期服务模式，在债券市场风险管理领域开创了可复制推广的创新模式。 数据显示，"十四五"时期，公司累计债券增信规模超过600亿元，投资各类债券近300亿元，债券交易规 模超7000亿元，助力企业发行各类债券超2000亿元，为企业节约融资成本超10亿元。此次入选金融创新 优秀案例，是对公司长期以来扩大债券融资规模、防范化解区域信用风险、服务实体经济发展的认可和 肯定。 陕西增信方面表示，接下来公司还将继续立足使命定位，发挥债券市场基础设施功能作用，做好金 融"五篇大文章"，在扩大直接融资、降低融资成本、维护市场稳定、化解金融风险等方面展现新作为， 为债券市场高质量发展贡献更大力量。(秦声) 11月18日，由证券时报社主办的第二十届中国经济论坛暨2025大湾区科技与金融创新发展大会在广州举 行。会上，"十四五"金融创新优秀案例报告正式发布，该报告汇聚"十四五"时期具有示范效应的金融科 技创新成果，旨在推动金融支持实体经济与科技创新，为"十五五"规划提供来自一线的实践参考和决策 依据。其中"陕西增信打造债券市场全生命周期服务模式"成功入选生态创新案例。 作为陕西金融资产管理股份有限公司"一体两翼"中致力于债券市场风险管 ...

中原资产表示，本次业务有利于优化河南区域金融生态环境，对公司经营发展、财务状况和偿债能力产生积极影响。 今年8月7日，中原资产与平顶山鹰城农商银行签署《不良资产转让协议》，后者向中原资产转让不良资产，转让价款为19.47亿元。今年6月29日，中原 资产还与中原信托达成协议，受让后者转让价款17.2亿元的债权。去年9月4日，中原资产与郑州银行达成协议，后者向中原资产出售信贷资产及其他资 产，转让价款为100亿元，将以50亿元的现金及合计价值为50亿元的信托受益权方式支付。 近日，河南省的地方资产管理公司（以下简称AMC）接盘了省内三家农商行出让的不良资产，合计转让价款超52亿元。 2024年以来，监管政策着力引导AMC参与中小金融机构等重点领域的风险化解工作，地方AMC的重要性愈发凸显，且业务空间较大。据国家金融监督 管理总局披露，2024年我国银行业全年处置不良资产超3万亿元。 《每日经济新闻》记者注意到，截至2025年三季度末，我国商业银行不良贷款余额为35224.78亿元，较年初增加2432.85亿元；商业银行不良贷款率为 1.52%，较年初上涨0.02个百分点。 河南地方AMC今年出手频繁 近日，中原资 ...

Core Viewpoint - Haide Co., Ltd. experienced a stock price increase of 5.24% on November 20, reaching 7.83 CNY per share, with a trading volume of 185 million CNY and a turnover rate of 1.26%, resulting in a total market capitalization of 15.304 billion CNY [1] Group 1: Company Overview - Haide Capital Management Co., Ltd. was established on March 2, 1987, and listed on May 25, 1994. The company is primarily engaged in the management of non-performing assets [1] - The revenue composition of Haide Co. includes 86.95% from asset management, 10.89% from other services, and 2.17% from financial technology services [1] Group 2: Shareholder Information - Among the top ten circulating shareholders of Haide Co., Huaxia Fund holds a position through the Huaxia CSI 1000 ETF (159845), which reduced its holdings by 8,300 shares in the third quarter, now holding 3.1872 million shares, representing 0.16% of circulating shares [2] - The Huaxia CSI 1000 ETF has a current scale of 45.469 billion CNY and has achieved a year-to-date return of 25.4%, ranking 1921 out of 4208 in its category [2] Group 3: Fund Manager Performance - The fund manager of Huaxia CSI 1000 ETF is Zhao Zongting, who has been in the position for 8 years and 220 days. The total asset scale under his management is 355.865 billion CNY [3] - During his tenure, the best fund return achieved was 121.58%, while the worst return was -32.63% [3]

Core Viewpoint - Hunan Silver (002716.SZ) announced that its shareholder, China Great Wall Asset Management Co., Ltd. (referred to as "Great Wall Asset Management"), plans to reduce its holdings in the company by up to 55 million shares, representing 1.95% of the total share capital, within a three-month period from December 11, 2025, to March 10, 2026 [1] Summary by Category - **Shareholder Action** - Great Wall Asset Management intends to reduce its stake in Hunan Silver through centralized bidding and block trading methods [1] - The planned reduction will not exceed 55 million shares [1] - **Impact on Company** - The reduction represents 1.95% of Hunan Silver's total share capital [1] - **Timeline** - The reduction period is set from December 11, 2025, to March 10, 2026 [1]

