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首单获批的数据资产ABS发行,华鑫证券落笔“数字金融”大文章
Group 1 - The first approved data asset ABS in China, "Huaxin-Xinxin-Data Asset Phase 1 Asset-Backed Special Plan," was issued on July 31, with a scale of 133.7 million yuan and a priority interest rate of 2.0% [1] - The project is seen as a milestone in the financial market, reflecting high recognition of data as a new asset class and a significant breakthrough in financial services for the real economy [2][4] - The underlying assets of the project come from nine companies across various industries, including listed companies and private enterprises, indicating strong credit quality and stable repayment capacity [2][3] Group 2 - The issuance of the Xinxin data ABS coincides with a period of intensive policy releases regarding data elements, aiming to explore the inclusion of data rights into pledgeable intellectual property categories [4] - The successful issuance is a vivid interpretation of Huaxin Securities' service to national strategies, promoting the standardization of data asset recognition and evaluation across regions [4][5] - The deep impact of data asset securitization is expected to support the construction of a unified national data element market, potentially unlocking a trillion-level data asset market for sustainable economic growth [5]
首单获批的数据资产ABS发行 华鑫证券落笔“数字金融”大文章
Core Insights - The first approved data asset ABS, "Huaxin-Xinxin-Data Asset Phase 1 Asset-Backed Special Plan," was successfully issued on July 31, with a scale of 133.7 million yuan and a priority interest rate of 2.0% [1][2] - This innovative product marks a significant milestone in the financial market, reflecting high recognition of data as a new asset class and facilitating the transformation of data elements into capital [2][4] Group 1: Project Overview - The project is managed by Huaxin Securities and involves nine underlying enterprises from Jiangsu, Zhejiang, Shaanxi, and Jiangxi provinces, including both listed companies and private enterprises with strong qualifications and stable debt repayment capabilities [2][3] - The industries represented by the underlying enterprises include construction, wholesale and retail, and information technology services, with diverse data asset types such as vehicle travel data and agricultural production data [3] Group 2: Policy Context and Future Implications - The issuance of the data asset ABS coincides with a period of intensive policy releases regarding data elements, indicating strong governmental support for the development of the data industry [4] - The successful issuance is expected to drive the establishment of a unified national data element market, with the potential to unlock a trillion-level data asset market, thereby injecting sustainable momentum into China's high-quality economic development [5]
全国首单获批数据资产ABS正式发行 华鑫证券以专业金融之力落笔“数字金融”大文章
Zhong Zheng Wang· 2025-07-31 10:34
Group 1 - The first approved data asset ABS in China, "Huaxin-Xinxin-Data Asset Phase 1 Asset Support Special Plan," was officially issued on July 31, with a scale of 133.7 million yuan and a priority interest rate of 2.0% [1] - The project is seen as a milestone in the financial market, marking a significant breakthrough in financial services for the real economy and facilitating the transformation of data elements into capital [2][4] - The underlying assets of the project include nine companies from various sectors such as construction, wholesale and retail, and information technology, with a strong focus on compliance and legal requirements [3] Group 2 - The issuance of the data asset ABS coincides with a period of intensive policy releases regarding data elements, indicating a supportive regulatory environment for data asset financing [4] - The successful issuance is expected to have a profound impact across multiple sectors, promoting the establishment of a unified national data element market and enhancing the standardization and scalability of data asset financing [5] - Huaxin Securities aims to continue exploring digital finance, focusing on the development of data asset valuation models and cross-industry securitization solutions to convert dormant data into capital [5]
精准“滴灌”四省企业 全国首单获批数据资产证券化项目正式发行
Xin Hua Cai Jing· 2025-07-31 09:00
今年4月14日,该项目于深交所首获无异议函的消息曾引发关注,被誉为"金融市场里程碑事件"。如 今,这一开创性产品成功从"获批"迈向"落地",不仅体现了资本市场对数据要素作为新型基础资产类别 的高度认可,更是金融服务实体经济、畅通数据要素"资源-资产-资本"价值转化通道的重大突破。 "数据家底"变为流动资金,四省企业共享融资红利 本项目9家入池企业分布于江苏、浙江、陕西、江西四省七城,既有综合数据服务提供商每日互动这样 的上市公司,也有工业智能数据设备提供商江西冠英智能科技这样的民营专精特新小巨人企业,还有陕 西省属国企陕建集团子公司陕建物流集团、南京市建邺国资集团旗下园区管理子公司创特物业、南京市 江心洲无人驾驶服务商未来出行等国资背景企业。 支撑这种多元主体融资需求的,是一套采用多笔数据资产质押贷款的创新机制。它的核心价值在于,通 过完整的操作闭环验证了"数据资产可作为基础资产独立入池融资"的可行性,从数据资源筛选、合规审 查,到资产定价、证券化发行,再到现金流的结构化设计,形成了一套可复用的全链条流程,为行业提 供宝贵的操作范本。这种创新模式下,数据企业能够将数据资产转化为融资工具,打破了传统融资对实 物 ...
