Group 1 - China Pingmei Shenma Group is accelerating its capitalization efforts, aiming to establish an overseas financing platform to support its international expansion strategy [1] - The company plans to increase the number of its listed companies from the current 4 to 6 or 7 by the end of the current party committee's term in 2028 [1] - Currently, the group has 4 listed companies, including Pingmei Co. (601666.SH), Shenma Co. (600810.SH), Yicheng New Energy (300080.SZ), and Silane Technology (838402.BJ) [1] Group 2 - As of the end of 2024, the group has 6 companies listed on the New Third Board, including Tiangong Technology (833716.NQ), Shenma Huawei (836171.NQ), Kuangyi Co. (837523.NQ), and Tianceng Environmental Protection (837146.NQ) [1]

中国平煤神马集团正在加速资本化的步伐。据上海证券报，中国平煤神马集团党委书记、董事长李毛透 露，集团正积极推进资产证券化，旨在建立集团在海外的融资平台，支持公司出海战略。其中，河南平 煤神马超硬材料股份有限公司，已启动香港上市程序，预计最快于2026年9月完成上市；平煤股份 (601666.SH)、神马股份(600810.SH)计划赴港上市，完成"A+H"布局。 此外，截至2024年末，平煤神马集团拥有6家新三板挂牌企业，分别为天工科技(833716.NQ)、神马华威 (836171.NQ)、矿益股份(837523.NQ)、天成环保(837146.NQ)等。 本文源自：智通财经网 据悉，平煤神马集团目前旗下有4家上市公司，分别是沪深交易所上市的平煤股份(601666.SH)、神马股 份(600810.SH)、易成新能(300080.SZ)，以及北交所上市的硅烷科技(838402.BJ)。 李毛表示，集团期望在本届党委任期届满时(2028年前)，能把旗下的上市公司数量从目前的4家，扩展 到6到7家。 ...

Core Viewpoint - China Pingmei Shenma Group is accelerating its capitalization efforts, aiming to establish an overseas financing platform to support its international expansion strategy [1] Group and Company Summary - The group is actively promoting asset securitization, with Henan Pingmei Shenma Superhard Materials Co., Ltd. having initiated the Hong Kong listing process, expected to complete by September 2026 at the earliest [1] - Pingmei Shenma Group plans to expand the number of its listed companies from the current four to six or seven by the end of the current party committee's term in 2028 [1] - Currently, the group has four listed companies: Pingmei Co., Ltd. (601666.SH), Shenma Co., Ltd. (600810.SH), Yicheng New Energy (300080.SZ), and Silane Technology (838402.BJ) listed on the Beijing Stock Exchange [1] - As of the end of 2024, the group has six companies listed on the New Third Board, including Tiangong Technology (833716.NQ), Shenma Huawei (836171.NQ), Kuangyi Co., Ltd. (837523.NQ), and Tianceng Environmental Protection (837146.NQ) [1]

Group 1 - China Pingmei Shenma Group is accelerating its capitalization efforts, aiming to establish an overseas financing platform to support its international expansion strategy [1] - The company plans to advance asset securitization, with Henan Pingmei Shenma Superhard Materials Co., Ltd. initiating the Hong Kong listing process, expected to complete by September 2026 at the earliest [1] - The group aims to increase the number of its listed companies from the current four to six or seven by the end of the current party committee's term in 2028 [1] Group 2 - Currently, the group has four listed companies: Pingmei Co., Ltd. (601666.SH), Shenma Co., Ltd. (600810.SH), Yicheng New Energy (300080.SZ), and Silane Technology (838402.BJ) listed on the Beijing Stock Exchange [1] - By the end of 2024, the group will have six companies listed on the New Third Board, including Tiangong Technology (833716.NQ), Shenma Huawei (836171.NQ), Kuangyi Co., Ltd. (837523.NQ), and Tianceng Environmental Protection (837146.NQ) [1]