招聘会现场，中国长城资产、通用技术集团、瑞众人寿保险、公安部大数据中心、天兵科技等企业的展 位前吸引了大量学子驻足咨询。"北大学子的专业素养令人印象深刻，与金融资产管理行业对复合型、 高素质人才的需求高度契合。本次招聘中，我们收到了多份来自经济、法律、信息技术等专业的高质量 简历，为公司人才储备注入了新鲜血液。"中国长城资产招聘负责人说。天兵科技招聘负责人介绍："这 场专场招聘会，极大提升了引才效率，我们不仅与多名北大工学、理学背景的毕业生达成初步意向，还 通过面对面交流，让学子深入了解丰台在航天产业链中的平台优势。"此次招聘活动精准对接丰台区现 代产业体系，释放的岗位聚焦数字经济、人工智能、高端商务等前沿方向，实现了人才供给与区域发展 需求的高效匹配。多位应聘学子表示，招聘会不仅提供了与企业直接对话的机会，更让他们对丰台的产 业生态有了系统性认知，希望能够在丰台发展。 活动现场，丰台区还精心布置了文旅展台，通过非遗展示、戏曲表演、传统服饰体验和"丰台礼物"文创 互动，生动呈现了区域文化魅力，增强了学子对丰台的情感认同，展现了"青年友好生态城区"的软实 力。 转自：北京日报客户端 11月14日，2025年"慧 ...

服务实体经济、防范化解风险是国家设立金融资产管理公司的初衷，也是中信金融资产一直以来践行的 初心。近年来，金融资产管理公司被赋予更大的责任和使命，也迎来更大的机遇和挑战。中信金融资产 依托逆周期调节和金融救助的独特功能，不断提升专业能力、拓展服务边界，打造收购处置、并购重 组、股权投资、特殊债券投资四大业务能力，精准滴灌实体经济，助力科技自立自强，为维护金融稳 定、服务国家战略注入源源不断的金融活水。 作为不良资产行业"国家队""主力军"， 中信金融资产积极投身重点领域风险化解攻坚战。以专业手段 为中小银行、信托、证券等金融机构风险精准"拆弹"，2022年以来，累计收购中小银行不良资产包债权 约2200亿元，成功竞得多个跨区域资产包和大额单体资产，有力增强了金融体系韧性和稳定性。依托中 信集团综合优势，开创中信特色产融协同化险模式，为房地产风险化解"破圈解链"，累计投放纾困项目 93个，总规模559亿元，保障商品房交付7.59万套，带动复工复产项目货值约2630亿元，打造了上海董 家渡、上海壹号院、广西航洋等一批具有市场影响力的标杆项目。 着眼于做好金融"五篇大文章"，中信金融资产持续拓展绿色金融服务，推动能 ...

Core Viewpoint - Financial asset management companies play a unique role in maintaining financial stability, mitigating risks, and promoting healthy economic development, supported by recent regulatory policies aimed at enhancing their capabilities in managing non-performing assets [1][2]. Group 1: Regulatory Environment - The introduction of policies such as the "Management Measures for Non-Performing Asset Business of Financial Asset Management Companies" in 2024 and the "Guiding Opinions on Promoting High-Quality Development of Financial Asset Management Companies" this year aims to guide these companies in focusing on their core responsibilities and improving their professional capabilities in asset acquisition and disposal [1]. - The expansion of the scope of non-performing asset management and the refinement of non-financial business areas are expected to enhance the role of financial asset management companies as financial rescuers and stabilizers in the economy [1]. Group 2: Market Opportunities - The financial asset management sector is presented with significant growth opportunities, with the balance of non-performing loans in commercial banks reaching 3.4 trillion yuan by the end of Q2 2025, indicating a substantial market size for asset management companies [1]. - The current non-performing asset market is characterized by both structural transformation and growth, driven by economic adjustments and an increasingly optimized regulatory environment, leading to diversified asset supply and rising demand for specialized services [2]. Group 3: Competitive Landscape - The non-performing asset market has become increasingly competitive, with a structure comprising "5+2+banking system+N," necessitating financial asset management companies to enhance their competitiveness and expand their core business [2]. - Despite competition, there is a growing trend of collaboration among market participants, which can lead to mutual benefits and improved asset disposal and value enhancement [3]. Group 4: Challenges and Strategic Focus - Financial asset management companies face challenges such as increased market uncertainty, intensified competition, and downward pressure on asset prices, which complicate valuation and disposal processes [3]. - The recent transition of three financial asset management companies into a new phase of reform emphasizes their commitment to functional positioning and strengthening counter-cyclical adjustments, focusing on enhancing their ability to serve the real economy and mitigate financial risks [3].

