格隆汇8月12日丨越秀资本(000987.SZ)公布，为拓宽融资渠道、优化融资结构、降低融资成本，公司控 股子公司拟公开发行中期票据、超短期融资券及公司债券合计不超过人民币120亿元(含120亿元)。其 中，公司控股子公司广州越秀产业投资有限公司(简称"越秀产业投资")拟公开发行不超过人民币20亿元 (含20亿元)中期票据，公司控股子公司广州越秀融资租赁有限公司(简称"越秀租赁")拟公开发行不超过 人民币50亿元(含50亿元)超短期融资券，公司控股子公司上海越秀融资租赁有限公司(简称"上海越秀租 赁")拟公开发行不超过人民币10亿元(含10亿元)超短期融资券，公司控股子公司广州越秀新能源投资有 限公司(简称"越秀新能源")拟公开发行不超过人民币20亿元(含20亿元)中期票据和不超过人民币20亿元 (含20亿元)公司债券。 ...

Group 1 - The development of strategic emerging industries such as computing infrastructure, power grid equipment renovation, semiconductors, and integrated circuits has been accelerating since 2025, with the role of technology finance becoming increasingly prominent [1] - Non-bank financial institutions are encouraged to support the upgrading of technology equipment, leading to an increase in financial leasing companies focusing on technology finance [1] - Guoyin Financial Leasing Co., Ltd. issued 4 billion yuan of "technology innovation theme" financial bonds, indicating a trend in financial leasing companies issuing bonds to support technology innovation [1] Group 2 - The Zhongxing Electric Power Penglai Power Plant project is a key project in Shandong Province, with a total investment of 7.5 billion yuan, aimed at exploring efficient and clean development of coal-fired power plants [2] - Minsheng Financial Leasing Co., Ltd. recognized the project's advanced design and technology, leading to a collaboration to meet the funding needs of 6 billion yuan for the project [3] Group 3 - The issuance of "science and technology innovation bonds" has become common among financial leasing companies, with Guoyin Financial Leasing issuing bonds to support technology innovation projects [6][7] - The bonds issued by Guoyin Financial Leasing have a scale of 4 billion yuan and a term of 3 years, with a coupon rate of 1.70%, marking a significant issuance in the industry [6] - Other leading leasing companies, such as Zhongjian Investment Leasing Co., have also issued "science and technology innovation bonds," indicating a growing trend in the sector [8]

Core Viewpoint - The financial leasing industry is finding solutions under the "Two Heavy" and "Two New" policy winds by returning to the essence of leasing, driving innovation, and supporting key industry transformations and upgrades through deep cultivation and integration into national strategies [1][2]. Group 1: Industry Development - Financial leasing serves as a financial tool to promote the transformation of the real economy, combining "financing + leasing" with advantages such as flexible terms, diverse models, and efficient implementation [2][3]. - The "Government Work Report" emphasizes accelerating high-quality development in key manufacturing industry chains and further expanding the scope and lowering thresholds for major technological upgrades and equipment renewal projects [3]. - The report's detailed goals present higher requirements for the financial leasing industry while providing opportunities for high-quality development [3]. Group 2: Support for Small and Micro Enterprises - Financial leasing is an important supplement to traditional bank financing, effectively addressing the financing difficulties and high costs faced by small and micro enterprises through its unique "financing + leasing" characteristics [4]. - Companies are focusing on building specialized teams for small and micro businesses, optimizing regional layouts, and innovating specialized leasing products to better support financing needs in key areas such as advanced manufacturing and green energy [5]. Group 3: Green Development Initiatives - The "Government Work Report" highlights the need to accelerate the development of a green low-carbon economy and improve mechanisms for green consumption incentives and green trade [6]. - Financial leasing companies are encouraged to innovate green leasing products and design customized long-term leasing solutions to support green projects, which often require significant upfront investment [6]. - Over the next five years, the industry must establish robust risk management systems and capital replenishment mechanisms to enhance capital strength and ensure stable operations [6].

