Core Insights - Shenzhen Jinzhen Technology Co., Ltd. won a procurement project from Guotou Securities Co., Ltd. with a bid amount of 1.305 million yuan [1][2] Company Performance - In 2024, the company's operating revenue was 4.693 billion yuan, with a revenue growth rate of -24.56% [1][2] - The net profit attributable to the parent company for 2024 was -202 million yuan, with a net profit growth rate of -154.81% [1][2] - For the first half of 2025, the company's operating revenue was 1.208 billion yuan, with a revenue growth rate of -48.55% [1][2] - The net profit attributable to the parent company for the first half of 2025 was -39 million yuan, with a net profit growth rate of 51.95% [1][2] Industry Overview - The company operates in the information technology industry, with main product types including CRM software, CTI voice software, ERP software, telecommunications services, and industry-specific software [1][2] - The revenue composition for 2024 was as follows: hardware business 44.11%, customized and system integration services 27.8%, software business 26.2%, technology park leasing 1.71%, and other businesses 0.18% [1][2]

Core Viewpoint - Jinzheng Co., Ltd. has been recognized in the fifth "Shenzhen Quality Top 100 Enterprises" selection for its outstanding product quality, governance system, continuous technological innovation, and significant social contributions [1][4]. Group 1: Quality Management and Recognition - The "Shenzhen Quality Top 100 Enterprises" selection is held every three years to promote high-quality development and the "Quality Strong City" strategy in Shenzhen, aiming to transition from "Shenzhen Manufacturing" to "Shenzhen Creation" and from "Shenzhen Brand" to "Shenzhen Quality" [5]. - Jinzheng is the first company in the financial securities IT industry to achieve the highest level of CMMI certification, reinforcing its capabilities in process organization, software development, and quality management [3][7]. Group 2: Technological Innovation and Development - Jinzheng has implemented a comprehensive quality management system and a three-tier quality management organizational structure, integrating agile practices and continuous improvement to embed high-quality standards in its R&D and management processes [3][7]. - The company has developed a DevOps comprehensive management platform for end-to-end management of the R&D process, utilizing a unified toolchain and work platform for integrated management of product/project requirements, code, testing, and pipeline management [3][7]. - Jinzheng has established awards such as the "Jinma Award" and "Quality Award" to promote quality initiatives and conducts multiple professional training and technical exchange activities annually [3][7]. Group 3: Research and Collaboration - The company maintains in-depth research on cutting-edge technologies such as cloud-native, low-latency, microservices, and high-performance computing, collaborating with industry partners like Huawei, Tencent, JD, and Alibaba to drive innovation in cloud services, big data, artificial intelligence, and blockchain within the financial sector [4][8]. - Jinzheng views continuous technological innovation as a key driver for enhancing quality and has maintained a high level of R&D investment, having obtained nearly 60 software patents by 2024 and actively participating in the development of national and industry standards [4][8].

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 转自：中国证券报·中证网 中证报中证网讯（记者 王辉）金证股份1月26日发布消息，公司历时五个月全力攻坚，成功助力华兴证 券完成异构系统替换，顺利上线A8新一代投资交易及配套估值、综合理财、TA等四套核心系统，圆满 达成资管自营业务全流程系统的升级目标。 作为本次升级的核心支柱，金证A8采用微服务+低时延分布式架构，覆盖投前研究、组合管理、交易执 行、风险控制到清算结算的全流程闭环，兼顾极致性能与灵活适配性，成为驱动业务提质增效的核心动 力。 此次A8及配套系统的成功上线，标志着金证股份与华兴证券的合作迈入新高度，为华兴证券优化资管 自营布局、强化核心竞争力筑牢数字化底座。未来，双方将持续深化合作，以技术创新驱动业务迭代， 助力华兴证券在复杂多变的市场环境中持续实现高质量发展。 ...

