Core Viewpoint - The company has established a partnership with several entities to form Tianjin Xinyufang Enterprise Management Partnership, aiming to enhance asset management capabilities and leverage synergies in investment projects [2][4]. Group 1: Transaction Overview - The total subscribed capital for Tianjin Xinyufang is 153,654.70 million yuan, with contributions from various partners: China Cinda 81,554.70 million yuan (53.08%), Xi'an Xinyuyuan 28,800.00 million yuan (18.74%), and Kede Shengye 43,200.00 million yuan (28.11%) [2][4]. - The partnership is classified as a related party transaction and does not constitute a major asset restructuring, thus not requiring additional board or shareholder approvals [3][4]. Group 2: Related Parties and Relationships - China Cinda Asset Management Co., Ltd. is a state-controlled listed company with a registered capital of 3,816,453.5147 million yuan, primarily engaged in managing and disposing of non-performing assets [5][6]. - Xinsenglibao Equity Investment Co., Ltd. is a limited liability company with a registered capital of 9,000.722401 million yuan, focusing on equity investments and related activities [7]. Group 3: Partnership Structure and Management - Tianjin Xinyufang will operate under a management model where Xinsenglibao acts as the executing partner, responsible for external representation and operational management [12]. - An investment decision-making committee will be established, comprising four members from the partner entities, requiring unanimous consent for decisions [13]. Group 4: Investment and Financial Arrangements - The partnership intends to invest in a city renewal project in Xi'an, which is currently under construction, with capital contributions contingent on project progress [11][19]. - Investment returns will be distributed biannually, with specific provisions for early repayment of principal and interest [20]. Group 5: Risk Management and Control Measures - The project company will be wholly owned by Tianjin Xinyufang, ensuring control over the investment [23]. - The company will appoint key personnel to manage the project company, ensuring deep involvement in operations and financial oversight [23].

Core Viewpoint - The announcement details the establishment of a partnership named Tianjin Xinyufang Enterprise Management Partnership (Limited Partnership) involving Xian Xinyuyuan, China Cinda Asset Management Co., Ltd., Xinsenglibao Equity Investment Co., Ltd., and Shaanxi Kede Shengye Real Estate Development Co., Ltd. with a total subscribed capital of 153,654.70 million yuan [2][4] Group 1: Investment Overview - The total subscribed capital for Tianjin Xinyufang is 153,654.70 million yuan, with contributions from various partners: Xinsenglibao 100.00 million yuan (0.07%), China Cinda 81,554.70 million yuan (53.08%), Xian Xinyuyuan 28,800.00 million yuan (18.74%), and Kede Shengye 43,200.00 million yuan (28.11%) [2][4] - The partnership aims to invest in a city renewal project in Xi'an, which is currently under construction [9] Group 2: Related Party Transactions - The investment constitutes a related party transaction as China Cinda is the controlling shareholder of the company, and Xinsenglibao is a subsidiary of the controlling shareholder [2][6] - This transaction does not constitute a major asset restructuring and falls within the scope of the annual board and shareholder meeting approvals [3][4] Group 3: Management and Decision-Making - Tianjin Xinyufang will establish an investment decision-making committee composed of four members, with representatives from each partner, requiring unanimous consent for decisions [11] - Xinsenglibao will act as the executing partner, representing Tianjin Xinyufang in external matters [10] Group 4: Financial Arrangements - The investment will be used for land transfer fees, deed tax, and project construction costs [18] - Investment returns will be paid by the project company on specific dates each year, with provisions for early repayment [19] Group 5: Risk Management - The company will implement risk control measures, including deep involvement in project management and shared control over project company assets [21] - The partnership aims to enhance asset management capabilities and does not foresee significant impacts on the company's future liquidity [22]

Group 1: MSCI Index Adjustment Overview - MSCI announced its index adjustment results for August 2025, with significant changes in the Greater China region, adding 14 stocks and removing 17 stocks [1][13] - The adjustment is expected to influence the flow of trillions of dollars in global "smart money," as many funds and index products track MSCI indices [1][3] Group 2: Importance of MSCI Index - MSCI, established in 1968, is one of the three major global index providers, with its flagship MSCI ACWI index covering 2,524 stocks from 23 developed and 24 emerging markets, representing about 85% of the global investable stock market [2] - As of July 31, 2025, the MSCI ACWI index had a market capitalization of $85.16 trillion, with a significant amount of funds tracking it, indicating that even a small percentage of fund movement can result in substantial financial implications [3] Group 3: Performance of Emerging Markets - Emerging markets have shown a resurgence, with an annualized return of 9.80% since December 31, 1987, outperforming the average return of 8.55% for the MSCI ACWI index [4] - Year-to-date returns for emerging markets reached 17.90%, compared to 11.19% for developed markets, indicating a strong performance in the first half of the year [5] Group 4: Composition of MSCI ACWI Index - The top ten constituents of the MSCI ACWI index are predominantly U.S. companies, with a combined weight of 23.94% and a total adjusted market capitalization of $20.39 trillion [7] - The largest sector in the index is Information Technology, accounting for 26.63% of the total weight, followed by Financials at 17.68% [7] Group 5: New Additions and Removals - A total of 42 stocks were added to the index, while 56 stocks were removed, with significant changes in Chinese mainland and Hong Kong stocks [11][13] - Notable new additions include major companies like CITIC Bank and various high-performing stocks from different sectors, indicating a shift in market focus [12][14] Group 6: Implications for Companies - The inclusion in the MSCI index presents a significant opportunity for newly added companies to attract international capital and resources, while removed companies may need to reassess their market competitiveness [17] - The adjustments reflect the dynamic nature of global capital markets and provide investors with a chance to reevaluate their investment strategies [17]

