The ninth "Golden Laurel Award" was recently announced at the CNABS Annual Conference on Asset Securitization. The 2024 First Phase Asset-Backed Debt Financing Instrument (Sci-Tech Innovation Note) product of Wuling Power was honored with the Most Innovative Breakthrough Product Award for its innovation in subject matter and trust structure of intellectual property rights (IPR).

The CNABS Annual Conference on Asset Securitization is a great event in the asset securitization field in China, characterized by extensive participation, high recognition, and significant influence. It aims to commend institutions, experts, and products that have performed excellently in the asset securitization industry in China in the past year. The entry product of Wuling Power is China’s first asset-backed sci-tech innovation note that adopts an institutional arrangement, and is also the first IPR covered bond (CB) initiated by a central enterprise in the country. By transforming "intellectual property" into "assets", Wuling effectively activated its 168 patents and 109 copyrights. The success of this CB project will be of great significance in promoting sci-tech research and development and reducing financing costs of enterprises.

This product has also attracted high attention from the SPIC Group and relevant industrial associations. The National Association of Financial Market Institutional Investors (NAFMII) has displayed this product as a case of structured products for activating existing assets. The SPIC Group showcases the?achievements through rolling news?on large screens and publications, demonstrating a comprehensive and multi-channel approach. These marked that Wuling's efforts in exploring financial innovation has been recognized by the SPIC Group and the peers. At the same time, Wuling has gain valuable experience and a good reputation through this project, to carry out more innovative financial activities in the future.