本次合作是双方在债券融资领域的首次成功实践，为未来长期战略协作奠定了坚实 基础。申万宏源证券期待以此为契机，持续为华夏金租提供全方位、高质量的金融服 务，共同构建稳固、互信的长期合作伙伴关系。 免责声明 本内容最终解释权归申万宏源证券有限公司所有。 近日，由申万宏源证券担任主承销商的华夏金融租赁有限公司 2025 年金融债券 （第二期）成功完成发行。本期债券发行规模 45 亿元，期限 3 年，主体评级 AAA ， 最终票面利率 1.84% ，创下发行人历史最低发行成本纪录。 华夏金融租赁有限公司（简称 " 华夏金租 " ）成立于 2013 年 4 月 28 日，是经 原中国银行保险监督管理委员会批准设立的全国性金融租赁公司。公司注册资本 100 亿元，业务覆盖环保、能源、电力、交通运输、装备制造、医疗、通讯、采矿、航空航 运等多个领域，致力于为高端装备制造业和中小企业机械设备提供专业化融资租赁服 务。截至 2024 年末，公司总资产近 1900 亿元，保持平稳增长态势，盈利能力稳步 提升，资产结构持续优化， ROA 、 ROE 、成本收入比等关键经营指标均优于行业平 均水平。 ...

特色之一，新场景是亮点。 《中国金融租赁行业发展报告(2025)》指出，金融租赁公司通过创新金融产品和服务，拓展储能设备、 智算中心、低空飞行器等新业务领域，丰富了金融租赁公司的业务方向，为实体经济的转型升级和创新 发展提供了有力的金融支撑。 在场景端，金融租赁公司落地的项目，透露出哪些发展风向？ 从设备更新到产线升级，从产能扩张到成果转化，从资金支持到生态赋能，融资租赁正通过"融资+融 物"的独特优势，为产业焕新、企业转型提供重要支撑。 科技是产业升级的核心引擎，更是新质生产力培育的关键支撑。党的二十届四中全会提出"加快高水平 科技自立自强，引领发展新质生产力"。 "融资+融物"之桥铺就科创通途。紧抓新一轮科技革命和产业变革机遇，以大力发展金融"五篇大文 章"为引领，融资租赁业科技金融业务实现稳步增长。具体而言，融资租赁行业科技金融业务呈现三大 特色。 政策引导与市场协同下的行业生态共建已迈出重要一步。不久前，由行业协会、商业银行、新质生产力 企业以及多家金融租赁公司共同成立的"融资租赁新质产融生态联盟"，就是其中的一次标志性探索。 据悉，该联盟将聚焦集成电路、生物医药、人工智能、高端制造和新能源等新质生产 ...

Group 1 - The latest data from the Hong Kong Stock Exchange shows that on December 2, shareholders of China Financial Leasing (02312) deposited shares into DBS Bank, with a market value of HKD 87.4182 million, accounting for 16.67% [1] - China Financial Leasing announced that as of October 31, 2025, the group's unaudited net asset value per share is approximately HKD 0.41, based on the issuance of 416 million ordinary shares [1] - The company's executive director, Mr. Lu Zhuoheng, has submitted his resignation from the position of executive director and investment committee member to focus on other business developments, effective November 20, 2025 [1]

智通财经APP获悉，香港联交所最新资料显示，12月2日，中国金融租赁(02312)股东将股票存入星展银 行，存仓市值8741.82万港元，占比16.67%。 中国金融租赁发布公告，截至2025年10月31日，集团未经审核每股资产净值约为0.41港元，乃基于已发 行4.16亿股普通股计算。 公司执行董事吕卓恒先生已提呈，辞任公司执行董事及投资委员会成员职务，以专注于彼之其他事业发 展，辞任于2025年11月20日生效。 ...

Core Viewpoint - Industrial Holdings (00132.HK) announced a financing lease agreement with a lessee, involving an asset acquisition for RMB 30 million, which will be leased back to the lessee for a period of seven years [1] Group 1 - The financing lease agreement was established on December 2, 2025 [1] - The total cost of the asset acquisition is RMB 30 million [1] - The leaseback arrangement allows the lessee to use and occupy the asset [1]

Core Viewpoint - Yuexiu Capital (000987.SZ) plans to issue bonds and securities totaling up to 35 billion yuan to expand financing channels, optimize financing structure, and reduce financing costs [1] Group 1: Bond Issuance Plans - The company intends to publicly issue no more than 7 billion yuan (including 7 billion yuan) in corporate bonds [1] - The company plans to publicly issue no more than 6 billion yuan (including 6 billion yuan) in medium-term notes [1] - Guangzhou Yuexiu Capital Holding Group Co., Ltd. plans to publicly issue no more than 2 billion yuan (including 2 billion yuan) in corporate bonds [1] - Guangzhou Yuexiu Financing Leasing Co., Ltd. plans to publicly issue no more than 3 billion yuan (including 3 billion yuan) in corporate bonds and no more than 4 billion yuan (including 4 billion yuan) in medium-term notes [1] - Shanghai Yuexiu Financing Leasing Co., Ltd. plans to publicly issue no more than 1 billion yuan (including 1 billion yuan) in medium-term notes [1] - Guangzhou Asset Management Co., Ltd. plans to publicly issue no more than 2 billion yuan (including 2 billion yuan) in perpetual notes [1] Group 2: Total Issuance Scale - The total scale of bonds and asset securitization products to be issued by the company and its subsidiaries is capped at no more than 35 billion yuan (including 35 billion yuan) [1]

