Core Viewpoint - The article emphasizes the role of the securities industry in supporting national strategies and deepening financial supply-side reforms, highlighting the innovative approaches taken by Ping An Securities in serving technology enterprises and enhancing financing efficiency [1]. Group 1: Innovation in Financial Services - Ping An Securities has a strong focus on innovation, particularly in the realm of technology finance, which is evident in their development of unique financial products such as intellectual property securitization and carbon emission-linked bonds [2][3]. - The company is implementing a dual strategy of "full-cycle product innovation" and "regional precision service" to enhance investment and financing efficiency, transitioning from a scale-driven approach to a service and quality-driven model [3][4]. Group 2: Bond Business Development - Ping An Securities has established itself as a leader in the bond market, consistently ranking among the top ten in underwriting scale, and is actively exploring deep service models for technology enterprises [4][5]. - The company is focusing on two main areas to support the development of technology enterprises: enhancing collaboration between equity and debt financing, and strengthening the linkage between primary and secondary markets for technology bonds [4][6]. Group 3: Risk Sharing Mechanisms - To address the financing challenges faced by technology SMEs, Ping An Securities has developed core experiences in mechanism design, resource integration, and risk control [6]. - The company is enhancing credit enhancement measures by introducing innovative tools such as intellectual property pledges and data asset guarantees, which effectively improve bond credit ratings [6][7]. Group 4: Intellectual Property Securitization - Ping An Securities has pioneered the field of intellectual property securitization, launching the first intellectual property ABS product in China in 2019, and has since supported various financing projects for technology enterprises [8][9]. - The company employs a customized strategy for each enterprise, providing professional research and strategic consulting to help clarify market positioning and development direction [9].

Core Viewpoint - Ping An Securities has deeply engaged in the growth of small and medium-sized enterprises in China over its 30-year history, emphasizing innovation as a key element in its financial services for technology companies [1][2]. Group 1: Innovation in Financial Services - The company implements a dual strategy of "full-cycle product innovation" and "precise regional services" to enhance investment and financing efficiency [2]. - Ping An Securities has developed a diverse "relay-style" financing service system that covers the entire lifecycle of technology enterprises, transitioning from a "scale + quality-driven" model to a "service system + quality-driven" approach [2]. - In the equity business, the focus is on three strategic emerging industries: semiconductors, new energy, and high-end equipment, particularly in the Yangtze River Delta and Pearl River Delta regions [2]. Group 2: Bond Business Innovations - The bond business is a key area for Ping An Securities, which has maintained a top ten position in underwriting scale within the industry [3]. - The company has introduced innovative debt financing tools such as technology bonds and intellectual property securitization to better serve technology enterprises [3]. - Future efforts will focus on enhancing collaboration between equity and debt financing, as well as strengthening the linkage between primary and secondary markets for technology bonds [3][4]. Group 3: Risk Sharing Mechanisms - Ping An Securities has developed core experiences in mechanism design, resource integration, and risk control to address the financing challenges faced by technology SMEs [4]. - The company employs two main strategies: implementing key credit enhancement elements and optimizing client selection to effectively establish risk-sharing mechanisms [4][5]. - The credit enhancement toolbox includes innovative methods such as intellectual property pledges and data asset enhancements to improve bond credit ratings [5]. Group 4: Intellectual Property Securitization - Ping An Securities has pioneered a mature model in the field of intellectual property securitization, becoming an industry benchmark [6]. - The company launched the first intellectual property asset-backed securities (ABS) product in China in 2019, supporting national efforts in intellectual property securitization [6]. - Recent projects have successfully provided financing support to technology SMEs based on their patent technologies, with total issuance reaching 424 million yuan [6][7]. Group 5: Customized Service Strategies - The company adopts a customized strategy of "one enterprise, one policy" to optimize service models [7]. - By leveraging professional research teams, Ping An Securities analyzes industry trends and competitive landscapes to provide strategic consulting to target enterprises [7]. - This approach aims to clarify market positioning and development directions for enterprises, addressing the financing difficulties faced by light-asset technology companies [7].