Core Viewpoint - Gansu Bank has signed an asset transfer contract with Gansu Asset Management Co., intending to sell an asset package for 15.3 billion yuan, which has a total principal and interest balance of approximately 19.719 billion yuan [1][3]. Group 1: Asset Transfer Details - Gansu Bank has accelerated the disposal of non-performing assets since its listing, having sold asset packages totaling nearly 23.8 billion yuan to Gansu Asset Management in eight transactions [2][5]. - The current asset package includes not only credit assets but also non-credit low-yield financial investment assets such as trust and asset management plans [2][3]. - The asset package consists of approximately 17.864 billion yuan in principal and 1.855 billion yuan in accrued interest, with the credit assets primarily in wholesale and retail, real estate, manufacturing, and mining sectors [3]. Group 2: Financial Implications - The sale price of 15.3 billion yuan is slightly higher than the net book value of the disposed assets, which is approximately 14.922 billion yuan after accounting for impairment provisions of about 4.797 billion yuan [3]. - The payment for the asset transfer will be made in installments, with an initial payment of 8 billion yuan due within five working days of the contract's effectiveness, followed by two additional payments over the next five years [4]. Group 3: Industry Context - The trend of accelerating non-performing asset disposal in the banking industry is evident, with Gansu Bank's actions reflecting a broader industry movement towards managing both credit and non-credit asset quality [7]. - Gansu Asset Management, established in 2016, focuses on managing, investing, and disposing of non-performing assets, indicating a growing market for such services in the region [7].

近年来，五大全国性金融资产管理公司积极介入问题企业救助，成功落地了一大批项目，帮助问题 企业实现脱困。当下，为防止潜在风险传染集聚，金融资产管理公司将业务范围进一步扩展到纾困问题 企业这一更宽广领域是必然之举。 金融资产管理公司作为逆周期调节与资源再配置的专业机构，在存量领域可以有效发挥功能作用， 为企业提供定制化纾困方案，畅通经济良性循环。 回顾金融资产管理公司几十年在不良资产领域的探索，金融资产管理公司已经在问题企业纾困领域 积累了较为丰富的经验，形成了较为成熟的业务模式，成功落地了很多项目。 综合来看，金融资产管理公司主要围绕产业转型升级、行业并购重组、企业结构调整中的纾困需 求，以不良资产收购处置、市场化债转股和实质性重组为主要手段，积极探索开展问题企业纾困。 具体来看，针对问题企业重组重整和行业龙头企业产能扩张需求，金融资产管理公司充分发挥金融 机构赋能产业转型发展、促进资源优化配置的作用，通过不良债权收购、债转股、股权投资、企业重组 等方式对标的资产进行清理整合与孵化培育，既可以帮助问题企业摆脱经营困境、重获新生，也可以帮 助龙头企业通过行业并购实现规模经济效益。例如，中国长城资产立足自身经营基础 ...

近日，"长城长征1号资产支持专项计划（可续发型ABS）"在深圳证券交易所成功设立。该项目不 仅是中国长城资产获批的"长城长征系列"100亿元储架额度项下的首单产品，更是全国首单由金融资产 管理公司在交易所市场发行的不良资产证券化产品，标志着中国长城资产在运用创新金融工具盘活不良 资产领域取得里程碑式突破。 本期产品发行规模17.7亿元，其中优先级规模17.5亿元，期限1年，预期收益率2.15%。招商证券担 任本项目的计划管理人兼牵头销售机构，并负责提供二级市场报价做市服务；长城国瑞证券、中金公司 和国泰海通证券担任联席销售机构。 据悉，该产品是首单以不良资产作为底层资产在交易所发行的ABS产品，中国长城资产精准定位目 标客户群体，通过精心优化交易条款设计、严格资产筛选标准、精细构建估值与现金流模型，并依托市 场化定价机制，最终成功吸引了包括银行理财、公募基金、券商等在内的多元化投资者踊跃参与，取得 了全场认购倍数和优先级发行利率双双超越预期的良好效果。 下一步，中国长城资产将继续推进"长城长征"系列资产证券化产品，进一步深化与交易所和广大投 资者的合作，为构建多层次资本市场、助力经济高质量发展贡献专业力量。 ...