Market Performance - The internet insurance sector declined by 1.50%, ranking among the top losers in the concept sector, with major declines seen in companies like Focus Technology, iFlytek, and Weining Health [1] - Among the concept sectors, flexible DC transmission led with a gain of 5.14%, while WiFi 6 saw a decline of 1.79% [1] Fund Flow Analysis - The internet insurance sector experienced a net outflow of 2.237 billion yuan, with 12 stocks seeing net outflows, and 5 stocks exceeding 50 million yuan in outflows [1] - The largest net outflow was from Dongfang Caifu, totaling 1.168 billion yuan, followed by iFlytek, Weining Health, and New China Life with outflows of 716 million yuan, 215 million yuan, and 121 million yuan respectively [1] - Conversely, the stocks with the highest net inflows included China Ping An, China Life, and Tianli Technology, with inflows of 136 million yuan, 18.72 million yuan, and 13.16 million yuan respectively [1] Individual Stock Performance - Dongfang Caifu saw a decline of 1.63% with a turnover rate of 2.24% and a net outflow of approximately 1.168 billion yuan [2] - iFlytek dropped by 4.16% with a turnover rate of 6.81% and a net outflow of about 715 million yuan [2] - Weining Health decreased by 3.64% with a turnover rate of 9.46% and a net outflow of approximately 214 million yuan [2] - New China Life fell by 1.68% with a turnover rate of 1.15% and a net outflow of about 121 million yuan [2] - Seven Wolves increased by 1.76% with a net inflow of approximately 1.225 million yuan [3] - Tianli Technology rose by 0.97% with a net inflow of about 1.316 million yuan [3] - China Life remained stable at 0.00% with a net inflow of approximately 18.72 million yuan [3] - China Ping An slightly decreased by 0.05% with a significant net inflow of approximately 1.361 billion yuan [3]

Core Viewpoint - Shenzhen Jinzhen Technology Co., Ltd. expects a significant net loss for the fiscal year 2025, with projected losses ranging from -143.72 million to -101.21 million CNY, indicating ongoing financial challenges for the company [2][3]. Financial Performance Forecast - The company anticipates a net profit attributable to shareholders of the parent company for 2025 to be between -143.72 million and -101.21 million CNY [2][3]. - The expected net profit, excluding non-recurring gains and losses, is projected to be between -178.87 million and -136.37 million CNY [2][3]. - The performance forecast period is from January 1, 2025, to December 31, 2025 [2]. Previous Year Comparison - In the same period last year, the net profit attributable to shareholders was -202.42 million CNY [4]. - The net profit, excluding non-recurring gains and losses, was -246.15 million CNY [5]. - The earnings per share for the previous year were -0.2141 CNY [6]. Reasons for Performance Changes - The primary reason for the losses is the impact of market changes on the digital economy sector, leading to increased uncertainty in cash collections and asset impairment losses [7]. - The reduction in losses compared to the previous period is attributed to the company's focus on its core financial technology business and a strategic contraction of IT equipment distribution and banking business scales, which allowed for resource reallocation while maintaining gross profit levels [7]. - The expected recognition of non-recurring gains and losses is projected to be 35.16 million CNY, a decrease of approximately 20% compared to the previous year, mainly due to reduced income from structured deposits and financial products [7]. Asset Impairment Provision - The company plans to recognize a total asset impairment provision of 116.70 million CNY for the fiscal year 2025 [12]. - The breakdown of the impairment includes 105.42 million CNY for contract asset impairment losses, 0.66 million CNY for inventory write-downs, and 10.60 million CNY for long-term equity investment impairment losses [13][14]. - The total asset impairment provision is expected to reduce the net profit attributable to shareholders by 101.56 million CNY [14]. Audit and Compliance - The performance forecast and asset impairment provisions have not been audited by a registered accountant and are based on preliminary calculations by the company's financial department [3][12]. - The audit committee has concluded that the asset impairment provisions are reasonable and comply with accounting standards and company policies [15].

