Core Viewpoint - The issuance of asset-backed securities (ABS) by consumer finance companies, particularly Haier Consumer Finance, is on the rise, reflecting strong financing capabilities and a commitment to sustainable development in the industry [1][4]. Group 1: ABS Issuance and Financial Performance - Haier Consumer Finance issued its second ABS of 2025 on July 3, totaling 1.5 billion yuan, with a record low interest rate of 1.8% for the A tranche [2][3]. - The company has conducted three public fundraising actions in 2025, including one financial bond and two ABS issuances, showcasing its robust financing strength [1][2]. - The total amount of ABS issued by Haier Consumer Finance has exceeded 10 billion yuan, with a cumulative issuance of over 100 billion yuan across the industry this year [2][3]. Group 2: Industry Trends and Investor Confidence - The overall trend in the consumer finance sector shows a decline in interest rates for ABS, indicating investor confidence in the quality of small, diversified assets [3][4]. - The average loan interest rate for Haier Consumer Finance is projected to decrease by 0.05 percentage points year-on-year in 2024, reflecting a stable and slightly declining trend in product rates across the industry [3][4]. Group 3: Capital Strength and Sustainable Development - Haier Consumer Finance has increased its registered capital from 1.5 billion yuan to 2.09 billion yuan, a growth rate of nearly 40% [4]. - The company's total assets reached 29.348 billion yuan by the end of 2024, with a year-on-year growth of 9.61% in the loan balance [4]. - The company emphasizes its sustainable development capabilities, supported by strong shareholder backing and improved operational capabilities [5][6]. Group 4: Compliance and Regulatory Challenges - Haier Consumer Finance faced a fine of 250,000 yuan for violations related to credit information management, highlighting the need for compliance in the consumer finance sector [6][9]. - The company is adapting to new regulations regarding internet lending and is committed to protecting consumer privacy through strict information management protocols [9]. Group 5: Revenue Diversification and Business Strategy - The company has seen significant growth in its non-interest income, with a 66.31% increase in fees and commissions in 2024, driven by joint lending and membership services [8][9]. - Haier Consumer Finance plans to focus on a dual strategy of "scenes + cash" to enhance its operational capabilities and meet user demands [9].

Group 1 - The People's Bank of China imposed a fine of 250,000 yuan on Haier Consumer Finance for violating credit information collection and management regulations [1] - Haier Consumer Finance issued its first financial bond of 1 billion yuan for 2025, with a term of 3 years and an interest rate of 2.2% [1] - The funds raised from the bond issuance will be used to supplement the company's medium to long-term funding and optimize its asset-liability structure [1] Group 2 - Haier Consumer Finance issued 1.5 billion yuan in Asset-Backed Securities (ABS) in 2023, with the second phase having a record low interest rate of 1.80% [2] - The company has expanded its offline installment business in education, medical beauty, and home living sectors, with a sales personnel count of 28 and an average productivity of 122 million yuan per person by the end of 2024 [2] - Compared to 2023, the company experienced significant growth in offline business productivity, with personnel count increasing from 25 to 28 and average productivity rising from 81.96 million yuan to 122 million yuan [2]

2025年6月，央行等六部门联合印发《关于金融支持提振和扩大消费的指导意见》(下称《意见》)，明 确支持符合条件的消费金融公司发行金融债券、推动零售类贷款资产证券化增量扩面。 "从自身发展需求看，随着消金公司规模不断扩大，充足和稳定的资金支撑其可持续发展，为公司业务 拓展注入强劲动力。消金公司通过发债获取中长期资金，既能优化资产负债期限结构、降低流动性风 险，又能为业务拓展提供稳定支撑。"上述业内人士指出。 在当前经济格局中，消费金融作为拉动内需、促进消费升级的重要力量，小额、分散的优质资产受到投 资者青睐。近日，海尔消费金融有限公司(下称"海尔消金")发行2025年第二期够花ABS，规模15亿元， 其中优先A档票面利率为1.80%，创行业年度新低。 记者了解到，今年3月，海尔消金发行2025年第一期够花ABS，规模15亿元。其中，优先A档票面利率 为2.03%，优先B档票面利率为2.17%。优先A档获配售规模为10.65亿元，占比为71%；优先B档获配售 规模为1.2亿元，占比为8%；次级档获配售规模为3.5亿元，占比为21%。2025年第二期够花ABS是海尔 消金自2023年首次发行ABS以来成功发行的第 ...