Group 1 - The company announced the election of Xu Jingquan as the chairman of the board, effective from September 30, 2025 [1] - Zhang Jian has resigned from multiple positions including chairman, non-executive director, and various committee roles, effective from September 30, 2025 [1] - The board has recommended the appointment of Xu Zhengwen as a non-executive director and as a member of the audit committee upon the effectiveness of his directorship [1]

Core Points - Bocom Leasing Management Hong Kong Company Limited announced a medium-term note program with a total value of $10 billion [2] - The program is set to be listed on the Hong Kong Stock Exchange for a period of 12 months starting from September 30, 2025 [2] - The notes will be issued only to professional investors as defined by the Hong Kong Stock Exchange's listing rules [2] - Bank of Communications Financial Leasing Co., Ltd. will provide a maintenance agreement and asset purchase contract for this issuance [2] - The issuance has been entrusted to Bank of Communications and HSBC as dealers [2]

Core Viewpoint - Zhongguancun Science and Technology Leasing (01601) has entered into financing lease agreements with Zhejiang Dongjiang Energy Technology Co., Ltd., involving significant financial transactions for leasing assets [1] Group 1: Financing Lease Agreements - The company has signed Financing Lease Agreement II with Zhejiang Dongjiang Energy Technology Co., Ltd., involving the purchase of leasing asset II for RMB 42 million and a total lease payment of approximately RMB 44.671 million over a 24-month period [1] - The total lease payment includes financing lease principal of RMB 42 million and financing lease interest income (including VAT) of approximately RMB 2.671 million [1] - In the past twelve months, the company also entered into Financing Lease Agreement I, purchasing leasing asset I for RMB 49 million, with a total lease payment of approximately RMB 52.0114 million over a 24-month period [1] Group 2: Asset Details - Leasing asset I consists of biodiesel production equipment with a book value of approximately RMB 49.1582 million [1] - Leasing asset II is an industrial mixed oil production line with a book value of approximately RMB 43.7308 million [1]

Core Viewpoint - Zhongguancun Science and Technology Leasing (01601.HK) has entered into a financing lease agreement with Zhejiang Dongjiang Energy Technology, involving a total transaction value of approximately RMB 44.67 million [1] Group 1: Financing Lease Agreement - The company will purchase leasing assets from the lessee for a transfer price of RMB 42 million [1] - The lease term is set for 24 months, with total lease payments amounting to approximately RMB 44,670,994, which includes the principal of RMB 42 million and interest income (including VAT) of about RMB 2,670,994 [1]

Core Viewpoint - Zhongguancun Science and Technology Leasing (01601) has entered into a financing lease agreement with Beijing Yidian Tao Network Technology Co., Ltd., which is expected to generate revenue and profit for the company during the lease term [1] Summary by Sections - **Financing Lease Agreement Details** - The company will purchase leasing assets from the lessee for a total price of RMB 36.8 million [1] - The lease term is set for 36 months, with total lease payments amounting to approximately RMB 39.81 million, which includes the principal of RMB 36.8 million and interest income (including VAT) of about RMB 3.01 million [1] - **Asset Information** - The leasing asset consists of computers with a book net value of approximately RMB 42.14 million [1] - **Management's Perspective** - The board believes that entering into this financing lease agreement aligns with the company's business development strategy and is in the overall interest of the company and its shareholders [1]

Core Viewpoint - Zhongguancun Science and Technology Leasing (01601) has entered into a financing lease agreement with Beijing Yidian Tao Network Technology Co., Ltd., which is expected to generate revenue and profit for the company during the lease term [1] Summary by Relevant Sections - **Financing Lease Agreement**: The company will purchase leasing assets from the lessee for RMB 36.8 million and lease them back for a total lease payment of approximately RMB 39.81 million over a 36-month period, which includes principal and interest income [1] - **Leasing Assets**: The leased asset is a computer with a book value of approximately RMB 42.14 million [1] - **Business Strategy Alignment**: The board believes that the financing lease agreement aligns with the company's business development strategy and is fair and reasonable, benefiting the company and its shareholders [1]

