Core Viewpoint - The article discusses the recent research conducted by QuanGuo Fund on the listed company Huichen Co., highlighting its strong performance in the data and AI sectors, as well as its strategic focus on providing comprehensive solutions in data, algorithms, and computing power. Company Overview - Huichen Co. was established in 2008 and is based in Beijing, specializing in commercial and public service sectors, serving over 2,000 clients, including Fortune 500 companies and leading brands in various industries [2][3]. - The company has developed core competencies in data collection, analysis, governance, circulation, and application, leveraging digital and AI technologies to enhance client value [3][4]. Business Model and Technology - The company operates as a comprehensive service provider for "data elements + AI" applications, focusing on data, algorithm models, and computing infrastructure [3][4]. - It utilizes advanced technologies such as big data, machine learning, deep learning, and natural language processing to drive the monetization of data assets and the application of AI [3][4][5]. - Huichen Co. has developed proprietary models for text, audio, and digital personas, and has launched the "Hui AI Intelligent Application Platform" to meet client needs for cost reduction and efficiency improvement [4][5]. Data Accumulation and Analysis - The company has accumulated extensive experience in data analysis over the past decade, serving various large and medium-sized commercial clients and public service institutions [6][7]. - Data collection and procurement costs have historically accounted for over 50% of revenue, indicating a strong commitment to data-driven services [7]. - Huichen Co. has developed a range of industry-specific data analysis technologies and models, which have been patented and are integral to its service offerings [7][8]. AI and Computing Power Solutions - The company has launched a one-stop product for intelligent computing resource management, enhancing operational efficiency and supporting diverse AI application needs [9][10]. - Recent collaborations have led to the development of an "AI Public Computing Power Platform Software" project, which includes software installation, system integration, and ongoing technical support [9][10]. - Huichen Co. is actively exploring private deployment of AI agents in sectors such as consumer goods and tobacco, with ongoing projects for major brand clients [6][8]. Future Strategy - The company aims to continue focusing on its core business areas of data, algorithms, and computing power, striving to create more value in the digital and intelligent era [11][12]. - It has initiated a stock incentive plan to enhance team cohesion and performance, reflecting confidence in achieving its operational goals and delivering shareholder value [12].

Group 1 - The tobacco sector saw an increase of 1.53%, ranking 8th among concept sectors, with 32 stocks rising, including a limit-up for Kain Co., and significant gains for Huichen Co., Xiangyi Rongtong, and Qiming Star, which rose by 8.32%, 6.01%, and 4.45% respectively [1][2] - The tobacco sector experienced a net inflow of 239 million yuan from main funds, with 16 stocks receiving net inflows, and 5 stocks exceeding 10 million yuan in net inflow, led by Qiming Star with a net inflow of 137 million yuan [2][3] - Kain Co., Zhongke Information, and Guanhao High-tech had the highest net inflow ratios at 32.04%, 13.49%, and 13.09% respectively [3][4] Group 2 - The top gainers in the tobacco sector included Qiming Star, Zhongke Information, Kain Co., and Huichen Co., with respective daily gains of 4.45%, 4.33%, 9.96%, and 8.32% [3][4] - The stocks with the largest declines included Yuanwanggu, Yaxiang Co., and Changrong Co., which fell by 4.24%, 2.35%, and 2.11% respectively [1][5] - The overall market performance showed a mixed trend with various sectors experiencing both gains and losses, indicating a diverse investment landscape [2][5]