Group 1 - The core investment logic of the military industry includes budget stability, equipment upgrades, asset securitization, reform and innovation, and long-term investment, with excess returns often stemming from geopolitical events causing market fluctuations [1] - The growth of the military industry is closely linked to national military budgets, with the replacement of outdated equipment and the development of new equipment being key drivers of growth [1] - The acceleration of military asset securitization and the injection of state-owned enterprise assets into listed companies have effectively enhanced the profitability of listed companies, leading to a potential dual increase in profitability and valuation for the sector [1] Group 2 - The military sector is expected to maintain a relatively optimistic outlook, with a comparative advantage in the A-share market, as it is in the early stages of innovation acceleration during the "14th Five-Year Plan" [2] - The military sector's fundamentals are at the first year of a turning point, with a high certainty of continued improvement over the next two years, and core targets are expected to see valuation digestion from 2025 to 2027 [2] - The low base from the mid-cycle adjustment in the "Five-Year Cycle" and the demand for early stocking for the next "Five-Year Plan" contribute to high profit recovery expectations for the sector [2]

Core Viewpoint - China Pingmei Shenma Group is actively promoting asset securitization to establish an overseas financing platform to support its international expansion strategy [1] Group and Company Summary - Henan Pingmei Shenma Superhard Materials Co., Ltd. has initiated the Hong Kong listing process, expected to complete by September 2026 at the earliest [1] - Pingmei and Shenma plan to list in Hong Kong to achieve an "A+H" layout [1] - The group aims to have 6 to 7 listed companies by the end of the current party committee's term (by 2028) [1] - Currently, Pingmei Shenma Group has 4 listed companies: Pingmei Co., Shenma Co., Yicheng New Energy, and Silane Technology listed on the Beijing Stock Exchange [1] - By the end of 2024, the group will have 6 companies listed on the New Third Board, including Tiangong Technology, Shenma Huawei, Kunyiyuan, and Tianceng Environmental Protection [1] - The group is accelerating the process of asset capitalization and securitization through its subsidiaries, forming a tiered advancement pattern of "cultivating a batch, reserving a batch, and listing a batch" [1]

转自：新华财经 近日，人民银行重庆市分行推动发行重庆市首单公租房商业地产抵押贷款支持票据"重庆发展置业管理 有限公司2025年度第一期定向资产支持票据"，发行总规模5.2亿元，期限20年。 重庆农村商业银行以及中国建设银行、上海浦东发展银行、中信银行、华夏银行、兴业银行、中国民生 银行等多家金融机构积极参与认购，票面利率1.85%，创下国内同类产品新低。 票据发行以市级公租房配套商业设施为基础资产，借助证券化工具激活沉淀资产价值，突破传统融资模 式限制，构建存量资源与新增投资间的循环机制。 下一步，人民银行重庆市分行将继续协同各银行机构积极推动更多资产证券化项目落地，以创新金融工 具助力盘活国有资产，释放资产价值，为重庆市经济高质量发展贡献力量。（肖瑜媛） 编辑：穆皓 自重庆"三攻坚一盘活"改革（国企改革、园区开发区改革、政企分离改革攻坚，有效盘活国有资产）启 动后，重庆市属国企全面开展"止损、瘦身、提质、增效"攻坚行动。 针对重庆发展置业管理有限公司公租房商业资产盘活需求，人民银行重庆市分行积极协调中信银行重庆 分行、银行间市场交易商协会研究资产盘活工作方案，推动重庆市首单公租房商业地产抵押贷款支持票 据" ...

