Group 1 - The core viewpoint of the articles highlights the significant concentration of financing leasing companies in Shanghai, which accounts for over 20% of the national total, with 1,749 companies registered as of June 2024 [1] - Shanghai's financing leasing market has a projected investment scale exceeding 900 billion yuan in 2024, featuring major players such as Far East Horizon, China Merchants Jinling, and others [2] - The competitive landscape of China's financing leasing industry shows a low market concentration, with the top three companies holding a market share of approximately 9%, the top five at 13%, and the top ten at 23% [8] Group 2 - The financing leasing companies with registered capital exceeding 12 billion yuan are limited, primarily including Bohai Leasing and others, often backed by banks and insurance firms [5] - Companies with registered capital between 5 billion and 12 billion yuan include Bank of China Financial Leasing and others, indicating a tiered structure within the industry [5]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600901 证券简称：江苏金租 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假 记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息的真 实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 主要会计数据和财务指标 单位：万元 币种：人民币 注1：每股收益、加权平均净资产收益率根据《公开发行证券的公司信息披露编报规则第 9 号——净资 产收益率和每股收益的计算及披露（2010 年修订）》计算。 注2：报告期加权平均净资产收益率及总资产收益率未年化处理。 非经常性损益项目和金额 √适用 □不适用 单位:万元 币种:人民币 注：非经常性损益根据中国证券监督管理委员会《公开发行证券的公司信息披露解释性公告第1号—— 非经常性损益 (2023修订) 》计算。 ...

转自：前瞻产业研究院 行业主要上市公司：江苏金租(600901.SH)、国银金租(01606.HK)、渤海租赁(000415.SZ)、远东宏信 (03360.HK)、海通恒信(01905.HK)等 本文核心数据：行业市场份额;行业市场集中度 1、中国融资租赁行业竞争梯队 从注册资本角度看，超过120亿元的融资租赁公司数量较少，主要包括渤海租赁、工银金融租赁、交银 金融租赁等，以银行、保险等股东为背景的居多。注册资本在50亿至120亿之间的融资租赁公司主要有 中银金融租赁、中航国际租赁、建信金融租赁等。 2、中国融资租赁行业细分市场企业格局 金融租赁企业中，在以注册资金为序的前十金融租赁企业排行如下表。工银金融租赁有限公司以180亿 元注册资本领先。 内资商租企业中，天津渤海租赁以221.01亿元注册资本领先。 2024年中国融资租赁市场投放规模超过3万亿，投放规模位于市场前列的公司包括远东宏信、招银金 租、兴业金租、苏银金租等。整体来看，投放规模较大的企业中，大部分企业为金租企业。 基于上述对融资租赁行业主要企业的投放额分析，2024年中国融资租赁行业的头部企业的市占率CR3约 9%，CR5为13%，CR10 ...

Core Viewpoint - The financing lease model, which integrates trade, credit, financing, and asset utilization, has been developing in China for over 30 years, providing benefits to both lessors and lessees, but it faces challenges such as increased disputes and lessee defaults, particularly in rent arrears and unauthorized disposal of leased assets [1] Group 1: Lessee Default and Lessor Remedies - Lessor's remedy for lessee default includes requesting full payment of overdue rent, with the right to demand all unpaid rent if the lessee fails to pay within a reasonable period after notice [2] - The core remedy for lessor in case of lessee default is to terminate the contract and reclaim the leased asset, which requires sending a termination notice to the lessee [3] - Lessor's priority right to compensation from the value of leased assets is a crucial mechanism for debt recovery, allowing them to claim proceeds from the sale of leased assets to cover unpaid rent and other fees [5][6] Group 2: Special Circumstances and Lessor Strategies - Non-rent defaults, such as unauthorized disposal or improper use of leased assets, can also occur, and if deemed a fundamental breach, the lessor may accelerate rent payment or terminate the contract [7] - In cases where the lessee faces other debt disputes, the risk of forced execution on leased assets exists, and the lessor's ability to prevent this largely depends on whether proper registration has been completed [8] Group 3: Judicial Considerations in Lessee Default - In judicial practice regarding financing lease disputes, the focus should be on whether the lessor's claims align with the principle of "one choice exercise," avoiding double recovery [9] - The court should assess whether the lessee's actions constitute a fundamental breach, particularly in cases where the lessee has made substantial rent payments or provided alternative guarantees [10]

