格隆汇12月8日丨国银金租(01606.HK)公告，近日，公司收到《国家金融监督管理总局深圳监管局关于 国银金融租赁股份有限公司修改公司章程的批覆》(深金覆[2025]468号)，据此，深圳金融监管局已于 2025年12月5日核准本次公司章程修订，修订后的公司章程自核准日起生效。 ...

日前，国家金融监督管理总局制定发布《金融租赁公司融资租赁业务管理办法》（下称《办法》），对 金租公司融资租赁业务进行系统性、精细化规范。《办法》共计8章68条，内容贯穿融资租赁业务全流 程，并根据尽职调查、审查审批、合同订立与执行、租后管理、风险管理与内部控制等各业务环节，分 别提出了相应管理要求。 在业内人士看来，更体系化的业务管理办法一方面可以规范融资租赁业务发展、防控风险，另一方面有 利于金租公司加速回归租赁本源，更好发挥产业领域的金融服务模式优势。 直击估值虚高等痛点 对于文件出台背景，金融监管总局有关司局负责人在答记者问时表示，近年来，在监管引领下，金租公 司业务经营模式日趋丰富，专业能力持续提升，服务实体经济质效明显增强。为适应行业发展实际，加 强相关业务的风险管理，有必要制定出台与业务适配性更强的监管制度规定。《办法》的出台，有利于 规范金融租赁公司的经营行为，防控业务风险，提升金融服务水平。 金租公司开展的融资租赁业务可以分为直接租赁业务和售后回租业务，根据国家会计制度规定应当纳入 经营租赁会计科目核算的则为经营性租赁业务。新规根据直接租赁、售后回租、经营性租赁等不同业务 中的风险点，提出了差 ...

格隆汇12月8日丨百应控股(08525.HK)公告，于2025年12月8日(收市后)，公司的间接全资附属公司厦门 百应与乙方订立有关框架安排的融资租赁框架协议，据此，厦门百应已同意向乙方转介的客户提供直接 融资租赁服务，期限为自2025年12月8日起至2027年12月7日。 ...

Group 1 - The core point of the article is that New Power Finance (SH 600318) held its 20th meeting of the 9th Board of Directors on December 8, 2025, to review proposals regarding the revision of certain governance systems [1] - For the fiscal year 2024, the revenue composition of New Power Finance is as follows: financing leasing accounts for 57.66%, microloans for 21.69%, software and information technology services for 9.38%, pawn business for 5.03%, and financing guarantees for 4.59% [1] - As of the time of reporting, the market capitalization of New Power Finance is 4.7 billion yuan [1]

北京商报讯（记者 孟凡霞 周义力）12月8日，河北金融监管局发布《关于刘阳冀银金融租赁股份有限公 司副总裁任职资格的批复》，核准刘阳冀银金融租赁股份有限公司副总裁的任职资格。 ...

格隆汇12月8日丨中联重科(01157.HK)发布公告，关于收购中联重科融资租赁(北京)有限公司注册股本总 共81%的公告，收购事项已获得北京市地方金融管理局的批准，目标公司已于2025年12月5日完成了本 次股权转让的工商变更登记事宜。自完成上述变更登记之后，目标公司成为公司的全资附属公司，其业 绩也将合并入公司的财务报表。 ...

Group 1 - The core conclusion of the report highlights that Yutong Optical (300790.SZ) is the world's largest producer of security lenses, with a stable security business and potential for growth in the automotive optical sector, which may create a second growth curve for the company [1][6] - The company is actively pursuing new optical applications and is pushing for mass production of molding technology, positioning itself in key growth areas to unlock valuation ceilings [1][6] - Revenue projections for Yutong Optical are estimated at 3.41 billion CNY, 4.34 billion CNY, and 5.61 billion CNY for 2025, 2026, and 2027 respectively, with corresponding gross margins of 25.0%, 27.5%, and 27.3% [6] Group 2 - The report indicates that the global market for molded aspheric optical glass lenses is expected to reach 4.366 billion USD in 2024 and is projected to exceed 6.224 billion USD by 2031, indicating significant market potential [7] - Yutong Optical has established itself as a leader in the security lens market, maintaining the largest market share for ten consecutive years, and is expanding into the automotive lens market, which is experiencing increasing demand due to advancements in high-level intelligent driving [8] - The company’s automotive business achieved revenue of 164 million CNY in the first half of 2025, reflecting a year-on-year growth of 37.78%, indicating strong momentum in this segment [8] Group 3 - The issuance of the "Management Measures for Financing Lease Business of Financial Leasing Companies" aims to promote high-quality development in the financial leasing industry, enhancing the role of financial leasing companies in serving the real economy and national strategies [3][17] - The new measures focus on the core functions of financial leasing companies, standardizing operational processes, and enhancing risk management systems to address key risk areas in financing leasing [18][19] - The report recommends leading companies in the financial leasing sector, such as Jiangsu Jinzheng and Far East Horizon, which have stable performance and attractive dividend yields [19] Group 4 - The adjustment of risk factors for insurance companies' equity investments is expected to expand the allocation space for insurance funds, with specific reductions in risk factors for long-term holdings of certain stocks [21][22] - The insurance sector is viewed as a highly growth-oriented direction in the financial industry, with a potential strong cycle for valuation recovery as inflation trends strengthen [21][22] - The report suggests focusing on companies with low stock costs and stable operations, such as China Pacific Insurance and China Life Insurance, which have competitive dividend yields [24]

