证券代码：603383 证券简称：顶点软件 公告编号：2025-016 福建顶点软件股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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： 投资者可于 2025 年 8 月 19 日(星期二)至 8 月 25 日(星期一)16:00 前登录上 证路演中心网站首页点击"提问预征集"栏目或通过邮箱 603383@apexsoft.com. cn 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 福建顶点软件股份有限公司（以下简称"公司"）将于 2025 年 8 月 26 日发 布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半 年度经营成果、财务状况，公司计划于 2025 年 8 月 26 日（星期二）15:00-16:00 举行 2025 年半年度业绩说明会，就投资者关心的问题进行交流。 一、 说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2025 年半年度的经营 成果及财务指标的具体情况与投资者进行互动 ...

金融界消息 截至2025年8月15日收盘，顶点软件（603383）报收于43.06元，上涨5.28%，换手率 8.96%，成交量18.32万手，成交金额7.79亿元。 通过天眼查大数据分析，福建顶点软件股份有限公司共对外投资了13家企业，参与招投标项目1014次， 知识产权方面有商标信息7条，专利信息10条，此外企业还拥有行政许可1个。 来源：金融界 顶点软件最新一期业绩显示，截至2025一季报，公司营业总收入1.42亿元、同比增长3.16%，归属净利 润2132.46万元，同比增长31.57%，扣非净利润1730.17万元，同比增长44.93%，流动比率5.390、速动比 率4.927、资产负债率14.75%。 天眼查商业履历信息显示，福建顶点软件股份有限公司，成立于2000年，位于福州市，是一家以从事软 件和信息技术服务业为主的企业。企业注册资本20538.6979万人民币，实缴资本10869.1742万人民币。 公司法定代表人为严孟宇。 资金流向方面，今日主力资金净流入1472.28万元，占比成交额1.89%。其中，超大单净流入3454.03万 元、占成交额4.43%，大单净流出1981.75万元、占成 ...

Investment Rating - The industry investment rating is optimistic [1] Core Insights - The financial IT sector shows significant elasticity during the initial stages of a bull market, with notable price increases and valuation expansions [3] - The combination of technology and finance attributes leads to a "Davis Double Play" effect during bull markets, particularly highlighted in 2015 [4] - Current advancements in AI and new business developments are expected to drive further growth in the financial IT sector [5] Summary by Sections 2014-2015: Liquidity Explosion, Financial Technology Leads - The bull market from 2014 to 2015 was driven by ample liquidity and the rise of mobile internet, leading to significant gains in financial technology stocks [15][19] - Financial technology stocks experienced substantial price increases, with some stocks seeing gains close to 450% compared to mid-2014 levels [4] - The financial IT sector benefited from increased investor participation and software usage during the bull market [33] 2016-2018: Structural Bull Market, Varied Performance in Financial Technology - The period from 2016 to 2018 was characterized by a structural bull market influenced by supply-side reforms and foreign capital inflows [43] - Financial technology stocks underperformed compared to the broader market during this period, primarily due to high valuations and changing market preferences [46][52] - The financial IT sector faced challenges as the market shifted focus towards blue-chip and consumer stocks, leading to a decline in growth stocks [56] 2019-2021: Core Assets Drive Structural Bull Market - The financial technology sector saw a resurgence from 2019 to 2021, driven by global liquidity and domestic industrial upgrades [70] - The introduction of the Sci-Tech Innovation Board in 2019 significantly boosted the financial technology sector, with strong performance noted in various market phases [76][81] - Financial technology stocks outperformed the market during key periods, reflecting the sector's recovery and growth potential [82]