（原标题：基金最新动向：走访这27家公司） 昨日基金共对27家公司进行调研，扎堆调研慧辰股份、上海沿浦、晶科能源等。 证券时报•数据宝统计，7月31日共35家公司被机构调研，按调研机构类型看，基金参与27家公司的调研活动，其中，10家以上基金扎堆调研公司 共10家。慧辰股份最受关注，参与调研的基金达47家；晶科能源、上海沿浦等分别获27家、27家基金集体调研。 基金参与调研的公司中，按所属板块统计，深市主板公司有7家，创业板公司有2家，沪市主板公司有13家，科创板公司有5家。所属行业来看，基 金调研的公司共涉及14个行业，所属电子、汽车等行业个股最多，均有4只个股上榜。 从基金调研公司的A股总市值统计，总市值在500亿元以上的共有3家，其中总市值超千亿元的有胜宏科技、国信证券等，总市值不足100亿元的有 13家，分别是山高环能、中润光学、维力医疗等。 近五日涨跌: -3.57% 市场表现上，基金调研股中，近5日上涨的有11只，涨幅居前的有胜宏科技、慧辰股份、电子城等，涨幅为24.08%、8.18%、6.91%；下跌的有16 只，跌幅居前的有兰生股份、中铁工业、晶科能源等，跌幅为19.87%、17.53%、7. ...

Group 1 - In the past five trading days, a total of 166 companies were investigated by institutions, with notable interest in Defu Technology, Huichen Co., and Haida Group [1][2] - Among the companies surveyed, 46 received attention from more than 20 institutions, with Defu Technology being the most popular, attracting 238 institutions [1][3] - The types of institutions involved in the surveys included 144 from securities companies, 124 from fund companies, and 67 from insurance companies, indicating a strong interest from the securities sector [1] Group 2 - In terms of market performance, 24 of the surveyed stocks increased in value, with the highest gains seen in Yinsai Group, Defu Technology, and Jiachih Technology, which rose by 26.78%, 25.24%, and 25.15% respectively [2] - Conversely, 22 stocks experienced declines, with the largest drops recorded by Sanyangma, Jinko Solar, and Lianchuang Optoelectronics, which fell by 7.84%, 7.43%, and 7.41% respectively [2] - Among the stocks that have released semi-annual reports, Jinhe Biological and Minshida reported the highest net profit growth rates of 51.52% and 42.28% respectively [2] Group 3 - Defu Technology, Huichen Co., and Haida Group were among the top companies surveyed, with closing prices of 35.93 yuan, 71.18 yuan, and 56.42 yuan respectively, and their respective price changes were 25.24%, 8.18%, and 1.93% [3][4] - The most frequently surveyed company was Weili Transmission, which was investigated four times, while Jiega Co. and Shenghong Technology were surveyed three and two times respectively [5] - The net capital inflow for the stocks with over 20 institutions involved was positive for 14 stocks, with Shenghong Technology seeing the highest net inflow of 1.213 billion yuan [1][2]

Summary of Key Points Core Viewpoint - A total of 734 stocks reported their latest shareholder numbers as of July 20, with 337 stocks showing a decline compared to the previous period, indicating a trend of decreasing shareholder engagement in certain companies [1][3]. Group 1: Shareholder Changes - Among the 734 stocks, 38 stocks experienced a decline in shareholder numbers exceeding 10% [3]. - The stock with the largest decline in shareholder numbers was Jin Yi Culture, which saw a decrease of 27.56% to 124,196 shareholders, alongside a cumulative drop of 15.33% in its stock price since the concentration of shares [3][4]. - Chuang Yi Tong followed closely with a 27.39% decrease in shareholder numbers, totaling 14,176, and a cumulative decline of 6.06% in its stock price [3][4]. Group 2: Performance of Concentrated Stocks - Stocks with concentrated holdings outperformed the Shanghai Composite Index, with 46% of these stocks achieving excess returns compared to the index [2]. - The average increase for concentrated stocks since July 1 was 5.04%, surpassing the Shanghai Composite Index's increase of 4.33% during the same period [2]. Group 3: Industry Performance - The industries with the highest concentration of stocks included machinery, basic chemicals, and electronics, with 39, 36, and 27 stocks respectively [3]. - Notable performers among concentrated stocks included Shen Shui Gui Yuan, Kang Hong Pharmaceutical, and Top Cloud Agriculture, with increases of 56.23%, 38.54%, and 37.29% respectively since July 11 [3]. Group 4: Earnings Reports - Among the concentrated stocks, *ST Ling Da reported the highest year-on-year net profit growth of 37.56% [4]. - Four stocks released preliminary earnings reports, with Bai Long Chuang Yuan and Guo Yuan Securities showing net profit growth rates of 42.68% and 40.44% respectively [4]. - A total of 102 stocks provided earnings forecasts, with 29 expecting profit increases and 9 expecting to turn profitable [4]. Group 5: Notable Stocks with Declining Shareholder Numbers - Other stocks with significant declines in shareholder numbers included Yi Hao New Materials (-26.86%), Bang Ji Technology (-25.36%), and Hui Zhong Shares (-24.28%) [4][5]. - The overall trend indicates a potential shift in investor sentiment towards these companies, as evidenced by the significant outflows of capital during the observed period [3][4].

