新致软件所属申万行业为：计算机-软件开发-垂直应用软件。所属概念板块包括：跨境支付、国产软 件、RPA概念、数字货币、一体机概念等。 截至9月30日，新致软件股东户数1.28万，较上期增加1.81%；人均流通股20527股，较上期减少1.78%。 2025年1月-9月，新致软件实现营业收入14.39亿元，同比增长3.97%；归母净利润3102.19万元，同比减 少3.04%。 分红方面，新致软件A股上市后累计派现9888.16万元。近三年，累计派现2971.31万元。 机构持仓方面，截止2025年9月30日，新致软件十大流通股东中，华宝中证金融科技主题ETF （159851）位居第八大流通股东，持股355.12万股，为新进股东。香港中央结算有限公司位居第九大流 通股东，持股353.52万股，为新进股东。易方达供给改革混合（002910）退出十大流通股东之列。 11月24日，新致软件盘中上涨2.01%，截至10:41，报18.75元/股，成交3551.52万元，换手率0.73%，总 市值49.29亿元。 资金流向方面，主力资金净流出152.55万元，特大单买入0.00元，占比0.00%，卖出181.80万元，占 ...

Investment Rating - The report suggests a positive investment outlook for the financial industry, highlighting its strong alignment with AI application and digital transformation needs [3][7]. Core Insights - The financial industry is identified as an ideal "testing ground" for AI applications due to its data-intensive nature and the increasing demand for digital transformation [1][7]. - The release of DeepSeek R1 in 2025 is anticipated to be a pivotal moment for local AI deployment in financial institutions, enhancing model reasoning capabilities and reducing costs [3][7]. - AI applications are rapidly penetrating core business areas and back-office functions within various financial institutions, with the potential to reshape business processes and organizational structures [3][7]. Summary by Sections Investment Recommendations - The report emphasizes the financial sector's need for digital transformation, which aligns well with the characteristics of large models in AI. It predicts a shift from "digital intelligence" to "artificial intelligence" in financial institutions [7]. - Key areas to focus on include: 1. Financial information services with relevant companies like Tonghuashun, Jiufang Zhitu Holdings, and Guiding Compass [8]. 2. Third-party payment services, particularly New大陆 and New国都, with related companies like Lakala [9]. 3. Bank IT, focusing on companies such as Yuxin Technology, Jingbeifang, and Guodian Yuntong [9]. 4. Securities IT, with a focus on companies like Hengsheng Electronics and Jinzhen Shares [10]. 5. Insurance IT, highlighting companies like Newzhisoft and Zhongke Soft [11]. Industry Drivers and Policy Support - The report discusses the strong internal and external drivers for AI application in finance, including the continuous expansion of IT spending by financial institutions and supportive government policies [14][25]. - The maturity of large model technology and its alignment with the financial industry's needs are emphasized, indicating a shift towards industry adaptation [14][18]. Technical Aspects - The report outlines two main technical paths for AI integration in finance: general models trained with financial data and specialized financial models [36]. - DeepSeek R1 is highlighted as a significant advancement in AI deployment for financial institutions, offering enhanced reasoning capabilities and cost efficiency [45][52]. - The report notes that the performance of DeepSeek R1 has improved significantly, with accuracy rates in complex reasoning tasks rising from 70% to 87.5% after updates [48]. Market Trends - The financial sector's technology investment is projected to grow significantly, with a total expected investment of 650 billion yuan by 2028, reflecting a compound annual growth rate of approximately 13.3% [25][31]. - The report indicates a notable increase in AI-related procurement projects within the financial sector, with 133 large model projects initiated in 2024 alone [27][35].

Core Viewpoint - The article discusses the recent trends in the A-share market, highlighting the performance of various sectors and stocks, particularly in the context of AI, hydrogen energy, and lithium battery industries. Group 1: Market Performance - On November 17, the three major indices all closed lower, with the Shanghai Composite Index down 0.46%, the Shenzhen Component down 0.11%, and the ChiNext down 0.20% [10] - The total trading volume across the market was 19,304.69 billion, a decrease of 500.72 billion from the previous day [10] - Over 2,500 stocks rose, with 100 stocks hitting the daily limit up [10] Group 2: Sector Highlights - The hydrogen energy sector saw significant activity, with a project announced by China Coal Asset Management Group to produce 500,000 tons of green ammonia annually [3] - The lithium battery sector remained active, with stocks like Fujian shares and others experiencing multiple limit-up days, driven by expectations of rising lithium carbonate prices [10] - The AI sector gained momentum due to news about Alibaba's "Qianwen" app and Huawei's upcoming AI technology release, leading to strong performances from stocks like Xuanyuan International [11] Group 3: Investment Insights - Morgan Stanley's report indicated that the Chinese stock market may enter a phase of consolidation in 2024, with target levels set for major indices [5] - The article notes that the AI application sector has been a significant driver of stock performance, with several stocks achieving substantial gains [4][11] - The article also highlights the potential for significant returns in the AI and hydrogen sectors, suggesting that investors could achieve substantial profits by aligning with leading stocks in these areas [3][4]

| 证券代码：688590 | 证券简称：新致软件 | 公告编号：2025-065 | | --- | --- | --- | | 转债代码：118021 | 转债简称：新致转债 | | 上海新致软件股份有限公司 关于召开 2025 年第三季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： 会议召开时间：2025 年 11 月 25 日（星期二）上午 11:00-12:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 二、说明会召开的时间、地点 投资者可于 2025 年 11 月 18 日（星期二）至 11 月 24 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"栏目或通过公司邮箱 investor@newtouch.com 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。 上海新致软件股份有限公司（以下简称"公 ...

南方财经11月13日电，港股固态电池板块持续拉升，龙蟠科技涨超10%，瑞浦兰钧、赣锋锂业、天齐锂 业涨超6%，中创新航涨超4%。 ...