Investment Rating - The report indicates a positive outlook for the securities industry, emphasizing the importance of continuous IT investment for improving customer experience and operational efficiency [30][31]. Core Insights - In 2024, the top ten securities companies in IT investment are all leading domestic firms, each investing over RMB 1 billion, with Huatai Securities and Guotai Junan exceeding RMB 2 billion. The total IT investment by these companies is RMB 15.58 billion, reflecting a 1.4% year-on-year increase. Seven companies increased their investment, while three decreased [37]. - The report highlights that the IT investment of the top ten securities companies exceeds 10% of their net profit, with the highest ratios observed in Guotai Securities (42%), China International Capital Corporation (32%), and Huatai Securities (28%) [15][22]. - The report notes that the growth in IT investment is particularly strong among small to medium-sized securities firms, with First Capital Securities, Caida Securities, and Everbright Securities leading in growth rates, each exceeding 20% [12][30]. Summary by Sections IT Investment Overview - The top ten securities companies' IT investment amounts to RMB 15.58 billion in 2024, a slight increase from RMB 15.36 billion in 2023. The highest investments are from Huatai Securities (RMB 2.448 billion) and Guotai Junan (RMB 2.200 billion) [6][7]. - Seven of the top ten companies increased their IT investment compared to 2023, with notable growth from Guosen Securities (13.8%), Shenwan Hongyuan (9.2%), and Galaxy Securities (7.1%) [7][12]. IT Personnel and Standards - The report states that four of the top ten securities companies have IT personnel constituting over 7% of their total workforce, with China Merchants Securities leading at 16.3% [25][29]. - The Securities Association of China encourages firms to increase IT staff to 7% of total employees, and several companies have made progress in this area [13][25]. Investment Recommendations - Continuous IT investment is deemed crucial for enhancing customer experience, driving business growth, and improving operational efficiency. The report suggests that the rise of AI technologies will further accelerate IT investments in the securities sector [30][31]. - Recommended companies for investment in the IT services sector include Hundsun Technologies, Kingdom Sci-Tech, and Fujian Apex Software [31].

Group 1 - The stock price of Top Point Software (603383) closed at 41.38 yuan on August 1, 2025, down 0.91% with a turnover rate of 2.96% and a trading volume of 60,500 lots, amounting to 251 million yuan [1] - The latest financial report for Top Point Software shows total revenue of 142 million yuan for Q1 2025, a year-on-year increase of 3.16%, and a net profit attributable to shareholders of 21.32 million yuan, up 31.57% year-on-year [1] - The company has a current ratio of 5.390, a quick ratio of 4.927, and a debt-to-asset ratio of 14.75% [1] Group 2 - Top Point Software has made investments in 13 companies and participated in 999 bidding projects [2] - The company holds 7 trademark registrations and 10 patents, along with 1 administrative license [2]

Summary of Conference Call Records Industry Overview - The conference call discusses the performance and outlook of the financial technology (FinTech) sector, particularly focusing on the capital markets and banking IT companies in China. The analysis covers 36 fund companies and 26 listed brokerages, providing insights into their revenue, IT investments, and personnel trends from 2019 to 2024 [1][2][3]. Key Points and Arguments Revenue and Growth Trends - For 2024, the overall revenue and operational metrics of the fund companies are expected to remain stable compared to 2023, with some indicators showing a decline, yet still better than 2020 [1]. - The total revenue of ten A-share capital market IT companies is projected to decline year-on-year in 2024, despite an increase in gross profit margin [3]. - Retail software companies are experiencing significant growth, with one company reporting a 60% year-on-year increase in revenue due to an acquisition in November 2023 [4]. IT Investment Insights - The growth rate of IT investments among brokerages is lower than revenue growth, attributed to budget constraints and the timing of budget approvals [2]. - In 2024, the IT investment of the six major state-owned banks is expected to remain flat, accounting for 3.52% of total revenue, a slight increase from 2023 [5][6]. - Despite a trend of reducing personnel, the number of technology staff in brokerages has seen a slight year-on-year increase of 0.8%, indicating a focus on technology despite overall staff reductions [2][6]. Profitability and Challenges - The profitability of banks is under pressure, with a notable decline in net profit by approximately 20% due to reduced IT investments and extended project timelines [7]. - The cash flow for 2024 is expected to decline year-on-year, reflecting the overall revenue downturn in the industry [9]. Future Growth Drivers - The growth drivers for both capital market IT and banking IT in 2025 are anticipated to include innovation, artificial intelligence (AI), and exploration of overseas markets [9][15]. - Companies are increasingly focusing on AI to enhance operational efficiency, with various firms developing integrated solutions for smaller banks to improve their service capabilities [11][12]. Market Opportunities - There is a growing trend of companies exploring international markets, particularly in Southeast Asia, with some firms already achieving over 15% of their revenue from overseas [15]. - The competitive advantage of Chinese IT firms in Southeast Asia is highlighted, with successful project implementations in countries like Thailand [15]. Other Important Insights - The conference call emphasizes the importance of monitoring large project confirmations and the impact of AI on business restructuring within the financial IT sector [10][12]. - The overall sentiment towards the capital market remains optimistic, with expectations of improved performance driven by AI and new innovations in 2024 [16]. This summary encapsulates the key discussions and insights from the conference call, providing a comprehensive overview of the current state and future outlook of the financial technology industry in China.

