Core Viewpoint - The successful issuance of the "Hua'an-Xingtai Leasing-Data Asset Supporting Intellectual Property ABS" marks a significant milestone in the asset-backed securities (ABS) market, specifically aimed at supporting technology innovation enterprises in industrial parks [1] Group 1: ABS Product Development - Xingtai Holdings has issued a total of 5 ABS products with a cumulative scale of 1.783 billion yuan, targeting various types of enterprises including small and medium-sized enterprises and technology-driven companies [1] - The recent ABS product features a coupon rate of 1.86%, making it the first of its kind in the country to support intellectual property for technology innovation [1] - The ABS "Xingtai Model" has emerged, characterized by a diverse product matrix that effectively revitalizes various asset classes, including financing leasing and commercial factoring [2] Group 2: Data Empowerment and Risk Control - The "Xingtai Model" utilizes data empowerment to create risk profiles for enterprises, enhancing the credibility of investment in ABS products through a risk control model based on the "Research Value Score" [2][3] - This model aims to lower financing costs for enterprises by providing a one-stop ABS financing service that connects asset value with capital market opportunities [2] Group 3: Intellectual Property as Financial Assets - Intellectual property ABS products have transformed "paper patents" into "development funds," enabling companies to leverage high-value patents for financing [4] - Xingtai Leasing has issued approximately 691 million yuan in intellectual property ABS products, facilitating financing for nearly 100 technology companies [4] - The AAA-rated guarantee from Xingtai ensures a stable operation of the ABS products, providing a safety net for investors while supporting low-cost financing for enterprises [4] Group 4: Support for SMEs and Innovation - The Shanghai Stock Exchange (SSE) is actively promoting financial support for small and medium-sized enterprises and technology-driven companies through various initiatives, including the "Five Major Financial Articles" action plan [6][7] - The ongoing development and replication of the ABS "Xingtai Model" are expected to enable more enterprises to utilize asset securitization tools to activate existing assets and attract low-cost capital for economic development [7] - The SSE plans to enhance product case promotion to help SMEs and technology enterprises better understand and utilize asset securitization products to reduce financing costs and broaden funding channels [7]