scale of the asset-backed special plan is expected to be no more than RMB 1.5 billion, targeted at qualified professional investors [1] Group 2 - Xinjiang New Energy plans to sell part of the equity of its subsidiaries, Rongsheng Power and Xinyuan Power, to the manager, with the sale price determined by the valuation of these subsidiaries and the shareholder loans provided by Xinjiang New Energy [1]

Core Viewpoint - The company aims to optimize its capital structure and enhance asset turnover by applying for a shelf registration of asset-backed securities (ABS) on the Shanghai Stock Exchange, with a total shelf amount of 3 billion yuan [1] Group 1: Asset Management - The company plans to utilize power energy infrastructure held by its subsidiaries as underlying assets for the ABS issuance [1] - The first phase of the asset-backed special plan (referred to as "first phase REITs") will involve the issuance of up to 1.5 billion yuan, backed by two renewable energy projects held by its subsidiary, TBEA Xinjiang New Energy Co., Ltd [1]