Core Viewpoint - The recent annual reports from China's three major airlines—China Southern Airlines, Air China, and China Eastern Airlines—highlight the growing significance of domestically produced aircraft, particularly the C919, with China Eastern Airlines becoming the first operator of the C919 fleet [1] Group 1: C919 Fleet and Operations - China Eastern Airlines has expanded its C919 fleet to 10 aircraft, having executed over 6,500 flights [1] - Among the 10 C919 aircraft operated by China Eastern, 4 are owned outright while 6 are held through financing leases [1] - In total, 16 C919 aircraft have been delivered in China over the past two years, with China Southern Airlines and Air China each operating 3 aircraft, all acquired through different leasing arrangements [1] Group 2: Financing and Leasing Institutions - Of the delivered C919 aircraft, 9 have been provided by financing leasing institutions, with China Southern's 3 aircraft delivered by China Everbright Leasing, ICBC Financial Leasing, and China Southern Leasing, while China Eastern's 6 aircraft were delivered by China Eastern Leasing, Zhuhai Financial Leasing, and ICBC Financial Leasing [2] - Numerous financial leasing companies have engaged in C919 aircraft leasing, with significant orders placed as early as 2010, including a 50-aircraft purchase intention agreement by Guoyin Financial Leasing [2] - Other notable financial leasing companies involved include Agricultural Bank of China Financial Leasing, CCB Financial Leasing, and Ping An Leasing, among others, with various orders totaling up to 50 aircraft [2] Group 3: Market and Policy Support - Approximately 600 out of 1,500 C919 orders received by COMAC are from financial leasing companies, indicating strong market interest [3] - The Chinese government has emphasized the importance of nurturing emerging industries, including commercial aerospace, which aligns with the growth of aircraft leasing as a financial strategy [3] - Financial leasing companies provide crucial support to the domestic aviation industry, helping alleviate financial pressures on airlines and facilitating technological advancements [3]

Core Viewpoint - The People's Bank of China has introduced a series of monetary policy measures, including a reduction in the reserve requirement ratio for auto finance and financial leasing companies from 5% to 0%, aimed at enhancing credit supply in specific sectors such as automotive consumption and equipment upgrading [1] Group 1: Impact on Financial Leasing Industry - The reduction in the reserve requirement ratio will release more long-term liquidity, significantly enhancing the funding capacity of financial leasing companies [1] - Although the overall amount of released funds may not be substantial due to the nature of financial leasing companies not accepting deposits, the policy reflects the government's recognition of the importance of supporting equipment upgrades [1] - Financial leasing companies like Jiangsu Jinzu expect to release approximately 1.3 billion yuan in incremental funds due to the new policy, which will aid in business expansion and support for equipment updates [2] Group 2: Market Dynamics and Opportunities - The new policy is expected to increase the overall activity in the financial leasing market, attracting more enterprises to engage in financial leasing, thereby expanding market size and increasing investment in equipment upgrades [3] - The State Development and Reform Commission has estimated that the equipment upgrading market could exceed 5 trillion yuan annually, indicating a significant growth opportunity for the leasing industry [5] - Financial leasing companies are encouraged to optimize their service offerings and focus on supporting key sectors such as clean energy and traditional manufacturing through tailored financial solutions [6][7] Group 3: Policy Support and Strategic Focus - The central bank has increased the re-lending quota for technological innovation and equipment upgrading from 500 billion yuan to 800 billion yuan, aiming to provide low-cost, sustainable funding support for key areas [4] - Companies are expected to enhance their service capabilities by extending lease terms and customizing repayment plans based on industry characteristics, thereby improving cash flow for clients [6][7]