Report Industry Investment Rating No relevant information provided. Core Viewpoints - After the Fed cut interest rates in September, the U.S. Treasury yields have risen for two consecutive weeks. The better - than - expected economic growth and employment data have reduced the need for the Fed to cut interest rates significantly and decreased market expectations for subsequent rate cuts, pushing up the U.S. Treasury yields [1][2]. - The negotiation deadlock between the Republican and Democratic parties over the government financing legislation draft may lead to a U.S. government shutdown in October. However, the market has largely priced in this situation, and the impact on the bond market is expected to be minor [1][3]. - Although the U.S. dollar risk - free rate continued to rise last week, Chinese - funded U.S. dollar bonds were still supported by the narrowing spread and showed general stability. In the on - shore market, due to the approaching National Day holiday and the end of the quarter, the pressure on inter - bank liquidity increased, pushing up short - term interest rates. After the National Day holiday, the pressure on inter - bank funds is expected to ease, which will drive down short - term Treasury yields [1][3][4]. Summary by Related Catalogs Offshore Market - Last week, there were 6 new issuances of Chinese - funded U.S. dollar bonds exceeding $100 million, totaling approximately $1.4 billion, mainly financial bonds and urban investment bonds. Offshore RMB bonds had new issuances of about RMB 61 billion, mainly driven by the issuance of RMB 60 billion central bank bills by the People's Bank of China [2]. - The 10 - year and 2 - year U.S. Treasury yields rose 5 and 7 basis points respectively to 4.18% and 3.64% last week. The U.S. second - quarter real GDP annualized quarterly - on - quarter final value increased by 3.8%, the fastest growth rate in nearly two years. As of the week ending September 20, the number of initial jobless claims in the U.S. decreased by 14,000 to 218,000, the lowest level since July [2]. - The Bloomberg Barclays Chinese - funded U.S. dollar bond total return index fell slightly by 0.1% last week, with the spread narrowing by 2 basis points. Among them, the high - rating index fell 0.1%, and the spread narrowed by 3 basis points; the high - yield index remained flat, and the spread was basically unchanged [3]. On - shore Market - Last week, the People's Bank of China net - withdrew short - term liquidity of RMB 822.3 billion through reverse repurchase maturities and net - injected long - term funds of RMB 30 billion through MLF renewals. The 7 - day deposit - type institutional pledged repurchase weighted average rate and the 7 - day inter - bank pledged repurchase weighted average rate rose 5 and 12 basis points respectively to 1.56% and 1.64%. The 3 - year and 10 - year Treasury yields rose 2 basis points and remained flat respectively at 1.54% and 1.88% [4]. Recent New Issuances of Chinese - funded U.S. dollar Bonds - Newly issued bonds include those from companies such as New Metro Global Limited, Longkou Urban Construction Investment and Development Co., Ltd., and Ping An Insurance Overseas (Holding) Company Limited, with different coupon rates, issuance amounts, and ratings [6]. Appendix: List of Chinese - funded U.S. dollar Bonds - The appendix provides detailed information on a large number of Chinese - funded U.S. dollar bonds, including issuers, guarantors, coupon rates, issuance amounts, prices, ratings, etc. The issuers cover banks, state - owned enterprises, and urban investment companies [18][20].

格隆汇9月29日丨友联国际教育租赁(01563.HK)发布公告，2025年9月29日，出租人(即友联国际融资租 赁(深圳)有限公司，公司的全资附属公司)拟与承租人(即龙口安泰物流有限公司)订立融资租赁协议，据 此(i)出租人同意以代价人民币1700万元向承租人购买租赁资产；及(ii)出租人同意向承租人出租租赁资 产，租期为三十六个月，租赁总额约为人民币1847.1万元，即租赁本金及租赁利息的总和。租赁资产包 括承租人的物流和品质控制设备。 ...

Core Viewpoint - The company has entered into three financing lease agreements with Xinjiang Petroleum Energy Service Co., Ltd., which are expected to generate revenue and profit over the lease terms, aligning with the company's business development strategy [1][2]. Group 1: Financing Lease Agreements - On September 26, 2025, the company signed Financing Lease Agreement I, involving the purchase of leasing asset I for RMB 16 million, with a total lease payment of approximately RMB 17.0664 million over a 36-month period [1]. - Financing Lease Agreement II was also signed on the same date, with the company purchasing leasing asset II for RMB 25 million, resulting in a total lease payment of approximately RMB 26.6662 million over 36 months [1]. - Financing Lease Agreement III was established on September 26, 2025, with the company acquiring leasing asset III for RMB 29 million, leading to a total lease payment of approximately RMB 30.9328 million over 36 months [2]. Group 2: Asset Details - Leasing asset I consists of oil extraction equipment such as mud pumps, with a book value of approximately RMB 16.0274 million [2]. - Leasing asset II includes variable frequency drive drilling rigs, with a book value of approximately RMB 25.8396 million [2]. - Leasing asset III comprises top drives, with a book value of approximately RMB 29.0124 million [2]. Group 3: Management Perspective - The board believes that the financing lease agreements will provide income and profit during the lease terms, and they are based on normal commercial terms, deemed fair and reasonable for the company and its shareholders [2].

Group 1 - The core point of the article is that XunDa (SZ 300518) held its 31st meeting of the 5th board of directors on September 26, 2025, to discuss changes in its business scope and amendments to the company’s articles of association [1] - For the year 2024, XunDa's revenue composition is as follows: 91.79% from the internet industry, 7.12% from leasing, and 1.09% from the new energy sector [1] - As of the time of reporting, XunDa has a market capitalization of 2.6 billion yuan [1]