截至 2025 年 9 月末，上海青投累计业务投放超过 128 亿元 (其中，对长三角地区业务投放近 30 亿元)，累计收入近 22 亿元，累计净利润近 7 亿元。目前在 上海累计纳税超 3 亿元，在支持上海经济发展、帮助中小企业融资、稳就业等方面做出了积极贡献。 "效率成就品牌，诚信铸就未来"，这是上海青投融资租赁有限公司官网上最显著的一句宣传语。李煜宜就来自于这家机构，2017 年加入公司以来，她始终 带着 "将资金高效精准给到需求企业" 的务实思路，带领团队以业务创新破局、以双总部协同增效，在绿色租赁、中小企业服务等领域交出了一份 "数据可 查、企业有感" 的答卷。 上海青投租赁有青岛、上海双总部，李煜宜的核心任务之一，就是把两地的政策、资源 "捏合到一起"—— 青岛有产业基础，上海有金融中心优势，怎么让 这两者互补？她没走 "拍脑袋" 的路子，而是先带着团队把两地的监管政策、融资渠道摸透，再针对性做创新。她牵头做了山东地方国企里首个 "母子公司 联动发行资产支持计划",完成了上海子公司独立发行供应链业务的资产支持计划融资，实现了上海子公司设立时"充分利用上海金融中心优势实现融资多元 化"的初衷。 这些 ...

Core Insights - The trend of A-share companies pursuing dual listings in Hong Kong is becoming a standard configuration for internationalization, with 25 companies announcing plans in September alone [2][38] - The Hong Kong IPO market is experiencing a surge, with 286 new applications received by September 30, more than double the previous year, and a total of 66 new IPOs raising approximately 182.3 billion HKD [3][4] - The regulatory environment is favorable, with the China Securities Regulatory Commission supporting leading enterprises in their Hong Kong listings and the Hong Kong Stock Exchange optimizing the approval process for eligible A-share companies [5][6][7] Group 1: Market Activity - The Hong Kong IPO market is witnessing a significant influx of Chinese companies, with a total fundraising amount of 134.5 billion HKD by the end of August, a nearly sixfold increase compared to the same period in 2024 [3][4] - A-share companies utilizing the "A+H" listing model accounted for 70% of total fundraising in the first half of the year, with 11 companies raising a total of 91.7 billion HKD [3][4] Group 2: Strategic Considerations - The motivations behind A-share companies listing in Hong Kong include not only the expansion of financing channels but also the alignment with favorable policies and the need for global capital reallocation [10] - Companies like Kexing Pharmaceutical and Newnovel have explicitly stated that their Hong Kong listings are part of their strategies to enhance international competitiveness and accelerate global business development [11][13] Group 3: Investor Dynamics - The participation of cornerstone investors in the Hong Kong IPO market has significantly increased, with an average of 5.35 cornerstone investors per listing, compared to 1.37 last year [22] - Local state-owned enterprises are increasingly becoming cornerstone investors, with over 15 local state-owned platforms participating in IPOs this year [25][26] Group 4: Talent and Market Evolution - The changing landscape of market participants is leading to a shift in talent demand, particularly for teams in Hong Kong and AI-focused investment professionals [32] - International investment banks are ramping up their presence in Hong Kong, with major banks increasing their senior management personnel to meet the growing demand in the financial sector [34][36]

Group 1 - The company, Chow Tai Fook (00659), has entered into a subscription agreement for the issuance of bonds totaling HKD 2.218 billion, with a subscription price of 103.00% of the principal amount [1] - Each bond has a face value of HKD 2 million, and bondholders have the right to exchange their bonds for shares, with an initial exchange ratio of 75.29 thousand shares for every HKD 2 million of bond principal [1] - The shares to be exchanged represent approximately 10.0% of the company's issued share capital as of the announcement date, and the company aims to diversify its funding sources and optimize its business portfolio to enhance long-term shareholder value [1] Group 2 - The net proceeds from the bond issuance are expected to be approximately HKD 2.25 billion, with about 50% of the proceeds intended for investment in resilient projects that generate cash flow and have growth potential, aligning with the company's business segments [2]

Group 1 - The company, Chow Tai Fook (00659), has entered into a subscription agreement to issue bonds totaling HKD 2.218 billion, with an issuance price of 103.00% of the principal amount [1] - Each bond has a face value of HKD 2 million, and bondholders have the right to exchange their bonds for shares, with an initial exchange ratio of 75.29 thousand shares for every HKD 2 million of bond principal [1] - The shares available for exchange represent approximately 10.0% of the company's issued share capital as of the announcement date [1] Group 2 - The net proceeds from the bond issuance are expected to be approximately HKD 2.25 billion [2] - The company plans to use about 50% of the net proceeds for investments in resilient projects that generate cash flow and have growth potential, aligning with the company's business segments [2]

Core Viewpoint - Emerging market issuers are entering the euro bond market at the fastest pace in over a decade, driven by strong global demand for non-dollar assets and the need for financing diversification [1][4]. Group 1: Market Trends - As of July 18, emerging market corporations and governments have issued €89 billion in bonds, marking the highest amount for this period since at least 2014 [4]. - Eastern European countries, particularly Poland and Romania, are leading in euro bond issuance, with Poland and Romania together issuing €21 billion [4]. - The euro bond issuance is expected to remain high relative to dollar bonds, despite its smaller share in the total emerging market bond issuance [1][4]. Group 2: Investor Sentiment - Investors are increasingly seeking opportunities outside of dollar-denominated credit, with a preference for euro bonds due to more attractive spreads [5][8]. - Goldman Sachs strategists noted that euro bonds have outperformed their dollar counterparts shortly after issuance, indicating strong market absorption [5]. - The overall demand for emerging market bonds remains robust, driven by the yield advantage over other markets [8]. Group 3: Future Outlook - The trend of euro bond issuance is likely to continue, as investors reassess their strategies in light of potential economic slowdowns in the U.S. and a weakening dollar [5][8]. - Countries like Brazil and Colombia are considering re-entering the euro bond market, reflecting a shift towards euro-denominated financing [8]. - JPMorgan's Weiler emphasized that while the dollar remains the core financing currency for emerging markets, the euro offers significant market depth as an alternative [9].