恒生电子股份有限公司 证券代码：600570 证券简称： 恒生电子 公告编号：2025-036 恒生电子股份有限公司 关于实施 2024 年度权益分派后调整股份回购价格上限的公告 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。 重要内容提示： 一、股份回购的基本情况 调整前回购价格上限：不超过 44.38 元/股 调整后回购价格上限：不超过 44.28 元/股 回购价格上限调整起始日：2025 年 6 月 6 日（权益分派除权除息日） 恒生电子股份有限公司 三、本次回购股份价格上限调整的具体情况 根据《回购报告书》，本次以集中竞价交易方式回购股份价格上限由不超过 44.38 元/股调整为不超过 44.28 元/股，具体的价格调整公式如下： 恒生电子股份有限公司（以下简称"恒生电子"或"公司"）于 2025 年 4 月 22 日召开了公司 2024 年年度股东大会，审议并通过了《关于以集中竞价交易 方式回购公司股份的方案》，公司拟使用不低于人民币 2,000 万元且不超过人民 币 4,000 万元（含）的自有资金回购公司股票。回 ...

Core Viewpoint - The financial technology sector is experiencing growth, driven by regulatory developments in stablecoins and increased investment in financial technology ETFs, indicating a positive outlook for the industry [3][4]. Group 1: Financial Technology ETF Performance - The financial technology ETF (516860) has seen a recent increase of 0.74%, with a latest price of 1.22 yuan and a trading volume of 59.49 million yuan [3]. - Over the past year, the financial technology ETF has achieved a net value increase of 71.32%, ranking 31 out of 2831 index stock funds, placing it in the top 1.10% [4]. - The ETF has experienced significant growth in shares, with an increase of 22 million shares over the past three months, ranking it in the top third among comparable funds [4]. Group 2: Regulatory Developments - The Hong Kong government has officially enacted the "Stablecoin Regulation," establishing a licensing system for fiat-backed stablecoin issuers, which aims to enhance the regulatory framework for virtual asset activities and promote financial innovation [3]. - The introduction of stablecoin regulations in both the U.S. and Hong Kong marks a new phase of compliance and regulation in the stablecoin industry, which is expected to foster the continued prosperity of related cryptocurrency sectors [3]. Group 3: Key Holdings and Metrics - The top ten weighted stocks in the China Securities Financial Technology Theme Index (930986) account for 52.03% of the index, with notable companies including Tonghuashun (300033) and Dongfang Caifu (300059) [4][7]. - The financial technology ETF has a management fee of 0.50% and a custody fee of 0.10%, which are among the lowest in comparable funds [5]. - The ETF has demonstrated high tracking accuracy, with a tracking error of 0.046% over the past two years, the best among comparable funds [5].

证券代码：600570 证券简称：恒生电子 公告编号：2025-035 恒生电子股份有限公司 关于股份回购进展公告 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。 根据《上市公司股份回购规则》、《上海证券交易所上市公司自律监管指引第 7 号——回购股份》的相关规定，上市公司应当在每个月的前 3 个交易日内公告 截至上月末的回购进展情况。现将公司回购股份的进展情况公告如下： 截至 2025 年 5 月末，公司已累计回购股份为 37,200 股，占公司总股本的比 例为 0.0020%，购买的最低价为 26.76 元/股、最高价为 27.02 元/股，已支付的 总金额约为 100.0943 万元（不含交易费用）。上述回购情况符合本次回购股份方 案的规定。 重要内容提示： | 回购方案首次披露日 | 2025/4/12 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 年 月 月 2025 10 | 4 | 23 | 日~2025 ...

Core Viewpoint - The article highlights the significant rise of the fintech sector, particularly driven by the recent regulatory developments surrounding stablecoins in Hong Kong and the growing market demand for digital financial solutions [6][11][29]. Market Performance - On June 2, the Hong Kong stock market experienced a remarkable recovery, with all major indices closing in the green and trading volumes increasing [1][3]. - The fintech sector emerged as one of the most active segments, with notable performances in digital currencies and cross-border payments [4][6]. Fintech Sector Dynamics - The fintech sector, particularly the financial technology ETF (159851), has seen a substantial increase of over 80% since last year, driven by the implementation of the Stablecoin Regulation in Hong Kong [6][24]. - The global fintech market is projected to exceed $8.5 trillion by 2024, with Asia-Pacific leading at a 45% market share, and China contributing $1.9 trillion [17]. Stablecoin Surge - Stablecoins have gained popularity due to their ability to mitigate the volatility of cryptocurrencies, with a global market cap exceeding $250 billion as of May 31, 2023 [13]. - Recent regulatory frameworks in Hong Kong and the U.S. are expected to enhance institutional trust in stablecoins, potentially increasing U.S. institutional allocations to $80 billion by 2025 [11][12]. Technological Advancements - Technological breakthroughs, such as reduced transaction costs and improved transaction speeds, are facilitating the integration of stablecoins into traditional financial systems [12][22]. - The rise of embedded finance is transforming how financial services are accessed, with predictions indicating a market size of $3.2 trillion by 2027 [19]. Investment Opportunities - The fintech sector is characterized by high volatility and potential for significant returns, with the fintech ETF (159851) being a preferred vehicle for investors seeking diversified exposure [24][26]. - Companies that are technologically advanced, have clear business models, and strong compliance frameworks are positioned to benefit from the ongoing fintech revolution [30].