Core Insights - The event "Identifying Value in Cang" was held by CITIC Financial Asset Management Co., Ltd. in Lincang City, focusing on investment opportunities in special assets [1] - Lincang is a key area for CITIC Financial Asset's operations in Yunnan, with plans to leverage resources for asset revitalization and industrial integration [3] Group 1 - CITIC Financial Asset has accumulated a debt scale exceeding 2 billion yuan in Lincang since 2017, involving over 70 enterprises [4] - The company has completed asset disposals for 26 enterprises, achieving cash recovery of 350 million yuan [4] - The conference highlighted 48 local assets and 10 selected assets from other regions, attracting significant interest from investors [4] Group 2 - Representatives from major financial institutions, government departments, and professional service agencies participated in discussions on special asset investment and industrial integration [6] - The event featured a busy business consultation area where investors engaged with business managers for specific project collaborations [6]

Core Viewpoint - China CITIC Financial Asset Management Co., Ltd. has actively contributed to resolving real estate risks, with a total investment of 55.9 billion yuan in 93 relief projects since 2022, ensuring the delivery of 75,900 residential units and creating influential benchmark projects in the market [1] Group 1: Real Estate Risk Mitigation - The company has leveraged its comprehensive advantages to assist in real estate risk resolution, focusing on key areas since 2022 [1] - A total of 93 relief projects have been launched, with an investment scale of 55.9 billion yuan [1] - The company has ensured the delivery of 75,900 residential units through its initiatives [1] Group 2: Financial System Stability - China CITIC Financial Asset has also provided professional support to small and medium-sized banks, trusts, and securities firms, effectively managing risks [1] - Since 2022, the company has acquired approximately 220 billion yuan in non-performing asset packages from small and medium-sized banks [1] - The company has successfully secured multiple cross-regional asset packages and large single-asset acquisitions, enhancing the resilience and stability of the financial system [1] Group 3: Asset Management and Risk Control - The company has focused on its core business and risk resolution, with nearly 90% of its assets in non-performing asset management [1] - Revenue from this segment has reached 98.3%, an increase of nearly 40% compared to early 2022 [1] - The company has strengthened its risk prevention measures, achieving a reduction in both non-performing balances and non-performing ratios, with a capital adequacy ratio of 15.97% and a provision coverage ratio of 270% [1]

Group 1 - China Cinda plans to reduce its stake in Founder Securities by up to 82.32 million shares, representing 1.00% of the total share capital, between November 26, 2025, and February 25, 2026, potentially cashing out approximately 677 million yuan at the closing price of 8.22 yuan per share on November 4 [1] - As of the announcement date, China Cinda holds about 593 million shares in Founder Securities, accounting for 7.20% of the total share capital, making it the third-largest shareholder [1] - The shares were acquired through a debt settlement process in 2020, where China Cinda became the beneficiary of 710 million shares originally held by Zhengquan Holdings [1] Group 2 - China Cinda's frequent share reductions may be linked to its operational needs, as it is significantly impacted by macroeconomic cycles [2] - In the first half of 2025, China Cinda reported a net profit of 2.281 billion yuan, a year-on-year increase of 5.78%, but its pre-tax profit from non-performing assets was -6.2 billion yuan [2] - The company has increased its acquisition of non-performing financial debt assets, with 25.506 billion yuan acquired in the first half of 2025, a year-on-year growth of 56.80% [2] Group 3 - Founder Securities has shown stable performance in recent years, with net profit around 2.1 billion yuan [3] - In 2025, the company benefited from an active capital market, with brokerage, margin trading, investment banking, and proprietary trading businesses recovering significantly [3] - For the first three quarters of 2025, Founder Securities reported revenue of 9.082 billion yuan, a year-on-year increase of 67.17%, and a net profit of 3.799 billion yuan, up 93.31% year-on-year [3]