Core Insights - The 2025 Greater Bay Area Technology and Financial Innovation Development Conference highlighted the critical role of technology finance in China's financial strength and modernization process, emphasizing the need to focus on key areas to overcome development challenges during the 14th Five-Year Plan period [1] Group 1: Achievements in Technology Finance - Over the past five years, technology loans have increased by 30%, exceeding 40 trillion yuan as of mid-2023, with significant growth in long-term loans for the manufacturing sector [1] - The average weighted interest rate for loans has dropped to 2.9%, with over 1 million technology enterprises receiving loan services, and an 80% loan approval rate for "little giant" demonstration enterprises [1] - The capital market has seen increased support, with over 500 technology enterprises listed on the Sci-Tech Innovation Board, accounting for 41% of the total listed companies in Shanghai, and 70% of new listings being technology firms [2] Group 2: Opportunities and Challenges in the 14th Five-Year Plan - Six major opportunities identified include the continuous improvement of policy frameworks, strong financial institution capabilities, increasing market demand driven by self-reliance in technology, advancements in AI and big data for risk assessment, and deepening capital market openness [2] - Three main challenges include insufficient evaluation and identification capabilities for early-stage technology projects, systemic contradictions in venture capital assessments, and slow expansion of venture capital scale with concerns from private capital [2] Group 3: Future Development Directions - Eight key directions for future development include enhancing the role of national commercial banks, focusing on areas not covered by commercial banks, expanding direct financing through equity and bonds, and fostering patient capital [3] - Additional directions involve promoting differentiated allocation of technology finance resources, improving the technology finance service ecosystem, strengthening talent and technology collaboration, and optimizing financial institution management systems [3]

证券代码：002939 证券简称：长城证券 长城证券股份有限公司 2025 年 11 月 20 日投资者关系活动记录表 编号：2025-015 | | 特定对象调研 分析师会议 | | --- | --- | | 投资者关系活动 | 媒体采访 业绩说明会 | | 类别 | 新闻发布会 路演活动 | | | 现场参观 其他（集体接待日活动） | | | 公司董事长 王军 公司副总裁、董事会秘书（代行总裁、财务负责人职责） 周钟山 | | 活动参与人员 | | | | 公司独立董事、审计委员会主任委员 林斌 | | | 公司财务总监 阮惠仙 | | 时 间 | 2025 年 11 月 20 日 15:40-17:00 | | 地 点 | "全景路演"网站（https://rs.p5w.net） | | 形 式 | 网络远程 | | | 1.公司的差异化竞争优势是什么？ | | | 副总裁、董事会秘书（代行总裁、财务负责人职责） 周钟山：尊 | | | 敬的投资者，您好。2023 年中央金融工作会议以来，监管层在支持和 | | | 鼓励证券公司通过并购重组方式实现跨越式发展、做优做强的同时， | | ...

现场，多位普惠金融顾问代表围绕企业路演中提出的疑问与诉求，展开一对一专业答疑解惑，结合"人工智能+"产业特性与企业发展阶段，给出针对性 指导建议。同时，普惠金融顾问代表提醒道，一方面，在企业产品正式上市前需完成业务闭环，要明确产品定位，为市场推广筑牢基础。另一方面，应对回 款账期长问题，企业可通过应收账款质押的方式申请银行信贷资金，缓解压力。 据悉，本届"金洽会"已于9月29日开幕，将于今年年底前开展十余场"园区行"专场活动；线上"金洽会"线上展期至2026年9月，汇聚参展的各类金融机构 和各区相关委办局等，集中展示金融产品、服务政策与园区发展动态。本届"金洽会"将持续开展金融机构与实体企业线上线下对接撮合，增强服务质效，践 行上海金融业服务实体经济的初心。 11月19日，第十九届金洽会"园区行"徐汇漕开发"人工智能+"园区专场活动圆满落幕。本场活动以"金融服务助力'人工智能 +'"为主题，聚焦产业发展与 金融赋能的深度融合，既是徐汇响应上海"五个中心"建设的具体实践，也是深化科创金融联动的重要举措。 记者了解到，本次"园区行"专场融资对接活动，正是徐汇深化"人工智能+"与科创金融融合的进一步实践。作为202 ...

