每经记者｜蔡鼎 每经编辑｜段炼 魏官红 11月28日晚间，永泰能源（SH600157，股价1.61元，市值351.27亿元）和海伦哲（SZ300201，股价6.10元，市值61.55亿元）均公告重要股东王广西被立 案。两家公司均称立案事项与王广西为实控人的海德股份（SZ000567，股价7.72元，市值150.89亿元）有关。 同日晚间，海德股份也发布了相关公告，称因涉嫌信披违法违规，中国证监会决定对公司及实控人王广西进行立案调查。 永泰能源、海伦哲急忙"撇清关系" 永泰能源公告显示，本次立案所涉主体为公司实控人，涉及事项与公司无关，不会对公司经营决策和正常生产经营活动产生任何影响。因董事长、实控人 个人涉及非公司的立案事项，公司按照上市公司信披规定进行公告。 "本公司目前生产经营正常且稳定，发展前景良好。"永泰能源在公告中补充称。 海伦哲公告则显示，王广西为公司第一大股东之控股股东的实控人。公司同时强调，所涉事项与公司无关，不会对公司的日常经营和业务活动产生影 响。"公司目前无控股股东及实际控制人，按照上市公司信息披露规定而进行公告。公司目前生产经营一切正常⋯⋯"海伦哲补充称。 资料显示，王广西于1969年 ...

截至11月28日收盘，海德股份总市值150.89亿元。据公司2025年半年报，其主要布局在熟悉和擅长的底 层资产为能源、上市公司等业务领域，或者具有确定性的特殊机遇业务，通过重组、重整、盘活、纾 困、提质、增效、赋能、处置等多种手段化解不良资产、提升价值，与其他资管公司错位竞争。2025年 前三季度，海德股份营收同比下滑46.54%至4.57亿元，归母净利润同比下滑66.96%至1.71亿元。 登录新浪财经APP 搜索【信披】查看更多考评等级 每经记者｜蔡鼎 每经编辑｜魏官红 11月28日晚间，永泰能源（SH600157，股价1.61元，市值351.27亿元）和海伦哲（SZ300201，股价6.10 元，市值61.55亿元）均公告重要股东王广西被立案。两家公司均称立案事项与王广西为实控人的海德 股份（SZ000567，股价7.72元，市值150.89亿元）有关。 同日晚间，海德股份也发布了相关公告，称因涉嫌信披违法违规，中国证监会决定对公司及实控人王广 西进行立案调查。 永泰能源、海伦哲急忙"撇清关系" 永泰能源公告显示，本次立案所涉主体为公司实控人，涉及事项与公司无关，不会对公司经营决策和正 常生产经营活动 ...

Core Insights - The consumer finance industry is experiencing a surge in the disposal of non-performing assets, with over 10 billion yuan in personal consumer loan non-performing assets listed for disposal in November 2025, marking a significant active window for asset management [2][3][4] - The "sell without litigation" model is emerging as a new trend in the industry, reflecting a shift in market logic and regulatory policies that encourage faster and more efficient asset disposal [2][6][9] Industry Trends - Major institutions such as Huaxia Consumer Finance, Bank of China Consumer Finance, and others are actively participating in the disposal of non-performing loans, indicating a collective movement towards addressing asset quality issues [3][4][5] - The average overdue days for the non-performing loans being transferred are significant, with some loans having overdue periods exceeding 2000 days, highlighting the urgency for resolution [3][4] Changes in Asset Disposal Practices - The traditional asset disposal process, which typically involves a lengthy judicial process, is being replaced by a more streamlined approach where assets are directly listed for sale post-write-off, bypassing litigation [6][7] - This new model allows for quicker recovery of funds and reduces operational costs associated with collection and litigation, thus alleviating capital pressure on financial institutions [9][10] Regulatory and Market Dynamics - Recent changes in the rules of the trading platform, such as the removal of publicly disclosed starting prices for asset listings, aim to encourage a more data-driven assessment of asset value by potential buyers [10][11] - The introduction of binding clauses in asset transfer agreements is intended to curb illegal collection practices and promote a more compliant and orderly environment for debt resolution [11][12]

