今年上半年，消费金融公司通过挂牌方式转让不良贷款的节奏明显加快。 证券时报记者据银行业信贷资产登记流转中心(下称"银登中心")数据统计发现，截至6月28日，2025年 以来已有15家消费金融公司通过银登中心挂牌项目期数达110个，挂牌不良贷款资产包(含未偿本金和利 息)规模超300亿元，大幅超出往年同期。 值得注意的是，为提升不良贷款的转让效率，许多消金公司对不良贷款核销之后，在未对借款人进行司 法诉讼的情况下直接挂牌转让，出现了"未诉讼直接卖"的新变化。 业内人士对证券时报记者表示，消金公司加快"甩卖"不良贷款可降低催收、诉讼等运营成本，避免资产 持续贬值；同时也可以快速回笼资金，缓解资本压力。 上半年挂牌转让 规模超300亿元 截至6月28日，年内已有招联消费金融、兴业消费金融、中银消费金融等15家消费金融公司，通过银登 中心转让个人消费类不良贷款，合计超300亿元，已成为挂牌不良贷款仅次于商业银行的金融机构。 数据显示，年内挂牌总规模最大的是招联消费金融，共公布了11期个人消费类不良贷款资产包，未偿本 金和利息达85.32亿元，大幅超出其他消金公司。 据统计，挂牌转让不良资产包规模超30亿元的消金公司有 ...

金融风险存在薄弱环节 《报告》指出，从7家商业银行审计情况看，金融风险正在有效缓解和管控，风险总体可控，但仍存在一些薄 弱环节。 记者查阅相关银行行政罚单，近两年有关"四证"不全的房地产项目的罚单并不少见。如金融监管总局网站2024 年4月披露，汉口银行因违规向四证不全的房地产项目提供融资，且部分资金用于偿还本行风险贷款等问题受 到当地监管部门的处罚。此外，同年10月份的罚单显示，九江银行因理财资金用于受让本行表外风险资产、 向"四证"不全的房地产项目提供融资，领到罚单。 此外，上述《报告》指出，有5 家银行对账户资金异常流动监管不力，11 家地方融资平台借机向公众集资 247.43亿元，主要用于偿还存量债务等，所承诺保底年化收益最高达12%，使债务风险向涉众领域外溢。 近日，审计署披露了《国务院关于2024年度中央预算执行和其他财政收支的审计工作报告》（下称《报 告》），指出部分接受审计的金融机构在金融风险方面存在薄弱环节，此外，还存在违规掩盖处置不良资 产，以及违规放贷揽储等问题。 具体如有6家银行2022年以来，违规向"四证"不全等房地产项目发放开发贷款等共计209.68亿元。有7家银行在 支持房地产中 ...

上海联合产权交易所信息显示，中信青岛资产管理有限公司66.67%股权在该所挂牌转让，转让底价接 近30.14亿元。该笔股权转让方为中信百年资产管理有限公司，后者持股66.67%。中信青岛资产管理有 限公司(原青岛市资产管理有限责任公司)于2015年9月成立，次年2月正式获得批量收购处置金融机构不 良资产业务资质，成为全国首家市级AMC公司。2021年8月，公司由中信集团控股，更名为中信青岛资 产管理有限公司。(人民财讯) ...

在完成17项议案的宣读和审议，以及独立董事的述职后，包括董事长高迎欣、行长王晓永在内的管理层详尽回 答了多名股东的提问。券商中国记者在现场看到，参会股东涵盖机构投资者代表和个人股东，部分股东此次专 程从其他城市赶来参会。 总体来看，提问股东对民生银行营收可持续性、净息差挑战、历史包袱处置和公司治理等核心议题尤为关注。 民生银行管理层也重点围绕战略转型和具体打法进行了介绍。现场还有部分股东还向该行管理层询问了未来市 值管理和分红比例的看法。 券商中国记者注意到，此次民生银行管理层还回应多个市场密切关注的议题，例如"泛海系"全面退出民生银行 股东行列，长城资产等新的股东方逐渐浮出水面，东方集团不良诉讼最新进展等。 6月26日，民生银行2024年年度股东大会在京召开。 新股东登场，泛海彻底"出局" 近年来，民生银行股东迎来重要变化。2024年12月，新希望集团通过南方希望实业、新希望六和投资、新希望 化工连续通过二级市场增持民生银行股份，并完成举牌动作，至此刘永好掌舵的"新希望系"跃居该行第二大股 东。 就在民生银行2024年年度股东大会上，该行管理层透露，又有多家机构投资者、民营企业成为该行的新股东。 值得一提的 ...

