中基协：7月ABS新增备案153只 新增备案规模合计1440.49亿元 中基协发布数据，2025年7月，资产支持专项计划新增备案153只，新增备案规模合计1440.49亿元。其 中基础设施公募REITs所投ABS备案6只、147.33亿元。此外，新增备案规模前三的ABS基础资产分别 为：融资租赁债权、应收账款和小额贷款债权，备案规模分别为313.66亿元、309.34亿元和247.95亿 元。 IDC：上半年中国数码工业打印机市场收入39.4亿元 同比增长10.7% 8月27日晚，中国人寿(601628)8月27日披露半年报，公司上半年实现营业收入2392.35亿元，同比增长 2.10%；实现归属于上市公司股东的净利润409.31亿元，同比增长6.90%；基本每股收益为1.45元/股。拟 向全体股东派发现金股利每股0.238元（含税)。 美团：第二季度营业收入918.4亿元 同比增长11.7% 美团发布第二季度业绩报告，第二季度营收为918.4亿元，同比增长11.7%，预估936.9亿元；第二季度 调整后净利润为14.9亿元，同比下降89%，预估98.5亿元。2025年第二季度，美团核心本地商业分部收 入同比 ...

Core Points - The board of directors of Guotai Junan Securities Co., Ltd. announced the merger of Shanghai Guotai Junan Securities Asset Management Co., Ltd. with Shanghai Haitong Securities Asset Management Co., Ltd. [1] - The new entity will be named Shanghai Guotai Haitong Securities Asset Management Co., Ltd. [1] Summary by Sections - The management of private asset management products and asset-backed special plans will change from "Shanghai Haitong Securities Asset Management Co., Ltd." to "Shanghai Guotai Haitong Securities Asset Management Co., Ltd." [1] - Publicly offered asset management plans that have not yet announced termination will also see a change in management to the new entity, pending approval from the China Securities Regulatory Commission and successful holder meetings [2] - Customer personal information will be transferred to Guotai Haitong Asset Management, which commits to maintaining the original purposes and methods of processing personal information in compliance with the Personal Information Protection Law of the People's Republic of China [2]

Group 1 - The China Securities Association reported that in Q1 2025, 40 securities firms acted as lead underwriters for 107 bonds, totaling 104.29 billion yuan [1] - Seven departments, including the Ministry of Science and Technology, announced the establishment of a "Technology Board" in the bond market to support high-quality development of technology innovation bonds [3] - The People's Bank of China released social financing data, indicating that the cumulative increase in social financing for the first four months of 2025 was 16.34 trillion yuan, with corporate bond net financing at 759.1 billion yuan [5] Group 2 - The Ministry of Finance plans to reissue 71 billion yuan of 30-year special government bonds at a fixed interest rate of 1.88% [7] - The central bank conducted a 92 billion yuan reverse repurchase operation, achieving a net withdrawal of 103.5 billion yuan [8] - The Henan provincial government is actively seeking to pilot "self-examination and self-issuance" for local government special bond projects to address overdue payments [9] Group 3 - The Zhengzhou Investment Group plans to issue 500 million yuan in short-term financing bonds to repay existing debts [11] - The Jiaozuo Investment Group successfully issued 500 million yuan in corporate bonds with an interest rate of 2.93% [12] - The Luoyang Industrial Investment Group is set to issue 1.2 billion yuan in debt financing tools at an interest rate of 2.55% [14] Group 4 - The market outlook for bonds remains positive, with institutions suggesting patience and stable holdings in the upcoming quarter [20] - Factors influencing the bond market include macroeconomic data, funding conditions, and supply pressures, with expectations for continued government bond issuance [21]

Group 1: Technology Innovation Bonds - The interbank bond market officially launched technology innovation bonds on May 9, with 36 companies announcing a total issuance scale of 21 billion yuan as of May 8 [1] - The People's Bank of China emphasized the importance of long-term value investment in technology innovation bonds and encouraged market participants to actively engage in investment and trading [4][5] - The Central Bank's report indicated that nearly 100 market institutions plan to issue over 300 billion yuan in technology innovation bonds, suggesting a potential increase in issuance in the near future [15][16] Group 2: Monetary Policy and Market Operations - The Central Bank announced a temporary suspension of government bond trading operations, monitoring market supply and demand to determine when to resume [2] - The report highlighted that the 10-year government bond yield had dropped below 1.6%, prompting the Central Bank to use alternative tools to maintain liquidity and stabilize the bond market [2] Group 3: Regional Developments - The Henan provincial government is promoting the establishment of a provincial-level recycling resource recovery platform and supporting agricultural service projects through special government bonds [6] - Hunan province announced a subsidy of 2 million yuan for infrastructure REITs projects that pass the National Development and Reform Commission's evaluation [7] Group 4: Issuance Dynamics - Zhengzhou Thermal Power Group completed the issuance of 400 million yuan in corporate bonds with a 2.43% interest rate [9] - Xuchang New District Construction Investment Co., Ltd. issued 300 million yuan in corporate bonds at a 3.29% interest rate, with proceeds used to repay existing debt [10] - The Ministry of Finance plans to reissue 145 billion yuan in special government bonds for financial institution capital injection, with a 7-year term starting from May 15, 2025 [8]

