Group 1 - The core viewpoint of the article highlights the acceleration of financing activities among leading online micro-lending institutions following the introduction of new regulations and favorable consumption policies [1][2][3] - The new regulations allow micro-lending companies to finance through standardized forms such as bond issuance and asset-backed securities (ABS) [1][4] - The article provides a summary of the financing activities of eight leading online micro-lending companies, focusing on ABS and asset-backed notes (ABN) as financing methods [3][6] Group 2 - As of July 31, 2025, there are 12 online micro-lending companies with registered capital exceeding 5 billion RMB, with ByteDance's Zhongrong Micro-lending leading at 19 billion RMB [4] - The financing situation of leading micro-lending companies from January to July 2025 shows a total issuance of 647.4 billion RMB across 68 projects, with four companies exceeding 10 billion RMB in financing [7][10] - The financing tools used by these companies vary, with some preferring ABN while others focus on ABS, indicating different strategic approaches [6][9] Group 3 - The financing interest rates for micro-lending have decreased, with rates below 2.5% becoming common in 2025, and some companies achieving rates as low as 1.7% [11][13] - The article notes three trends in the micro-lending financing market: accelerated financing processes, new players entering the market, and existing players restarting projects [13][14] - As of June 2025, there are 4,974 micro-lending companies in China, with a total loan balance of 736.1 billion RMB, indicating a trend of consolidation in the industry [15]