Core Insights - The process of data asset disclosure among A-share listed companies has slowed down, with only 101 companies reporting a total data asset scale of 2.971 billion yuan in the 2025 Q3 reports, compared to a much higher growth rate of 78.80% in 2024 [1][2] - The focus has shifted from merely disclosing data assets to improving the quality and management of these assets, indicating a maturation of the market [3][4] Group 1: Data Asset Disclosure Trends - In 2024, 91 A-share listed companies completed data asset disclosure, totaling 2.081 billion yuan, with a quarterly average growth rate of 78.80% [2] - By 2025, the quarterly average growth rate of companies disclosing data assets dropped to 3.57%, with 93, 100, and 101 companies reporting in Q1, Q2, and Q3 respectively [2][3] - The majority of data asset disclosures are concentrated among state-owned enterprises and major telecommunications companies, with the three major operators accounting for 60.15% of the total disclosed data asset scale [3] Group 2: Challenges and Opportunities - The challenges for companies in disclosing data assets have shifted from "whether to disclose" to "how to disclose efficiently and in compliance," focusing on valuation standards, regulatory compliance, and data governance [3][4] - Despite the slowdown, the long-term demand for data assetization remains strong, supported by ongoing policy incentives and a growing recognition of data's strategic value among enterprises [4][5] Group 3: Recommendations for Companies - Companies are encouraged to recognize the strategic value of data and integrate data asset management into their annual plans and performance assessments [6] - Establishing a comprehensive data governance framework and a dedicated data management department is essential for effective data asset management [6] - Collaboration among service providers, industry associations, and policymakers is crucial to address challenges in valuation, compliance, and to promote best practices [5][6]

Core Viewpoint - The establishment of the "NQI Trusted Data Space" aims to enhance the creditworthiness of enterprises and improve their financing accessibility through a comprehensive quality assessment system that integrates quality data with financial models [1][4]. Group 1: Trusted Data Technology System - The "NQI Trusted Data Space" creates a complete closed loop of "data collection - assessment modeling - risk control collaboration" by integrating multi-dimensional quality data from various sources [2]. - A comprehensive evaluation model is developed in collaboration with banks and regulatory bodies, incorporating quality factors into core credit approval metrics [2]. - A government-financial-enterprise collaborative risk control mechanism is established to address information asymmetry and ensure real-time updates of enterprise quality data [2]. Group 2: Innovative Financial Service Model - The model allows asset-light, high-growth enterprises to obtain pure credit loans based on quality advantages, thus broadening financing channels and reducing costs [3]. - Enterprises are incentivized to enhance quality management and innovation, creating a virtuous cycle of "quality improvement - credit enhancement - financing convenience - accelerated development" [3]. - The support from quality loans enhances brand value and market competitiveness, aligning with green finance initiatives under the "dual carbon" strategy [3]. Group 3: Integration of Quality and Financial Reforms - The "NQI Trusted Data Space" represents an innovative practice that integrates the quality strong nation strategy with financial supply-side reforms, transforming the "soft power" of enterprise quality into "hard support" for development [4]. - The model is expected to expand into deeper industry chains, benefit small and medium-sized enterprises, and promote green and low-carbon sectors, serving as a key engine for high-quality development of the real economy [4].