编者按 当前，资本市场改革持续深化，证券行业正处在乘势而上、建设一流投资银行和投资机构的关键战略机 遇期，学习、宣传、贯彻党的二十届四中全会精神是当前和今后一个时期的重要政治任务。为此，中国 证券报联合中国证券业协会推出"证券公司学习宣传贯彻党的二十届四中全会精神"系列专题报道，聚焦 证券公司在强化功能发挥、提升专业能力、推进差异化发展、筑牢合规风控底线、厚植行业文化底蕴等 方面的实践探索与丰硕成果，生动展现证券公司作为资本市场重要践行者、改革排头兵、服务主力军的 责任担当与时代作为。本篇为系列报道第三十篇。 雄关漫道，星河璀璨。卅载风雨，铸就金融脊梁。自1995年于改革春潮中破土而生，长城证券 （002939）便如一道蜿蜒于资本市场的"金融长城"，以深圳为原点，将服务的脉络延伸至大江南北。 棋局新开 于产融共生中落子 善弈者谋势，不争一子之得失；善融者聚力，贵在全局之共生。长城证券正于产业金融的棋盘上，布下 一局共生共荣的大棋。 从首批综合类券商到深交所挂牌上市，其名"长城"，早已超越了地理符号，升华为一种深耕产业、固本 培元的战略定力。当"十五五"的号角吹响，金融强国建设的时代命题如巍峨关山矗立眼前，这家 ...

本报（chinatimes.net.cn）记者何一华 李未来 北京报道 随着双碳目标纵深推进，低碳领域已从政策驱动开道，跃升为创投机构布局的新模态。近日，朗玛峰创 投基金管理部总经理董本京接受《华夏时报》记者专访，他从创投视角分析了低碳项目投资的核心痛 点、实操投资决策逻辑，同时解读了"十五五"期间低碳赛道的投资价值边界与机构布局策略。 董本京认为，当前绿色金融的核心痛点是早期低碳项目短期难盈利，资金扎堆成熟资产导致投资效率偏 低。双碳的关键有两条，一是能用绿电的用绿电（电气化），二是不能用电的加绿氢(氢能)，作为能源 基础形式，长远来看绿电和绿氢必须走向平价化。目前，中国的绿电已经进入平价阶段了，但绿氢还存 在制氢成本高、行业发展逻辑错位等问题，需要刚性市场政策与技术突破双重支持。 投资布局上，他提出创投要以长期回报为核心，聚焦高增长、高壁垒赛道，布局既能中期兑现、又契合 2050年绿色能源长期趋势的领域。 《华夏时报》：从创投视角看，绿色金融在服务早期低碳项目时，最大痛点是什么？ 绿色转型是国家必须推动的方向，而能源作为基础产业，长期趋势一定是平价化、普惠化。 从能源角度，实现双碳目标主要有两条路径，能电 ...

作为黑龙江省规模最大的地方法人金融机构，哈尔滨银行始终坚守本土本源，将自身经营发展融入地方 经济社会大局，坚定走"高质量、可持续"发展道路，在绿色金融领域持续深耕、不断创新。此前，该行 已先后落地哈尔滨地区首笔"碳排放+碳信用"联动挂钩贷款、黑龙江省首笔"龙江绿碳"质押贷款项目放 款、黑龙江省首笔商业银行"历史遗留废弃矿山生态修复"项目贷款以及黑龙江省首笔生物多样性可持续 发展挂钩贷款等多个创新绿色金融项目，以金融创新持续赋能区域绿色发展。截至2025年末，该行在黑 龙江地区的贷款余额达2349亿元，为地方经济社会发展注入了强劲的金融动力。 本次"节水贷"的落地，是哈尔滨银行积极响应黑龙江省水利厅与中国人民银行黑龙江省分行《关于开 展"节水贷"融资服务工作的通知》要求，深化政银企合作，以绿色金融精准赋能节水产业发展的重要实 践。在哈尔滨市水务局、中国人民银行黑龙江省分行的悉心指导和大力支持下，哈尔滨银行依托总分支 三级联动机制，为哈尔滨供水集团量身定制专属融资方案。该笔贷款不仅专项用于企业采购高效节水型 阀门、智能节水水表、防渗漏管道配件等各类优质节水材料，还将为企业日常流动资金周转提供资金支 持，实现了金融 ...

