Core Insights - The 2025 KPMG China FinTech Dual 50 Report marks the 10th anniversary of the selection, showcasing the industry's development during the critical period of the "14th Five-Year Plan" [1] - FinTech is transitioning from "digitalization" to "intelligentization," becoming a vital engine for serving the real economy, with "pragmatism" and "deepening" as the main themes of industry development [1][2] - The report highlights a significant concentration of companies in major urban areas, with Beijing, Shanghai, and Shenzhen leading the first tier, and the Yangtze River Delta, Guangdong-Hong Kong-Macau, and Beijing-Tianjin-Hebei regions accounting for 88% of the total [1][2] Company Composition - 90% of the listed companies have been established for over five years, while the proportion of companies founded within the last three years has increased to 6%, indicating a collaborative development between established and emerging players [1] - Over 80% of the listed companies have more than 40% of their workforce in technology roles, emphasizing the importance of core technical talent as a support for industry innovation [1][2] Technology Application - Artificial intelligence continues to lead, with 92% of the listed companies utilizing technological elements, collaborating deeply with big data and blockchain technologies, and penetrating core scenarios such as investment research and risk control [2] - The application of large models and intelligent agents is moving beyond conceptual phases, with a "collaborative model" reducing costs and improving response times, while multi-agent collaboration significantly enhances the accuracy of complex task handling [2] Industry Trends - FinTech services are penetrating the entire lifecycle of technology companies, utilizing intelligent credit assessments to meet diverse financing needs at different stages [2] - The industry is entering a 2.0 era of going global, forming a "dual market" model that promotes inclusive financial services in emerging markets while building competitive advantages through technology exports in mature markets [2] Capital Market Insights - 63% of the listed companies have IPO plans, with Hong Kong and domestic markets being the primary destinations for listings, and some companies adopting multi-location listing strategies [2] - As technological innovation deepens and regulatory frameworks improve, FinTech is expected to continue advancing in core technological breakthroughs, application scenario expansions, and enhancements in self-controllable capabilities, injecting lasting momentum into high-quality industry development [2]

期货日报网讯(记者谭亚敏)2025年，中国期货市场迎来里程碑式突破——资金总量与客户权益相继突破 2万亿元大关，创出历史新高。市场规模的持续扩大、品种体系的不断完善，对期货公司核心系统的性 能、稳定性和业务承载能力提出了更高要求。 业界普遍认为，将自主创新改造与应用系统升级换代同步推进，既是响应政策要求，更是期货公司保障 金融安全、提升服务效能、应对未来竞争的必然选择。在此背景下，规划并构建一套高效、智能、安全 且具有前瞻性的新一代核心系统，已成为期货行业发展的当务之急。 随着信息技术自主创新的深入推进，行业正加速构建自主可控的新一代技术底座。同时，传统核心系统 在面对复杂市场环境、日益增长的交易规模时，逐渐显现出功能局限、性能瓶颈以及数据整合不足等问 题，难以支撑日益增长的交易并发量和多元化业务场景。 近日，恒生电子（600570）助力多家金融机构的核心系统实现信创升级。这标志着恒生新一代核心系统 在期货行业已具备成熟、稳定、高性能的国产化落地能力，推动行业信创建设从外围应用迈向核心系统 规模化迈进，为行业探索出一条"自主可控"与"业务发展"并重的转型路径。 ...