1.337亿元 全国首单获批的数据资产证券化项目正式发行
人民财讯7月31日电,2025年7月31日,全国首单获批的数据资产证券化项目"华鑫-鑫欣-数据资产1期资 产支持专项计划"在深圳证券交易所正式发行设立。该项目由南京鑫欣商业保理有限公司作为发行人、 华鑫证券有限责任公司作为管理人和销售机构,首期发行规模1.337亿元,优先级票面利率2.0%,其中 89%现金流均来源于数据资产质押贷款。深圳数据交易所全程参与支持,保障了该资产证券化项目的顺 利发行。 ...
全球无形资产突破80万亿美元 证券化成“轻资产”融资新蓝海
Jing Ji Guan Cha Bao· 2025-06-28 11:55
Core Insights - The global value of intangible assets has reached a historic high of $80 trillion in 2024, marking a 13-fold increase since 1996, and is becoming a significant driver of global economic development [1][2] - Intangible asset securitization, particularly in intellectual property and data assets, is emerging as a key tool for unlocking the value of these assets and addressing financing challenges faced by asset-light enterprises [1][2] Industry Growth - The global market for intangible asset securitization is experiencing rapid expansion, with significant growth in the issuance of mortgage-backed securities (MBS) and asset-backed securities (ABS) in the U.S. in 2024, amounting to $1,595 billion and $388 billion respectively [2] - In China, the asset securitization market has also seen swift development, with a total issuance scale of 1.98 trillion yuan in 2024, and intellectual property securitization accounting for 0.5% of this, totaling 9.806 billion yuan [3] Policy Support - Government initiatives, including tax incentives, financial subsidies, and the establishment of special funds, are being implemented to lower the barriers and costs for enterprises participating in intangible asset securitization [4] - Regulatory bodies are actively working to improve relevant laws and regulations, providing clear guidelines for the issuance, trading, and risk management of intangible asset securitization products [4] Company Initiatives - As a pioneer in the field, the company has achieved multiple breakthroughs in intangible asset securitization, successfully issuing 23 products in intellectual property securitization, including the first market-oriented credit-enhanced intellectual property ABS [5] - The company has also launched the "Xin Xin Data ABS," which is the first officially approved data asset securitization project in China, and has completed over 50 cases of "data product registration" and "data asset incorporation" [5]
“新十年再出发” 资产证券化助力经济高质量发展
Xin Hua Cai Jing· 2025-05-28 08:56
Core Viewpoint - The recent forum on asset securitization in China highlighted its significant role in supporting the real economy, enhancing consumer spending, revitalizing existing assets, optimizing resource allocation, and mitigating financial risks [1][2]. Group 1: Development and Trends in Asset Securitization - China's asset securitization market has matured over 20 years, with the first projects emerging around 2005, indicating a youthful and dynamic phase of development [1]. - The market has seen the introduction of various asset-backed securities (ABS) products, including infrastructure REITs, which have effectively served the real economy and supported private enterprises [2]. - As of April 2025, the total scale of the Shenzhen Stock Exchange's bond market approached 3.5 trillion yuan, showing significant positive growth [3]. Group 2: Innovations and Future Opportunities - The integration of public data assets into the securitization framework is emerging as a new growth driver, with the potential to transform public data into tradable financial products [3]. - The national data market is projected to grow from 160 billion yuan to 716 billion yuan by 2030, indicating a substantial increase in data asset transactions [4]. - Innovations in supply chain bill asset securitization are expected to enhance the efficiency of financial services, particularly in green and digital finance [5].
