证券代码：600570 证券简称：恒生电子 公告编号：2026-002 恒生电子股份有限公司 二、审议通过《关于确认董事会审计委员会成员及召集人的议案》，同意 11 票，反对 0 票，弃权 0 票。 为保证第九届董事会审计委员会的正常运作，根据《公司章程》《董事会审 计委员会组织和工作办法》等有关规定，同意补选职工董事蒋建圣先生为公司第 九届董事会审计委员会成员，与汪祥耀先生（召集人）、宋艳女士、周淳女士、 朱超先生共同组成第九届董事会审计委员会，任期自本次董事会审议通过之日起 至第九届董事会任期届满之日止。 三、审议通过《关于确认董事会战略投资委员会与可持续发展委员会成员及 召集人的议案》，同意 11 票，反对 0 票，弃权 0 票。 恒生电子股份有限公司 恒生电子股份有限公司 第九届董事会第八次会议决议公告 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。 恒生电子股份有限公司（以下称"公司"或"恒生电子"）第九届董事会第 八次会议于 2026 年 1 月 15 日以通讯表决的方式召开，董事长彭政纲先生主持了 会议。本次会议 ...

Market Overview - The Shanghai Composite Index fell by 0.33% on January 15, with 11 sectors rising, led by the electronics and basic chemicals sectors, which increased by 1.67% and 1.40% respectively. The sectors with the largest declines were comprehensive and defense industries, down by 3.35% and 2.80% respectively. The computer industry dropped by 2.40% [1] Fund Flow Analysis - The main funds in the two markets experienced a net outflow of 62.864 billion yuan, with six sectors seeing net inflows. The electronics sector led with a net inflow of 12.083 billion yuan, while the non-ferrous metals sector saw a 1.37% increase and a net inflow of 1.936 billion yuan [1] - A total of 25 sectors experienced net outflows, with the computer industry leading at a net outflow of 18.556 billion yuan, followed by the media sector with a net outflow of 10.642 billion yuan. Other sectors with significant outflows included defense, pharmaceuticals, and non-bank financials [1] Computer Industry Performance - The computer industry saw a decline of 2.40%, with a total of 336 stocks in the sector. Out of these, 56 stocks rose, including 2 that hit the daily limit, while 277 stocks fell, with 9 hitting the daily limit. There were 69 stocks with net inflows, with 13 stocks having inflows exceeding 50 million yuan. The top stock for net inflow was Huasheng Tiancheng, with an inflow of 594 million yuan, followed by Guanglian Da and Aerospace Information with inflows of 467 million yuan and 102 million yuan respectively [2] - The outflow list for the computer industry included 54 stocks with outflows exceeding 100 million yuan. The top three stocks for net outflow were Yanshan Technology, Weining Health, and Guiding Compass, with outflows of 1.784 billion yuan, 832 million yuan, and 774 million yuan respectively [3]

Group 1: Stock Performance - As of January 15, the stock price of Hengsheng Electronics dropped by 2.05%, trading at 34.41 yuan per share with a total transaction volume of 28.30 billion yuan and a turnover rate of 4.28% [1] - Year-to-date, Hengsheng Electronics' stock price has increased by 14.13%, with a rise of 11.43% over the last five trading days, 18.70% over the last twenty days, and 8.11% over the last sixty days [2] Group 2: Financial Performance - For the period from January to September 2025, Hengsheng Electronics reported a revenue of 3.49 billion yuan, a year-on-year decrease of 16.66%, while the net profit attributable to shareholders was 455 million yuan, reflecting a year-on-year increase of 2.16% [2] Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders of Hengsheng Electronics reached 213,800, an increase of 6.09% from the previous period, with an average of 8,863 circulating shares per person, a decrease of 5.59% [2] - The company has distributed a total of 2.44 billion yuan in dividends since its A-share listing, with 682 million yuan distributed over the past three years [3] Group 4: Institutional Holdings - As of September 30, 2025, the second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 92.13 million shares, a decrease of 40.78 million shares from the previous period [3] - The fifth-largest circulating shareholder is Huatai-PB CSI 300 ETF, holding 25.73 million shares, down by 1.22 million shares from the previous period [3]