Core Insights - The current bad asset market is expanding, but the business for Asset Management Companies (AMCs) is becoming increasingly difficult [1][2] - The market is characterized by a hot primary market, a struggling secondary market, and a frozen tertiary market, leading to challenges in finding investors [1][2] - The overall demand in the market presents opportunities for AMCs, but it also raises high requirements for their functional positioning, business models, and risk management [2] Group 1: Challenges Facing AMCs - AMCs are experiencing difficulties in disposing of bad assets, with issues such as poor asset liquidity and declining asset quality, resulting in increased profit pressure [3] - The bottom asset prices are still in a downward trend, particularly in real estate, and overall yield rates are declining, putting pressure on performance assessments [3] - The shift in strategy from debt-oriented thinking to equity-oriented thinking is being considered to enhance potential returns [3] Group 2: Individual Loan Challenges - Individual loans are seen as a challenging area for AMCs due to low single-amount loans, wide distribution, and complex legal relationships, leading to high operational costs [4] - The average interest margin for corporate loans is around 15%, while personal loans yield less than 3%, making corporate business more attractive [4] Group 3: Market Dynamics and Valuation Issues - There is a significant valuation gap between sellers and disposers of assets, with banks sometimes overestimating asset values [6] - The main funding source for AMCs is bank loans, which misaligns with the long-term nature of bad asset disposal [6] - The demand for asset disposal and debt restructuring is increasing due to a rise in non-financial institutions' receivables and prolonged recovery cycles [6] Group 4: International Perspectives and Recommendations - Learning from overseas experiences, AMCs can consider alternative investments and mergers to inject structural momentum into the market [6][7] - Chinese enterprises are encouraged to explore global opportunities to alleviate competitive pressures and develop new advantageous industries [7] - Utilizing innovative financial tools in regions like Hong Kong can help convert domestic assets into tradable digital assets, enhancing the integration of financial technology with the real economy [7]

Core Insights - The performance assessment period for bank employees is intensifying, with a focus on meeting various financial targets amid declining deposit rates and increasing competition in loan services [1][2] - Banks are adopting more refined performance evaluation metrics, emphasizing daily deposit increments, support for small and micro enterprises, and the collection of non-performing loans [2][3] - The focus on non-performing asset disposal is critical for banks, as recovered assets can positively impact profits [3] Performance Assessment - Bank employees are under pressure to meet performance targets, with many working overtime and making numerous calls to clients to secure deposits and loans [2] - The assessment criteria have shifted to prioritize inclusive finance, linking performance and bonuses directly to the support of small and micro enterprises [2] - There is an increased emphasis on payroll services, which can enhance liquidity and support other banking products [3] Credit Growth and Stability - As of the end of May, the total RMB loan balance was 266.32 trillion yuan, reflecting a year-on-year growth of 7.1%, with a stable increase in credit supporting the real economy [4] - Over 90% of new loans this year have been directed towards enterprises, with significant growth in medium and long-term loans [4][5] - Banks are focusing on balanced and stable credit growth, adapting to project-based lending to meet the specific needs of enterprises [5] Regulatory Compliance - There are concerns about the resurgence of unethical practices in deposit acquisition, such as offering higher interest rates through unofficial means [6] - Regulatory bodies are monitoring and addressing these practices to maintain a stable banking environment, emphasizing compliance in marketing behaviors [6]

Core Viewpoint - The company received an inquiry letter from the Shanghai Stock Exchange regarding its 2024 annual report, prompting a detailed response concerning its engineering business and contract assets [1]. Group 1: Engineering Business and Revenue - In 2024, the company's engineering construction and other businesses generated revenue of 803 million yuan, a slight increase of 0.94% year-on-year, with a gross profit margin of 34.52%, down 4.85 percentage points from the previous year [1]. - The year-end balance of contract assets was 222 million yuan, a significant increase of 150.8% year-on-year, primarily due to completed engineering projects that had not yet reached the collection point [1][9]. - The company reported a cumulative provision for bad debts of 12.55 million yuan [1]. Group 2: Revenue Breakdown and Margin Analysis - The revenue breakdown for engineering construction and other businesses included: - Expansion projects: Revenue of 272.27 million yuan, gross margin of 46.21% - Old community renovation: Revenue of 193.35 million yuan, gross margin of 23.19% - Power distribution projects: Revenue of 164.88 million yuan, gross margin of 15.71% - Service business: Revenue of 114.86 million yuan, gross margin of 65.89% - Wastewater treatment: Revenue of 10.54 million yuan, gross margin of 13.98% - Others: Revenue of 47.51 million yuan, gross margin of 7.56% [3]. - The gross profit margin for expansion projects decreased from 55.88% to 45.37% due to the impact of the real estate market [3]. Group 3: Contract Assets and Bad Debt Provisions - The company’s contract assets primarily consist of completed but unsettled engineering business. The major projects include old community renovation projects, with clients mainly being government units with good credit [5][10]. - The company has a bad debt provision policy based on aging, with a 5% provision for assets aged within one year and a higher percentage for older assets [5]. - The company believes that the basis for the provision for bad debts is sufficient, given the long settlement cycles of the projects [5][10]. Group 4: Audit and Compliance - The annual audit confirmed that the company’s revenue recognition policies comply with accounting standards, and there were no indications of premature revenue recognition [9][14]. - The audit procedures included reviewing cost occurrence data, settlement documents, and project completion records to ensure the reasonableness of revenue recognition [9][14].

