毕竟从冷清到火热，从来不是一蹴而就的事。 文 | 钱钱 编辑 | 阿景 2025年A股IPO市场有点不一样，全年受理企业数量一下子冲到了251家，是2024年的3倍多。 这数字背后，既有市场的热闹，也藏着企业和监管层的小心思。 这么多企业申请，都往哪些板块挤呢？上交所60家，深交所55家，剩下的136家全去了北交所。 北交所一下子成了香饽饽，136家受理企业里占了54%。 这其实不难理解，中小企业融资难是老问题，北交所门槛相对低，自然成了首选。 毕竟能拿到钱，比啥都实在。 受理数量上去了，时间分布却有点奇怪。 全年251家里，6月一个月就占了150家，12月又挤进来46家。 这一前一后两个高峰，可不是巧合。 企业的财务报告都有有效期，12月31日为基准日的话，得在6个月内申报，6月30日为基准日，就得赶在 年末。 企业也不傻，都想踩着时间点申报，既能赶在有效期内，又不用多花功夫更新财报，这算盘打得，隔着 屏幕都听见响了。 行业方面倒是没太多意外，化工、工业机械、半导体这些制造业细分领域最集中。 资本市场本来就该支持实体经济，这些企业能来IPO，说明直接融资的路子走通了。 华润新能源募资245亿，中电建新能源也 ...

一、中小企业融资现状：找对机构是关键 资金是企业运转与扩张的核心要素，但中小企业普遍面临融资困境：审批周期长、额度不足、利率偏 高，严重制约发展节奏。 身边就有案例：一家小型科技公司研发出潜力软件，需资金推广和扩编，却因成立时间短、无抵押物遭 银行拒绝，不少融资机构的苛刻条件和高额费用也让其望而却步。类似情况屡见不鲜。部分企业无奈选 择民间借贷，却要承担高利率和不规范风险；而企业自身财务状况、经营稳定性等，也进一步加剧了融 资难度。 当前融资服务机构数量激增但质量参差不齐，不乏以"低息、高额度"为噱头设置收费陷阱的机构，也有 部分机构缺乏专业能力无法解决实际问题。对中小企业而言，筛选靠谱机构难度大，但一旦选对，就能 为企业发展注入关键动力。 二、靠谱融资服务机构推*荐 （一）厚鑫资本：专注教育赛道的专业融资服务伙伴 推*荐指数：★★★★★ 口碑评分：9.9 分 （二）汇通融信咨询有限公司：短期周转贷能手 推*荐指数：★★★★☆ 口碑评分：9.8 分 汇通融信咨询有限公司在融资服务领域以其独特的优势，成为了众多企业在短期资金周转需求时的可靠 选择。它专注于纯信用短期周转贷，就如同一位专注于短跑项目的运动员，在自 ...

（文章来源：新华财经） 新华财经北京12月25日电 24日，由工业和信息化部中小企业发展促进中心（简称"中心"）主办的"2025 中国中小企业融资论坛"在北京举办。在本次论坛上，由中心牵头建设的中国中小企业服务网推介了"选 址服务板块"、"创新成果首发平台"、"金融增信服务平台"等三个板块。据悉，中心已与浙商证券、北 京基金业协会、人银金融、福石科技等机构建立产融合作创新工作机制生态伙伴关系。 ...

经济日报记者 童政 臧潇 随着西部陆海新通道骨干工程——平陆运河的开工建设，广西贵港市一头通过西江黄金水道连接粤 港澳大湾区，另一头通过平陆运河连接北部湾，形成"双龙出海"的格局，既给内河港增创了新优势，也 带来了发展面貌的新转变。 依托出海通道优势，贵港乘势谋划发展大进大出的产业。近年来，贵港成功引进心连心绿色化工、 植护元创纸业等7个投资超百亿元的项目。投资贵港热潮的兴起不仅仅是因为这里有港口，从投资者的 口碑中记者了解到，这座城市的热情、效率与周到，让他们用真金白银投下信任票。 组团服务 大型产业项目是城市竞争力的核心载体。尤其是对贵港这个相对年轻且产业基础薄弱的地级市而 言，以大型产业项目为龙头构建现代化产业体系尤为迫切。 在贵港经济开发区玉贵园区投资超百亿元的产业项目——植护元创生活用纸全产业链项目，记者看 到一派火热的建设场景：运输车辆穿梭往来，塔吊林立其间，材料运送井然有序。"项目自签约至通过 环评，仅用时9个月。"对于贵港市的服务，广西植护元创纸业有限公司副总经理王世梅由衷点赞。 记者看到，港南区的项目前线行动支部就设在项目部一楼。前线行动支部进驻植护元创项目以来， 先后协调有关部门解决项目施 ...

