Core Viewpoint - Wealth Trend (688318.SH) plans to use idle self-owned funds not exceeding RMB 1.7 billion for external investments, raising market concerns about cash flow and compliance with regulations [1][4]. Investment Authorization - The board approved an investment authorization for the general manager to use up to RMB 1.7 billion for external investments within 12 months, ensuring fund safety and compliance [2][4]. Compliance and Fund Composition - The investment authorization complies with relevant regulations and does not require shareholder approval, as it involves self-owned funds, not raised funds [4][3]. The total assets exceed RMB 3.8 billion, and the investment does not exceed 50% of total assets or market value [4]. Investment Strategy - The investment will focus on fixed income products, non-fixed income products, and equity assets, with strict risk control measures in place [4][5]. A funds management committee oversees the investment process to ensure safety and compliance [5]. Financial Performance - For Q3 2025, the company reported total revenue of RMB 198 million, a year-on-year decline of 5.71%, while net profit increased by 27.91% to RMB 184 million [6][7]. The revenue drop is attributed to reduced demand from financial institutions, while net profit growth is due to increased cash management income and cost control [7]. Cash Flow Concerns - Operating cash flow decreased by 40.75% year-on-year, raising concerns about potential cash flow crises due to ongoing large-scale investments [8]. The decline is linked to lower bank deposit income and increased upfront cash expenditures for business growth [8]. Market Reaction - The company's stock price fell over 27% from its peak of RMB 180.86 in late August to RMB 131.92 by mid-December, influenced by broader market trends in the fintech sector [10][11]. Future Development Strategy - In 2026, the company aims to expand its B-end business, enhance product development in bonds, and strengthen its securities information service, with a focus on AI as a strategic direction [12]. The company plans to leverage its advantages to enhance user engagement and competitive strength [12].

Group 1 - The company announced a change in its signing registered accountants from Wang Tao and Zhang Zhuo to Wang Tao and Gao Shiqi [2]

Group 1 - The company, Wealth Trend, stated that the number of shareholders will be disclosed in each periodic report according to the principle of information disclosure fairness [2]

深圳市财富趋势科技股份有限公司（以下简称"公司"）分别于 2025 年 3 月 29 日、2025 年 5 月 20 日召开第五届董事会第十七次会议、2024 年年度股东 大会，审议通过了《关于续聘 2025 年审计机构的议案》，同意续聘中审众环会 计师事务所（特殊普通合伙）作为公司 2025 年度审计机构。具体内容详见公司 于 2025 年 3 月 29 日在上海证券交易所（www.sse.com.cn）披露的《关于续聘 2025 年度审计机构的公告》（公告编号 2025-014）。 近日，公司收到中审众环会计师事务所出具的《关于变更 2025 年度审计签 字注册会计师的告知函》，现将具体情况公告如下： 一、本次签字会计师变更的基本情况 中审众环会计师事务所作为公司 2025 年度财务报告及内部控制的审计机构， 原委派王涛和张卓作为签字注册会计师。鉴于原签字注册会计师张卓先生工作 调整，为更好地完成公司 2025 年度审计工作，中审众环指派高仕奇先生作为签 字注册会计师继续为公司提供审计服务。公司的签字注册会计师由王涛、张卓 变更为王涛、高仕奇。 二、本次变更签字注册会计师的基本信息 证券代码：688318 ...

证券代码：688318 证券简称：财富趋势 公告编号：2025-038 深圳市财富趋势科技股份有限公司 关于授权总经理对外投资额度的公告 本公司董事会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、准确性和完整性依法承担法律责任。 深圳市财富趋势科技股份有限公司（以下简称"公司"）于 2025 年 12 月 8 日召开第六届董事会第三次会议，会议审议通过了《关于授权总经理对外投资 额度的议案》，在保证日常经营资金需求和资金安全的前提下，同意公司（包括 下属的全资、控股子公司）使用闲置自有资金不超过人民币 170,000 万元（包 含本数）购买固定收益类产品、非固定收益类产品、权益类资产等，自董事会 通过之日起 12 个月之内有效，在上述额度及期限内，资金可以滚动使用。具体 情况如下： 一、本次使用自有闲置资金进行投资理财的情况 1、投资目的 鉴于公司资产规模逐步壮大，为了提升资金使用效率，在不影响公司主营 业务正常开展，确保公司经营资金需求和资金安全的前提下，公司使用闲置自 有资金进行投资理财，可以提高资金使用效率及资金收益，为公司股东谋取更 多的投资回报。 2、资 ...

证券代码：688318 证券简称：财富趋势 公告编号：2025-037 深圳市财富趋势科技股份有限公司 本次会议应到董事 7 人，实到董事 7 人。本次会议的召开符合《公司法》、 《公司章程》以及有关法律、法规的规定。会议由董事会秘书田进恩先生主持， 公司高级管理人员列席了会议。 二、董事会会议审议情况 本次会议审议并通过以下议案： （一）审议通过《关于授权总经理对外投资额度的议案》 在确保资金安全、操作合法合规、保证日常经营不受影响的前提下，公司 （包括下属的全资、控股子公司）拟使用闲置自有资金不超过人民币 170,000 万元（包含本数）进行对外投资，使用期限为 12 个月，自董事会通过之日起 12 个月之内有效，在上述额度及期限内，资金可以滚动使用。在额度范围内公 司董事会授权总经理签署相关法律文件或就相关事项进行决策，具体事项由公 司财务部负责组织实施。公司将按照相关规定严格控制风险，严格遵守审慎投 资原则，筛选投资对象，购买安全性高、信誉好的投资理财产品，风险可控。 具体内容详见公司同日在上海证券交易所网站（www.sse.com.cn）披露的 相关公告。 表决结果：同意 7 票，反对 0 票，弃权 ...