粤港澳大湾区的金融天际线上，即将迎来一对耀眼的AIC"双子星"。 在近日的深圳国际金融大会上，招商银行行长王良透露，旗下金融资产投资公司（AIC）即将开业。南 都湾财社记者进一步获悉，该AIC已确定落子深圳。与此同时，另一家股份行旗下AIC也即将落地广 州。两家股份行AIC相互呼应，标志着大湾区将迎来AIC"双子星"时代。 在专家看来，两家AIC落地大湾区，是基于大湾区与科创金融、股权投资之间高度的战略契合和独特的 禀赋优势。它们将以更具耐心的中长期资本和灵活的综合金融方案，推动大湾区科创金融供给结构深化 升级，显著增强对实体经济的服务深度与韧性。 两家AIC将分别落地广深 近期，AIC动态频传。 11月16日，兴业银行旗下AIC兴银投资在福州揭牌成立并举行签约仪式。至此，我国首家股份行旗下 AIC正式成立。 三天后，在深圳国际金融大会上，招商银行行长王良表示，旗下金融资产投资公司（AIC）近期即将开 业。南都湾财社记者了解到，该AIC将落地深圳。实际上，今年8月份，深圳金融监管局就曾对外表 示，"招商银行AIC获批在深筹建"。 此外，南都湾财社记者还获悉，另一家股份行旗下AIC也将落地广州。 首家股份行AI ...

Core Viewpoint - The implementation of the "Jiaxing City Science and Technology Innovation Financial Promotion Regulations" marks a significant step in addressing the financing challenges faced by science and technology enterprises, establishing a comprehensive financial service system for innovation [1][2]. Legislative Background: Reform Experiment Drives Legal Assurance - Jiaxing's legislative practice in science and technology finance is rooted in national strategic responsibilities, being included in the Yangtze River Delta's financial reform pilot zone [2]. - The regulations were developed through extensive public consultation, including over 20 discussion sessions to gather insights, resulting in a law that reflects both reform and local characteristics [2]. Core Framework: Three-Dimensional Efforts to Break Financing Bottlenecks - The regulations establish a financial service system through three key strategies that align with enterprise needs [3]. Strengthening Government Guidance: Building a Policy Support System - The regulations mandate local governments to incorporate science and technology finance into development plans and establish cross-departmental collaboration mechanisms [4]. - A fund system covering the entire lifecycle of enterprises is created, including a provincial and municipal cooperative science and technology mother fund of 5 billion, accounting for 45.5% of the provincial total [4]. Optimizing Financial Supply: Activating Market Entity Vitality - The regulations support the establishment of specialized branches in banks and departments in insurance institutions to better serve science and technology enterprises [5]. - Over 120 exclusive financial products have been developed, including "data asset loans" with a maximum credit of 30 million based on data resource ownership [5]. Improving Guarantee Mechanisms: Bridging the "Last Mile" of Service - Innovative systems have been introduced, such as a compliance exemption mechanism for venture capital investments and a digital application system for financial services [6]. - A service center for science and technology finance in the Yangtze River Delta has been established, providing listing planning services to 235 enterprises since 2024 [6]. Innovative Highlights: Demonstrating Jiaxing's Unique Institutional Breakthroughs - The regulations establish a collaborative model of "finance + credit + funds + insurance," with loan interest subsidies up to 40% and insurance premium subsidies up to 90% [7]. - A financial commissioner system is implemented to ensure service quality through annual evaluations across ten dimensions [7]. Implementation Results: Financial Support Empowering Innovation Development - As of now, the loan balance for science and technology enterprises in Jiaxing has reached 342.137 billion, with national high-tech enterprises accounting for 15.59% [8]. - A total of 1,188 instances of private equity investment exceeding 126.866 billion have been recorded, demonstrating the regulations' effectiveness in optimizing financial supply [8]. Legislative Significance: Legal Framework Leading to Innovation Ecosystem Upgrade - The introduction of these regulations is a key practice in fulfilling the central government's requirements for enhancing technology finance [9]. - The regulations provide a stable financial environment for local science and technology enterprises and serve as a model for national innovation in the financial sector [9].