此前，西藏金租已被吊销金融许可证。金融监管总局网站4月29日披露的行政处罚信息显示，因通过编 造虚假业务等方式隐匿关联交易、部分租赁业务经营严重不审慎形成风险、报送虚假报表资料、公司治 理和内部控制失效等，严重违反审慎经营规则等，西藏金租被吊销金融许可证。 中证报中证网讯(记者陈露)全国企业破产重整案件信息网近日披露的信息显示，西藏金融租赁有限公司 申请破产审查，办理人为北京金融法院。 天眼查信息显示，西藏金租成立于2015年5月，注册资本50亿元，东旭集团有限公司为其第一大股东， 持股比例为48.48%。 ...

Core Points - The Guangdong Provincial Local Financial Supervision Administration announced a list of companies engaged in abnormal operations in financing leasing and commercial factoring, with 838 financing leasing companies and 170 commercial factoring companies set to be eliminated [1] - Companies on the list are required to apply for cancellation or removal of relevant business names within 30 days, or they will face regulatory actions [1] - The administration also released a list of 44 financing leasing companies rated C or above for the 2024 regulatory assessment, excluding Shenzhen [1] Group 1 - The announcement identifies 838 financing leasing companies and 170 commercial factoring companies for elimination due to abnormal operations [1] - Companies must act within 30 days to avoid penalties, including potential criminal charges for serious violations [1] - The regulatory rating system for financing leasing companies is categorized from A to E, with 44 companies rated C or above for 2024 [1] Group 2 - Prior to this, Shenzhen's local financial bureau published a list of financing leasing companies rated C or above for 2025, including 59 companies rated C or above, 21 rated D, and 56 rated E [1]

培育特色产业，助力打造增长引擎。围绕西部各省份的特色优势，兴业金租提供差异化支持。在四川支 持水电开发，在陕西支持能源冶金产业链企业，在新疆支持棉花产业和光伏电站建设等。 聚焦普惠金融，助力大众创业增收。针对西部光照资源丰富的特点，兴业金租在甘肃、宁夏、内蒙古等 省区的农村大力推广户用光伏租赁解决方案，增加农户收入；聚焦西部地区大量的小微企业和个体创业 者，兴业金租提供设备汽车经营、户用光伏融资租赁服务，缓解"融资难、融资贵"的压力，激发了基层 经济的市场活力。 广袤西部，发展潮涌。兴业金租公司积极践行国家西部大开发战略，聚焦基础设施建设、特色产业培育 和生态环保等重点领域，推进"区域+行业"资产构建，助力西部地区高质量发展。 夯实发展基础，助力联通交通网络。西部发展，交通先行。兴业金租积极参与四川、重庆、陕西等地的 重大基础设施建设，通过设备租赁为施工方提供盾构机、架桥机等大型工程机械，保障项目顺利推进， 助力打通西部发展的"动脉"。 截至目前，兴业金租公司在西部地区已投放1700多亿，未来，兴业金租将紧跟西部大开发新格局，持续 提升服务能级，为西部高质量发展注入源源不断的"租赁动力"。 ...

Core Viewpoint - The article highlights the significant role of Huarong Financial Leasing Co., Ltd. in supporting the integration of financial leasing with new productive forces, emphasizing its commitment to solving challenges in the real economy and driving industrial upgrades through innovative financial solutions [1][3][9]. Group 1: Event Overview - The "2025 Leasing Industry Production and Financial Ecosystem Conference" was held in Shanghai, focusing on the deep integration of the leasing industry with new productive forces [1]. - Huarong Financial Leasing received the "Best Transformation Breakthrough Financial Leasing Institution" award at the "2025 Financial Value Annual Conference" for its outstanding performance in transformation and service to the real economy [1]. Group 2: Strategic Focus - Huarong Financial Leasing centers its strategy on supporting new productive forces, transforming real economic challenges into business opportunities, and adhering to a "long, deep, new" development approach [3][4]. - The company has made strategic investments in emerging industries such as renewable energy, aerospace, and semiconductors, contributing to the construction of lighthouse factories and circular industrial parks [4]. Group 3: Financial Performance - During the "14th Five-Year Plan" period, Huarong Financial Leasing invested nearly 300 billion yuan, with an average annual growth rate exceeding 30%, supporting strategic emerging industries with nearly 60 billion yuan [6]. - By the end of the "14th Five-Year Plan," the company's asset scale increased to nearly 170 billion yuan, reflecting a growth of over 50% from the beginning of the period [6]. Group 4: Innovation and Projects - Huarong Financial Leasing has launched several industry-first and globally innovative projects, including financing for the world's largest PCTC car roll-on/roll-off ship and the largest green ethylene project [7][8]. - The company has also collaborated with a leading global aircraft engine manufacturer on a dual-first project, marking a significant advancement in China's aviation industry [8]. Group 5: Future Outlook - As China accelerates its transition to an innovation-driven and upgraded industrial phase, Huarong Financial Leasing aims to deepen its involvement in supporting the real economy and national strategies, focusing on professional sectors and emerging fields [9].