Group 1 - The core point of the news is that Hengsheng Electronics experienced a stock price increase of 5.02%, reaching 32.83 CNY per share, with a trading volume of 1.324 billion CNY and a turnover rate of 2.17%, resulting in a total market capitalization of 62.184 billion CNY [1] - Hengsheng Electronics, established on December 13, 2000, and listed on December 16, 2003, is located in Hangzhou, Zhejiang Province, and primarily develops application software for industries such as securities, banking, and funds [1] - The company's revenue composition is predominantly from software, accounting for 99.45%, with rental income from properties at 0.49% and other income at 0.06% [1] Group 2 - From the perspective of major holdings, one fund under Rongtong has a significant position in Hengsheng Electronics, specifically the Rongtong Zhongzheng Cloud Computing and Big Data Theme Index (LOF) A (161628), which reduced its holdings by 954,400 shares to 1.4768 million shares, representing 2.96% of the fund's net value, ranking as the eighth largest holding [2] - The fund has achieved a year-to-date return of 8.46%, ranking 916 out of 5579 in its category, and a one-year return of 73.94%, ranking 378 out of 4202 [2] - The fund manager, He Tianxiang, has a tenure of 11 years and 83 days, with the fund's total asset size at 8.328 billion CNY, achieving a best return of 155.06% and a worst return of -80.34% during his tenure [3]

Group 1 - The Shenzhen Component Index rose by 0.55%, while the ChiNext Index fell by 0.12%. The CSI Software Services Index increased by 5.65% [1] - Notable individual stock performances included Shenxinfu rising over 7%, with Kingsoft Office, iFlytek, and others increasing by over 6% [1] - The Software ETF (159852) gained 5.39%, with a trading volume of 799 million yuan and a turnover rate of 11.18%. The fund has seen a 42.70% increase over the past six months and a 59.80% increase over the past year [1] Group 2 - The demand for the Qianwen App's learning capabilities surged over 100% week-on-week, with a 300% increase in the need for past exam papers within five days [1] - On January 12, Weimeng Group launched the Weimeng Star Initiation GEO solution, utilizing self-developed generative engine optimization technology to enhance brand exposure and performance in the AI search era [1] - The Software ETF tracks the CSI Software Services Index, with the top ten weighted stocks including iFlytek, Kingsoft Office, and others, accounting for over 48.00% of the total weight [1][2]

Investment Rating - The industry investment rating is "Outperform the Market" which indicates an expected performance that exceeds the market by more than 5% over the next six months [23] Core Insights - The CES 2026 event highlighted the continuous enhancement of global AI computing power platforms, with significant advancements from major chip manufacturers like NVIDIA and AMD [3][5] - NVIDIA's Rubin platform has achieved full-scale production, while AMD introduced its Helios platform, showcasing the ongoing improvements in AI computing infrastructure that are expected to drive the global AI industry forward [6][19] - The report emphasizes the synergy between the enhancement of AI computing infrastructure and the iterative upgrades of global large models, which will foster sustained growth in the AI sector [3][19] Summary by Sections Industry News and Commentary - CES 2026 concluded on January 9, 2026, showcasing advancements in AI computing chips from companies like NVIDIA and AMD [3][6] - NVIDIA's Rubin platform is designed for building advanced AI supercomputers and is now in full production, with products expected to be available in the second half of 2026 [7] - AMD's Helios platform aims to provide significant computational power for large parameter model training, enhancing bandwidth and energy efficiency [8] Weekly Market Review - The computer industry index rose by 8.49% this week, outperforming the CSI 300 index by 5.70 percentage points [12] - As of the last trading day, the overall P/E ratio for the computer industry was 58.8 times, with 325 out of 359 A-share component stocks experiencing price increases [16] Investment Recommendations - The report suggests a strong focus on AI-related investment opportunities, particularly in AI computing and algorithms [19] - Recommended stocks in AI computing include Haiguang Information, Longxin Zhongke, and Inspur Information, while strong recommendations in AI algorithms include Hengsheng Electronics and Zhongke Chuangda [19]

恒生电子股份有限公司 以 上 内 容 详 见 公 司 2025 年 9 月 19 日 在 上 海 证 券 交 易 所 网 站 （www.sse.com.cn）披露的《恒生电子股份有限公司关于回购公司 2022 年及 2023 年员工持股计划未解锁份额对应股份的公告》（公告编号：2025-067） 二、需债权人知晓的相关信息 证券代码：600570 证券简称：恒生电子 编号：2026-001 恒生电子股份有限公司 关于注销回购股份减少注册资本暨通知债权人的公告 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。 一、通知债权人的原由 恒生电子股份有限公司（以下简称"公司"或"恒生电子"）分别于 2025 年 9 月 18 日、2025 年 12 月 22 日，召开第九届董事会第五次会议、2025 年第二次临 时股东会，会议审议通过了《关于回购公司 2022 年、2023 年员工持股计划未解锁 份额对应股份的议案》，同意将由公司回购的 2022 年及 2023 年员工持股计划未 解锁的 482,965 股公司股份予以注销，公司拟回购注 ...

