行 业 及 产 业 2025 年 06 月 02 日 EDA 加强对华管制！香港发布《稳 行 业 研 究 / 行 业 点 评 相关研究 《Robotaxi 盈利弹性来源！AI 产业三大进 展—— 计算机行业周报 20250519- 20250523 》 2025/05/24 《算力当前三大关注！ ——计算机行业周 报 20250512-20250516 》 2025/05/17 证券分析师 黄忠煌 A0230519110001 huangzh@swsresearch.com 洪依真 A0230519060003 hongyz@swsresearch.com 胡雪飞 A0230522120002 huxf@swsresearch.com 刘洋 A0230513050006 liuyang2@swsresearch.com 研究支持 崔航 A0230524080005 cuihang@swsresearch.com 徐平平 A0230123060004 xupp@swsresearch.com 曹峥 A0230525040002 caozheng@swsresearch.com 陈晴华 A023012309001 ...

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]

Wind数据显示，截至2025年5月30日 11:06，中证数字经济主题指数(931582)下跌1.45%。成分股方面涨 跌互现，恒生电子(600570)领涨0.72%，沪硅产业(688126)上涨0.21%，龙芯中科(688047)上涨0.11%；华 大九天(301269)领跌4.66%，寒武纪(688256)下跌4.06%，德赛西威(002920)下跌4.04%。数字经济 ETF(560800)下跌1.74%，最新报价0.73元。流动性方面，数字经济ETF盘中换手1.37%，成交1025.70万 元。拉长时间看，截至5月29日，数字经济ETF近1年日均成交2294.51万元。（以上所列示股票为指数 成份股，仅做示意不作为个股推荐。过往持仓情况不代表基金未来的投资方向，也不代表具体的投资建 议，投资方向、基金具体持仓可能发生变化。市场有风险，投资需谨慎。) | 股票代码 | 股票简称 | 涨跌幅 | 权重 | | --- | --- | --- | --- | | 300059 | 东方财富 | -1.15% | 8.12% | | 688889 | 中芯国际 | -1.55% | 6.58% | | 30 ...

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].

证券代码：600570 证券简称：恒生电子 公告编号：2025-034 恒生电子股份有限公司 2024年年度权益分派实施公告 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： 每股分配比例 A 股每股现金红利0.1元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/6/5 | － | 2025/6/6 | 2025/6/6 | 3. 差异化分红送转方案： （1）差异化分红送转方案 根据公司 2024 年年度股东大会审议通过的利润分配方案，公司以实施权益分派股权登记 日登记的总股本扣除公司回购专用证券账户持有的股票数量为基数，向全体股东每 10 股派发 现金红利 1.0 元（含税）。 截至本公告日，公司总股本为 1,891,767,477 股。其中，存放于公司回购专用证券账户 中的股票数量为 2,792,227 股，该部分股票不参与本次利润分配。实际参与本次利润分配的 股份数量为 ...

Group 1 - The core viewpoint of the news highlights the active performance of the fintech sector, with significant rebounds in related ETFs, indicating a positive market sentiment towards financial technology stocks [1][3]. - Three fintech-related ETFs showed half-day gains exceeding 4.5%, leading the market in terms of performance [1][3]. - The financial technology ETFs have experienced a slight decrease in shares this year, with the fintech ETF (159851) seeing a reduction of 12.5 million shares, representing a change rate of -3.83% [2]. Group 2 - The investment logic suggests that the Chinese government is accelerating the construction of a financial powerhouse through policies that support "technology finance" and "digital finance," enhancing financial support for achieving high-level technological self-reliance [3]. - Demand from banks, insurance, and securities institutions is expected to increase IT investments driven by the transition to new systems and the construction of intelligent platforms, with a notable rise in IT demand from small and medium-sized financial institutions [3]. - The core investment areas for financial institutions currently focus on cloud technology, with large models and AI agents anticipated to improve operational efficiency [3]. Group 3 - The CSI Financial Technology Theme Index selects listed companies involved in financial technology-related products and services to reflect the overall performance of these securities [4]. - The major weighted stocks in the CSI Financial Technology Theme Index include companies like Tonghuashun (8.88%), Dongfang Caifu (8.86%), and Runhe Software (7.69%), indicating a diverse representation of the sector [5].

截至2025年5月29日 11:22，中证计算机主题指数(930651)强势上涨1.93%，成分股朗新集团(300682)上涨19.97%，云从科技(688327)上涨6.66%，千方科技 (002373)上涨5.22%，广电运通(002152)，新大陆(000997)等个股跟涨。计算机ETF(159998)上涨2.25%，最新价报0.87元。流动性方面，计算机ETF盘中换手 1.73%，成交4908.38万元。 该机构认为，市场波动中建议采取均衡配置策略。虽然合并细节尚待披露，但产业趋势已非常明确：算力需求的结构性变化正推动国产芯片与云计算深度融 合。投资者可通过计算机（涵盖云计算）、芯片等ETF分散布局，既能规避单一公司的不确定性，又能把握国产算力产业整体升级红利。需要警惕的是，短 期停牌可能引发相关概念股波动，但中长期看，政策支持与市场需求双重驱动下，国产算力核心环节的配置价值将持续凸显。 规模方面，计算机ETF近2周规模增长2302.28万元，实现显著增长，新增规模位居可比基金1/2。 份额方面，计算机ETF近1周份额增长5760.00万份，实现显著增长，新增份额位居可比基金1/2。 从资金净流入方面 ...

Core Viewpoint - The article presents the market capitalization rankings of the top 50 Chinese technology and internet companies as of May 28, 2025, highlighting significant players in the industry and their respective valuations. Group 1: Top Companies by Market Capitalization - Xiaomi Group ranks 4th with a market capitalization of 1743.47 billion [3] - Pinduoduo is in 5th place with a market capitalization of 1461.95 billion [3] - Meituan holds the 6th position with a market capitalization of 1015.04 billion [3] - JD.com is ranked 8th with a market capitalization of 469.06 billion [4] - Dongfang Caifu is in 9th place with a market capitalization of 453.3 billion [4] - SMIC (Semiconductor Manufacturing International Corporation) ranks 10th with a market capitalization of 417.46 billion [4] Group 2: Additional Notable Companies - Li Auto is ranked 11th with a market capitalization of 302.29 billion [4] - Kuaishou is in 13th place with a market capitalization of 280.69 billion [4] - Tencent Music ranks 14th with a market capitalization of 277.41 billion [4] - Beike is in 15th place with a market capitalization of 220.21 billion [4] - Xpeng Motors ranks 17th with a market capitalization of 183.98 billion [4] Group 3: Companies with Lower Rankings - Vipshop is ranked 25th with a market capitalization of 72.55 billion [5] - Kingsoft is in 27th place with a market capitalization of 66.6 billion [5] - Trip.com ranks 28th with a market capitalization of 64.87 billion [5] - Yonyou Network is in 29th place with a market capitalization of 61.8 billion [5] - New Oriental ranks 24th with a market capitalization of 76.96 billion [6]