【 导读 】 邮储银行、平安银行挂牌转让个人不良贷款，规模高达21亿元 中国基金报记者 嘉合 11月24日，邮储银行、平安银行相继在银行业信贷资产登记流转中心（以下简称银登中心）发布个人不良贷款转让公告，合计转让不良贷 款规模达21.02亿元。 两家银行挂牌转让个人不良贷款 银登中心公告显示，邮储银行本次转让项目为2025年第1期个人不良贷款（信用卡透支），其中涉及81985笔贷款、81093户借款人，并 全部归类为损失类信用贷款。同时，该项目涉及的未偿本金总额为9.88亿元，未偿利息总额为3.09亿元，未偿本息合计达12.97亿元。 步入四季度以来，各家银行加速对不良资产的出清。据不完全统计，截至目前，本月以来各家银行在银登中心涉及个人不良贷款（信用卡 透支）类的转让公告已经超过20起。 例如，日前，民生银行信用卡中心在银登中心相继挂牌转让第6期和第8期个人不良贷款（信用卡透支）项目，合计本息金额超过了260亿 元。其中，该行第6期不良贷款转让项目，未偿还本息金额为51.42亿元；第8期不良贷款转让项目的未偿还本息金额为216.97亿元。 | 交易基准日 | 20250725 | 未偿本金总额(元) | 9 ...

Group 1 - The local asset management company (AMC) in Henan has acquired non-performing assets from three rural commercial banks for a total transfer price exceeding 5.2 billion yuan [1][2] - In 2024, the regulatory policies are focused on guiding AMCs to participate in risk resolution for small and medium financial institutions, highlighting the growing importance and business potential of local AMCs [1][4] - As of the end of Q3 2025, the non-performing loan balance of commercial banks in China reached 35,224.78 billion yuan, an increase of 2,432.85 billion yuan from the beginning of the year, with a non-performing loan ratio of 1.52%, up by 0.02 percentage points [1] Group 2 - Zhongyuan Asset Management Co., Ltd. has signed agreements to acquire non-performing assets from three banks, with transfer prices of 2.21 billion yuan, 1.56 billion yuan, and 1.50 billion yuan respectively [2] - In addition to recent acquisitions, Zhongyuan Asset has previously signed agreements for non-performing asset acquisitions totaling 1.947 billion yuan and 1.72 billion yuan [2] - The average discount rates for non-performing asset transfers are generally below 10% for batch personal business, below 45% for single corporate business, and below 25% for batch corporate business [3] Group 3 - Zhongyuan Asset is a provincial-level local AMC in Henan with a registered capital of 13 billion yuan, focusing on preventing and resolving financial risks while supporting the development of the real economy [3] - Henan Asset Management Co., Ltd. has also participated in risk resolution for local small and medium financial institutions, acquiring non-performing assets from two banks for 1.666 billion yuan and 1.456 billion yuan [3] - The AMC industry is capital-intensive, requiring significant funds for acquiring non-performing assets, with long repayment cycles for subsequent recovery and disposal [5] Group 4 - The banking industry in China has disposed of over 3 trillion yuan in non-performing assets in recent years, maintaining a stable overall non-performing loan ratio [5] - The financial regulatory authority has emphasized the need for banks to increase their efforts in disposing of non-performing assets, with a total disposal amount exceeding 3 trillion yuan in 2024 [4][5] - The bond market has become an important financing channel for local AMCs, with a noticeable increase in net financing due to declining interest rates in 2024 [5]