在强监管、严监管态势下，2025年上半年，多家金融租赁公司因租赁物违规等问题而收到罚单。 过去一段时间以来，租赁物一直是监管关注的重点，也是政策引导的重点。 6月11日，国家金融监督管理总局上海监管局开出3张罚单，其中两张均涉及同一金融租赁公司，个 人和机构合计处罚金额接近百万元。 处罚信息显示，被处罚机构为招银金融租赁有限公司（以下简称"招银金租"），处罚案由包括违规 以公益性资产作为租赁物、违规开展在建工程售后回租业务、违规新增非设备类售后回租业务等。 除了招银金租，近日还有金融租赁公司因存在多项违规问题被处罚。6月4日，中煤科工金融租赁股 份有限公司（以下简称"中煤科工金租"）因通过多层嵌套业务结构规避关联交易管理、用印审批不到位 被罚80万元。 9家公司、18张罚单 《金融时报》记者梳理国家金融监督管理总局各地方监管局行政处罚公开信息发现，2025年上半 年，共有9家金融租赁公司收到18张罚单，涉及金融租赁从业人员9人，机构和个人合计罚没约746万 元。从事由来看，融资租赁业务管理不到位、股东股权管理不到位、关联交易管理不规范、租后管理不 到位等违法违规问题是监管部门对机构予以处罚的主要原因。 相较2 ...

Core Insights - Hubei Financial Leasing Co., Ltd. has developed a unique business model over its 10 years of operation, focusing on serving the real economy and achieving balanced growth in scale, quality, and efficiency [1][3] Business Performance - The company has cumulatively invested over 200 billion yuan, serving 120,000 clients, with total assets growing from 3.1 billion yuan in 2015 to 71.1 billion yuan by the end of 2024, a 22-fold increase [1] - Profit increased from 23 million yuan in 2015 to 1 billion yuan by the end of 2024, a 42-fold growth, while net assets rose from 3 billion yuan to 8.2 billion yuan, a 1.73-fold increase [1] - As of March 2025, total assets reached 82.44 billion yuan, with a non-performing financing lease asset ratio of 1.01% and a provision coverage ratio of 326.22%, indicating healthy asset quality [2] Strategic Transformation - The company has adapted to new regulatory requirements by hosting 10 transformation seminars since 2022 and implementing a five-year strategic plan for 2024-2028 [3][4] - Focus areas for transformation include new energy, transportation logistics, and high-end equipment, with a differentiated strategy that combines financial services with asset management [4] Business Model and Risk Management - The company has achieved a breakthrough in direct leasing, with cumulative investments nearing 20 billion yuan, and as of March 2025, direct leasing accounted for 16.86% of the total, an increase of 8.75 percentage points year-on-year [5] - Risk management involves a three-line defense strategy, emphasizing responsibility at the business line, internal control compliance, and internal audit supervision [6] Contribution to National Strategy - The company has actively participated in green finance, with cumulative investments of 24.63 billion yuan in green finance, 8.33 billion yuan in technology finance, and 1.84 billion yuan in pension finance [7] - In line with ESG principles, the company has integrated green finance with rural revitalization, providing significant benefits to local farmers and contributing to carbon reduction efforts [8] Future Outlook - The company aims to maintain a focus on serving the real economy, ensuring that business investments in Hubei province account for at least 50% of total investments, and plans to increase direct leasing investments to over 50% by 2026 [9]

突破"时效瓶颈"：专业力量护航科创企业扩产攻坚 深圳某光电企业成立于2017年，为国家级专精特新小巨人企业，主营高速光器件、光模块的研发销售，受益于AI、云计算等行业蓬勃发展，企业2024 年营业收入大幅增长，预计25年还可实现约50%的增长。企业计划进一步扩产，年前需采购一批设备用于提高产能，但银行批复流程较长，难以保证设备供 应商要求年前支付设备款项的时效性。永赢金租专业团队在实地调研中敏锐洞察到企业这一需求，突破传统金融服务的局限：技术专家深度参与设备选型评 估，财务顾问同步对接地方技改补贴政策，更创新应用"绿色通道+智能审批"机制，3周内完成从资料搜集、审批走访到批复放款的全流程。1000万元专项资 金精准直达，不仅解决了设备预付款的燃眉之急，更通过"设备更新贴息政策包"为企业降低融资成本，构建起覆盖技术升级、产能扩张、政策红利的立体化 解决方案。 十年，是金融破界拓新的十年，是租赁精业笃行的十年。 当工业4.0的浪潮拍打中国制造的堤岸，当数字经济的基因重组产业生态的链条，永赢金融租赁有限公司（以下简称"永赢金租"）以十年躬身探索，完 成了从"资金供给"向"智慧伙伴"的进化跃迁。从破解中小微企业融资困 ...