11月14日，第二十七届中国国际高新技术成果交易会（高交会）在深圳揭幕。 据主办方消息，本届高交会展出规模达4 0万平方米，吸引全球超1 0 0个国家和地区的5 0 0 0多 家 企 业 及 机 构 参 展 。 其 中 ， 5 0 0 0 余 项 前 沿 科 技 成 果 在 此 集 中 展 示 ， 2 0% 以 上 为 全 球 首 发 首 展，9 0%以上以实物展示。 在 深 圳 国 际 会 展 中 心 1 0 号 馆 ， " 润 创 港 湾 " 四 个 字 格 外 引 人 注 目 —— 这 是 珠 海 华 润 银 行 （ 下 称"华润银行"）于2 0 2 4年推出的科创金融品牌。值得一提的是，这也是该行首次以独立展商 身份亮相高交会。 高交会现场的银行身影 在以" 3E亚洲电子消费"为主题的1 0号馆中，华润银行的展台在一众参展商中尤为瞩目。 笔 者 在 现 场 了 解 到 ， 华 润 银 行 在 独 立 参 展 的 同 时 ， 也 向 会 场 派 驻 了 一 支 专 业 的 科 创 金 融 团 队，与参展企业进行面对面交流，旨在挖掘科技企业的金融及非金融需求，探索定制化合作 路径。 "部分参展企业已经与我 ...

在走访中，一家专注于智慧安防领域的无锡某智能科技有限公司进入江阴农商银行的视野。尽管该公司 技术实力获政府认可，却因"轻资产、缺抵押"的先天属性，在研发投入和市场拓展的关键阶段陷入融资 困境。 面对这一难题，"江银·高新科创服务中心"启动"融智"赋能机制，深入调研企业所处行业，形成专业行 研报告，同时创新运用"科创尽调百分表"，从产业前景、团队实力、研发能力、经营稳健性和营收状况 五大维度，对企业价值与风险进行全景式研判。最终，江阴农商银行基于专业评估结论，为企业投放了 200万元"科技企业贷"，及时满足其生产经营与新品研发的资金需求。 在智慧交通与智能网联汽车的赛道上，江阴某互联科技有限公司虽手握V2X车载域控制器等核心技术与 专利，却因企业轻资产、缺抵押的典型特征和"销售规模尚小"的阶段性困境，遭遇了融资瓶颈。 ■本报记者李美丽 近期，随着"江银·高新科创服务中心"在江阴国家高新技术产业开发区（以下简称"高新区"）落地，江 苏江阴农商银行破解科创企业轻资产、融资难，有了新的解决方案。据了解，"江银·高新科创服务中 心"是江阴农商银行与高新区政府合作打造的科创企业专属服务机构，工作场所、人员团队均由江阴农 ...

金华银行运用再贷款资金，给某科创型纺织企业发放贷款255万元。"这笔资金太及时了，有了这笔资金可以帮助我们突破当前的困局。"该企业负责人在获 得该笔融资之后，对于当下的科技金融服务颇有感触。 这家成立于2004年的纺织企业，以科创为笔，在传统纺织行业的画布上勾勒出属于自己的"技术突围"。该企业负责人表示，设备更新是纺织企业转型升级的 必经之路，企业现在配备了3台高速弹力丝机、200台喷水织机，近两年更新的设备就达到五十余台。 今年，市场对其科创型纺织产品需求旺盛，该企业生产订单激增，企业急需进购化纤丝等生产原料以满足订单，但设备升级占用现金流较大，企业在资金方 面面临一定压力。金华银行得知该企业需求，随即为其量身定制了综合金融服务方案，给予该企业综合授信433万元，其中255万元用于采购生产原料。 近日，在中国人民银行金华市分行的指导下，金华银行成功办理浙江省首笔柜台渠道科创债券质押再贷款业务。 有了资金的助力，该企业迅速完成原料采购，生产线顺利投产。这笔流动资金贷款，不仅是企业扩大生产的"燃料"，更是其持续践行科创战略、在纺织行业 赛道上加速奔跑的"助推器"。 "本次质押债券票面金额1000万元，获取再贷款 ...

