证券日报网讯新大陆（000997）11月18日在互动平台回答投资者提问时表示，截至2025年11月10日，公 司股东人数为70489户。 ...

2025年1至6月份，新大陆的营业收入构成为：服务业占比52.65%，工业占比47.23%，其他业务占比 0.12%。 截至发稿，新大陆市值为261亿元。 每经AI快讯，新大陆（SZ 000997，收盘价：25.81元）发布公告称，2025年11月5日10:00-11:00、2025 年11月12日10:00-11:00线上交流时间：2025年11月11日10:00-11:00，新大陆接受前海开源基金等投资者 调研，公司董事会秘书徐芳宁女士，投资者关系经理陈思远女士参与接待，并回答了投资者提出的问 题。 （记者 曾健辉） 每经头条（nbdtoutiao）——段睿：我与蔡磊是 "找钥匙的人"，纵使生前寻不到，也要为其他渐冻症患 者铺就近路 ...

Group 1: Payment Services Performance - In the first three quarters of 2025, the total transaction volume for payment services reached 1.62 trillion yuan, with the third quarter showing a growth of over 18% compared to the previous year [2][3] - The company has maintained a quarter-on-quarter growth trend in transaction volume since Q3 2024, primarily driven by the increase in QR code transactions, highlighting its strong service capabilities for offline merchants [2][3] Group 2: Market Position and Regulatory Environment - The implementation of new regulations, such as the "Non-Bank Payment Institutions Supervision Management Regulations," has accelerated market differentiation, leading to the exit of mid-tier institutions [3] - As of June 2025, the company has provided services to over 4.8 million active merchants, with a net increase of nearly 1 million active merchants since the end of 2024, contributing to rapid growth in QR code transaction volume [3] Group 3: AI and Technology Integration - The company has established a deep strategic partnership with Alibaba Cloud to explore the application of AI models in payment scenarios, leveraging both parties' strengths [4][5] - The AI marketing agent, integrated into the Xingyifu APP, has attracted over 150,000 active merchants within two months of its free trial launch, aiming to create a closed-loop business model for AI application monetization [5][6] Group 4: Cross-Border Payment Initiatives - The company is actively participating in the construction of a unified cross-border QR code gateway, which aims to simplify the cross-border payment process and enhance efficiency [7][8] - The company has successfully obtained MSB licenses and is working towards establishing a comprehensive infrastructure for cross-border payment and overseas acquiring services [8] Group 5: Smart Device Market Trends - In the first three quarters of 2025, overseas sales revenue for smart devices grew by over 26% year-on-year, with improving gross margins in Q3 [9] - The global market for payment terminal devices is projected to reach 1.2 billion units, with the company currently holding less than 1.2% market share, indicating significant growth potential in both developed and emerging markets [9]

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 company is accelerating its overseas licensing and account system layout, establishing subsidiaries in Hong Kong and the United States, and has successfully obtained the MSB license while applying for the MSO license [1] Group 1 - The company has set up a subsidiary named Hong Kong Star Express Payment Company in Hong Kong and NovaPay in the United States [1] - The company has successfully obtained the MSB (Money Services Business) license [1] - The company is currently in the process of applying for the MSO (Money Service Operator) license and will disclose further progress according to relevant requirements [1]

Core Insights - The automotive industry is entering an era of autonomous driving, which will significantly transform daily vehicle usage scenarios, including automated parking, charging, and maintenance services [2] - The automotive service ecosystem is emerging as the third major competitive force in the industry, with a projected market size exceeding 80 trillion yuan by 2028 [2] - The integration of digitalization and new automotive service models is essential as the industry transitions to autonomous driving [2] Parking Solutions - The parking problem is exacerbated by a significant shortfall of over 80 million parking spaces in China, with the number of vehicles far outpacing the availability of new parking spots [2][3] - Autonomous driving technology is expected to create new industry opportunities in smart parking, enhancing user experience by enabling vehicles to autonomously find and park in available spaces [4] - The concept of "automated valet parking" is being proposed, which would optimize parking space utilization and reduce operational costs for parking facilities [4] Charging Infrastructure - Despite having the largest charging infrastructure network globally, user experience in China remains suboptimal, with issues such as uneven distribution and high failure rates of public charging stations [5][6] - Autonomous driving technology can address charging challenges by allowing vehicles to autonomously navigate to charging stations, thus improving efficiency and user convenience [6] - The development of a "vehicle-charging network-cloud" ecosystem is essential for achieving seamless automated charging experiences [6] Automotive Aftermarket Transformation - The automotive aftermarket is poised for significant changes, with a shift towards intelligent, time-saving services that enhance user experience [7] - Automated services, such as car washing, can be facilitated through mobile apps, allowing vehicles to autonomously travel to service locations and return without user intervention [7] - The focus of the automotive industry is shifting from mechanical performance to data and service capabilities, leading to a comprehensive transformation in automotive services [7] Insurance Industry Evolution - The insurance sector will undergo a transformation based on data generated by autonomous driving systems, leading to new risk models that assess algorithm reliability rather than driver behavior [8] - Future automotive insurance will feature layered, customized, and dynamic pricing structures, reflecting the multi-faceted nature of risk in autonomous driving [8] - The responsibility for insurance will shift from solely the driver to include manufacturers and software/hardware suppliers, broadening the scope of coverage [8]