Core Viewpoint - Xiangjiang Group has achieved breakthroughs in innovative financing models and revitalizing existing assets, particularly through the establishment of the "CICC - Xiangjiang Group Rental Housing Asset Support Special Plan" (similar to REITs), which has garnered significant attention from various media outlets [1] Group 1: Financing Innovations - The successful establishment of the asset support plan has been widely reported by mainstream media and industry experts, highlighting Xiangjiang Group's exploration in asset securitization [1] - Since 2018, Xiangjiang Group has built a comprehensive and multi-layered industrial financial service system, establishing 45 funds with a total scale of 46.7 billion yuan [21] - The group has successfully issued various innovative financing projects, including the first CMBS in Hunan Province and the first REITs project for state-owned enterprises, significantly broadening financing channels [25] Group 2: Economic Impact - Xiangjiang Group's financial support has enabled the growth of technology companies like Hunan Huisi Optoelectronics, which received 30 million yuan to overcome funding bottlenecks and expand production capacity [19] - The group has effectively driven social capital exceeding 30 billion yuan through various funds, fostering dozens of technology enterprises and strengthening key industrial chains in Changsha [21] - The total assets of Xiangjiang Group have doubled in less than six years, with revenue and profit increasing more than fivefold, reaching over 127 billion yuan by the end of 2024 [28] Group 3: Risk Management and Credit Ratings - Xiangjiang Group has maintained a strong credit rating matrix, achieving a domestic AAA rating and international investment-grade ratings from major agencies, which supports its market-based financing efforts [22] - The group has implemented a dual-driven model of market-based financing and policy-based funding, optimizing its financing structure and reducing costs significantly since 2018 [26]

Core Viewpoint - Inner Mongolia Power Group is actively pursuing asset securitization and plans to list its core business, focusing on capital market operations and green finance to support the development of the energy sector [1][2]. Group 1: Company Overview - Inner Mongolia Power Group is the third major power grid in China, following the State Grid and Southern Power Grid, and is seeking to enhance its capital structure through asset securitization [1]. - The company was established in 2002 during the restructuring of the national power sector, which led to the formation of two major grid companies and several power generation groups [2]. Group 2: Financial Performance - As of the end of 2024, Inner Mongolia Power Group reported total assets of 1,472 billion yuan and net assets of 595.40 billion yuan, with an operating income of 1,218.06 billion yuan and a total profit of 45.17 billion yuan [3]. - The company achieved a total electricity sales volume of 3,140.38 billion kWh in 2024, with a maximum supply load exceeding 48.87 million kW [4]. Group 3: Renewable Energy Initiatives - In the first half of 2024, the company's renewable energy generation (wind and solar) reached 731 billion kWh, marking a 41% year-on-year increase, positioning it second among provincial power grids in China [4]. - The company is focusing on the development of its energy storage and information technology sectors, with plans for independent listings of these business units [5]. Group 4: Capital Market Engagement - Inner Mongolia Power Group is engaging with both the Shanghai and Shenzhen Stock Exchanges to explore various capital market opportunities, including green bonds and public REITs [1][2]. - The company plans to issue up to 3 billion yuan in corporate bonds in 2025 to support debt repayment and renewable energy project development [5].

Group 1 - The company held its 36th meeting of the 9th Board of Directors on August 12, 2025, with all 9 directors present and voting [2][4] - The board approved a capital increase of 30 million RMB to its wholly-owned subsidiary, Xugong Marketing Co., Ltd., to enhance after-market capabilities and respond to diversified customer needs [3][4] - The board also approved a proposal to apply for an asset securitization project, which will require further approval from the shareholders' meeting [4][10] Group 2 - The company plans to issue asset-backed notes with a total amount not exceeding 10 billion RMB, which includes 5 billion RMB for the Shenzhen Stock Exchange market and 5 billion RMB for the interbank market [9][10] - The issuance aims to revitalize existing assets, accelerate cash flow, and optimize the company's debt structure [9][25] - The asset-backed notes will be based on accounts receivable and related collateral, with the issuance period not exceeding 5 years [15][16][25] Group 3 - The company will seek to utilize the interbank market for flexible, low-cost financing options, which will support sustainable business development [25] - The board has proposed to authorize the chairman or designated individuals to manage all matters related to the asset securitization project, including issuance timing and structure [26] - As of July 31, 2025, the company has issued 11 phases of accounts receivable asset-backed notes, indicating ongoing engagement in asset securitization [27]