Core Viewpoint - Jinzheng Technology Co., Ltd. has experienced a decline in stock price and significant changes in financial performance, indicating potential challenges in its business operations and market perception [1][2]. Financial Performance - As of September 30, 2025, Jinzheng reported a revenue of 1.771 billion yuan, a year-on-year decrease of 49.08%, while the net profit attributable to shareholders was -56.53 million yuan, an increase of 51.03% year-on-year [2]. - The stock price has dropped 6.26% year-to-date, with a 10.72% decline over the past 20 days and a 12.79% decline over the past 60 days [1]. Shareholder Information - The number of shareholders as of September 30, 2025, was 78,800, a decrease of 12.97% from the previous period, with an average of 11,940 circulating shares per person, an increase of 14.30% [2]. - The company has distributed a total of 518 million yuan in dividends since its A-share listing, with 83.17 million yuan distributed over the past three years [3]. Market Activity - On November 5, 2025, Jinzheng's stock saw a trading volume of 126 million yuan, with a turnover rate of 0.82% and a total market capitalization of 15.211 billion yuan [1]. - The company has appeared on the "Dragon and Tiger List" once this year, with a net buy of -75.66 million yuan on January 23, 2025 [1]. Business Overview - Jinzheng's main business includes providing comprehensive technical solutions to clients in the securities, fund, banking, futures, trust, exchange, and regulatory sectors, as well as engaging in digital economy projects with government and internet companies [2]. - The revenue composition includes customized services (45.26%), software (36.55%), hardware (15.00%), technology park leasing (3.19%), and other sources (0.01%) [2].

Core Viewpoint - The company is focusing on enhancing its financial technology business while reducing its non-financial IT operations, which has led to a decline in revenue from non-financial sectors. The company is also investing in AI and innovation to improve its core offerings and operational efficiency [1][5][13]. Financial Performance - For the first nine months of 2025, the company reported a revenue of 1.771 billion yuan, with non-financial business revenue at 457 million yuan. In comparison, for the same period in 2024, the revenue was 3.478 billion yuan, with non-financial business revenue at 2.055 billion yuan [5][7]. Business Strategy - The company is actively developing its AI capabilities, particularly in financial AI models, and is focusing on the integration of investment management and research products to enhance its core competencies in investment management [1][3][12]. - The company is implementing a strategy to shrink its non-financial IT business and concentrate on its core financial technology sector, with plans to potentially divest non-core operations when suitable opportunities arise [5][7][13]. Product Development - The company has made significant progress in its core products, including the FS2.5 core trading system, which has been successfully implemented at several securities firms, and the A8 investment trading system, which is operational at leading brokerages [10][12]. - The company is also exploring next-generation intelligent trading systems based on AI agents and has launched various intelligent investment solutions [4][8]. Market Environment - The company noted that the decline in revenue is partly due to a slowdown in IT investment from financial industry clients, which has extended project timelines for bidding, implementation, and acceptance [5][6]. - The company is optimistic about the future of its self-operated technology business, anticipating good development opportunities in the sector [3][12].

Group 1 - The company announced the results of share reduction by its shareholders and directors, confirming the authenticity and completeness of the announcement [1][5] - Before the reduction plan, shareholder Zhao Jian held 71,028,638 shares, accounting for 7.55% of the total share capital, while Xu Minbo held 44,562,621 shares, accounting for 4.73% [2] - The reduction plan was disclosed on July 14, 2025, with Zhao Jian planning to reduce up to 17,700,000 shares (1.87% of total shares) and Xu Minbo up to 11,100,000 shares (1.17% of total shares) from August 4 to November 3, 2025 [3] Group 2 - By the end of the reduction period, Zhao Jian had reduced 9,234,900 shares (0.98% of total shares) and Xu Minbo had reduced 1,000,000 shares (0.11% of total shares) [3][4] - The actual reduction was consistent with the previously disclosed plan, and the plan was fully implemented without early termination [4] Group 3 - On November 4, 2025, Xu Minbo submitted a resignation report due to personal reasons, resigning from the board and committees [5][6] - Xu Minbo's resignation will not affect the minimum number of board members or the normal operation of the board [6] - The company expressed gratitude for Xu Minbo's contributions during his tenure [7]

Core Viewpoint - On November 4, 2025, Shenzhen Jinzhen Technology Co., Ltd. announced the resignation of director Xu Minbo due to personal reasons, which may impact the company's governance and strategic direction [1][3] Group 1: Company Leadership Changes - Xu Minbo, a co-founder of the company and a long-serving director since its establishment in 1998, has submitted his resignation [3] - Xu held 43.56 million shares, representing 4.63% of the company, with a market value of approximately 720 million CNY based on the closing price of 16.50 CNY per share on November 4 [3] Group 2: Financial Performance - For Q3, the company reported revenue of 563 million CNY, a year-on-year decline of 50.19%, and a net loss of 17.69 million CNY [3] - Year-to-date revenue for the first three quarters was 1.77 billion CNY, down 49.08% year-on-year, with a net loss of 56.53 million CNY [3] - The company attributed the revenue decline to a strategic focus on its financial technology core business and a significant reduction in non-financial IT business revenue, which fell by 85% year-on-year [3] Group 3: Shareholder Actions - On July 13, the company announced plans for significant share reductions by major shareholders, including a total of 3.04% of the company's shares [4] - As of November 4, major shareholder Zhao Jian had reduced his holdings by 9.23 million shares (0.98% of total shares), while Xu Minbo reduced his holdings by 1 million shares (0.11% of total shares), realizing approximately 22.22 million CNY in cash [4] Group 4: Market Performance - On November 4, the company's stock closed at 16.50 CNY, down 2.02%, with a total market capitalization of 15.53 billion CNY [5] - The stock has experienced a 52-week high of 23.60 CNY and a low of 13.51 CNY, indicating significant volatility in its market performance [6]