Investment Rating - The report maintains a positive outlook on the computer industry for Q2 2025, indicating an expected improvement in performance [2][4]. Core Insights - The report predicts a gradual recovery in industry profits starting from Q2 2025, with revenue growth rates of 5% and 21% for Q4 2024 and Q1 2025 respectively, and net profit growth rates of -68% and 82% [4][5]. - A total of 55 tracked A-share and Hong Kong-listed computer companies are analyzed, with 13 companies expected to achieve over 50% net profit growth, representing 23.6% of the sample [4][5]. - The report identifies key investment targets across various segments, including AIGC, digital economy leaders, and data innovation [4][5]. Summary by Category Company Performance Predictions - Companies with over 50% net profit growth include: - Jinzheng Co. (4493%) - Zhongke Chuangda (333%) - Zhina Zhen (313%) - Kalait (265%) - Hengsheng Electronics (233%) [4][5][6]. - Companies with 30%-50% net profit growth include: - Dameng Data (48%) - Fanwei Network (39%) - New Point Software (38%) [4][5][6]. - Companies with 0%-30% net profit growth include: - Dongfang Caifu (27%) - Haiguang Information (27%) - Desai Xiwai (27%) [4][5][6]. - Companies with -30% to 0% net profit growth include: - Weining Health (-4%) - Nova Star Cloud (-11%) [4][5][6]. - Companies with less than -30% net profit growth include: - Qiming Star (-30%) - Top Point Software (-36%) [4][5][6]. Key Investment Targets - AIGC Segment: Jinshan Office, Wanxing Technology, Daotong Technology, Hongsoft Technology, and others [4]. - Digital Economy Leaders: Hikvision, Jinshan Office, Hengsheng Electronics, and others [4]. - Data Innovation: Haiguang Information, Ruantong Power, Suocheng Technology, and others [4]. - AIGC Computing Power: Langchao Information, Haiguang Information, and others [4].

Investment Rating - The report maintains a "Positive" investment rating for the computer industry, specifically focusing on Real World Assets (RWA) [4] Core Insights - RWA represents a transformative innovation in financial technology by converting real-world assets into digital assets on the blockchain, potentially leading to exponential growth in the sector [2][6] - The global RWA asset market reached $24.5 billion as of June 2025, with projections to exceed $16 trillion by 2030, indicating a significant opportunity for investment [6][18] - The report emphasizes the importance of regulatory frameworks being established globally to support the growth of RWA, with regions like Hong Kong and the EU leading the way [26][30] Summary by Sections RWA: Connecting Real World Assets to Blockchain - RWA involves the tokenization of tangible and intangible assets through blockchain technology, enhancing liquidity and reducing transaction costs [11][12] - The RWA market is rapidly expanding, with a diverse range of assets including real estate, bonds, and commodities being tokenized [15][16] RWA Issuance Process and Regulatory Framework - The RWA issuance process consists of five key steps: asset selection, legal and compliance framework establishment, technology implementation, token issuance, and ongoing management [21][23] - Various countries are developing regulatory frameworks for RWA, with Hong Kong adopting a sandbox approach to foster innovation while ensuring compliance [26][30] Expansion of Asset Classes and RWA Market - RWA assets can be categorized into cash flow, equity, and non-cash flow assets, with credit and bonds currently leading the market [35][36] - The report highlights the significant growth potential in the RWA sector, particularly in tokenized real estate and securities, which are becoming increasingly popular [46][53] RWA Industry Ecosystem - The RWA ecosystem is forming a collaborative industry chain involving asset providers, technology firms, platforms, compliance custodians, and investors [4][6] - Key players in the blockchain and fintech sectors are recommended for investment, including companies like 恒生电子 and 新国都 [2][6]

