Core Points - China Evergrande Group is involved in a legal case regarding debt restructuring and has been subject to a first-instance judgment [1] - China Cinda Asset Management Co., Ltd. Shenzhen Branch has transferred its creditor's rights and guarantees to Tianjin Xinzhongtian Enterprise Management Partnership (Limited Partnership) [1][2] - Debtors and guarantors are required to fulfill repayment obligations to Tianjin Xinzhongtian Enterprise Management Partnership [1] Group 1 - The first-instance case number for China Evergrande Group is (2023) Yun Min Chu 493 [1] - The second-instance case number is (2024) Yun Min 294 [1] - The execution case number is (2024) Yun 1587 [1] Group 2 - The announcement serves as a notification to debtors and guarantors regarding the transfer of creditor's rights [2] - Contact information for inquiries is provided, including a contact person and phone number [2] - The announcement is dated November 6, 2025 [2]

Core Viewpoint - Southbound funds have increased their holdings in CITIC Financial Assets (02799.HK) by 1.279 million shares on November 5, 2025, marking a positive trend in investment interest over recent trading days [1] Group 1: Shareholding Changes - In the last 5 trading days, southbound funds have increased their holdings on 4 days, with a total net increase of 46.066 million shares [1] - Over the past 20 trading days, there have been 13 days of net increases, totaling 92.597 million shares [1] - As of now, southbound funds hold 3.503 billion shares of CITIC Financial Assets, accounting for 9.9% of the company's total issued ordinary shares [1] Group 2: Daily Shareholding Data - On November 5, 2025, the total shareholding was 3.503 billion shares, with a change of 1.279 million shares, reflecting a 0.04% increase [2] - On November 4, 2025, the total shareholding was 3.502 billion shares, with a change of 18.336 million shares, reflecting a 0.53% increase [2] - On November 3, 2025, the total shareholding was 3.484 billion shares, with a change of 27.970 million shares, reflecting a 0.81% increase [2] - On October 31, 2025, the total shareholding was 3.456 billion shares, with a change of 2.949 million shares, reflecting a 0.09% increase [2] - On October 30, 2025, the total shareholding was 3.453 billion shares, with a change of -4.468 million shares, reflecting a -0.13% decrease [2] Group 3: Company Overview - CITIC Financial Assets Management Co., Ltd. primarily engages in asset management, operating through three main divisions: non-performing asset management, financial services, and asset management and investment [2]

近日，在由《21世纪经济报道》主办的"2025资产管理年会暨第十八届21世纪『金贝』资产管理竞争力 研究案例"发布盛典上，太平资产荣获"2025卓越保险资管公司"奖项。 根据国家金融监督管理总局数据，截至2024年8月底，保险业通过债权、股权等多种方式为实体经济提 供资金支持达28.8万亿元，同比增长12.2%。这一数据背后，是保险资金在支持国家重大项目建设、促 进产业升级中的不可替代作用。 太平资产深刻把握保险资金规模大、期限长、来源稳定的特性，通过跨周期、跨市场的大类资产配置， 有效抵御短期波动，将其转化为服务实体经济的长效动力，为实体经济注入稳定持续的金融活水。 中国资产管理"金贝奖"评选始于2008年，历经十八载积淀，已成为衡量资管机构综合实力与行业贡献的 重要标尺。此次获奖，彰显了市场对太平资产长期坚持价值投资、深耕投研体系建设、持续服务实体经 济的高度认可。 作为中国太平保险集团旗下的专业资产管理平台，太平资产始终秉承"长期投资、价值投资、稳健投 资"的理念，在复杂多变的市场环境中展现出卓越的资产配置能力和风险管理水平。 近年来，伴随中央关于"培育耐心资本""引导中长期资金入市"等一系列政策部署， ...

Core Insights - The "International Financial Leaders Investment Summit" concluded successfully in Hong Kong, marking its fourth edition and providing a platform for over 300 leaders from local and overseas financial markets to discuss emerging investment opportunities and risks [1] Group 1: Event Overview - The summit was held over three days and included participation from more than 100 leaders of top global financial institutions, covering various sectors such as banking, asset management, private equity, and hedge funds [1] - The event was co-hosted by the Hong Kong Monetary Authority, the Securities and Futures Commission, and the Financial Academy, emphasizing Hong Kong's role as a leading financial center in Asia [1] Group 2: Discussion Topics - Key topics discussed included geopolitical fragmentation, changes in asset management and alternative investment activities, the development potential of Asian investment markets, and the transformative role of artificial intelligence and digital innovation in reshaping investment activities, risk assessment, and portfolio management [1] - The summit's theme, "Navigating Change and Moving Forward," reflects the current uncertainties faced by global financial markets and the real economy [1] Group 3: Leadership Statements - The President of the Hong Kong Monetary Authority highlighted the summit as a unique platform for international financial leaders to share insights on the challenges in the global financial landscape [1] - The Chairman of the Securities and Futures Commission reaffirmed Hong Kong's resilience and innovative capabilities, positioning it as a gateway to the Asian market and a hub for fostering growth and investor confidence [1]