部分资产包的实际回收价格甚至不足未偿本息总额的10%。例如，广发银行于10月30日成交的信用卡不 良贷款，其资产原始金额约为20.53亿元，最终却以1.57亿元的转让价格，由广东粤财信托收购，相当于 仅回收资产金额的7.6%。 （文章来源：21世纪经济报道） 上海金融与发展实验室首席专家、主任曾刚指出，目前银行业较多采用转让的方式作为不良资产处置手 段。相较而言，规模化化解零售类资产风险，转让方式更具优势。 伴随金融机构挂牌转让规模的增长，一些机构不得不通过"打折促销"以加快成交速度。业内人士指出， 个贷不良批转业务折扣率受资产类型、逾期时间等因素影响。个人贷款不良资产通常缺乏抵押担保，回 收成本较高，故折扣率较低。 据券商中国报道，日前，国家金融监管总局披露的数据显示，商业银行不良贷款余额、不良贷款率环比 小幅"双升"。 与此同时，年内不良贷款转让市场规模也迎来"井喷"。仅今年11月以来，已挂牌相关资产包合计超过 260亿元，2025年上半年不良贷款转让挂牌规模已超1670亿元，较2024年同期增长了一倍。 ...

中原资产表示，本次业务有利于优化河南区域金融生态环境，对公司经营发展、财务状况和偿债能力产生积极影响。 今年8月7日，中原资产与平顶山鹰城农商银行签署《不良资产转让协议》，后者向中原资产转让不良资产，转让价款为19.47亿元。今年6月29日，中原 资产还与中原信托达成协议，受让后者转让价款17.2亿元的债权。去年9月4日，中原资产与郑州银行达成协议，后者向中原资产出售信贷资产及其他资 产，转让价款为100亿元，将以50亿元的现金及合计价值为50亿元的信托受益权方式支付。 近日，河南省的地方资产管理公司（以下简称AMC）接盘了省内三家农商行出让的不良资产，合计转让价款超52亿元。 2024年以来，监管政策着力引导AMC参与中小金融机构等重点领域的风险化解工作，地方AMC的重要性愈发凸显，且业务空间较大。据国家金融监督 管理总局披露，2024年我国银行业全年处置不良资产超3万亿元。 《每日经济新闻》记者注意到，截至2025年三季度末，我国商业银行不良贷款余额为35224.78亿元，较年初增加2432.85亿元；商业银行不良贷款率为 1.52%，较年初上涨0.02个百分点。 河南地方AMC今年出手频繁 近日，中原资 ...

Core Viewpoint - Zhongyuan Asset Management Co., Ltd. has signed agreements to acquire non-performing assets from three rural commercial banks in Henan for a total of 5.277 billion yuan, indicating a strategic move to optimize the financial ecosystem in the region and prepare for further reforms in the local banking sector [2][3][5]. Summary by Sections Acquisition Details - Zhongyuan Asset has entered into agreements with Luoyang Rural Commercial Bank, Henan Junxian Rural Commercial Bank, and Hebi Rural Commercial Bank, with transfer prices of 2.21 billion yuan, 1.564 billion yuan, and 1.503 billion yuan respectively, making the total acquisition price 5.277 billion yuan [3]. - The contracts have already taken effect as of November 13 [3]. Financial Impact - The acquisition is expected to positively influence Zhongyuan Asset's operational development, financial status, and debt repayment capacity, with an overall manageable risk profile and anticipated returns [3][4]. Asset Quality Concerns - The three banks involved have faced increasing pressure on asset quality, with Luoyang Rural Commercial Bank's non-performing loan (NPL) ratio exceeding 3.98% by the end of 2020, and Hebi Rural Commercial Bank's NPL ratio reaching 3.46% by the third quarter of 2017 [4]. - Although Henan Junxian Rural Commercial Bank has not disclosed its NPL ratio, it was reported that over 5% of loans were non-performing as of the end of 2018 [4]. Reform Context - The Henan rural credit system is undergoing a phased reform, with 102 rural commercial banks and 5 village banks already merged since the establishment of Henan Rural Commercial Bank [5]. - The three banks transferring non-performing assets are part of the remaining 34 banks yet to undergo reform, suggesting that this asset transfer may facilitate further restructuring efforts [5]. Role of Local AMCs - Local Asset Management Companies (AMCs) like Zhongyuan Asset and Henan Asset have played crucial roles in the disposal of non-performing assets during the consolidation of small and medium-sized banks in Henan [6]. - Prior to this acquisition, Henan Asset had also acquired non-performing assets from other rural commercial banks, which were subsequently merged into Henan Rural Commercial Bank [6]. Broader Implications - The strategy of allowing local AMCs to first acquire non-performing assets helps the merging banks to shed historical burdens, facilitating smoother integration into new banking structures and promoting regional financial stability [6][7].

