12月26日，海德股份涨5.77%，截至发稿，报6.97元/股，成交1.35亿元，换手率1.03%，总市值136.24亿 元。 资料显示，海南海德资本管理股份有限公司位于北京市海淀区首体南路22号国兴大厦三层,海南省海口 市秀英区长滨东三街5号首东逸海国际广场写字楼大厦25层，成立日期1987年3月2日，上市日期1994年5 月25日，公司主营业务涉及不良资产经营管理。主营业务收入构成为：资产管理86.95%，其他 10.89%，金融科技服务2.17%。 从海德股份十大流通股东角度 数据显示，南方基金旗下1只基金位居海德股份十大流通股东。南方中证1000ETF（512100）三季度减 持3.25万股，持有股数537.02万股，占流通股的比例为0.28%。根据测算，今日浮盈赚取约204.07万元。 南方中证1000ETF（512100）基金经理为崔蕾。 截至发稿，崔蕾累计任职时间7年51天，现任基金资产总规模1227.6亿元，任职期间最佳基金回报 198.81%， 任职期间最差基金回报-15.93%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预 ...

根据公司上半年财报，虽然受经济环境影响，处置规模有所下滑，但收购规模持续增长，或酝酿上行周 期弹性。2025年上半年，公司持续聚焦不良资产市场，巩固主业优势，收购经营类不良债权资产规模同 比增加。处置收益率维持相对低位。2025年H1收购经营业务内部收益率8.7%，去年全年在8.9%。 智通财经APP获悉，广发证券发布研报称，中国信达(01359)参与中金公司与信达证券的合并交易，预计 紧随交割后，公司将不再持有任何信达证券A股，并将收取13亿股中金A股。该公司主业方面，上半年 收购经营类不良资产规模同比增长，但收益率维持在低位；收购重组业务继续有序收缩。整体不良资产 管理业务保持稳健，投资投放增加且资产质量夯实。给予"增持"评级，目标价1.89港元。 广发证券主要观点如下： 中国信达披露有关拟议合并的可能非常重大出售事项及非常重大收购事项公告 （1）结构变更：于公告日期，中国信达持有26亿股信达证券A股，占信达证券约78.67%股权。预计紧 随交割后，公司将不再持有任何信达证券A股，并将收取13亿股中金A股，占中金公司约16.71%股权 （按扩大后的持股比例计算）。 （2）影响：拟议合并预计将为中国信达带来 ...

《金融时报》记者：《建议》就加快建设金融强国等作出重要部署，提出"丰富风险处置资源和手段， 构建风险防范化解体系，保障金融稳健运行"，请您谈一谈学习体会。 张国建：防范和化解金融风险特别是防止发生系统性金融风险，是金融工作的根本性任务，也是金融工 作的永恒主题。《建议》就加快建设金融强国作出重要部署，提出"丰富风险处置资源和手段，构建风 险防范化解体系"，为新时代新征程进一步做好金融工作、防范化解金融风险、推动金融高质量发展指 明了方向，提供了根本遵循。 在具体工作中，我们深深体会到加强党中央对金融工作的集中统一领导，是做好金融风险防范和化解工 作的根本保证。贯彻落实"丰富风险处置资源和手段，构建风险防范化解体系"决策部署，一是要把握好 权和责的关系，健全权责一致、激励约束相容的风险处置责任体系。二是要把握好快和稳的关系，在稳 定大局的前提下把握时度效，扎实稳妥化解风险。三是要把握好防和灭的关系，全面加强监管，加强风 险源头管控，健全具有硬约束的金融风险早期纠正机制，抓前端、治未病，对风险早识别、早预警、早 发现、早处置。四是要坚决惩治违法犯罪和腐败行为，强力追赃挽损，依法追责问责，严防道德风险。 防范化解金 ...

Core Viewpoint - The official operation of the Hainan Free Trade Port will commence on December 18, 2025, leading to increased market attention on local financial institutions, particularly Haide Co., which has demonstrated confidence through significant share buybacks [1][2]. Group 1: Company Actions and Confidence - Haide Co.'s management has completed a share buyback plan, totaling 20.85 million yuan, exceeding the original target [1]. - The share buyback involved 22 individuals, including directors and executives, with a voluntary lock-up period of six months, indicating a strong alignment of management interests with long-term company performance [3]. Group 2: Business Fundamentals and Market Position - Haide Co. is the only financial listed company in Hainan, with a strong focus on non-performing asset management (AMC), where 86.95% of its revenue comes from asset disposal as of mid-2025 [2]. - The company has established a solid foundation for future market changes post-free trade port operation, particularly in energy and listed companies, ensuring stable long-term revenue [2]. - The individual loan non-performing asset segment shows significant growth potential, with a total of approximately 16.876 billion yuan in non-performing loans, positioning the company among the industry leaders [2]. Group 3: Strategic Planning and Governance - The company has developed a systematic "2025 Investor Relations Management Plan" to enhance communication with the capital market through various channels, reflecting a commitment to investor relations [3]. - Post-free trade port operation, Haide Co. aims to leverage its capital operation and local advantages to participate in the restructuring and revitalization of distressed assets in Hainan [3].

