齐鲁晚报.齐鲁壹点李牧青 一是持续优化营商环境，提振企业信心。海关扎实开展跨境贸易便利化专项行动，打造通关时效更快、成本更低、服务更优的口岸营商环境，"内陆港 +保税""保税物流+物理混配"等21个案例获评省优化口岸营商环境创新实践案例。健全"关企面对面""政策直通车"等服务机制，分类开展政策宣讲146场， 实现从"人找政策的被动咨询"到"政策找人的主动帮扶"转变。"一企一策"做好服务，支持济南机场国际全货机航线增至7条，拓展飞机融资租赁、维修等 业务，2025年山东空运进出口值增长3%。 二是用好信用监管手段，让AEO企业畅顺通关。AEO企业信用高、竞争力强，是外贸发展的中坚力量，2025年山东AEO企业共634家，进出口7390.1亿 元，增长3.8%，占全省进出口总值的20.9%。海关与省税务局联合打造"税.关信用通"项目，实现海关、税务优惠政策叠加，不断拉长AEO企业享惠"清 单"。支持AEO企业牵头推进企业集团加工贸易监管模式改革，打通同一集团子公司间料件流转不便、保证金占用较多、供应链衔接不畅等难点，让集团 内资源共享、产能互补、要素互通，激活企业发展内生动力。 三是推动政策叠加发力，助力中小企业 ...

Investment Rating - The report maintains a "Strong Buy" rating for the company [4][8]. Core Views - The company has shown stable growth in key operating indicators, with a revenue of 14.66 billion yuan in H1 2025, up 7.7% year-on-year, and a net profit of 2.4 billion yuan, up 27.6% year-on-year [7][8]. - The company is focusing on business transformation, increasing investments in new energy, emerging industries, and vehicle leasing, which have led to significant revenue growth in these sectors [2][3]. - Despite a decline in financing leasing income by 6.2% year-on-year, the company has seen substantial growth in other income sources, particularly from asset disposal and foreign exchange gains [3][8]. Summary by Sections Financial Performance - In H1 2025, the company achieved a revenue of 14.66 billion yuan, with a net profit of 2.4 billion yuan, resulting in an annualized ROE of 11.7% [7]. - The total asset size reached 41.8 billion yuan, reflecting a 2.9% increase from the beginning of the year [7]. - The company maintained a low non-performing asset ratio of 0.63% and a high provision coverage ratio of 540.05% for financing leasing-related non-performing assets [7]. Revenue Breakdown - Financing leasing income accounted for 34.4% of total revenue, down 5.0 percentage points year-on-year, while operating leasing income accounted for 47.8%, down 4.5 percentage points [7]. - The company reported a significant increase in revenue from green energy and high-end equipment leasing, with respective revenues of 1.858 billion yuan and 1.052 billion yuan, growing 23.9% and 14.1% year-on-year [2]. Future Projections - The company is expected to continue its growth trajectory, with projected net profits of 4.9 billion yuan, 5.2 billion yuan, and 5.8 billion yuan for the years 2025, 2026, and 2027, representing year-on-year growth rates of 9.9%, 5.4%, and 11.9% respectively [10][11].