股票研究 /[Table_Date] 2025.11.17 2025-11-18 行业拐点已至，金融是 AI 应用落地的绝 佳"试验田" "AI+金融"系列专题研究（一） 本报告导读： 金融行业数智化转型需求与大模型技术特性高度契合，是 AI 应用落地的绝佳"试验 田"；2025 年 DeepSeek R1 的发布成为金融机构本地化部署 AI 的行业拐点。 投资要点： 证 券 研 究 请务必阅读正文之后的免责条款部分 股 票 研 究 行 业 专 题 研 [table_Authors] [Table_Summary] 投资建议：我们认为，金融行业作为典型的数据、信息、决策密集 型产业，其数智化转型需求与大模型技术特性高度契合。2025 年 DeepSeek R1 的发布助推通用模型推理能力跃迁和成本锐减，并实 现模型开源，成为金融机构本地化部署 AI 的行业拐点。目前，AI 应 用已在各类金融机构的核心业务领域以及中后台场景中加速渗透， 未来 AI 有望重构金融业务流程和组织架构，为金融数智化打开新纪 元。建议关注：1）金融信息服务。相关标的：同花顺、九方智投控 股、指南针。2）第三方支付。重点关注：新大陆、新 ...

A股复盘 | 联想式炒股 / 2025.11.17 真是惊了！今天涨停的都是会起名的！ 孚日不说了，俘虏日军；中孚信息，中国俘虏日军； 还有日出东方、 大东方、 华升股份、 盛视科技、 中富通 下午氢能异动，我看了下，彭博社下午发了个文章， 说中国在十五五中加速发展氢能， 还举了一个例子， 中国煤炭资产管理集团有限公司 与乌兰察布市四子王旗人民政府签署风光制氢氨一体化项目合作协议，规划年产50万吨绿氨。这已是中煤在四子王旗布局的第二个大型绿氨 项目。 群里小伙伴提醒，每轮新能源行情都以氢能大涨为结束点！ 群里小伙伴问，今年怎么还没出一万变一亿的梳理？ 我正好问了问DS，从结果来看，只要搭上上纬新材的快车， 你都不必等到11月，哈哈哈，早早实现"一个小目标"！ 不过结果我没验证哈！ | 交易次数 | 擬作股票 | 买入日期 | 持有天数 | 关键依据与说明 | 收益率计算 资金变化 | | --- | --- | --- | --- | --- | --- | | 1 | 汉得信息 (300170) | 2025-01-20 | 2025-01-24 5天 | 基于1月24日AI应用概念涨停潮 3,假设预知其 ...

| 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]

Core Points - New Zhi Software announced the resignation of independent director Wang Gang, who has served since October 2019, completing a six-year term [2] - Wang Gang has also resigned from his positions in the board's nomination and strategy committees, and will no longer hold any position within the company after his resignation [2]