Market Overview - The Shanghai Composite Index fell by 0.31% on January 14, with 17 out of the industries under Shenwan rising, led by the computer and comprehensive sectors, which increased by 3.42% and 2.90% respectively [1] - The banking and real estate sectors experienced the largest declines, with decreases of 1.88% and 1.18% respectively [1] Capital Flow Analysis - The main capital flow showed a net outflow of 71.378 billion yuan across the two markets, with only three industries seeing net inflows: computer (8.873 billion yuan), communication (2.824 billion yuan), and comprehensive (6.928 million yuan) [1] - The power equipment industry had the largest net outflow, totaling 14.433 billion yuan, followed by the electronics industry with a net outflow of 9.708 billion yuan [1] Computer Industry Performance - The computer industry rose by 3.42% with a net inflow of 8.873 billion yuan, comprising 336 stocks, of which 291 rose and 44 fell [2] - Notably, 18 stocks hit the daily limit up, while 21 stocks experienced net outflows exceeding 100 million yuan [2] Top Gainers in Computer Industry - The top stocks by net inflow included Huasheng Tiancheng (1.688 billion yuan), Yanshan Technology (982 million yuan), and Hengsheng Electronics (934 million yuan) [2] - Other notable gainers included Tuoer Si (15.22%), Tianyuan Dike (18.61%), and Donghua Software (7.08%) [2] Top Losers in Computer Industry - The stocks with the largest net outflows included Deepin Technology (-3.3902 billion yuan), Zhina Zhen (-2.8347 billion yuan), and Desai Xiwai (-2.5360 billion yuan) [3] - Other significant outflows were seen in Wansheng Technology, Aerospace Information, and Sichuang Medical [3]

Core Viewpoint - The A-share market experienced a brief surge followed by a decline, with the financial technology sector remaining strong, particularly highlighted by the performance of the Huatai-PineBridge Financial Technology ETF [1] Group 1: Market Performance - The A-share market saw the Shanghai Composite Index rise over 1% before turning negative, while the financial technology ETF Huatai-PineBridge (159103) surged over 3% and peaked at a 7.1% increase during early trading [1] - The trading volume in the A-share market has been robust, with total trading exceeding 30 trillion yuan for four consecutive days, indicating heightened market activity [8] Group 2: Investor Sentiment - Individual investor activity has increased significantly, with net inflows of 155.7 billion yuan, marking a 64.1 billion yuan increase from the previous period, the second-highest net inflow in nearly a year [8] - Retail investors are increasingly participating in the market through direct stock purchases and indirectly via funds and ETFs, with a shift from net outflows to net inflows in retail ETF investments [8] Group 3: Financial Technology Sector Outlook - The financial technology sector is expected to benefit from both short-term market activity and mid-term policy support, with internet brokerages likely to see significant performance improvements due to increased trading volumes [2][8] - The financial IT companies with strong positions in securities IT systems, cross-border payments, and AI financial applications are anticipated to be the core beneficiaries of the evolving market landscape [2][8] Group 4: Policy and Growth Projections - The Chinese financial technology policy framework from 2021 to 2025 aims to promote innovation and enhance risk control across various sectors, with market size projected to grow to 651.5 billion yuan by 2028 [8] - The financial technology sector is poised for growth driven by AI applications, with historical performance indicating that it has outperformed other sectors during significant AI market trends [8][11]

Core Insights - Jefferies indicates that Chinese cloud service providers, AI software companies, and data center operators are undervalued compared to their U.S. counterparts [1] - Alibaba's Qianwen has surpassed 100 million monthly active users within two months of launch, showing rapid growth among students and white-collar workers [1] - The cloud computing ETF Huatai-PineBridge (159273) has seen most of its weighted stocks perform positively, with notable gains from Runze Technology (over 7%), Hengsheng Electronics (over 5%), and Alibaba-W (over 3%) [1] Company News - Alibaba's Qianwen is set to release a significant product iteration this Thursday [1] - Alibaba-W stock has increased by 3.94%, with a market capitalization of 315.11 billion [2] Market Trends - The AI computing sector is experiencing strong performance, with the cloud computing ETF Huatai-PineBridge (159273) rising over 2% and achieving a record high trading price [3] - Jefferies notes that Chinese AI stocks have room for further growth due to increased capital expenditure, improved AI model performance, and favorable policy signals [3] - The AI industry in China is still less mature in monetization compared to the U.S., leading to greater potential for valuation re-rating [3] Industry Analysis - The AI industry is transitioning from a "computing power race" to a focus on "application landing," indicating a maturation of business models [5] - The IDC market is undergoing a supply-demand shift driven by improved chip supply and surging demand for domestic AI applications [7] - The communication industry is experiencing a rotation towards IDC and computing power infrastructure, with expectations of order recovery and performance realization as capital expenditures from major firms become clearer [8]