二、技术落地：全流程提效与风险精准狙击 数据即信用，AI让小微企业的每一笔交易都成为融资的"隐形名片"。AI的核心突破在于将碎片化数据转化为信用资产。传统风控中，中小企业因财务不规 范、抵押物不足被视为"信用白户"；如今，通过分析纳税记录、供应链流水、能耗数据甚至专利数量，AI可构建动态信用画像，让"数据"成为"抵押品"的替 代方案。例如，某银行通过"数据中台"整合多维度信息，为竹制品企业提供基于产业链位置的信用贷款，审批效率提升40%以上。 AI风控不是替代人力，而是让金融活水精准滴灌至最干渴的土壤。AI不仅解决"贷得到"，更实现"贷得快""贷得准"。网商银行的"310模式"（3分钟申请、1 秒放款、0人工干预）背后是AI模型对80%低风险客群的自动识别；"信易贷"平台则通过智能匹配，实现"1分钟响应、7天放款"，大幅压缩传统尽调数周的 周期。此外，AI通过时序建模和图计算技术，可预测企业资金流波动与供应链风险，将不良率控制在更低水平。 当前，全球经济波动与市场竞争加剧让中小企业普遍面临"融资难、融资贵"的生存考验。传统信贷模式依赖抵押物和财务报表，而轻资产、缺数据的小微企 业往往被挡在融资门槛之外。然而， ...

Core Insights - The article highlights the challenges faced by small and medium-sized enterprises (SMEs) in accessing financing, characterized by difficulties in obtaining loans, high costs, and slow processes [1][3] - Yinqiuhui, a financial service brand under Qixiaoman Technology, is positioned as a "breaker" that innovatively addresses these financing challenges for SMEs through efficient and convenient solutions [1][3] Group 1: Financing Challenges - SMEs are constrained by the "three mountains" of financing difficulties: hard to obtain, expensive, and slow [1] - Traditional financial service models are inadequate for the diverse financing needs of SMEs [3] Group 2: Innovative Solutions - Yinqiuhui adopts a "precision drip irrigation" strategy, moving away from traditional broad approaches to provide tailored financing solutions [3] - The service integrates online and offline support, allowing SMEs to access financing without extensive channel searching, enabling "stage adaptation and demand-based financing" [3] Group 3: Ecosystem Approach - Yinqiuhui is not an isolated service but is deeply integrated into a broader ecosystem that includes legal, tax, business education, and asset management services [3] - This ecosystem creates a strong synergy, transforming Yinqiuhui from a mere financing platform into a comprehensive strategic partner for SMEs [3] Group 4: Economic Impact - The healthy development of SMEs is crucial for national economic vitality and employment stability [3] - Yinqiuhui aims to inject financial resources into SMEs, helping them overcome developmental bottlenecks and achieve sustainable growth [3]

Core Insights - The article highlights the efficient service and innovative products of Shanghai Pudong Development Bank (SPDB), particularly the "Puxin Loan" designed for technology-oriented and quality small and medium-sized enterprises [1][2] - The case study illustrates how SPDB's proactive approach and streamlined processes enabled a rapid loan approval and disbursement, addressing the urgent funding needs of a new materials technology company [2] Group 1: Product and Service Features - "Puxin Loan" offers high approval efficiency, flexible limits, and broad applicability, making it a crucial financial product for small and medium enterprises [1][2] - The product leverages financial technology and specialized risk control to create customized financing solutions for diverse operational scenarios [1] Group 2: Case Study and Impact - A new materials technology company based in Beijing, with operations in Heze, faced challenges with traditional loan products due to slow approval processes and complex procedures [2] - SPDB's customer manager proactively engaged with the company, leading to a rapid loan approval process where a 10 million yuan loan was disbursed within three working days [2] - The successful collaboration has led the company to transfer its main settlement and employee payroll services to SPDB, expanding the partnership beyond just credit services [2] Group 3: Future Directions - SPDB plans to continue optimizing service processes and advancing product innovation through the "Puxin Loan" to provide high-quality financial services to more small and medium enterprises [2]

