据证券之星公开数据整理，近期海德股份（000567）发布2025年中报。根据财报显示，海德股份净利润 同比下降61.11%。截至本报告期末，公司营业总收入3.37亿元，同比下降42.81%，归母净利润1.47亿 元，同比下降61.11%。按单季度数据看，第二季度营业总收入1.17亿元，同比下降52.36%，第二季度归 母净利润4999.11万元，同比下降65.47%。 本次财报公布的各项数据指标表现一般。其中，毛利率99.14%，同比减0.17%，净利率42.86%，同比减 31.58%，每股净资产2.75元，同比增1.88%，每股经营性现金流0.46元，同比增1870.33%，每股收益0.08 元，同比减61.12% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 5.9亿 | 3.37亿 | -42.81% | | 归母净利润（元） | 3.78亿 | 1.47 Z | -61.11% | | 扣非净利润(元) | 3.5亿 | 1.33亿 | -62.14% | | 货币资金(元) | 7757.95万 | ...

截至发稿，海德股份市值为133亿元。 （记者 王晓波） 每经AI快讯，海德股份（SZ 000567，收盘价：6.83元）8月25日晚间发布公告称，公司第十届第十五次 董事会会议于2025年8月25日在北京市海淀区首体南路22号国兴大厦三层会议室召开。会议审议了《公 司2025年半年度报告全文及摘要》等文件。 每经头条（nbdtoutiao）——A股成交连续8天破2万亿元，券商招聘也来了！行业巨头秋招"求才"，25个 岗位都有什么特点？ 2024年1至12月份，海德股份的营业收入构成为：金融业-不良资产处置占比90.63%，其他业务占比 7.43%，金融业-金融科技服务占比1.93%。 ...

"在不良资产处置进入深水区的当下，标准化与场景化必须并行。"一位参与本轮交易的投资方代表给出了这样的判断。近日，专注不良资产全链条运营的赚 多啦宣布完成新一轮融资，总额2100万元人民币。本轮由都会金融主导推进，信联商会提供产业协同与机构联络支持，揽虹有限公司以战略股东身份入股， 三方在资金供给、区域资源和治理体系上形成合力，为赚多啦的全国化布局与精细化运营注入持续动能。公开信息显示，揽虹有限公司为国友不良资产处置 有限公司旗下企业，长期深耕区域项目落地与产业协同，熟悉地方治理结构与司法执行生态，其加入被视为提升项目落地确定性的重要一环。 赚多啦面向银行、信托、资产管理公司、地方金融机构以及大型企业，提供覆盖"资产获取、尽职调查、价值判断、处置与重组、司法执行、退出与复盘"的 一体化方案，资产谱系涵盖信用卡与消费类小额分散债权、按揭与对公抵押类不良、企业应收账款债权、司法执行与拍卖标的、破产与重整项目等。公司围 绕"可回收性、法律状态、信息完备度、潜在产业承接度"等维度建立刻面化评估方法，对不同类型资产分层分级后匹配差异化路径：对流动性强、周期短的 标的，走批量化的快速回款通道；对权属复杂但具再经营价值的资产 ...

Core Viewpoint - The report by JLL highlights that China's non-performing assets (NPAs) are at a pivotal point for value reconstruction, indicating significant investment potential in this sector [1] Industry Overview - The National Financial Regulatory Administration estimates that banks will dispose of over 3 trillion yuan in non-performing assets in 2024 [1] - According to the 2025 China Financial Non-Performing Asset Market Survey Report by Dongfang Asset, the NPA market is expected to show a trend of "stable growth in total volume and continuous structural adjustment" [1] - National financial asset management companies are expected to lead local debt disposal under supportive debt reduction policies, with a projected 30% increase in the volume of NPAs they handle by 2025 [1] Investment Opportunities - The NPA sector is not merely "negative assets" but may represent undervalued value carriers, suggesting a need to broaden the definition of NPAs and focus on "non-negative assets" [1] - The restructuring of debts and the separation of debt and equity from underlying assets can reveal valuable components within NPAs, making them worthy of investment [2] - Innovative approaches such as NPA funds and asset securitization are gaining traction, presenting new opportunities for investment compared to traditional methods like debt-to-equity swaps and principal and interest recovery [2][3] Market Dynamics - The NPA industry exhibits a notable characteristic of "counter-cyclical acquisition and pro-cyclical sale," where the best time to acquire is during market downturns when asset prices are undervalued, and the optimal time to sell is during economic recovery when asset prices rise [3][4] - Emerging investment groups, such as family offices, are increasingly entering the NPA investment space, indicating a growing interest in this sector [4] Future Directions - JLL plans to further explore the classification and valuation strategies of NPAs, as well as disposal strategies, in collaboration with market participants to uncover the potential value of NPAs [4]