Core Insights - The rapid development of "hard technology" in the Guangdong-Hong Kong-Macao Greater Bay Area is also a frontier for exploring technology finance [1] - In October, the Ministry of Industry and Information Technology announced the addition of 675 new "little giant" enterprises in the Greater Bay Area, marking a historical high [2] Group 1: Financial Support for Technology Enterprises - Banks are shifting from traditional asset-based lending to a focus on technological strength and the professional background of actual controllers, alleviating financing difficulties for "light asset" technology companies [3][4] - The collaboration between banks and enterprises is deepening, with banks increasingly proactively connecting with high-quality small and medium-sized technology enterprises [3] - Banks are expanding their services beyond traditional corporate loans to include support for sales expansion, management improvement, digital transformation, and cost reduction [3][8] Group 2: Case Studies of Technology Companies - Shenzhen Zhihui Technology, founded in 2015, has faced challenges in financing due to long cash flow cycles, requiring banks to extend loan terms [4][5] - Jinzhai Times, established in 2009, received nearly 200 million yuan in investment in 2023 and is seeking to attract industrial investors, highlighting the need for banks to understand the unique characteristics of high R&D investment technology companies [7][8] - Beike Biotechnology, a leading company in the stem cell industry, has received the highest credit limit from Huaren Bank, which has supported its R&D and international expansion [9][10] Group 3: The Role of Banks in Supporting Innovation - Huaren Bank's "Run Chuang Port" brand offers a comprehensive financial service system tailored to the needs of technology enterprises, including products for financing, sales expansion, digital transformation, and management improvement [8] - The collaboration between private equity/venture capital and banks is crucial for technology companies, with banks providing essential support for scaling production and supply chain management [11][12] - The deep integration of banks and industries is activating the innovation potential of enterprises and creating a virtuous cycle of "technology-capital-ecosystem" [12]

Core Viewpoint - Qilu Bank's Binzhou Branch is innovating financial services to support the high-quality development of local private enterprises by focusing on green finance, technology innovation finance, and specialized financial products [1][2][4][6]. Green Finance - Under the "dual carbon" goals, Qilu Bank's Binzhou Branch is exploring innovative paths in green finance, creating localized green financial products to support the low-carbon transformation of traditional industries [2]. - By June 2025, the bank's green loan balance reached 1.2 billion yuan, a significant increase of 59% from the beginning of the year, indicating a strong commitment to green financing [3]. - The bank has implemented a sustainable development-linked loan scheme based on hydrogen recovery metrics, establishing a market-driven incentive mechanism that promotes a cycle of emission reduction, cost reduction, and efficiency enhancement [2]. Technology Innovation Finance - Qilu Bank's Binzhou Branch has introduced a "Technology Innovation Finance Marketing Toolkit" to provide tailored financial services for technology enterprises, addressing traditional financing challenges [4]. - The bank has supported over 160 technology enterprises, including five national-level specialized "little giant" companies, by offering flexible and expedited financing solutions [4]. - The bank's efficient service model allows for loan disbursement within one week, helping enterprises save approximately 60,000 yuan annually in financing costs [4]. Specialized Financial Products - The bank has developed a series of inclusive financial products tailored to local industries, such as the "Cookware Loan" for the commercial kitchenware sector, which addresses the unique financing needs of small and micro enterprises [6][7]. - The "Cookware Loan" product enabled a company to expand its production capacity by 40% and create 20 new jobs, demonstrating the effectiveness of the bank's targeted financial solutions [6]. - In the first half of the year, the bank's inclusive financial products saw an increase in deployment of 264 million yuan, showcasing the vitality and effectiveness of its specialized financial offerings [7].