Group 1 - The internet insurance sector experienced a decline of 1.43%, ranking among the top losers in concept sectors, with notable declines from Tianli Technology, Xinhua Insurance, and Jiayun Technology [1] - The main funds in the internet insurance sector saw a net outflow of 1.301 billion yuan, with 10 stocks experiencing net outflows, and 7 stocks seeing outflows exceeding 10 million yuan [2] - The stock with the highest net outflow was Dongfang Caifu, which had a net outflow of 1.230 billion yuan, followed by Weining Health, Jinzhen Shares, and China Ping An [2] Group 2 - Among the stocks in the internet insurance sector, the top gainers included Aishida, Tongfang Shares, and Qitian Technology, with increases of 1.04%, 0.80%, and 0.27% respectively [1][3] - The stocks with the highest net outflows included Dongfang Caifu (-1.85%), Weining Health (-1.81%), and Jinzhen Shares (-1.97%) [2][3] - The net inflow leaders in the sector were Tongfang Shares, Xinhua Insurance, and Xinzhisoft, with net inflows of 69.77 million yuan, 10.51 million yuan, and 5.81 million yuan respectively [2][3]

Core Viewpoint - New Zhi Software, a leader in insurance IT solutions in China, has shown mixed financial performance with a notable increase in shareholder numbers and a focus on AI applications for future growth [1][5]. Group 1: Company Overview - New Zhi Software was established on June 4, 1994, and listed on the Shanghai Stock Exchange on December 7, 2020, with its headquarters in Shanghai [1]. - The company provides IT solutions and services to financial institutions such as insurance companies and banks, as well as software project subcontracting services [1]. - It operates in the computer software development sector, specifically in vertical application software, and is involved in concepts like AI Agent, digital currency, and nuclear power [1]. Group 2: Financial Performance - For Q3 2025, New Zhi Software reported revenue of 1.439 billion yuan, ranking 20th in its industry, with an industry average of 1.712 billion yuan [2]. - The net profit for the same period was 22.547 million yuan, placing the company 36th in its industry, with an industry average of 26.431 million yuan [2]. - The company's asset-liability ratio was 53.13%, higher than the industry average of 31.94%, indicating a higher debt level compared to peers [3]. - The gross profit margin was 26.67%, which, while an improvement from the previous year, remains below the industry average of 41.71% [3]. Group 3: Executive Compensation - The chairman, Guo Wei, received a salary of 1.2573 million yuan in 2024, an increase of 113,900 yuan from 2023 [4]. - The general manager, Zhang Xiaofeng, earned 984,400 yuan in 2024, up by 126,700 yuan from the previous year [4]. Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 1.81% to 12,800, while the average number of shares held per shareholder decreased by 1.78% to 20,500 [5]. - New shareholders include Hua Bao Zhong Zheng Financial Technology Theme ETF and Hong Kong Central Clearing Limited, while Yi Fang Da Supply-side Reform Mixed Fund exited the top ten shareholders list [5]. Group 5: Future Outlook - Analysts predict a rebound in revenue growth due to the increasing adoption of AI applications across various sectors, including finance and automotive [5]. - The company is expected to see improvements in net profit margins as all business lines enhance their gross profit margins [5]. - Forecasts for net profit from 2025 to 2027 are 85 million, 122 million, and 161 million yuan, respectively, with a target price of 25.85 yuan [5].

Core Viewpoint - New Zhi Software's stock increased by 6.04% to 21.95 CNY per share, with a trading volume of 161 million CNY and a market capitalization of 5.771 billion CNY as of October 31 [1] Company Overview - Shanghai New Zhi Software Co., Ltd. was established on June 4, 1994, and went public on December 7, 2020 [1] - The company provides IT solutions and IT operation services to financial institutions such as insurance companies and banks, as well as other industry end customers [1] - Revenue composition includes: IT solutions (84.23%), innovative business (6.73%), IT product sales and value-added services (5.37%), software development subcontracting (3.57%), and other (0.10%) [1] Fund Holdings - According to data, one fund under Bosera Fund holds a significant position in New Zhi Software [2] - Bosera New Strategy Mixed A (001522) reduced its holdings by 7,802 shares in the third quarter, maintaining 63,400 shares, which accounts for 2.59% of the fund's net value, ranking as the third-largest holding [2] - The fund has achieved an 8% return year-to-date, ranking 6,251 out of 8,154 in its category, and an 11.58% return over the past year, ranking 5,566 out of 8,046 [2] Fund Manager Performance - The fund manager Li Zhongyang has been in position for 2 years and 268 days, with a total asset scale of 1.106 billion CNY and a best return of 17.72% during his tenure [2] - The other fund manager, Luo Xiao, has been in position for 3 years and 33 days, managing assets totaling 18.779 billion CNY, with a best return of 30.54% during his tenure [2]

Group 1 - The company reported a total revenue of 1.439 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 3.97% [1] - The net profit attributable to shareholders of the parent company was 31.0219 million yuan, showing a year-on-year decrease of 3.04% [1] - The basic earnings per share were 0.12 yuan [1] Group 2 - The company plans to distribute a cash dividend of 0.35 yuan (including tax) for every 10 shares to all shareholders [1]

Core Viewpoint - The company has announced a delay in the expected operational status date for its "Distributed PaaS Platform Project" from October 2025 to April 2026 due to the postponement of the convertible bond fundraising project [2] Group 1 - The company held the 27th meeting of the fourth board of directors and the 19th meeting of the fourth supervisory board on October 29, 2025 [2] - The resolution to postpone the operational status date of the fundraising project was approved during these meetings [2] - The project involves raising funds through the issuance of convertible bonds to invest in the "Distributed PaaS Platform Project" [2]