【导读】安永忻怡：金融科技正成为资管行业价值创造核心引擎 金融科技作为科技驱动的金融创新，已成为数字经济背景下金融发展方式和治理体系变革的重要驱动 力。资产管理行业如何充分发挥人工智能和数据要素的双轮驱动作用、提升各个业务环节的投入产出 比、稳妥推动金融数智化转型迈上新台阶？中国基金报记者就此专访了安永大中华区金融服务首席合伙 人、安永亚太区金融科技与创新首席合伙人忻怡。 金融科技从辅助工具迈向价值创造核心引擎 中国基金报：在你看来，与前几年相比，当前中国资产管理行业对金融科技的需求发生了哪些根本性的 变化？ 忻怡：当前中国资管行业对金融科技的需求已从被动适配合规要求、单点工具应用向主动以科技为战略 核心、驱动全价值链数智化重构进行转变。 前几年机构更侧重用科技手段解决流程自动化等问题，如今更聚焦业务场景、数据要素与技术能力的深 度耦合，追求从客户触达、投研决策、风险管理到内部运营等端到端全流程智能化升级。这一转变的核 心特征是：机构不再将科技视为辅助工具，而是将其作为破解净值化转型压力、应对市场化竞争、挖掘 新增量价值的核心引擎，对技术的业务价值转化效率、跨场景协同能力提出了更高要求。 中国基金报：人工智能 ...

【导读】安永忻怡：金融科技正成为资管行业价值创造核心引擎 中国基金报记者 郭玟君 金融科技作为科技驱动的金融创新，已成为数字经济背景下金融发展方式和治理体系变革的 重要驱动力。资产管理行业如何充分发挥人工智能和数据要素的双轮驱动作用、提升各个业 务环节的投入产出比、稳妥推动金融数智化转型迈上新台阶？中国基金报记者就此专访了安 永大中华区金融服务首席合伙人、安永亚太区金融科技与创新首席合伙人忻怡。 二是穿透式管理。借助算法对底层资产、逐笔交易及关联方信息进行深度拆解，打破多层嵌 套结构带来的风险隐匿问题，实现风险在不同资产类别、交易结构、机构主体间的全链条传 导追踪。 金融科技从辅助工具迈向 价值创造核心引擎 中国基金报： 在你看来，与前几年相比，当前中国资产管理行业对金融科技的需求发生了哪 些根本性的变化？ 忻怡： 当前中国资管行业对金融科技的需求已从被动适配合规要求、单点工具应用向主动以 科技为战略核心、驱动全价值链数智化重构进行 转变。 前几年机构更侧重用科技手段解决流程自动化等问题，如今更聚焦业务场景、数据要素与技 术能力的深度耦合，追求从客户触达、投研决策、风险管理到内部运营等端到端全流程智能 化升级 ...

11月3日至5日，第四届国际金融领袖投资峰会在香港举行。 此次峰会由香港金融管理局主办，主题为"驾驭变局，砥砺前行"，吸引了银行、证券、资产管理、主权 财富基金、私募股权和风险投资、对冲基金等全球金融行业领军人物齐聚。 东方汇理首席执行官Valérie Baudson表示，从全球范围来看，亚洲资产的估值极具吸引力，因此对其而 言，亚洲资产是必配项。此外，欧洲优质企业债券非常值得关注。"股票方面，我们如今更看重优质企 业和估值水平。"她表示，如果要给出一个核心建议，那就是从市值加权配置转向GDP加权配置，这是 当前环境下更明智、更合理的投资选择。 美国道富集团主席兼行政总裁Ronald P.OHanley表示，人工智能领域将会涌现出新的行业领军者。"人工 智能的应用目前仍处于早期阶段，这是有原因的。我的投资重点就是发掘这些未来能颠覆现有行业格局 的新冠军。" 张辉表示，从银行的角度来讲，将会更关注业务的区域布局，尤其是通过境外业务有效实现对境内银行 利差收窄不利影响的对冲。 "我们将以中银香港为依托，向全球辐射业务，尤其是东南亚地区。经过多年深耕，东南亚已成为支撑 我们业务增长的重要力量，也获得了当地监管部门的 ...