Core Insights - The main market saw a net inflow of 19.182 billion yuan as of January 14, with significant capital flowing into various sectors [1] Group 1: Sector Performance - The top sectors by net capital inflow were: - Internet Services with 7.273 billion yuan and a growth of 6.44% [2] - Software Development with 6.836 billion yuan and a growth of 6.21% [2] - Securities with 2.616 billion yuan and a growth of 2.03% [2] - Optical and Electronic with 1.747 billion yuan and a growth of 2.89% [2] - Photovoltaic Equipment with 1.458 billion yuan and a growth of 2.53% [2] - Computer Equipment with 1.379 billion yuan and a growth of 3.59% [2] - Specialized Equipment with 1.342 billion yuan and a growth of 2.26% [3] - Electronic Components with 1.265 billion yuan and a growth of 2.41% [3] - Batteries with 1.259 billion yuan and a growth of 2.46% [3] - Automotive Parts with 0.931 billion yuan and a growth of 1.37% [3]

Group 1 - A-shares experienced significant activity with 110 stocks hitting the daily limit up and 7 stocks hitting the limit down on January 14 [1] - The financial technology sector showed strong performance, with stocks like Tongdahai and Hengsheng Electronics reaching the limit up [1] - AI-related stocks also gained traction, with People’s Daily achieving three consecutive limit ups and China Science Publishing reaching two limit ups in three days [1] Group 2 - Notable stocks with consecutive limit ups include Youbang Ceiling with 8 limit ups in 10 days and *ST Yatai with 8 consecutive limit ups [1] - Other stocks such as Guosheng Technology and Jiangshun Technology also showed strong performance with multiple limit ups [1] - Conversely, *ST Aowei faced a decline with four consecutive limit downs, while *ST Zhengping and *ST Yanshi also experienced multiple limit downs [1]

Group 1 - The core viewpoint of the news highlights the significant surge in the A-share software sector, with the Software 50 ETF (159590) experiencing a rise of over 5% and attracting more than 270 million yuan in investments over two days [1][4] - On January 13, a government action plan was released to promote the high-quality development of industrial internet platforms, aiming to cultivate over 450 influential platforms and achieve over 120 million industrial device connections by 2028, with a platform penetration rate exceeding 55% [3] - Major components of the Software 50 ETF saw substantial gains, including a rise of over 8% for Yonyou Network, over 7% for Tonghuashun and Zhongke Xingtu, and over 6% for 360 [4][5] Group 2 - The AI industry is experiencing a continuous increase in popularity, with significant advancements in capital, application, and technology. Notably, two leading general model companies, Zhipu and MiniMax, successfully listed on the Hong Kong Stock Exchange, reflecting strong market recognition for the AI sector [6] - The integration of AI into various fields is accelerating, with AI for Science emerging as a new research paradigm and the rise of Generative Engine Optimization (GEO) emphasizing high-quality content in model outputs [6] - Securities firms predict that 2026 will be a pivotal year for AI applications, driven by continuous improvements in model capabilities, decreasing computing costs, and accelerated monetization processes [7]

Group 1 - The three major indices strengthened collectively, with the AI application concept gaining momentum, as evidenced by the financial technology ETF Huaxia (516100) rising by 5.19% [1] - As of January 13, the financial technology ETF Huaxia has seen a net value increase of 46.05% over the past year, with the highest monthly return since inception reaching 55.18% and an average monthly return of 9.96% [1] - Longcheng Securities noted that market volume has continued to expand, surpassing 30 trillion, with margin financing and securities lending reaching new highs, indicating favorable conditions for brokerage and financial IT sectors [1] Group 2 - The Huaxia financial technology ETF closely tracks the CSI Financial Technology Theme Index, which has its top ten weighted stocks including Dongfang Wealth, Tonghuashun, and Guiding Compass, collectively accounting for 51.09% of the index [1] - The top ten stocks in the index have shown significant price increases, with Tonghuashun rising by 8.55% and Dongfang Wealth by 2.45%, reflecting strong performance in the financial technology sector [3]