Group 1 - The core viewpoint of the articles highlights the strong performance of financial technology stocks in the A-share market, driven by the recent approval of the "Stablecoin Regulation" in Hong Kong, which is expected to enhance market liquidity and benefit companies involved in digital currency and cross-border payment solutions [1][2] - The financial technology sector is experiencing significant growth, with the China Securities Regulatory Commission and other regulatory bodies promoting the development of stablecoins and digital currencies, which are anticipated to create new opportunities for financial IT companies [1][2] - The financial technology ETF has shown substantial growth, with a nearly 69% increase over the past year, indicating strong market interest and investment potential in this sector [1][7] Group 2 - National strategies and local policies are working in tandem to build a financial technology ecosystem, with clear top-level design and localized implementation aimed at enhancing the application of AI and blockchain technologies in financial services [2] - Financial institutions are undergoing digital transformation, with securities firms leveraging technology for wealth management and trading, banks focusing on open banking and inclusive finance, and insurance companies utilizing AI for risk management and pricing [3][4] - The integration of blockchain technology with digital currency initiatives is enhancing operational efficiency and transparency in the insurance sector, while the expansion of digital yuan trials is expected to boost transaction volumes significantly [4][6] Group 3 - The market is witnessing increased activity, with projections indicating a more than 20% year-on-year growth in net profits for listed securities firms in the first quarter of 2025, driven by heightened market engagement [5][6] - The current geopolitical landscape is prompting a shift towards domestic financial IT solutions, further supporting the valuation recovery of financial technology companies [6] - The financial technology ETF tracks a comprehensive index of companies involved in the financial technology sector, with a high average R&D investment ratio and a favorable valuation margin, indicating a robust investment opportunity [7]

Company Overview - As of May 30, 2025, Hengsheng Electronics (600570) closed at 26.31 CNY, up 3.18% from the previous week’s 25.5 CNY [1] - The stock reached a high of 27.13 CNY and a low of 25.18 CNY during the week [1] - The current total market capitalization is 49.772 billion CNY, ranking 7th out of 133 in the software development sector and 266th out of 5146 in the A-share market [1] Dividend Announcement - Hengsheng Electronics announced a cash dividend of 0.1 CNY per share for the 2024 fiscal year, with the record date set for June 5, 2025 [2] - The ex-dividend date and cash dividend payment date are both scheduled for June 6, 2025 [2] - The differentiated dividend distribution plan was confirmed by a legal opinion from Beijing Jingtian Gongcheng (Hangzhou) Law Firm, stating compliance with relevant laws and regulations [1][2] Shareholder Information - The dividend distribution applies to all shareholders registered with the China Securities Depository and Clearing Corporation as of the record date, excluding shares held in the company's repurchase account [2] - The differentiated dividend plan specifies a distribution of 1.0 CNY for every 10 shares held, translating to approximately 0.0999 CNY per share [2] - Tax deduction details are provided based on different shareholder types, including individual shareholders, QFIIs, Hong Kong market investors, and other institutional investors [2]

Core Viewpoint - The digital economy theme index has shown a decline, with notable fluctuations in constituent stocks, indicating mixed performance in the sector [1][2]. Market Performance - As of May 30, 2025, the CSI Digital Economy Theme Index (931582) decreased by 1.45%, with constituent stocks showing varied performance [1]. - The Digital Economy ETF (560800) also fell by 1.74%, with the latest price at 0.73 yuan [1]. - Over the past week, the Digital Economy ETF's scale increased by 14.19 million yuan, ranking it in the top half among comparable funds [1][2]. - The ETF experienced a significant increase in shares, growing by 12 million shares in the past week, also placing it in the top half of comparable funds [2]. Fund Flow and Investment Trends - In the last five trading days, the Digital Economy ETF saw net inflows on three occasions, totaling 10.27 million yuan, with an average daily net inflow of 2.05 million yuan [2]. - Recent reports from Zhongyin International highlight that the National Development and Reform Commission has included industrial software upgrades in the "two new" policy support scope, suggesting a potential growth opportunity for the industrial software sector [2]. Top Holdings - As of April 30, 2025, the top ten weighted stocks in the CSI Digital Economy Theme Index accounted for 51.5% of the index, with notable companies including Dongfang Wealth (300059) and SMIC (688981) [3][4].