为摆脱长期亏损的三文鱼业务重负，佳沃食品迈出关键一步。近日，佳沃食品宣布将北京佳沃臻诚科技有限公司（以下简称"佳沃臻诚"）100%股权 转让给关联方佳沃品鲜 (北京) 企业管理有限公司的交易已正式完成。佳沃食品与控股股东佳沃集团达成一致，由佳沃集团成立SPV公司佳沃品鲜， 专司接收佳沃臻诚及相关资产。经机构评估，佳沃臻诚100%股权的评估值为-5475.16万元，经买卖双方友好协商，确定交易的对价为1元。 更严重的问题在运营数年后暴露。佳沃食品发现，在2018年至2022年的5年间，Australis拥有的96个养殖中心中有33个存在超产情况，累计超产总量 高达8.1万吨。公司在主动披露此违规后，不得不实施减产，进一步冲击了业务表现。 根据财报数据，自2019年收购Australis起至2024年，佳沃食品连续六年录得亏损，累计亏损超43亿元，其中在2022年，因对Australis商誉预计减值12 亿—18亿元等原因，佳沃食品年内净资产为-3.01亿元，被实施退市风险警示，佳沃集团及其附属公司宣布豁免约18亿元债务，助其摘星。 尽管获得了一次救助，但三文鱼业务的基本面并未好转，负责运营三文鱼业务的佳沃臻诚， ...

恒大许家印又曝出新消息。 近日，香港商报援引外媒消息，中国恒大创始人许家印前妻丁玉梅被指通过"技术性离婚"获得恒大数百 亿分红。在恒大贷款违约9个月后，丁玉梅通过5家离岸公司，以4980万英镑（约5.27亿港元）连购伦敦 豪宅，但文件未提及购买时间。 根据恒大2023年8月提交的公告，丁玉梅不再被列为董事局主席许家印的配偶，但目前未有明确二人具 体的离婚时间。 2024年1月，负债2.4万亿元的恒大被中国香港高等法院下令清盘，并任命安迈顾问董事总经理Edward Simon Middleton及黄咏诗（Wing Sze Tiffany Wong）作为恒大清盘人。 清盘人接管后入禀香港高等法院，向许家印、其前妻丁玉梅、前行政总裁夏海钧及前首席财务官潘大荣 等人追讨约60亿美元的股息及酬金。 香港高等法院随后颁发了全球资产冻结令，禁止他们处理名下总值约600亿港元的全球资产，包括丁玉 梅在英国的银行存款及伦敦豪华公寓。 在此背景下，丁玉梅于今年2月向香港高等法院提出了两项申请。 动态方面，日前恒大旗下不良资产正在加速处置，其中，"恒大系"12家公司不良债权被集中摆上货架， 拿出来招商，债权总额约113亿元，12笔 ...

恒大许家印又曝出新消息。 近日，香港商报援引外媒消息，中国恒大创始人许家印前妻丁玉梅被指通过"技术性离婚"获得恒大数百亿分 红。在恒大贷款违约9个月后，丁玉梅通过5家离岸公司，以4980万英镑（约5.27亿港元）连购伦敦豪宅，但文 件未提及购买时间。 动态方面，日前恒大旗下不良资产正在加速处置，其中，"恒大系"12家公司不良债权被集中摆上货架，拿出来 招商，债权总额约113亿元，12笔不良资产的持有人均为长城资产北京市分公司，涉及的项目遍布北京、天 津、成都等多个一、二线城市，涵盖住宅、商业及文旅等多个类型项目。 许家印前妻被曝5亿连买伦敦豪宅 近日，据香港商报援引外媒报道，许家印前妻丁玉梅被指通过"技术性离婚"获得恒大数百亿分红。在恒大贷款 违约9个月后，丁玉梅斥资数千万英镑在伦敦买下多套豪宅。 上述报道引用1月一份法庭文件显示，丁玉梅通过5家离岸公司，以4980万英镑（约5.27亿港元）购入伦敦豪宅 项目Thames City的33个单位，不过，文件未提及购买时间。 查阅英国土地注册处文件显示，有关豪宅是于2022年9月所购，而有关时间点，正是在内地有关部门敦促许家 印动用个人身家偿付债务将近一年之后。 ...