Core Points - On November 4, 2025, the company announced that board member Xu Minbo submitted a written resignation due to personal reasons [1] Company Summary - Xu Minbo resigned from the company's eighth board of directors, as well as from the Strategic Committee and the Compensation and Assessment Committee [1]

Summary of Key Points Core Viewpoint - Several shareholders across various companies are planning to reduce their stakes, indicating potential shifts in ownership dynamics within the market [1]. Group 1: Shareholder Reductions - Hongbo New Materials' shareholder, Xinyu Baolong, intends to reduce its stake by 3% [1]. - Dayilong's shareholder, Lefeng Investment, has reduced its stake by 3% [1]. - Ningbo Zhongbai's Zhang Jiangbo plans to reduce his stake by 1% [1]. - Founder Securities reports that China Cinda plans to reduce its stake by 1% within three months [1]. - Liqun Co., Ltd.'s director, Hu Peifeng, intends to reduce his stake by 0.08% [1]. - Suli Co., Ltd.'s Guosheng Investment plans to reduce its stake by 0.4816% [1]. - Jinzhen Co., Ltd.'s Zhao Jian and Xu Minbo have reduced their stakes by 0.98% and 0.11%, respectively [1]. - Shenkong Technology's Wang Huan and Zhou Baocong plan to reduce their stakes by up to 0.0263% and 0.0210% within three months [1]. - Huaxi Biological's shareholder, Guoshou Chengda, plans to reduce its stake by no more than 2% [1]. - Xuanta Pharmaceutical's Qihe Venture has reduced its stake by 0.7098% [1]. - Desheng Technology's actual controller, Guo Xiaobin, has reduced his stake by 0.51% [1]. - Liren Technology's Liren Investment has reduced its stake by 0.0779% [1]. Group 2: Shareholder Increases - Zhongju Gaoxin's Li Ruxiong has increased his stake by 0.0129% [1].

Company Overview - Jinzheng Co., Ltd. (SH 600446) announced the resignation of director Xu Minbo due to personal reasons, effective November 4, 2025. After his resignation, he will no longer hold any position within the company [1]. Financial Performance - For the first half of 2025, Jinzheng's revenue composition was as follows: customized services accounted for 38.26%, securities brokerage software for 20.63%, IT equipment distribution for 15.0%, digital economy for 8.83%, banking software for 6.22%, and asset management software for 6.14% [1]. Market Capitalization - As of the report, Jinzheng's market capitalization stands at 15.5 billion yuan [1]. Industry Insights - A significant increase in overseas orders by 246% has been reported in a related industry, covering over 50 countries and regions. However, there are warnings about potential malicious competition as some entities are selling at a loss [1].

深圳市金证科技股份有限公司 特此公告。 关于公司董事辞职的公告 深圳市金证科技股份有限公司董事会 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法律责任。重要内容提示： 二〇二五年十一月五日 深圳市金证科技股份有限公司（以下简称"公司"）董事会于2025年11月4日收到董事徐岷波先生提交的 书面辞职报告，徐岷波先生因个人原因申请辞去公司第八届董事会董事、战略委员会委员及薪酬与考核 委员会委员职务。 责任编辑：小浪快报 一、提前离任的基本情况姓名离任职务离任时间原定任期到期日离任原因是否继续在上市公司及其控股 子公司任职具体职务（如适用）是否存在未履行完毕的公开承诺徐岷波第八届董事会董事、战略委员会 委员、薪酬与考核委员会委员2025年11月4日2026年10月11日个人原因否不适用否 二、离任对公司的影响 徐岷波先生的辞职不会导致公司董事会成员低于法定最低人数，不会影响公司董事会的正常运作。根据 《中华人民共和国公司法》《深圳市金证科技股份有限公司章程》等相关规定，徐岷波先生的辞职报告 自送达公司董事会之日起生效。辞职后，徐岷波先生不再 ...

辞职后，徐岷波先生不再担任公司任何职务。截至本公告披露之日，徐岷波先生不存在未履行完毕的公 开承诺，并已按照公司离职管理制度完成交接工作。 格隆汇11月4日丨金证股份(600446.SH)公布，公司董事会于2025年11月4日收到董事徐岷波先生提交的 书面辞职报告，徐岷波先生因个人原因申请辞去公司第八届董事会董事、战略委员会委员及薪酬与考核 委员会委员职务。 ...

Summary of Key Points Core Viewpoint - Jinzheng Co., Ltd. (600446.SH) announced the completion of its share reduction plan, with significant share reductions by key individuals [1] Group 1: Share Reduction Details - Mr. Zhao Jian reduced his holdings by a total of 9.2349 million shares, representing 0.98% of the company's total share capital [1] - Mr. Xu Minbo reduced his holdings by a total of 1 million shares, representing 0.11% of the company's total share capital [1]