1. Report Industry Investment Rating - No information provided about the industry investment rating 2. Core Viewpoints of the Report - In 2025, the issuance scale of green ABS products declined, with the structure of underlying asset types adjusted. Green financial leasing ABS rose to the top in issuance scale. Green REITs, renewable energy price subsidy ABS, and new - energy vehicle loan ABS still dominated the issuance, while new underlying assets like held real estate and consumer finance loans were added [5][35]. - Multiple departments coordinated to deepen the financial supply - side reform, continuously improving the green finance standard system and basic institutions, and promoting the high - quality development of green finance. The green ABS market is moving towards higher - quality and diversified development [5][30][35]. 3. Summary by Relevant Catalogs 3.1 Issuance - In 2025, 136 green ABS products were issued in China, a 7.48% year - on - year decrease, with a total issuance scale of 185.326 billion yuan, a 16.59% year - on - year decline. Green enterprise ABS, green ABN, and green credit ABS accounted for 50.72%, 38.01%, and 11.27% respectively [5][6]. - By underlying asset types, green financial leasing ABS ranked first with an issuance scale of 58.484 billion yuan (31.56% of the total). Green REITs, renewable energy price subsidy ABS, and new - energy vehicle loan ABS decreased but remained major issuers. Held real estate and consumer finance loans expanded the types of green underlying assets [5][14]. - In 2025, 53 carbon - neutral ABS products were issued, with a scale of 70.393 billion yuan, a 32.02% year - on - year decline, accounting for 37.98% of green ABS [5]. 3.2 Issuance Interest Rate - The issuance spread of green ABS products showed a narrowing trend. In 2025, the average spreads of AAAsf - rated green credit ABS, ABN, and enterprise ABS products to the benchmark rate were 16BP, 46BP, and 64BP respectively. The spread of green credit ABS was significantly lower than other credit ABS, while the difference between green ABN/enterprise ABS and non - green ABS was small [5][26]. 3.3 Policy - In 2025, multiple departments issued policies to deepen the financial supply - side reform, improve the green finance standard system, and promote the development of green asset securitization. Key policies included those from the China Securities Regulatory Commission, the National Administration of Financial Regulation and the People's Bank of China, etc [30][31]. 3.4 Conclusion - In 2025, the green ABS market saw a decline in issuance scale and an adjustment of underlying asset types. With policy support, the market is moving towards high - quality and diversified development. Emerging fields such as green consumer credit, carbon sink revenue rights, and held real estate may become new growth drivers [35]. 3.5 Schedule - The schedule lists the detailed issuance information of green asset - backed securitization products in 2025, including green credit ABS, green ABN, and green enterprise ABS [37][38][39].

Group 1 - Nanjing Bank Jiangbei New District Branch aims to support the real economy by aligning financial resources with regional industrial development needs, enhancing support for实体企业, and injecting financial vitality into industrial transformation and upgrading [1] - The bank successfully provided 7 million yuan in credit support to a technology company specializing in power automation, alleviating operational funding pressure and aiding in production scale expansion and market competitiveness [1] - The technology company has leading R&D capabilities and its products are widely used in critical public facilities, maintaining stable order growth despite facing significant funding pressures for production expansion and equipment upgrades [1] Group 2 - The credit issuance reflects Nanjing Bank Jiangbei New District Branch's commitment to green finance and empowering manufacturing upgrades, responding to the requirements of the green finance innovation reform pilot zone [2] - The bank is focused on directing financial resources towards green, low-carbon, and high-end manufacturing sectors, facilitating enterprises in achieving green development and intelligent manufacturing upgrades [2] - Moving forward, the bank will continue to leverage regional advantages, concentrate on advantageous industries and strategic emerging sectors, and enhance its product system and service models to provide precise, efficient, and high-quality financial support for regional economic development [2]

2026年02月13日 国泰君安期货商品研究晨报-绿色金融与新能源 观点与策略 不锈钢：二月检修减产频出，成本支撑重心上移 张再宇 投资咨询从业资格号：Z0021479 zhangzaiyu@gtht.com | 镍：印尼与菲律宾消息博弈，镍价宽幅震荡 | 2 | | --- | --- | | 不锈钢：二月检修减产频出，成本支撑重心上移 | 2 | | 碳酸锂：周度库存去库，关注节前资金行为 | 4 | | 工业硅：关注下方空间 | 6 | | 多晶硅：关注节后现货成交情况 | 6 | 国 泰 君 安 期 货 研 究 所 请务必阅读正文之后的免责条款部分 1 期货研究 商 品 研 究 2026 年 2 月 13 日 镍：印尼与菲律宾消息博弈，镍价宽幅震荡 【基本面跟踪】 镍基本面数据 | | | 指标名称 | T | T-1 | T-5 | T-10 | T-22 | T-66 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 沪镍主力（收盘价） | 139,610 | 250 | 5,180 | -7,860 | 1,160 | ...