本报讯(记者李雯珊)近日，海南海德资本管理股份有限公司(以下简称"海德股份（000567）")发布公 告，公司董事、监事、高级管理人员及其他管理人员共22人，自2025年5月6日起6个月内，通过集中竞 价方式增持公司股份累计3017452股，占公司总股本约0.1544%，合计增持金额人民币2085.48万元。这 是自2019年以来，公司管理层第三次增持公司股票。本次增持在完成后，增持主体承诺6个月内不减持 所增持股份。 在2019年、2023年初，海德股份公司董事、监事、高管及员工和控股股东及所属企业核心管理人员通过 二级市场集中竞价的方式合计增持公司股份366万股，增持金额超过6200万元。时隔不到三年，公司董 事、监事、高级管理人员及其他管理人员再次主动增持，表明该公司管理层对公司战略方向、业务发展 和经营前景具备强烈信心。通过实质性持股投入，管理层将自身利益与公司及全体股东利益紧密捆绑， 进一步提升内部执行力与一致性。 近年来，海德股份在自身所在行业中不断深耕，优化业务结构、夯实创新能力、强化内控与治理水平。 面对广阔的市场机遇，海德股份持续以科技创新与战略布局提升竞争力。公司与蚂蚁集团合作打造 的"海 ...

Core Insights - The company reported a significant increase in cash flow, with net cash flow from operating activities reaching 1.267 billion yuan, a year-on-year growth of 782.20% [1][2] - The company focuses on distressed asset management, particularly in the area of listed company rescue, establishing a differentiated competitive advantage [1][2] Financial Performance - For the first three quarters, the company achieved operating revenue of 457 million yuan and a net profit attributable to shareholders of 171 million yuan, maintaining profitability [1] - The company has a balance of 686 million yuan in distressed asset projects as of June 2025, providing a flexible support for future performance growth [1][2] Business Strategy - The company employs a full-chain operational capability through various methods such as restructuring and value enhancement, creating a closed loop of "risk resolution - value restoration - quality improvement" [1] - An example of successful intervention is the case of Hailun Zhe, where the company became the largest shareholder in 2022, helping to mitigate delisting risks and optimize its main business layout, resulting in over 28% year-on-year growth in revenue and net profit for the first three quarters of 2025 [1] Industry Context - The distressed asset market in China is currently expanding, with an expected industry disposal scale of 3.8 trillion yuan in 2024 [2] - The company benefits from the upcoming closure of the Hainan Free Trade Port and the gradual release of policy dividends related to cross-border distressed asset disposal and financial opening [2] - Industry experts suggest that the company's leading rescue capabilities, ample project reserves, and geographical advantages position it well for sustained operational performance improvement and further consolidation of its leading position in the industry [2]

Core Viewpoint - The investigation into Wang Guangxi, the controlling shareholder of Yongtai Energy and Hailun Zhe, is linked to his role in Haide Co., which has raised concerns regarding information disclosure violations [1][2]. Group 1: Company Announcements - Yongtai Energy and Hailun Zhe both announced that the investigation concerning Wang Guangxi is unrelated to their operations and will not impact their business activities [3]. - Yongtai Energy emphasized that its production and operations are stable and that it has a positive development outlook [3]. - Hailun Zhe stated that it currently has no controlling shareholder and that its operations remain normal [3]. Group 2: Background on Wang Guangxi - Wang Guangxi, born in October 1969, has a background in finance and investment, having previously worked in various institutions before founding Yongtai Group, which became a major private coal enterprise in Shanxi [3]. - He transformed Haide Co. from textiles and real estate into a platform focused on asset management, enhancing its industry influence [3][4]. Group 3: Financial Performance - As of November 28, Haide Co. has a total market value of 150.89 billion yuan, with a significant decline in revenue and net profit reported for the first three quarters of 2025 [5]. - Haide Co.'s revenue decreased by 46.54% to 457 million yuan, and net profit fell by 66.96% to 171 million yuan compared to the previous year [5]. Group 4: Regulatory Actions - The Hainan Securities Regulatory Bureau issued a warning to Haide Co. and Wang Guangxi in April for failing to disclose related party transactions involving fund occupation [7][8]. - The investigation revealed that as of December 31, 2024, 884 million yuan was occupied by the controlling shareholder or its affiliates, which was later recovered [8].