民营企业是科技创新的重要力量。做好民企股债融资支持，需要充分发挥资本市场功能。 创新债券融资产品、发布民企指数、加速交易型开放式指数基金（ETF）扩容……近年来，证券交易所 积极完善机制、创新产品，对接民企融资需求，为民企发展提供更多金融助力。 4月23日，首单中小微企业支持可续期公募公司债券在北京证券交易所成功发行。由江西省金融控股集 团有限公司发行的这期债券，发行规模5亿元，期限3+N年，募集资金大部分用于支持产业链上下游或 自身经营业务相关的中小微企业发展。 "本期发行通过为集团产业链上下游相关中小微企业提供流动性支持的方式，贯彻普惠金融导向，助力 破解中小微企业融资难融资贵问题。"北交所相关负责人表示。 在民企占比约8成的沪市科创板，去年"科创板八条"发布后指数产品加速"上新"，相关ETF产品也快速 跟进。目前，科创板ETF总规模已近2500亿元，有效引导资金流向新质生产力领域。 北交所上市公司中，国家级专精特新"小巨人"企业占比超一半。据了解，北交所将研究推出北交所专精 特新指数，并推动公开发行可转债、ETF业务落地。 以"远惠系列-2024远东小微企业高质量发展三期资产支持专项计划"为例，发行规模 ...

Core Viewpoint - Guosen Securities Asset Management Co., Ltd. officially commenced operations on March 21, 2024, marking a significant development in the company's asset management business [2][3]. Group 1: Company Establishment and Operations - Guosen Securities Asset Management Co., Ltd. was established after nearly three years of preparation, with the board approving the establishment in April 2022 and receiving regulatory approval in November 2023 [3]. - The registered capital of Guosen Asset Management is 1 billion yuan, headquartered in Shenzhen, and it is authorized to manage securities asset management and overseas securities investment [3]. - The company has a management team of five, with Cheng Fei as the chairman and Fang Qiang as the general manager [3]. Group 2: Business Strategy and Future Plans - Guosen Asset Management aims to differentiate itself in the market, focusing on customer satisfaction rather than merely maximizing returns or scale [8]. - The company plans to develop a product strategy system comprising 12 major strategies, covering fixed income, equity investment, fund of funds (FOF), and derivatives [8]. - The asset management business had a net asset value of 152.746 billion yuan as of June 30, 2024, with growth attributed to innovative strategies and targeted market management [9]. Group 3: Changes in Management and Operations - The asset management business will transition from Guosen Securities to Guosen Asset Management, with changes in management entities and operational accounts effective from the opening date [5][6]. - The company has established an internal control mechanism for related party transactions to ensure compliance and fairness in its operations [7].

民营企业伴随着改革开放伟大历程蓬勃发展，已经成为我国国民经济的重要组成部分。当前民 营经济发展面临一些困难和挑战，如何支持民营企业融到资、融好资，交易所债市始终念兹在 兹。 "发行成功了！票面利率4.7%！"民营上市公司广东东阳光科技控股股份有限公司（简称"东 阳光"）董秘激动地告诉记者。2025年2月21日，东阳光在 上海证券交易所（简称"上交 所"） 成功公开发行5亿元公司债券，票面利率4.7%。作为电极箔全产业链龙头上市公司，发 行人本次募集资金将用于偿还公司有息债务，降低企业存续债务成本，助力企业发展壮大。 2024年，上交所支持百余家民营企业实现债券和资产支持证券融资超过2200亿元。三一租 赁、特变电工、小米通信、京东集团、联影集团等各行业龙头民企在上交所成功融资，形成了 良好示范效应。 完善制度机制 畅通民企融资渠道 党中央、国务院一直以来高度重视民营经济发展。近两年，为促进民营经济做优做大做强，政 策持续出台以化解民企融资难、融资贵的问题。在证监会的指导下，"为支持民企债券融资， 上交所创新性地推出了一系列产品和机制，从制度上为民企债券融资提供'肥沃土壤'。"上交 所债券业务相关负责人告诉记者 ...