Core Viewpoint - The company, Wealth Trend (688318.SH), announced plans to invest up to 1.7 billion yuan of its own funds for external investments, with a validity period of 12 months from the date of board approval [1] Group 1: Investment Plans - The company intends to utilize no more than 1.7 billion yuan for external investments [1] - The investment period is set for 12 months, effective from the date the board approves the plan [1] Group 2: Donations - The company plans to donate 10 million yuan to the Tsinghua University Education Foundation [1] - The donation aims to support the research and development of the Tsinghua University Institute of Interdisciplinary Information [1]

Group 1 - The core point of the article highlights the announcement by Wealth Trend (SH 688318) regarding its board meeting held on December 8, 2025, which discussed various proposals including external donations [1] - For the year 2024, the revenue composition of Wealth Trend is reported to be 99.95% from computer services and software, with other businesses contributing only 0.05% [1] - As of the report, Wealth Trend's market capitalization stands at 34.8 billion yuan [1]

Core Viewpoint - The company has approved a proposal to authorize the general manager to invest up to RMB 1.7 billion in various financial products to enhance fund utilization efficiency and provide better returns for shareholders [1] Group 1 - The board of directors will hold its third meeting on December 8, 2025, to review the investment proposal [1] - The approved investment includes fixed income products, non-fixed income products, and equity assets [1] - The investment authorization is valid for 12 months from the date of board approval, and the funds can be used on a rolling basis [1]

Summary of Financial Technology Conference Call Industry Overview - The financial technology sector is experiencing positive policy guidance aimed at promoting high-quality development and technological investment across banking, insurance, and brokerage industries, providing long-term investment value assurance for related companies [1][18] Key Insights and Arguments - Financial IT investment continues to grow, although the growth rate is slowing down. The B-end of the securities IT sector is dominated by companies like Hang Seng, Vertex, and Jinzheng, while the C-end is led by Tonghuashun and Wealth Trend. Tonghuashun has begun to develop AI systems, but the revenue contribution is still small [1][4][5] - The financial technology index has outperformed the broader market, with Tonghuashun, Wealth Trend, and Oriental Fortune showing significant price increases. Stock prices are highly correlated with market trading activity, necessitating attention to new account openings and average daily transaction volume [1][8] - Short-term focus should be on changes in market share for Oriental Fortune's brokerage and margin financing businesses, while long-term attention should be on AI product development. The impact of fee policy adjustments on fund distribution business is limited, with overall adverse factors largely eliminated [1][9] Company-Specific Highlights - **Oriental Fortune**: Achieved significant results through a multi-license and multi-traffic ecosystem model. Short-term focus on market share changes in brokerage and margin financing, and long-term focus on AI product development [6][9] - **Tonghuashun**: Short-term performance elasticity is mainly reflected in C-end advertising and internet promotion, with significant year-on-year growth. The company assists financial institutions in generating revenue [6][10][12] - **Wealth Trend**: Relies on historical high-quality traffic and license acquisitions for monetization [6] - **Vertex and Ninefang**: Both depend on market activity for product sales growth, with a long-term focus on license monetization [12] Market Performance and Valuation - As of November 13, 2025, the financial technology index has increased by 74%, significantly outperforming the Wind All A Index (42%) and the CSI 300 Index (39%). Notable stock price increases were observed in Tonghuashun (27%), Wealth Trend (38%), and Oriental Fortune (approximately 5%) [8] - The financial technology sector's PE valuation is approximately 66 times, higher than the historical percentile of 14%. Leading companies like Oriental Fortune and Hang Seng have lower volatility in valuations, while others like Wealth Trend and Vertex show mixed valuation percentiles [16] Recommendations - Recommended companies for investment include Oriental Fortune, Wealth Trend, Hang Seng, Vertex, Changliang Technology, Yuxin Technology, and Jinzheng. These companies have strong fundamentals and configuration value, with steady growth opportunities from the ongoing promotion of Xinchuang [2][17] - Long-term investment opportunities in B-end IT companies include Hang Seng, Vertex, Changliang Technology, Yuxin Technology, and Jinzheng, all showing improving fundamentals and growth potential [21] Policy Impact - Financial technology policies from 2021 to 2025 cover multiple sectors, promoting high-quality development and encouraging investment in financial technology, which is expected to positively influence the industry's development [18] Development Directions for Financial IT Companies - Broker IT focuses on production system construction and AI system updates for new revenue. Internet finance should prioritize traffic acquisition and product license monetization, while bank IT needs to meet diverse customer service demands and focus on overseas orders [19]