市场表现看，换手率超5%的个股中，今日上涨的有60只，涨幅居前的有键凯科技、新锐股份、新光光 电等，分别上涨20.00%、16.50%、16.08%。跌幅居前的有中邮科技、慧辰股份、德科立等，分别下跌 6.94%、6.27%、5.18%。 分行业看，今日换手率超5%的个股中，所属医药生物行业个股最多，有28只个股上榜；计算机、电子 等紧随其后，分别有14只、11只个股上榜。 资金流向方面，高换手率个股中，有42股今日获主力资金净流入，净流入金额较多的有鼎通科技、优刻 得、有方科技，净流入金额分别为1.16亿元、1.06亿元、5834.86万元，净流出金额较多的有嘉元科技、 源杰科技、前沿生物，净流出金额分别为1.01亿元、9312.95万元、7608.17万元。 科创50指数今日上涨0.04%，报收1007.89点，科创板全日成交量37.45亿股，成交额1234.34亿元，加权 平均换手率为2.09%。 证券时报·数据宝统计显示，今日可交易科创板股中，392只股收盘上涨，涨幅超过10%的有8只，其 中，键凯科技、上纬新材、铁建重工等3股涨停，涨幅在5%至10%的有27只，收盘下跌的有189只。 科创板股换手率 ...

Investment Rating - The industry investment rating is "Outperform the Market," indicating that the industry index is expected to perform better than the benchmark index over the next 6-12 months [37]. Core Viewpoints - The report highlights the positive outlook for financial IT and cross-border payment companies due to the recent policy developments in stablecoins, RDA, and CIPS, which are expected to enhance efficiency, reduce costs, and improve transparency in cross-border payments and settlements [1][4][21]. - The stablecoin market is diversifying, with various participants including fintech companies and traditional banks, which is likely to enhance the credibility and application scenarios of stablecoins [13][14]. Summary by Sections Industry Investment Rating - The industry is rated as "Outperform the Market," with expectations of better performance compared to the benchmark index [37]. Company Dynamics - Jiuyuan Yinhai expects to achieve revenue of 414-454 million yuan in the first half of 2025, a year-on-year increase of 5%-15%, with net profit expected to grow significantly by 130%-180% [3]. - Inspur Information plans to repurchase its A-shares with a total fund of no less than 200 million yuan and no more than 300 million yuan, with an expected repurchase price not exceeding 75.59 yuan per share [3]. Investment Recommendations - The report suggests focusing on companies such as Runhe Software, Nantian Information, Borui Data, Huichen Shares, Digital Government, and Jiuyuan Yinhai, which are expected to benefit from the developments in stablecoins and related technologies [4][21]. Policy Developments - Recent policies in regions like Hong Kong and Shanghai are aimed at promoting the development of stablecoins and their applications, including the issuance of tokenized government bonds and enhancing the management mechanisms for cross-border payment systems [15][18][21]. - The introduction of the RDA paradigm by the Shanghai Data Exchange emphasizes the importance of data in verifying the authenticity and enhancing the value of real-world assets [20][21]. Market Trends - The stablecoin market is expanding into real-world applications, particularly in cross-border payments, B2B payments, and asset tokenization, which are expected to grow rapidly [14][21]. - The report notes that the development of stablecoins will increase the demand for system upgrades and related services from financial IT companies [21].