厚植家国情怀，勇担社会责任，在新时代高质量发展征程中，永赢金融租赁有限公司（以下简 称"永赢金租"）始终将社会责任融入企业基因，以金融活水浇灌实体经济沃土，用公益暖流润泽社会民 生，十年来矢志不渝地通过创新金融工具助力企业纾解经营压力，运用专业优势实施教育精准扶贫，组 织员工志愿者团队开展常态化公益服务，既展现了资金融通的专业价值，更用真诚爱心传递向善力量， 彰显着金融机构的使命担当。 创新赋能：让金融资源精准直达实体 "感谢这次产融对接活动，让我对技改政策更了解，能放心升级产线了！"重庆某制造业企业代表参 加活动后的感慨，印证了永赢金租的服务深度。从设备融资到政策解读，从法律咨询到上市辅导，这 类"金融+政策+产业"三维资源整合的线下活动，永赢金租已经在各地举办了158场，覆盖企业19万户。 同时还联合浙江、江西等省市级产业主管部门开展了百余场专题直播，制作政策解读短视频矩阵实现千 万级传播，已累计赋能超7万户中小微企业完成设备升级与数字化转型。 永赢金租始终以金融服务实体经济为使命，创新构建"政租企"协同体系，与多地金融监管、工业和 信息化、科技创新主管部门建立长效合作机制，共同打造产融协同创新示范工程。 ...

Core Insights - Yongying Financial Leasing Co., Ltd. celebrates its 10th anniversary, having provided over 410 billion yuan in financing and served more than 100,000 corporate clients, emphasizing its commitment to supporting the real economy and inclusive finance [1] Group 1: Inclusive Finance - Yongying Financial Leasing has provided over 160 billion yuan in financial support to 97,000 small and micro enterprises over the past decade, showcasing its dedication to inclusive finance [2] - The company has launched the "Equipment Home" one-stop service platform, leveraging 400 service institutions and over 1,000 experts to offer comprehensive solutions for equipment procurement, thereby reducing costs and improving operational efficiency for manufacturing enterprises [2] Group 2: Green Finance - Yongying Financial Leasing has developed a product system focused on green finance, including "sunshine leasing" and "energy storage leasing," aligning with the national "dual carbon" strategy [3] - The company has committed to providing 43 billion yuan in green finance by the end of 2024, contributing to significant carbon reduction efforts and supporting the construction of a beautiful China [3] Group 3: Technological Finance - The company has supported over 30,000 technology-driven enterprises with more than 90 billion yuan in financing over the past three years, focusing on high-end equipment and information technology sectors [4] - Yongying Financial Leasing has established a comprehensive service system for innovative enterprises, addressing financing challenges for "light asset" and "fast iteration" businesses [4] Group 4: Digital Finance - Yongying Financial Leasing has provided over 8 billion yuan in specialized financing for digital infrastructure, with 62% allocated to computing power investments, enhancing the efficiency of digital transformation [6] - The company integrates technology and finance, creating new infrastructure that supports the rapid evolution of the digital economy [6] Group 5: Pension Finance - Yongying Financial Leasing has actively supported the elderly care sector by providing customized financial solutions for medical institutions, including a recent 3 million yuan financing for a senior care hospital [7] - The company aims to enhance the quality of elderly care services and expand into emerging areas such as smart elderly care, contributing to the social vision of ensuring a dignified life for the elderly [7]