每经记者｜蔡鼎 每经编辑｜段炼 魏官红 11月28日晚间，永泰能源（SH600157，股价1.61元，市值351.27亿元）和海伦哲（SZ300201，股价6.10元，市值61.55亿元）均公告重要股东王广西被立 案。两家公司均称立案事项与王广西为实控人的海德股份（SZ000567，股价7.72元，市值150.89亿元）有关。 同日晚间，海德股份也发布了相关公告，称因涉嫌信披违法违规，中国证监会决定对公司及实控人王广西进行立案调查。 永泰能源、海伦哲急忙"撇清关系" 永泰能源公告显示，本次立案所涉主体为公司实控人，涉及事项与公司无关，不会对公司经营决策和正常生产经营活动产生任何影响。因董事长、实控人 个人涉及非公司的立案事项，公司按照上市公司信披规定进行公告。 "本公司目前生产经营正常且稳定，发展前景良好。"永泰能源在公告中补充称。 海伦哲公告则显示，王广西为公司第一大股东之控股股东的实控人。公司同时强调，所涉事项与公司无关，不会对公司的日常经营和业务活动产生影 响。"公司目前无控股股东及实际控制人，按照上市公司信息披露规定而进行公告。公司目前生产经营一切正常⋯⋯"海伦哲补充称。 资料显示，王广西于1969年 ...

截至11月28日收盘，海德股份总市值150.89亿元。据公司2025年半年报，其主要布局在熟悉和擅长的底 层资产为能源、上市公司等业务领域，或者具有确定性的特殊机遇业务，通过重组、重整、盘活、纾 困、提质、增效、赋能、处置等多种手段化解不良资产、提升价值，与其他资管公司错位竞争。2025年 前三季度，海德股份营收同比下滑46.54%至4.57亿元，归母净利润同比下滑66.96%至1.71亿元。 登录新浪财经APP 搜索【信披】查看更多考评等级 每经记者｜蔡鼎 每经编辑｜魏官红 11月28日晚间，永泰能源（SH600157，股价1.61元，市值351.27亿元）和海伦哲（SZ300201，股价6.10 元，市值61.55亿元）均公告重要股东王广西被立案。两家公司均称立案事项与王广西为实控人的海德 股份（SZ000567，股价7.72元，市值150.89亿元）有关。 同日晚间，海德股份也发布了相关公告，称因涉嫌信披违法违规，中国证监会决定对公司及实控人王广 西进行立案调查。 永泰能源、海伦哲急忙"撇清关系" 永泰能源公告显示，本次立案所涉主体为公司实控人，涉及事项与公司无关，不会对公司经营决策和正 常生产经营活动 ...

当前全球经济风险交织、形势复杂，金融机构面临的挑战愈发多样。不良资产管理模式也正经历一场深 刻变革——从过去"等风险暴露后再去处理"的被动模式，转向"提前识别风险、主动优化结构"的新模 式。国家金融监督管理总局（下称"金融监管总局"）成立后，不断完善风险化解体系，推动金融机构的 治理方式走向科技化、智能化，也更加注重各方协同。作为维护金融稳定的重要力量，金融资产管理公 司（AMC）正成为防范和化解金融风险的"压舱石"。 科技让不良资产管理更高效透明 二是人工清收主导、效率低下。在许多机构中，清收决策仍依赖工作人员个人经验和关系网络，缺乏基 于数据模型的风险判断。债务人的财务状况、信用行为、舆情信息往往没有形成系统化分析。清收结果 受人为因素影响大，"靠人办事"的现象依旧突出。 三是资产估值缺乏统一标准。不同类型的债权（担保、代偿、抵债等）在估值时缺少统一框架。部分机 构未能充分考虑风险等级、区域差异、时间因素和现金流预期，导致定价偏差大，资产包在转让或重估 过去二十年，AMC行业经历了三个阶段：最初以政策引导为主，集中接收银行不良资产；随后进入以 市场化经营为导向的阶段；如今，正迈向以数字化、智能化为核心的新 ...