Core Insights - BlackRock has confirmed the launch of its iShares Bitcoin ETF in mid-November 2025 in Australia, providing local investors with easier access to cryptocurrency [1] - The Australian Securities and Investments Commission (ASIC) has updated its guidelines, reclassifying most digital assets, including stablecoins, wrapped tokens, security tokens, and digital asset wallets, as financial products [1] Group 1 - BlackRock's iShares Bitcoin ETF aims to facilitate local market access to cryptocurrencies for Australian investors [1] - The reclassification by ASIC indicates a regulatory shift that may enhance the legitimacy and integration of digital assets within the financial system [1]

Financial Data and Key Metrics Changes - The company reported adjusted net income of $1,400,000,000 or $2.17 per share, up 17% year over year [4] - Fee-related earnings (FRE) increased by 23% year over year, with management fee growth of 22% year over year [6] - The company expects full-year SRE growth of approximately 8% year over year, exceeding the mid-single-digit target previously provided [6][56] Business Line Data and Key Metrics Changes - Asset management generated record AUM of $908,000,000,000, up 24% year over year [51] - The company achieved $75,000,000,000 in origination for the quarter, marking a 40% increase year over year [38] - Retirement services saw gross inflows of $23,000,000,000, contributing to a year-to-date total of $69,000,000,000 [30][53] Market Data and Key Metrics Changes - The average spread on origination was stable at 350 basis points over treasuries, with an average rating of BBB [7] - The company reported robust inflows of $82,000,000,000 for the quarter, with $59,000,000,000 from asset management and $23,000,000,000 from retirement services [8] Company Strategy and Development Direction - The company is focused on three strong fundamentals: financing the global industrial renaissance, addressing the retirement crisis, and providing alternatives to public markets [10][11][12] - The company anticipates significant growth in private assets, driven by increasing demand from various investor classes [15][16] - The outlook for asset management is bright, with expectations of over 20% FRE growth in 2026 [28][57] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the current credit environment, emphasizing disciplined underwriting and risk management [35] - The company expects SRE growth of 10% in 2026, supported by strong organic growth and origination capabilities [58] - Management highlighted the importance of innovation in asset management and retirement services as a key driver for future growth [27][59] Other Important Information - The company closed the acquisition of Bridge, which is expected to contribute approximately $300,000,000 of annual fee-related revenues [52] - The company executed over $350,000,000 in share repurchases during the quarter, reflecting opportunistic capital management [61] Q&A Session Summary Question: Discussion around origination targets - Management acknowledged the strong origination performance but stated it would be premature to change the five-year estimates at this time [63][64] Question: Wealth market trajectory - Management indicated that the wealth market is on pace with previous estimates and highlighted the importance of expanding product offerings and partnerships [68][70] Question: Concerns about private letter ratings - Management defended Athene's credit quality, stating that less than 8% of assets are rated by private letter ratings and emphasized the importance of strong underwriting practices [78][80] Question: Demand for yield as rates decline - Management addressed concerns about rotation risk, emphasizing that private lending remains a strong business despite changing market conditions [90][92]

Core Viewpoint - The article emphasizes the investment opportunities in China's market, particularly in technology stocks, consumer sectors, and renewable energy, as highlighted by Barings' co-director Martin Horne [3][9]. Group 1: Investment Opportunities - Barings has increased its asset allocation in Chinese technology stocks, viewing them as a global investment hotspot due to their manufacturing and R&D capabilities [7][8]. - The Chinese consumer market is experiencing an upgrade in domestic consumption, supported by government policies aimed at reducing reliance on overseas markets [9]. - The renewable energy sector in China is positioned for growth, driven by AI demand and global climate change initiatives, presenting significant investment opportunities [9]. Group 2: Market Influences - External factors, such as tariff policies, have previously caused market volatility, but China has effectively mitigated these impacts through trade structure adjustments [11][13]. - The influence of tariff discussions on global markets is expected to diminish by 2026, as new pragmatic agreements are anticipated between China and the U.S. [14]. - The current global financial uncertainty is increasing demand for diversified investments, with emerging market funds and gold gaining attention as safe-haven assets [14].