Group 1 - The core viewpoint is that the financial technology sector is experiencing significant growth, driven by banks' increasing investments in technology to enhance their competitive edge amid digital transformation challenges [1][2] - The China Securities Financial Technology Theme Index (930986) has risen by 1.52%, with notable increases in constituent stocks such as Xinghuan Technology (688031) up 11.31% and Geer Software (603232) up 10.00% [1] - Recent procurement signals from multiple banks indicate a strong demand for technology solutions, with some project bids exceeding 20 million yuan and service periods extending up to three years [1] Group 2 - Dongwu Securities highlights that the internet finance sector is focusing on short-term performance elasticity, while securities IT is paying attention to the demand for trusted computing [2] - The financial technology ETF index closely tracks the performance of the China Securities Financial Technology Theme Index, which reflects the overall performance of listed companies in the financial technology sector [2] - As of October 31, 2025, the top ten weighted stocks in the China Securities Financial Technology Theme Index account for 54.41% of the index, indicating a concentration in key players such as Tonghuashun (300033) and Dongfang Caifu (300059) [2]

Core Insights - The transition to autonomous driving will significantly transform daily vehicle usage, including features like automatic parking, self-charging, and maintenance visits [2] - The automotive service ecosystem is emerging as a third major competitive advantage in the industry, projected to reach over 80 trillion yuan by 2028 [2] - The integration of digitalization and new automotive service models is essential as the industry moves towards higher levels of automation [2] Parking Solutions - The report indicates a significant parking shortage in China, with over 80 million parking spaces needed by mid-2025, as the number of vehicles continues to outpace the availability of parking spots [2][3] - Autonomous driving technology is expected to enhance parking efficiency by enabling vehicles to autonomously find and park in available spaces, thus addressing the "parking difficulty" issue [4] - The concept of "smart parking" will become integral to autonomous driving, improving user experience and optimizing resource allocation through vehicle-to-vehicle and vehicle-to-infrastructure communication [4] Charging Infrastructure - Despite having the largest charging infrastructure network globally, user experience in China remains suboptimal, with issues like uneven distribution and high failure rates of public charging stations [5][6] - Autonomous driving can alleviate charging challenges by allowing vehicles to autonomously navigate to charging stations, thus enhancing convenience for users [6] - The ideal future charging experience involves a seamless "vehicle-charging station-network-cloud" ecosystem, enabling automatic charging processes and reducing user involvement [6] Automotive Aftermarket Services - The automotive aftermarket is poised for transformation, with users increasingly seeking intelligent services that save time and effort [7] - Autonomous driving enables "no-touch vehicle maintenance," allowing vehicles to autonomously travel to service locations for tasks like washing and maintenance without user intervention [7] - The automotive industry is shifting focus from mechanical performance to data and service capabilities, leading to a comprehensive automation of automotive services [7] Insurance Industry Evolution - The insurance sector will undergo a significant transformation, moving from assessing driver behavior to evaluating the reliability of machine algorithms based on data generated by autonomous driving systems [8] - Future insurance models will be multi-layered, customized, and dynamically priced, reflecting real-time driving and system performance data [8] - The responsibility for insurance will shift from solely the driver to include multiple stakeholders such as manufacturers and software/hardware suppliers [8]

Group 1 - The company provided a guarantee for its wholly-owned subsidiary, Guangzhou Wangshang Commercial Factoring Co., Ltd., with a total guarantee amount of up to RMB 6.00 billion, reduced from the previous RMB 13.00 billion [2][4] - The guarantee is related to the payment obligations under a debt transfer agreement with Xinwang Bank, reflecting a shift in the subsidiary's business model towards a lending model [2][3] - The subsidiary, established in January 2018, has a registered capital of RMB 50 million and is fully owned by the company [3][4] Group 2 - As of October 31, 2025, the actual guarantee balance of the company and its subsidiaries is RMB 745.57 million, accounting for 10.87% of the latest audited net assets attributable to the parent [6] - The total effective guarantee amount provided by the company and its subsidiaries is RMB 2.80 billion, representing 40.86% of the latest audited net assets attributable to the parent [6] - The company does not have overdue guarantees or guarantees involving litigation [6]

证券代码：000997 证券简称：新大陆 公告编号：2025-070 新大陆数字技术股份有限公司 关于为全资子公司提供担保的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 一、担保情况概述 公司于 2019 年 4 月 10 日为全资子公司广州网商商业保理有限责任公司（以 下简称"网商保理"）与四川新网银行股份有限公司（以下简称"新网银行"）签订 的《债权转让协议》项下的全部付款义务提供连带责任保证担保，担保额度为不 超过人民币 3.00 亿元（公告编号：2019-012）。2019 年 9 月 27 日、2020 年 4 月 9 日、2020 年 10 月 15 日，公司为网商保理与新网银行签订的补充协议项下的全 部付款义务提供连带责任保证担保，增加担保额度分别为不超过人民币 4.00 亿 元、8.00 亿元、5.00 亿元。（公告编号：2019-045、2020-012、2020-062） 广州网商商业保理有限责任公司，成立于 2018 年 1 月 31 日。网商保理为公 司全资子公司，公司持有其 100%股权。网商保理注册资本 5,000 万元 ...