Investment Rating - The report maintains a "Recommend" rating for the industry, indicating a positive outlook for the sector's fundamentals and expected performance relative to the benchmark index [3][27]. Core Insights - The report emphasizes the ongoing focus on stablecoins and Real World Assets (RWA), particularly in light of recent discussions by the Shanghai State-owned Assets Supervision and Administration Commission regarding cryptocurrency and stablecoin development [6][9]. - RDA (Real Data Assets) is highlighted as a key innovation in the RWA space, aiming to enhance the marketization and valuation of data elements, thus driving efficiency in the integration of real assets and capital [10][12]. Industry Overview - The industry comprises 284 listed companies with a total market capitalization of 3,586.9 billion and a circulating market value of 3,156.1 billion [3]. - The computer sector has shown strong performance, with absolute returns of 78.1% over 12 months and relative performance of 62.3% compared to the benchmark [5]. Market Developments - The report notes significant developments in the stablecoin sector, particularly the push for a pilot program for RMB stablecoins in the Shanghai Free Trade Zone [9][10]. - RDA is positioned as a transformative force in the data asset market, with its framework designed to facilitate the valuation and trading of data assets, thereby unlocking new financing channels for enterprises [12][13]. Investment Recommendations - The report suggests focusing on companies involved in stablecoin issuance, cryptocurrency exchanges, IT service providers, and cross-border payment firms, with specific mentions of companies like 恒生电子, 顶点软件, and 朗新集团 [15][16]. - It also highlights the potential of RDA to accelerate the marketization and valuation of data elements, recommending investments in infrastructure firms and data service providers [16].

Investment Rating - The industry maintains a "Recommended" investment rating, indicating a positive outlook for the sector's fundamentals and expected performance exceeding the benchmark index [2][39]. Core Insights - The report highlights significant advancements in stablecoins and RWA (Real World Assets) both domestically and internationally, with a focus on the integration of these innovations into traditional finance, suggesting a potential global financial innovation cycle [5][27]. - The report emphasizes the continuous progress in the unmanned logistics sector, particularly through JD Logistics' introduction of self-developed unmanned vehicles and drones, which are expected to enhance operational efficiency and reduce costs significantly [19][21]. - The AI industry is witnessing ongoing developments, particularly in large model applications, with notable advancements from companies like Baidu and Microsoft, indicating a robust growth trajectory in AI-driven solutions across various sectors [23][24]. Summary by Sections RWA and Stablecoin Developments - The report details the launch of stock tokenization services by Robinhood and other platforms, allowing for trading of over 200 US stocks and ETFs with features like zero commission and low trading thresholds [9][11]. - Domestic interest in offshore RMB stablecoins is rising, with companies like JD and Ant Group advocating for regulatory approval to enhance RMB internationalization [14][15]. Unmanned Logistics Updates - JD Logistics has unveiled its self-developed unmanned light truck, capable of a 400 km range and L4 autonomous driving, which can reduce logistics costs by approximately 60% [19][21]. - The report also discusses the launch of JD's intelligent delivery vehicles and drones, designed for various logistics applications, showcasing significant technological advancements in the sector [21][22]. AI Industry Chain Updates - Baidu's release of the ERNIE 4.5 series models marks a significant step in AI model development, with open-source capabilities enhancing accessibility for developers [23]. - Microsoft's AI diagnostic tool demonstrates a fourfold improvement in disease diagnosis accuracy compared to human doctors, indicating the transformative potential of AI in healthcare [24]. Market Performance Review - The computer sector experienced a decline of 1.28% in the first week of July 2025, with notable stock performances from companies like Xuanji Information and ST Saiwei [29][30].