Core Insights - The financial leasing market in 2024 shows a trend of "total growth and clear hierarchy," with bank-controlled leasing institutions dominating the industry [1][6] - The "billion club" has 15 institutions, with 14 being bank-controlled, indicating a strong presence of bank-affiliated leasing companies [1][7] - The competitive landscape is characterized by a "stronger getting stronger" phenomenon, with leading institutions expanding their market share while smaller firms seek differentiation [1][10] Company Performance - As of the end of 2024, the top three financial leasing institutions by total assets are: - China Merchants Jin Leasing (交银金租) with 443.6 billion yuan - Industrial Bank Jin Leasing (工银金租) with 417.5 billion yuan - National Bank Jin Leasing (国银金租) with 405.9 billion yuan [2][3] - China Merchants Jin Leasing achieved a revenue of 32.172 billion yuan, a year-on-year increase of 9.69%, and a net profit of 4.37 billion yuan, also up by 9.02% [3] - Industrial Bank Jin Leasing experienced a significant asset growth of 50.21%, indicating a leap in its development [4][8] Market Trends - The financial leasing market is witnessing a clear division into two tiers based on asset size, with the top tier consisting of institutions with over 300 billion yuan in assets [7][10] - The overall market is characterized by a focus on specialization and differentiation, with institutions actively expanding into niche markets such as aviation, energy, and green leasing [6][10] - The competitive pressure on smaller institutions is increasing, leading to a more pronounced differentiation in performance among leasing companies [10] Institutional Insights - China Merchants Jin Leasing has solidified its position as the industry leader, while Industrial Bank Jin Leasing and National Bank Jin Leasing continue to compete closely [2][3] - National Bank Jin Leasing's asset size decreased by 0.94% year-on-year, reflecting challenges in maintaining its competitive edge [5][8] - China Merchants Jin Leasing's dominance in the shipping sector, with a fleet of 471 vessels and 157.056 billion yuan in shipping assets, underscores its strategic focus [3][5]

Core Insights - The article emphasizes the importance of accurate documentation for financing lease operations in bonded zones to enhance customs efficiency and tax compliance [1][3][4] Group 1: Financing Lease Operations in Bonded Zones - The "domestic outside" nature of bonded zones allows for deferred payment of customs duties and VAT on leased equipment, significantly reducing the working capital requirements for companies [1][3] - Companies must adhere to the regulations outlined in the "Management Measures for Financing Lease Business in Customs Special Supervision Areas," particularly regarding projects with lease terms exceeding three years, which require a rental payment plan submitted to local customs [3] Group 2: Key Operational Considerations - Accurate registration of leased equipment information is crucial, including the use of unique identifiers like factory numbers to prevent delays and losses due to incorrect information [3] - The bank guarantee for tax payments should cover 110% of the total rental amount to account for potential duties, VAT, and penalties [3] - Lease contracts must include clauses for residual value handling to avoid disputes during customs valuation, with recommendations to follow international standards for depreciation calculations [3] Group 3: Technological Innovations and Compliance - The trial of a "blockchain + financing lease" customs model in Guangzhou Nansha Bonded Port Area aims to improve customs efficiency by allowing companies to upload electronic label information for automatic comparison with customs data [4] - Companies are encouraged to establish a dynamic declaration mechanism, as seen with an airline that successfully paused rental payments during maintenance through a pre-declaration system, yielding significant economic benefits [4] - A comprehensive risk control system from contract negotiation to end-of-term disposal is essential for compliance management in financing lease operations within bonded zones [4]