企业ABS加速扩容提质 年内发行规模与数量同比双增
Core Viewpoint - The issuance of Asset-Backed Securities (ABS) in China is experiencing significant growth, with a total issuance amount of 16.26 billion yuan announced by several securities companies, reflecting a broader trend of increasing market interest in ABS as a tool for asset optimization and financing structure improvement [1][2]. Group 1: Market Trends - In 2023, a total of 472 ABS have been issued in the exchange bond market, with a cumulative issuance scale of 403.485 billion yuan, representing year-on-year increases of 34.86% and 39.95% respectively [1][2]. - The ABS market is expanding to include data assets, marking a significant development in the types of underlying assets being securitized [3][4]. Group 2: Regulatory and Market Drivers - Regulatory reforms aimed at optimizing approval processes and lowering entry barriers are facilitating the growth of the ABS market [1][3]. - There is a growing demand from enterprises to revitalize existing assets and diversify financing channels, making ABS an attractive option due to its unique financing mechanisms [1][3]. Group 3: Asset Diversity and Challenges - The current ABS market in China is still in its early stages, with a need for increased asset diversity; most underlying assets are concentrated in traditional sectors like bank credit and accounts receivable [5][6]. - As of this year, 356 of the 472 ABS projects are based on bank credit and accounts receivable, accounting for 75.42% and 68.64% of the total issuance scale respectively [6]. Group 4: Future Outlook - The ABS market is expected to evolve towards greater safety, transparency, and sustainability, with an anticipated steady increase in total issuance scale and structural adjustments in the types of underlying assets [7]. - Innovations in product offerings are likely to focus on cash flow from assets, with potential expansions into sectors such as long-term rental apartments and biotechnology [7].
重塑企业估值 A股公司数据资产“入表”提速扩围
Zheng Quan Ri Bao· 2025-05-05 16:25
Core Insights - The implementation of the "Interim Regulations on Accounting Treatment Related to Corporate Data Resources" on January 1, 2024, is driving a transformation in the A-share market regarding the recognition of data assets [1][4] - The number of companies recognizing data assets in their financial statements has surged from 17 to 92, with the disclosed scale increasing from 0.79 billion to 24.95 billion [2][6] - The trend is reshaping corporate asset structures and creating new markets in data governance, asset evaluation, and financial services, potentially unlocking a trillion-yuan data factor market [1][6] Industry Expansion - The data asset recognition process in A-share companies has accelerated significantly in 2024, with 92 companies reporting data assets by year-end [2] - The primary sectors involved include information technology, manufacturing, and infrastructure, which together account for over 90% of the total disclosed data asset scale [2][6] - New sectors such as leasing, retail, scientific research, finance, mining, and utilities have also begun to participate in data asset recognition [2] Standardization and Compliance - The accounting treatment of data assets is transitioning from diverse exploratory practices to standardized applications, with companies providing detailed disclosures in their annual reports [3] - Companies are now specifying amortization methods and key measurement aspects, indicating a move towards a more structured accounting framework [3] Financial Optimization - The recognition of data assets is enhancing corporate financial structures by expanding total asset scales and improving debt ratios [6] - Investors are now evaluating companies based on data asset size and quality, alongside traditional financial metrics, leading to a new valuation paradigm [6] Data Asset Securitization - The establishment of the "Ping An - Rugao Phase 1 Asset-Backed Special Plan (Data Assets)" marks a breakthrough in data asset securitization, with an issuance scale of 1.3 billion [7] - Data assets are being recognized as collateral for financing, and the trend of data asset securitization is emerging as a new financing avenue [6][7] Industry Ecosystem Development - A comprehensive service ecosystem is forming around data asset recognition, involving collaboration among various service providers, including accounting firms, technology companies, and financial institutions [8] - The number of data asset service companies in China has reached 3,553, indicating a growing market for data asset management [8] Future Trends - In the next 1 to 3 years, the number of companies recognizing data assets is expected to grow rapidly, along with improvements in standardization and compliance [7] - Companies with high-value data assets may achieve higher premiums as the valuation logic evolves [7]
全国首单数据资产ABS在深成功发行
news flash· 2025-04-30 02:34
Core Viewpoint - The launch of China's first data asset ABS product marks a significant advancement in the securitization of data assets, indicating a new phase in this sector [1] Group 1 - The product, named "Ping An - Rugao Phase 1 Asset-Backed Special Plan (Data Asset)," was established on April 28 at the Shenzhen Stock Exchange [1] - The issuance scale of the product is 130 million yuan, with a coupon rate of 2.4% [1] - The product received an AAA rating for its senior tranche, with over 50% of the collateral being data assets, which is the first time data assets have been explicitly labeled in this context [1]