Core Insights - Jiangsu Asset Management Co., Ltd. has successfully launched the first data asset financing lease business in Wuxi and the first 100% data asset pledge debt ABS in the country, showcasing its innovative breakthroughs in the data asset financing sector [1][2] Group 1: Data Asset Financing Innovations - The company has established a "party member assault team" to tackle the challenges of data asset valuation, addressing issues such as the difficulty in defining and valuing data as a financial asset [1] - The first data asset financing lease business was successfully launched in July 2025, providing low-cost financing support and opening new pathways for data element pledge financing, earning the "2025 Excellence in Business Innovation Award" in the leasing industry [2] - The financing lease model has expanded from Wuxi to multiple locations in Jiangsu province, enhancing the integration of digital economy and real economy [2] Group 2: Collaborative Efforts and Ecosystem Building - Jiangsu Asset has partnered with Jiangsu Credit Re-guarantee Group to develop a collaborative model based on industrial chain party building, issuing the first 100% data asset pledge debt ABS in September 2025, which achieved a new low in issuance rates for data asset securitization [2] - Ongoing collaboration between Jiangsu Asset and Jiangsu Credit Re-guarantee Group has led to multiple research projects and practical cooperation, establishing a normalized cooperation model that supports data asset valuation and securitization [3] - The financial collaboration model based on industrial chain party building is enhancing the synergy effects, providing robust financial support for regional industrial development [3]

Group 1: Non-Banking Financial Institutions - The China Banking and Insurance Regulatory Commission (CBIRC) has lowered the risk factors for long-term holdings of certain stocks, which is expected to encourage insurance funds to increase their equity asset allocation while maintaining solvency constraints [2] - The policy aims to enhance the capital utilization efficiency of high-quality institutions, allowing leading brokerages to accelerate their development in proprietary trading, derivatives, institutional business, and wealth management [2] - The new regulations on financial leasing companies are expected to improve asset quality and risk pricing transparency, benefiting well-governed and clearly defined business leasing institutions [2] Group 2: Macro Economic Insights - The U.S. economy is showing signs of marginal decline, with industrial output and durable goods orders decreasing, while personal disposable income has slightly increased [6] - The European economy remains resilient, with mixed signals from industrial production and retail sales, while inflation rates show slight increases [6] - The Federal Reserve is expected to lower interest rates in December, with a high probability of around 87%, while the European Central Bank is likely to pause rate cuts [8] Group 3: Market Strategy - The Chinese stock market is anticipated to enter a "cross-year offensive" phase, with expectations of policy, liquidity, and fundamental support leading to upward movement in indices [11] - The focus is on sectors such as technology, finance, and consumer goods, with recommendations for stocks in internet, media, and manufacturing industries [14] - The demand for asset management is expected to surge as traditional fixed-income products decline, leading to a shift towards diversified investment strategies [12] Group 4: Energy Sector Insights - The U.S. is facing a clear electricity supply shortage, which is projected to expand by 2030, necessitating a systematic approach to energy solutions, particularly in natural gas and renewable sources [17] - The current energy system in the U.S. is transitioning towards a mix dominated by natural gas and clean energy, with coal playing a backup role [18] - By 2030, renewable sources are expected to contribute significantly to new electricity generation, while coal will serve as a stabilizing force in the energy mix [19]

Core Points - The article discusses the release of the "Management Measures for Financing Lease Business of Financial Leasing Companies" by the National Financial Supervision Administration, focusing on risk prevention and process standardization [3][54][58] Group 1: Risk Prevention and Process Standardization - The measures emphasize comprehensive due diligence, requiring verification of the ownership and value of leased assets, as well as the creditworthiness of lessees and guarantors to ensure business authenticity and risk control [3][54][56] - A valuation management system must be established, detailing assessment processes and methods, ensuring the independence of evaluation departments and personnel to guarantee objective and fair results [3][55][56] - Strict control over asset pricing is mandated, prohibiting "buying high for low value" practices, with direct leasing referencing actual purchase prices or manufacturer guidance, while sale-leaseback transactions should be based on the lessee's asset book value [3][56][57] Group 2: Core Review Framework and Post-Lease Management - A core review framework must be constructed, focusing on the analysis of leased assets and lessees, assessing business feasibility in conjunction with policy and market factors, and generating risk reports [3][56][57] - Post-lease management mechanisms should be improved, combining off-site monitoring and on-site inspections to track the status of leased assets and lessee compliance, establishing a risk warning system [3][56][57] - Asset quality classification must be standardized, following commercial bank standards, and lease receivables should be classified based on expected credit loss principles [3][56][57]