作为国家金融安全网络的重要组成部分，中国东方在房地产项目风险化解、困境房企重组纾困、大 型集团危机救助等方面积累了丰富经验。近年来，中国东方充分发挥综合协调和资源整合能力，着力解 决困境房企面临的复杂问题，从"金融+产业"维度，统筹兼顾各利益相关方诉求，根据风险类型和项目 端实际情况，量身定制化险思路和解决方案。截至2025年一季度末，中国东方累计推动保障6.43万套商 品房按期交付，解决农民工工资超21亿元，支付上下游材料款、工程款等超百亿元，支持2000余亿元存 量项目复工复产，为化解房地产业存量风险、维护区域金融稳定和社会公众利益作出积极贡献。 近年来，中国东方资产管理股份有限公司（以下简称"中国东方"）积极践行风险化解职责使命，切 实发挥专业化处置功能，努力修复房地产上下游信用链条，打造困境地产项目盘活典型案例，为构建房 地产发展新模式，助力促进房地产市场止跌回稳，持续贡献金融力量。 发挥金融服务优势 助力"保交楼" 盘活低效沉睡资产 助力"保稳定" 如何盘活庞大的不动产存量资源，对闲置土地、低效不动产进行再运用、数字化运营及跨行业战略 合作，是当前房地产市场风险出清的必答之题。中国东方充分发挥不良资 ...

Core Viewpoint - The transformation of Renyi Village in Sichuan Province into a model for rural revitalization is largely attributed to the support from China CITIC Financial Asset Management Co., which has invested over 20 million yuan in infrastructure, industry development, and educational assistance over the past decade [1][2][6]. Infrastructure Improvement - The focus on improving basic infrastructure has been crucial for poverty alleviation and rural revitalization, with significant investments made in housing and water supply [2][3]. - A total of 200 million yuan was allocated for housing safety, benefiting over 160 impoverished residents, and 300 million yuan was invested in a reservoir project to ensure safe drinking water [2]. - Over 500 million yuan was spent on road construction, resulting in the creation of 8 kilometers of new roads and the installation of over 200 solar streetlights [3]. Industry Development - The introduction of cherry cultivation has been a key driver for sustainable development, with 850 acres established as a demonstration area, generating significant income for villagers [4][6]. - The company has also invested 150 million yuan in a rice processing plant and provided seeds for high-end medicinal herbs, further diversifying income sources for the villagers [6]. Governance and Community Engagement - The establishment of cultural facilities and community engagement initiatives has improved the quality of life and increased participation in local governance [7][8]. - The "Rural Revitalization Leaders" program has encouraged villagers to take initiative in various community projects, enhancing their involvement in local affairs [8]. - The overall governance improvements have led to a notable increase in villagers' happiness and satisfaction with their living conditions [8].

Group 1 - The core message emphasizes the importance of implementing the central government's strategies for the development of the central region and ecological protection in the Yellow River basin, with a focus on transforming resource-based economies in Shanxi [1] - China Cinda's Shanxi branch is committed to leveraging its professional advantages in financial asset management to support high-quality development in Shanxi, aligning with the region's modernization efforts [1][5] Group 2 - The company has organized immersive learning experiences for its employees at historical sites to instill the spirit of perseverance and resilience, which is crucial for driving Shanxi's transformation [2] - China Cinda has invested over 30 billion yuan to support the development of new materials and clean energy technologies, aiming to create a modern industrial system with competitive advantages [4] Group 3 - The company has played a significant role in the energy sector by investing over 300 billion yuan to support energy supply and industrial transformation, focusing on the needs of traditional coal enterprises [3] - China Cinda has utilized innovative financial tools to assist companies in overcoming financial difficulties and enhancing their green and low-carbon production capabilities [3][4] Group 4 - The company is actively collaborating with educational institutions to explore innovative financial solutions that facilitate the commercialization of clean energy technologies [4] - China Cinda aims to continue its commitment to the political and social responsibilities of a financial central enterprise, contributing to Shanxi's modernization and development [5]

北京商报讯(记者李海媛)8月5日，中国人民银行等七部门联合印发《关于金融支持新型工业化的指导意 见》，其中提到，加强各类金融工具的联动配合。推动银行、保险、证券、基金、融资担保机构、金融 资产管理公司等在防范交叉性金融风险、保障客户隐私的前提下，加强信息共享和业务合作。支持金融 控股公司整合集团内各类金融资源，为企业提供综合性金融服务。鼓励保险机构、银行理财子公司、金 融租赁公司和融资租赁公司在风险可控、商业自愿前提下，通过股权、债券、私募基金、融资租赁等形 式，为先进制造业发展提供长期稳定资金支持。 ...