Core Insights - The article highlights the efficient service and innovative products of Shanghai Pudong Development Bank (SPDB), particularly the "Puxin Loan" designed for technology-oriented and quality small and medium-sized enterprises (SMEs) [2][3] - The case study illustrates how SPDB's quick response and tailored financing solutions effectively addressed the urgent liquidity needs of a new materials technology company [2][3] Group 1: Product Features - "Puxin Loan" offers high approval efficiency, flexible limits, and broad applicability, making it a crucial financial product for SMEs [2] - The product leverages financial technology and specialized risk control to create customized financing plans for diverse operational scenarios [2] Group 2: Service Efficiency - The SPDB branch in Heze demonstrated cross-regional service capabilities by establishing a customer manager service team to expedite the loan process [2] - A customer manager traveled nearly 800 kilometers in one day to verify materials, confirm needs, and optimize the financing plan, resulting in a loan disbursement of 10 million yuan within three working days [2] Group 3: Client Relationship Development - The efficient service not only alleviated the company's financial pressure but also built trust, leading to a comprehensive financial partnership beyond just credit cooperation [3] - The company has since moved its main settlement and employee payroll services to SPDB, indicating a deepening of the business relationship [3] Group 4: Future Outlook - SPDB plans to continue optimizing service processes and advancing product innovation through the "Puxin Loan" to provide high-quality financial services to more SMEs [3] - The bank aims to support the high-quality development of the local real economy through these initiatives [3]

Core Insights - The recent government policies aim to alleviate the financing difficulties faced by small and medium-sized enterprises (SMEs) by introducing new financing channels, particularly through supply chain finance, intellectual property (IP) pledge financing, and data asset financing [1][13] - The dual support policy enhances traditional credit support while encouraging innovative financing tools tailored for asset-light technology enterprises, reflecting the government's commitment to SME development [1][13] Group 1: New Financing Methods - Intellectual property pledge financing allows SMEs to use their patents and trademarks as collateral to secure loans, transforming intangible assets into capital [4][13] - Data asset financing enables companies to leverage their data assets, such as customer and operational data, to apply for loans, marking a new financing avenue in the digital economy [6][7] Group 2: Implementation and Case Studies - In 2024, a Shenzhen-based AI company successfully secured millions in loans through IP pledge financing, demonstrating the effectiveness of this method in providing critical funding for technology advancement [4] - Cities like Changsha, Wuhan, and Shenzhen have reported successful cases of data asset pledge financing, showcasing the potential of this financing method [7] Group 3: Considerations for Enterprises - Companies must be aware of the complexities involved in IP pledge financing, including the need for timely payment of annual fees and proper registration of similar trademarks [9] - For data asset financing, accurate data valuation and rights confirmation are crucial, often requiring third-party services for precise assessment [9] Group 4: Role of Professional Service Institutions - Professional service institutions play a vital role in assisting SMEs with the complexities of IP pledge and data asset financing, offering comprehensive services from evaluation to risk management [11][13] - Companies like Zhongju Qifu provide integrated services that align with national policy directions, helping SMEs navigate financing processes and optimize supply chain structures [11]

Core Viewpoint - The collaboration between Wuxi High-tech Zone and Guolian Minsheng Securities aims to provide comprehensive financial support for small and medium-sized enterprises (SMEs), particularly in the technology and aerospace sectors, addressing their unique financing challenges and tax compliance issues [1]. Group 1: Financing Support for SMEs - The "Investment-Loan Linkage + Inclusive Finance" service is designed to support SMEs with light assets and lack of collateral, offering a full range of support from equity financing to loan guarantees [1]. - A "green channel" for approval is available for enterprises with good tax credit ratings, facilitating easier access to financing [1]. Group 2: Tax Compliance Challenges - The "Tax-Bank Interaction" model links tax credit ratings directly to financing limits, with many SMEs struggling to maintain their credit ratings due to tax compliance issues [3]. - A specific case highlighted that a small aerospace parts company saw its loan limit drop from 2 million to 800,000 due to previous overdue VAT filings, resulting in a credit rating downgrade [3]. Group 3: R&D Subsidy and Tax Overpayment - SMEs often misclassify R&D subsidies, leading to unnecessary tax payments; for instance, a company that received 1.5 million yuan in R&D subsidies incorrectly classified it as taxable income, resulting in an overpayment of 375,000 yuan [4]. - Common errors in R&D expense accounting can lead to tax adjustments and affect financing assessments, as seen in a case where a company was required to adjust three years of tax due to improper expense categorization [4]. Group 4: Equity Financing and Tax Risks - Equity financing from Guolian Minsheng Securities is crucial for startups, but tax issues related to equity changes are often overlooked [5]. - A startup that awarded 20% equity to key personnel failed to withhold individual income tax, leading to penalties during subsequent listing preparations [5]. Group 5: Tools for Financial Management - SMEs face challenges in managing tax compliance due to limited financial personnel; digital tools like the "Zhiliaowenzhang" tax risk detection report can help identify common issues [6]. - These tools can check tax credit records, ensure compliance with R&D subsidy accounting, and clarify individual income tax obligations related to equity changes [6].