Core Insights - The "Bobo Smart Chain Supply Bill Platform" jointly established by Hengsheng Electronics and Ningbo Bank has officially launched, providing online services for the entire lifecycle of supply chain bills, enhancing asset management for enterprises and meeting diverse financing needs [1] - Ningbo Bank, a systemically important bank in China and one of the top 100 banks globally, has been increasing its investment in bill business system construction, integrating "bills + technology + scenarios" to enhance service efficiency [1][4] - The platform supports full lifecycle online operations for supply chain bills, seamlessly integrating with the bill exchange system, and allows enterprises to bind multiple bank settlement accounts for centralized management [2] Functionality and Efficiency - The platform enables one-stop automated collaboration between bill operations and enterprise functions such as finance, procurement, and taxation, addressing the complexities of different bank systems and streamlining processes [3] - It offers diverse financing solutions, including bill acceptance, discounting, and pledging, significantly improving the efficiency of bill usage for enterprises and promoting integrated development of production and finance [4] Strategic Partnership - The collaboration between Ningbo Bank and Hengsheng Electronics began in 2008 and was upgraded to a strategic partnership in 2024, reflecting the deepening cooperation from foundational system construction to specialized business [4] - Hengsheng has been serving the bill market since 2001, providing technological support to over 100 institutions, including various types of banks, thereby contributing to the high-quality development of the real economy [4]

Group 1 - The core viewpoint of the news is the performance of the China Construction Bank's Technology Innovation Leading Index (Yangtze River Delta), which rose by 2.0% to 1338.13 points, with a trading volume of 22.776 billion yuan [1] - The index has increased by 1.44% over the past month, decreased by 4.05% over the past three months, and has risen by 3.52% year-to-date [1] - The index consists of 50 representative listed companies from the Yangtze River Delta region, selected for their strong technological innovation capabilities and growth potential [1] Group 2 - The top ten weighted stocks in the index are: Weir Shares (10.07%), Lanjie Technology (8.22%), Zhongwei Company (7.11%), Jianghuai Automobile (6.34%), Huayou Cobalt (4.25%), Siyuan Electric (4.14%), Hudian Shares (3.86%), Hengsheng Electronics (3.67%), Top Group (3.15%), and New Hecheng (3.11%) [1] - The market segments of the index holdings show that the Shanghai Stock Exchange accounts for 72.90% and the Shenzhen Stock Exchange accounts for 27.10% [1] Group 3 - In terms of industry distribution, the index holdings are composed of 49.64% Information Technology, 19.03% Industrial, 11.08% Consumer Discretionary, 9.57% Healthcare, 7.30% Materials, 2.60% Communication Services, and 0.78% Consumer Staples [2] - The index samples are adjusted every six months, with adjustments occurring on the next trading day after the second Friday of June and December [2] - A buffer zone is set for sample adjustments, prioritizing new samples ranked within the top 25 and retaining old samples ranked within the top 75 [2]

Group 1 - The core viewpoint of the article is the strategic cooperation agreement signed between Hengsheng Electronics and Zhongtai Securities, aimed at accelerating technological innovation and promoting digital transformation in the securities industry [2][3]. - Zhongtai Securities, established in May 2001, is a large comprehensive listed brokerage firm in China, with over 10 million wealth management clients and managing assets worth 1.3 trillion yuan [2]. - The partnership will focus on various areas including institutional services, wealth management, artificial intelligence, and the construction of an independent innovation ecosystem [2][3]. Group 2 - Both companies will collaborate in digital consulting services and investment banking, establishing a long-term cooperation mechanism and setting an industry benchmark [3]. - The chairman of Zhongtai Securities highlighted the significant contributions of Hengsheng Electronics in enhancing operational efficiency and optimizing service quality, which have effectively driven the company's digital transformation [3]. - Hengsheng Electronics' co-founder emphasized that financial technology should not only support business development but also lead industry transformation, indicating a shared mission between the two companies [4].