恒生电子公告称，公司于2025年9月18日、12月22日分别召开董事会、股东会，同意注销2022年及2023 年员工持股计划未解锁的482,965股公司股份，占公司当前总股本的0.03%。本次回购股份注销完成后， 公司总股本将由1,894,130,907股减至1,893,647,942股。根据相关规定，公司通知债权人，自公告发布日 起45天内，债权人有权要求清偿债务或提供担保。债权人可现场、信函或邮件方式申报债权。 ...

Group 1 - The AI software sector is experiencing significant growth, with the China Securities Cloud Computing and Big Data Theme Index rising by 2.57% as of January 9, 2026, and the Cloud Computing 50 ETF increasing by 2.62% [1] - The Cloud Computing 50 ETF has seen a net inflow of 31.02 million yuan, indicating strong investor interest [1] - The Ministry of Industry and Information Technology and eight other departments issued an implementation opinion on "Artificial Intelligence + Manufacturing," aiming to promote deep integration of AI technology and manufacturing by 2027 [1] Group 2 - As of January 8, 2026, the Cloud Computing 50 ETF has a maximum drawdown of 0.35% this year, indicating low drawdown risk [2] - The Cloud Computing 50 ETF closely tracks the China Securities Cloud Computing and Big Data Theme Index, which includes 50 companies involved in cloud computing and big data services [2] - The top ten weighted stocks in the index account for 50.01% of the total, with notable companies including iFlytek, Kingsoft Office, and Zhongji Xuchuang [2]

| 股票代码 | 股票简称 | 涨跌幅 | 权重 | | --- | --- | --- | --- | | 300033 | 同花顺 | -3.18% | 10.63% | | 300059 | 东方财富 | -1.67% | 9.94% | | 300803 | 指南针 | -3.15% | 7.97% | | 600570 | 恒生电子 | -0.42% | 6.94% | | 300339 | 润和软件 | 1.50% | 6.41% | | 002065 | 东华软件 | 0.42% | 3.21% | | 300085 | 银之杰 | -1.81% | 2.94% | | 000997 | 新大陆 | -0.44% | 2.84% | | 002152 | 广电运通 | -0.52% | 2.29% | | e01519 | 大智慧 | -3.31% | 2.15% | 2026年1月8日，三大指数集体走低，大金融板块延续调整，截至9:42，金融科技ETF华夏(516100)下跌1.39%，其持仓股跌多涨少，仅润和软件、博睿数据、 普元信息等股小幅飘红；星环科技、税友股份、大智慧等股纷纷回撤。 资 ...

Group 1 - The core viewpoint of the news indicates a decline in fintech concept stocks, with significant drops in companies such as Zhina Zhen and Yinzhijie, which fell over 3%, while Tonghuashun, Dongfang Caifu, and Hengsheng Electronics dropped over 2% [1] - Affected by the adjustment of heavy-weight stocks, fintech-related ETFs experienced a decline of over 2% [1] Group 2 - Specific ETF performance shows that the Huaxia Fintech ETF decreased by 2.59% to 1.431, while the Fintech ETF dropped by 2.35% to 0.871 [2] - Other ETFs also reported declines, with the Fintech ETF Index down 2.39% to 0.939, and the Huizheng Fintech ETF down 2.21% to 0.928 [2] - Institutions suggest that with policy support and a stable macro environment, the financial sector's fundamentals are improving, and the income of financial IT companies is expected to grow gradually [2] - The acceleration of revolutionary stablecoins and the anticipated release of significant financial policies may present investment opportunities in the financial IT sector [2]