11月，消费金融行业不良资产处置进入活跃期，多家机构加速出清不良资产包。据记者不完全统计，本 月待处置不良贷款规模已超过50亿元，中银消费金融、中邮消费金融、兴业消费金融、南银法巴消费金 融、马上消费金融、海尔消费金融等多家机构先后挂牌。 值得注意的是，为提升处置效率，越来越多的消费金融公司选择在核销不良贷款后，未对借款人展开司 法诉讼，即直接挂牌转让，出现"未诉即卖"的新变化。 今年以来，消费金融公司不良资产包出清速度明显加快。据记者不完全统计，截至目前，有中银消费金 融、中邮消费金融、兴业消费金融、建信消费金融、中信消费金融、杭银消费金融、湖北消费金融、锦 程消费金融、南银法巴消费金融、平安消费金融、海尔消费金融、马上消费金融等十余家机构已在市场 上转让不良贷款。与往年相比，今年的转让规模和频次均明显上升。 从资产特征看，今年挂牌的不良资产整体呈现小额分散，但长期逾期资产占比高，多数项目起拍价低于 账面价值的1折。中国银行研究院研究员叶银丹分析称，这主要由三方面原因决定：一是高频转让导致 供给增加；二是投资者风险偏好低、回报不确定；三是市场需求整体偏弱。 早在11月14日，兴业消费金融连续发布四则不良贷款 ...

Core Viewpoint - Changsha Bank plans to dispose of nearly 700 million yuan of non-performing assets, indicating a trend of accelerated non-performing asset transfers in the banking industry [2][4][8] Summary by Sections Changsha Bank's Non-Performing Asset Disposal - Changsha Bank's board approved the batch transfer of non-performing assets totaling 69,527.02 million yuan [4] - The purpose of this disposal is to enhance efficiency and reduce management costs [4] Financial Performance Overview - As of the end of Q3, Changsha Bank's non-performing loan balance reached 7.162 billion yuan, an increase of 779 million yuan from the end of the previous year [4] - The non-performing loan ratio stands at 1.18%, up by 0.01 percentage points year-on-year [4] - The provision coverage ratio is 311.88%, down by 0.92 percentage points from the previous year [4] - Total assets of Changsha Bank amounted to 1.2437 trillion yuan, reflecting an 8.5% increase year-on-year [4] - Operating income for the reporting period was 19.72 billion yuan, a year-on-year increase of 1.3% [4] - Net profit attributable to shareholders was 6.56 billion yuan, up 6.0% year-on-year [4] Industry Trends in Non-Performing Asset Disposal - Since entering Q4, financial institutions have noticeably accelerated the pace of non-performing asset disposals, with multiple banks announcing such actions [6][8] - For instance, Bohai Bank plans to publicly transfer a debt asset totaling approximately 70 billion yuan, aiming to improve asset quality and enhance competitiveness [7] - Guangzhou Rural Commercial Bank has also approved a significant asset package transfer totaling about 18.928 billion yuan [7] Factors Driving Non-Performing Asset Transfers - The acceleration in non-performing asset transfers is attributed to a combination of policy, regulatory, and operational factors [8] - The banking sector is facing increasing pressure from non-performing assets, which occupy credit resources and hinder long-term sustainable development [8] - Accelerating disposals not only recovers cash but also positively impacts provision management and tax adjustments, especially as year-end approaches [8] - Data from the National Financial Regulatory Administration indicates that the banking sector disposed of 1.5 trillion yuan in non-performing assets in the first half of the year, an increase of 123.6 billion yuan year-on-year [8]