| 证券代码：688590 | 证券简称：新致软件 | 公告编号：2025-067 | | --- | --- | --- | | 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年第二次临时股东大会的通知 重要内容提示： 一、 召开会议的基本情况 （一） 股东大会类型和届次 2025年第二次临时股东大会 召开日期时间：2025 年 12 月 16 日 14 点 30 分 召开地点：上海市浦东新区康杉路 308 号（陆家嘴智慧谷 T6 栋）五楼会议 中心 （五） 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 12 月 16 日 至2025 年 12 月 16 日 本公司董事会及全体董事保证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。 （二） 股东大会召集人：董事会 （三） 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 （四） 现场会议召开的日期、时间和地点 采用上海证券交易所网络投票系统，通过交易 ...

Core Insights - The digital RMB sector experienced a decline of 0.38% on November 26, with New Zhi Software leading the drop [1] - The Shanghai Composite Index closed at 3864.18, down 0.15%, while the Shenzhen Component Index closed at 12907.83, up 1.02% [1] Digital RMB Sector Performance - Key stocks in the digital RMB sector showed mixed performance, with notable gainers including: - Xinyuan Co., Ltd. (688521) up 5.29% to 153.00 with a trading volume of 190,300 shares and a turnover of 2.921 billion [1] - ST Zhongzhuang (002822) up 4.98% to 4.43 with a trading volume of 242,600 shares and a turnover of 10.7 million [1] - Qitian Technology (300061) up 3.77% to 11.57 with a trading volume of 282,300 shares and a turnover of 324 million [1] - Conversely, New Zhi Software (688590) led the decline, down 3.98% to 19.06 with a trading volume of 70,300 shares and a turnover of 137 million [2] Capital Flow Analysis - The digital RMB sector saw a net outflow of 1.38 billion from institutional investors, while retail investors contributed a net inflow of 1.28 billion [2] - The capital flow for key stocks indicated varying trends, with: - Xinyuan Co., Ltd. experiencing a net inflow of 24.6 million from institutional investors [3] - Qitian Technology showing a net inflow of 12.86 million from institutional investors [3] - New Zhi Software facing a net outflow of 16.1 million from institutional investors [3]

Core Viewpoint - New Zhisoft's stock price has shown volatility, with a year-to-date increase of 16.97% but a recent decline over various trading periods, indicating potential market fluctuations and investor sentiment [1][2]. Company Overview - New Zhisoft, established on June 4, 1994, and listed on December 7, 2020, is located in Shanghai and provides IT solutions and services primarily to financial institutions and other industries [2]. - The company's 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%) [2]. - New Zhisoft operates within the software development sector, focusing on vertical application software, and is associated with concepts such as cross-border payments, domestic software, RPA, digital currency, and integrated machine concepts [2]. Financial Performance - For the period from January to September 2025, New Zhisoft reported a revenue of 1.439 billion yuan, reflecting a year-on-year growth of 3.97%, while the net profit attributable to shareholders was 31.02 million yuan, a decrease of 3.04% year-on-year [2]. - The company has distributed a total of 98.88 million yuan in dividends since its A-share listing, with 29.71 million yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, New Zhisoft had 12,800 shareholders, an increase of 1.81% from the previous period, with an average of 20,527 circulating shares per shareholder, a decrease of 1.78% [2]. - Notable shareholders include Huabao Zhongzheng Financial Technology Theme ETF and Hong Kong Central Clearing Limited, both of which are new entrants among the top ten circulating shareholders [3].

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 ...

Group 1 - The solid-state battery sector in Hong Kong stocks is experiencing a significant rally, with Longpan Technology rising over 10% [1] - Ruipu Lanjun, Ganfeng Lithium, and Tianqi Lithium have all seen increases of over 6% [1] - Zhongchuang Xinhang has also reported a rise of over 4% [1]

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]