Summary of Key Points Core Viewpoint - The announcement details the results of the first category of restricted stock grants under the 2025 incentive plan by Beijing Huichen Zidao Information Co., Ltd, highlighting the number of shares granted, the participants, and the implications for the company's capital structure and financial status [1][2][3]. Group 1: Grant Details - The first category of restricted stock was registered on July 9, 2025, with a total of 1.8808 million shares granted [1]. - A total of 64 individuals received the restricted stock, with 4.52 thousand shares voluntarily forfeited by 8 participants [2]. - The distribution of the granted shares shows that 90.43% of the shares were allocated to core technical personnel and key staff [2]. Group 2: Terms and Conditions - The effective period for the restricted stock is up to 36 months from the date of registration, with a lock-up period of 12 and 24 months for different portions of the stock [3]. - The release of restrictions is scheduled in two phases: 50% after 12 months and the remaining 50% after 24 months [3]. Group 3: Financial Implications - The total funds raised from the stock grants amounted to approximately RMB 31.65 million, which will be used to supplement the company's working capital [4][6]. - The stock grant will result in an increase in the company's total share capital from 74,274,510 shares to 75,196,710 shares, maintaining compliance with listing requirements [5]. - The estimated total expense for the stock grants over the years 2025 to 2027 is approximately RMB 26.97 million, with annual amortization of costs detailed [6][7].

证券代码：688500 证券简称：慧辰股份 公告编号：2025-045 北京慧辰资道资讯股份有限公司 关于 2025 年限制性股票激励计划第一类限制性股票 授予结果公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 根据中国证监会《上市公司股权激励管理办法》、上海证券交易所、中国证 券登记结算有限责任公司上海分公司（以下简称"中证登上海分公司"）有关规 定，北京慧辰资道资讯股份有限公司（以下简称"公司"）已收到中证登上海分 公司出具的《证券变更登记证明》。根据《证券变更登记证明》，公司于 2025 年 7 月 9 日完成了 2025 年限制性股票激励计划第一类限制性股票授予登记工作， 有关具体情况公告如下： 一、第一类限制性股票授予情况 （一）第一类限制性股票授予情况 公司根据 2024 年年度股东大会授权，于 2025 年 5 月 16 日召开的第四届董 事会第二十一次会议、第四届监事会第十五次会议，审议通过了《关于向 2025 年限制性股票激励计划激励对象授予限制性股票的议案》，本次激励计划第一类 限 ...

证券代码：688500 证券简称：慧辰股份 公告编号：2025-044 北京慧辰资道资讯股份有限公司 关于股份性质变更暨 2025 年限制性股票激励计划权 益授予的进展公告 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、准确性和完整性依法承担法律责任。 北京慧辰资道资讯股份有限公司（以下简称"公司"）2025年限制性股票激 励计划（以下简称"本次激励计划"）规定的限制性股票授予条件已经成就。根 据公司2024年年度股东大会授权，公司于2025年5月16日召开的第四届董事会第 二十一次会议、第四届监事会第十五次会议，审议通过了《关于向2025年限制性 股票激励计划激励对象授予限制性股票的议案》，确定以2025年5月16日为授予 日，以16.83元/股的授予价格向72名激励对象授予192.60万股第一类限制性股票。 具体内容详见公司在上海证券交易所网站（www.sse.com.cn）披露的《关于向2025 （公告编号：2025-035）。 年限制性股票激励计划激励对象授予限制性股票的公告》 目前本次激励计划首次授予的第一类限制性股票的激励对象已完成缴款。在 ...