Core Viewpoint - The financial performance of CITIC Financial Asset Management Co., Ltd. for the fiscal year 2024 has significantly exceeded market expectations, indicating a successful transformation and a return to high-quality development [1][2]. Financial Performance - For the year ending December 31, 2024, CITIC Financial Asset reported total revenue of 112.766 billion yuan, a 60% increase year-on-year, and a net profit attributable to shareholders of 9.618 billion yuan, which is 5.4 times that of the previous year [1]. - The total assets at year-end reached 984.329 billion yuan, an increase of 16.225 billion yuan from the previous year, with an average return on equity rising by 14.8 percentage points to 18.4% [1]. - The company achieved a 53.5% growth in revenue from continuing operations, with core financial indicators surpassing capital market expectations [1]. Business Strategy and Structure - CITIC Financial Asset has fully divested from financial services, focusing on non-performing asset management and asset management and investment divisions, which now drive its operations [3]. - The non-performing asset management business generated 90.671 billion yuan in revenue, accounting for 84.4% of total revenue, with assets in this division totaling 833.185 billion yuan, representing 86.7% of total assets [3]. Market Position and Growth - The company maintains a leading market position in the non-performing asset sector, with a debt balance of approximately 180 billion yuan in non-performing asset claims and a market share that remains among the top in the industry [4]. - CITIC Financial Asset has improved its asset quality and risk resistance, with a 30% reduction in non-performing asset balance and a doubling of the provision coverage ratio to 226% [4]. Social Responsibility and Strategic Support - The company plays a crucial role in supporting national policies, contributing to financial risk prevention and economic stability, while also achieving economic and social value [5]. - CITIC Financial Asset has actively participated in initiatives to alleviate financial distress in the real estate sector, ensuring the delivery of 66,000 housing units and addressing wage arrears for migrant workers [5]. Industry Outlook - The current economic environment presents significant opportunities for asset management companies (AMCs) to expand their non-performing asset acquisition business, driven by ongoing risks in various sectors [7]. - Regulatory policies are encouraging AMCs to broaden their scope, enhancing their capabilities in acquiring, managing, and disposing of non-performing assets [7]. Market Response - The capital market has responded positively to CITIC Financial Asset's new brand image, with a 62.5% increase in stock price and active trading volume exceeding 100 million shares over ten consecutive trading days [8]. - The inclusion of CITIC Financial Asset in multiple Hang Seng indices is expected to diversify fund allocations and attract more capital, particularly from southbound funds [8].

Core Viewpoint - The successful acquisition and restructuring of a 300 MW photovoltaic power project by CITIC Financial Assets in Ningxia demonstrates the company's commitment to supporting the development of the renewable energy sector and contributing to the national "dual carbon" strategy [3][4]. Group 1: Project Acquisition and Restructuring - CITIC Financial Assets Ningxia branch acquired nearly 1.9 billion yuan in debt from a struggling photovoltaic power company, facilitating its bankruptcy restructuring and revitalizing the 300 MW project [3]. - The company implemented a multi-faceted approach to address the challenges faced by the photovoltaic company, including acquiring core assets, engaging with the court, and introducing professional management for the restructuring process [3][4]. Group 2: Economic and Environmental Impact - Post-restructuring, the photovoltaic power station is expected to generate over 450 million kWh of renewable energy annually, reducing carbon emissions by 350,000 tons and saving approximately 135,000 tons of standard coal [4]. - The annual revenue of the company is projected to exceed 300 million yuan, with both carbon savings and revenue increasing by over 30% compared to pre-restructuring levels [4]. Group 3: Broader Implications and Achievements - The successful revitalization of the asset is part of CITIC Financial Assets' broader efforts to support ecological protection and high-quality development in the Yellow River basin [4]. - The company has also facilitated significant risk resolution for other financial institutions, ensuring the protection of investors' rights and maintaining social stability in the region [4][5]. - CITIC Financial Assets has developed a replicable business model combining bankruptcy restructuring with industrial upgrading, enhancing its financial service brand and receiving recognition from local governments and central enterprises [5].