Group 1 - The core initiative involves the implementation of supply chain financial services by Guangfa Bank Wenzhou Branch, targeting green industries such as clean energy and environmental protection, specifically supporting the leading solar equipment company, Zhejiang Zhengtai Aneng Digital Energy Co., Ltd. [1] - Guangfa Bank has tailored a "Baofutong" supply chain financing service for Zhengtai Aneng, providing a total of 300 million yuan in specialized support, focusing on accounts receivable transfer as the core mechanism [1] - The financing project has successfully provided 141 million yuan in total loans to 16 upstream suppliers, significantly alleviating the financing pressure on small and micro enterprises within the green industry chain [1] Group 2 - Guangfa Bank's actions reflect a commitment to green finance and the ESG (Environmental, Social, and Governance) principles, prioritizing support for core enterprises in the clean energy sector and their ecosystems [2] - The bank aims to enhance support for low-carbon transition projects and reduce financing costs and risks across the entire green supply chain through the credit of core enterprises [2] - Future plans include further innovation in green financial products, focusing on clean energy and circular economy sectors, to provide differentiated and comprehensive financial services to transitioning enterprises [2]

（来源：湖州日报） 转自：湖州日报 在浙江凯色丽科技发展有限公司，财务负责人谈起去年底的一笔融资时，用了"及时"二字。公司计划进 行生产设备节能改造，但部分资金需求与传统信贷产品不匹配。交通银行湖州分行在走访中了解到这一 情况后，结合绿色金融创新试点政策，成功为其办理了全市首笔绿色外债登记业务，引入150万美元资 金专项用于改造。"利率合适，手续顺畅，项目进度比预期快了不少。"该负责人表示。这笔"破冰"的业 务，成为湖州金融系统探索多样化融资服务、精准响应企业需求的一个生动注脚。 市绿色金融发展服务中心工作人员介绍，增速的背后是机制的协同与服务的靠前。"我们和行业主管部 门联动更紧密了，项目信息共享更及时，让银行能早介入、早研判。"他提到，围绕重大项目清单，金 融机构得以提前设计融资方案；而对于暂时遇到困难的企业，则通过"一企一策"进行针对性帮扶，努力 缓解企业经营压力。 在滋养实体经济的同时，金融风险的"防火墙"也在同步加固。据了解，湖州已连续46个月保持全省最优 的信贷资产质量。 "迈入2026年，湖州金融系统将围绕深化'金融生态最优市'建设这一主线，以打造全国绿色金融能力建 设基地为载体，实施金融服务赋 ...

Core Insights - Sunshine Insurance is actively engaging in capital operations, compliance dynamics, and strategic layout adjustments [2] Recent Events - The company announced that its subsidiaries, Sunshine Life and Sunshine Asset Management, plan to increase capital to Sunshine Asset Management (Hong Kong) by a total of up to 1 billion HKD to support global asset allocation [3] Regulatory Situation - In early 2026, Sunshine Property Insurance faced regulatory penalties due to violations by its branches, which included fines and adjustments in executive positions. Additionally, Sunshine Life has incurred a total penalty amount of nearly 6 million CNY [4] Strategic Advancement - With the commencement of the national "14th Five-Year Plan" in 2026, the company aims to deepen its focus on green finance and technological innovation [5]

Core Viewpoint - The company emphasizes its commitment to sustainable development and green finance, positioning itself as a key player in promoting industrial upgrades and green transformation in alignment with national carbon neutrality goals [2][4]. Group 1: Green Finance Initiatives - The company actively integrates green finance into its business model, focusing on sectors such as hydropower, wind power, and water conservancy to support national strategies [4][6]. - In hydropower, the company has provided tailored financial solutions for significant projects like the Zala Hydropower Station, which is expected to generate 3.946 billion kWh annually, saving 1.3 million tons of standard coal each year [6]. - The company has also supported the photovoltaic sector by addressing funding shortages for projects like the Golmud A Photovoltaic Power Station, facilitating capacity expansion and stable green energy output [6][7]. Group 2: Infrastructure and Vehicle Financing - The company has innovated financing models for urban infrastructure, aiding a leading charging operator in optimizing asset utilization and enhancing operational scale [7]. - In the commercial vehicle sector, the company has developed financing products for electric light trucks and heavy-duty vehicles, promoting the replacement of high-pollution vehicles and supporting the logistics industry's green transition [7]. Group 3: Innovative Financial Tools - The company has launched various green financing products, including green medium-term notes and asset-backed special plans, to channel funds into the renewable energy sector [8]. - In 2025, the company received multiple awards for its excellence in green finance, highlighting its innovative practices and contributions to the industry [8]. Group 4: Social Responsibility and Community Engagement - The company has initiated the "Golden Sunshine Road" project, providing distributed photovoltaic power stations to remote schools, benefiting over 2,700 children by improving their learning environments [12][13]. - The "Golden Brick Dream" project focuses on enhancing rural education infrastructure, having built new facilities for over 5,000 students across various regions [15]. - The company aims to balance industrial upgrades with social responsibility, continuing to innovate in green finance and community support initiatives [15].