Core Viewpoint - The company Jinzheng Co., Ltd. expects a net loss attributable to shareholders of the parent company for the fiscal year 2025, ranging from 1.44 billion to 1.01 billion yuan, an improvement from a loss of 2.02 billion yuan in the previous year [1] Financial Performance - The anticipated net profit attributable to shareholders, excluding non-recurring gains and losses, is projected to be a loss between 1.79 billion and 1.36 billion yuan for 2025 [1] - The previous year's loss was recorded at 2.02 billion yuan, indicating a potential reduction in losses for the upcoming fiscal year [1] Reasons for Loss - The primary reason for the expected losses is the impact of market changes on the company's digital economy sector projects, leading to increased uncertainty in cash collection [1] - The company has made provisions for asset impairment losses due to the uncertain cash flow situation [1] - Additionally, the company has recognized impairment losses on long-term equity investments based on the actual operating conditions of joint ventures and market fluctuations [1]

Group 1 - The company, Jinzheng Co., Ltd. (600446.SH), expects to achieve a net profit attributable to shareholders of the parent company for the year 2025 in the range of -143.72 million to -101.21 million yuan [1] - The company anticipates a net profit attributable to shareholders of the parent company, after deducting non-recurring gains and losses, to be between -178.87 million and -136.37 million yuan for the year 2025 [1]

Group 1 - The company Jinzheng Co., Ltd. announced on January 16 that it will recognize an asset impairment loss of approximately 117 million yuan for the fiscal year 2025, which will lead to a reduction of about 102 million yuan in net profit attributable to shareholders of the listed company for the same year [1][1][1] - The figures provided are based on the company's financial department's calculations and are unaudited, with the final amounts to be confirmed by the annual audit conducted by the accounting firm [1][1][1] Group 2 - The silver market has seen a significant increase, with prices rising over 80% in the last 50 days, indicating a level of speculation that surpasses that of gold [1][1][1] - Historically, a surge in silver prices often signals that a bull market for precious metals is reaching its peak, raising questions about the current market dynamics and potential differences in this cycle [1][1][1]

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 一、本次计提减值准备的情况概述 股票代码：600446 股票简称：金证股份 公告编号：2026-002 深圳市金证科技股份有限公司 关于 2025 年度计提资产减值准备的公告 公司 2025 年度计提资产减值损失合计 11,670.01 万元，将导致公司 2025 年度归属于上市公司股东净利润减少 10,155.93 万元。上述数据系公司财务部 测算，未经审计，最终以会计师事务所年度审计确认的金额为准。 四、审计委员会的结论性意见 为客观、公允地反映公司的财务状况和经营成果，根据《企业会计准则》 和公司会计政策的相关规定，公司对截至 2025 年度母公司及子公司可能发生的 信用及资产减值情况进行了充分的评估和分析，本着谨慎性原则，公司对相关 资产计提了相应的减值准备。经公司财务部测算，2025 年度公司计提各类资产 减值准备合计 11,670.01 万元。 二、计提资产减值准备的情况 合同资产减值损失：公司对在单项工具层面能以合理成本评估预期信用损 失的充分证据的合同资产单 ...

Financial Performance Expectations - The company expects a net profit attributable to shareholders of the parent company for 2025 to be between -143.72 million and -101.21 million yuan[3]. - The expected net profit attributable to shareholders of the parent company, excluding non-recurring gains and losses, is projected to be between -178.87 million and -136.37 million yuan[3]. - The net profit for the same period last year was -202.42 million yuan, and the net profit excluding non-recurring gains and losses was -246.15 million yuan[5]. Non-Recurring Gains and Losses - The company anticipates recognizing non-recurring gains and losses of 35.16 million yuan, a decrease of approximately 20% compared to the previous year[7]. - The expected performance data has not been audited by a registered accountant and is based on the company's preliminary calculations[8]. Asset Impairment and Business Focus - The primary reason for the loss is increased uncertainty in cash recovery from the digital economy sector, leading to asset impairment losses[7]. - The asset impairment testing is still ongoing, and the estimated impact is based on preliminary calculations[8]. - The company has focused on its core financial technology business, reducing the scale of IT equipment distribution and banking business, which helped lower period expenses while maintaining gross profit levels[7]. Investment Risks - Investors are advised to pay attention to investment risks due to the preliminary nature of the forecast data[9]. - The final and accurate financial data will be disclosed in the company's official 2025 annual report[9].