Group 1 - Hubei Hongtai Group became the controlling shareholder of Tianfeng Securities in 2023, leading to a strategic transformation of the company as the only securities firm in Hubei Province, providing strong financial support for local development through the "urban investment bank" strategy [1] - Over the past three years, Tianfeng Securities has facilitated over 120 billion yuan in financing for Hubei enterprises, achieving significant results in IPO services, including projects for Jin Ying Heavy Industry, Youzhiyou Biotechnology, and Xingfu Electronics [1] - In 2024, the company helped local entities issue 15 bonds, raising 12.52 billion yuan, and its subsidiary Tianfeng International assisted Wuhan Metro Group in issuing overseas bonds [1] Group 2 - Tianfeng Securities has established multiple provincial investment liaison stations through its subsidiary Tianfeng International to actively support the attraction of foreign capital to Hubei [2] - The company has innovated financial products by launching the first local government bond basket in the national interbank market, effectively reducing financing costs for local governments [2] - As the state-owned enterprise reform approaches its conclusion, Tianfeng Securities aims to align with Hubei's development strategy, focusing on technology finance and continuing to advance the "urban investment bank" strategy to contribute to the region's growth [2] Group 3 - In the first four months of the year, 37 new IPOs were launched nationwide, raising a total of 24.745 billion yuan, with Tianfeng Securities ranking fifth in the industry for the number of companies it helped go public, including Xingfu Electronics and Zhongjie Automotive [4]

Core Insights - Tianfeng Securities, as the only securities company owned by Hubei Province, is providing strong financial support for Hubei's development through its "urban investment bank" strategy [1][4] Group 1: Strategic Transformation and Achievements - Since Hubei Hongtai Group became the controlling shareholder in 2023, Tianfeng Securities has completed a strategic transformation, financing over 120 billion yuan for Hubei enterprises in the past three years [3] - The company has successfully completed multiple IPO projects, including Jin Ying Heavy Industry, Youzhi You Biological, and Xingfu Electronics, and has assisted several companies in raising funds through private placements, convertible bonds, and major asset restructurings [3] - In 2024, Tianfeng Securities helped local entities issue 15 bonds, raising 12.52 billion yuan, and assisted Wuhan Metro Group in issuing overseas bonds [3] Group 2: Urban Investment Bank Strategy - The "urban investment bank" strategy aims to optimize regional industrial structure and serve the real economy, focusing on local financial advisory roles, financial-driven industrial investment, comprehensive financial services, and promoting regional enterprise listings [3][4] - Multiple investment liaison stations have been established under Tianfeng International to actively support Hubei's overseas capital investment efforts [3] - In the area of international economic and trade cooperation, Tianfeng Securities is building financial bridges to assist Hubei enterprises in "going global" and attracting foreign capital [3] Group 3: Financial Product Innovation - Tianfeng Securities has launched the first basket of local government bonds in the national interbank market, effectively reducing local government financing costs [3] Group 4: Future Focus - As the state-owned enterprise reform approaches its conclusion, Tianfeng Securities will align closely with Hubei's development strategic goals, focusing on the overall requirements of state-owned enterprise reform and continuing to advance the "urban investment bank" strategy [4]