Core Viewpoint - Hengbao Co., Ltd. (002104.SZ) experienced a significant increase in stock price, rising by 6.44% with a turnover rate of 28.34% and a transaction volume of 4.484 billion yuan [1] Trading Activity Summary - The net buying from the Shenzhen Stock Connect amounted to 210 million yuan, with purchases totaling 303 million yuan and sales of 93.2 million yuan [1] - The "Chengdu faction" of retail investors ranked fourth in net buying, contributing 40.84 million yuan [1] - Overall, the top trading seats recorded a total net buying of 246 million yuan, with total purchases of 539 million yuan and sales of 293 million yuan [1] Top Buying and Selling Seats - The top five buying seats included: - "Yijian Tong" with a buying amount of 303.43 million yuan, accounting for 6.77% of total transactions [1] - "Guosen Securities Zhejiang Internet Branch" with a buying amount of 43.97 million yuan, accounting for 0.98% [1] - The top five selling seats included: - "Yijian Tong" again leading with a selling amount of 93.2 million yuan, accounting for 2.08% of total transactions [1] - "Dongfang Caifu Securities Lhasa Tuanjie Road" with a selling amount of 34.21 million yuan, accounting for 0.76% [1]

Group 1 - Hengbao Co., Ltd. experienced a stock price increase of 6.44% with a turnover rate of 28.34% and a trading volume of 4.484 billion yuan on the day [2] - Institutional investors net bought 26,800 yuan, while the Shenzhen Stock Connect saw a net purchase of 210 million yuan [2] - The stock has been on the龙虎榜 (Dragon and Tiger List) 48 times in the past six months, with an average price increase of 1.72% the day after being listed and an average increase of 8.84% over the following five days [2] Group 2 - As of September 16, the margin trading balance for Hengbao Co., Ltd. was 898 million yuan, with a financing balance of 898 million yuan and a securities lending balance of 250 yuan [3] - In the last five days, the financing balance increased by 78.4 million yuan, representing a growth of 9.56% [3] - The top buying and selling members on September 17 included the Shenzhen Stock Connect, which had a buying amount of 303.43 million yuan and a selling amount of 93.20 million yuan [3][4]

Market Overview - On September 17, the communication equipment sector rose by 0.71% compared to the previous trading day, with Youfang Technology leading the gains [1] - The Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] Top Gainers in Communication Equipment Sector - Youfang Technology (688159) closed at 82.59, up 12.95%, with a trading volume of 110,200 shares and a transaction value of 873 million [1] - Dekeli (688205) closed at 117.00, up 10.80%, with a trading volume of 187,300 shares and a transaction value of 2.181 billion [1] - Sega Technology (002796) closed at 20.79, up 10.00%, with a trading volume of 324,600 shares and a transaction value of 667 million [1] - Other notable gainers include Yilian Network (300628), Guangku Technology (300620), and Hengbao Co., Ltd. (002104) with respective increases of 8.52%, 6.63%, and 6.44% [1] Market Capital Flow - The communication equipment sector experienced a net outflow of 268 million from institutional investors and 498 million from speculative funds, while retail investors saw a net inflow of 767 million [2] - The overall trend indicates a shift in investment dynamics, with retail investors increasing their presence in the sector [2] Individual Stock Capital Flow - Tianfu Communication (300394) had a net inflow of 365 million from institutional investors, while it faced a net outflow of 164 million from speculative funds [3] - Changxin Bochuang (300548) saw a net inflow of 284 million from institutional investors, with a significant outflow from speculative funds [3] - Other stocks like Shijia Photon (688313) and Hengbao Co., Ltd. (002104) also showed varying degrees of net inflow and outflow from different investor categories [3]

Core Viewpoint - Hengbao Co., Ltd. has shown a significant stock price increase of 5.08% on September 17, reaching a price of 26.28 CNY per share, with a trading volume of 1.715 billion CNY and a turnover rate of 11.07%, resulting in a total market capitalization of 18.615 billion CNY [1] Company Overview - Hengbao Co., Ltd. is located in the Hongtang Industrial Zone of Danyang City, Jiangsu Province, and was established on September 24, 1996. The company was listed on January 10, 2007. Its main business involves the research, development, production, and sales of card products such as magnetic stripe cards and password cards, as well as related operating systems (COS) and ticket products [1] - The revenue composition of Hengbao Co., Ltd. is as follows: card products account for 78.19%, module products for 21.27%, ticket products for 0.31%, and other supplementary products for 0.24% [1] Fund Holdings - From the perspective of major fund holdings, one fund under Ping An Asset Management has a significant position in Hengbao Co., Ltd. The Ping An CSI 2000 Enhanced Strategy ETF (159556) held 5,700 shares in the second quarter, representing 0.4% of the fund's net asset value, making it the second-largest holding [2] - The Ping An CSI 2000 Enhanced Strategy ETF (159556) was established on December 27, 2023, with a latest scale of 28.7267 million CNY. Year-to-date, it has achieved a return of 29.16%, ranking 1,638 out of 4,222 in its category; over the past year, it has returned 73.3%, ranking 1,204 out of 3,804; and since inception, it has returned 19.32% [2] - The fund managers of the Ping An CSI 2000 Enhanced Strategy ETF are Yu Yao and Li Yan. Yu Yao has a tenure of 3 years and 319 days, managing assets totaling 131 million CNY, with the best fund return during this period being 17.72% and the worst being -20.06%. Li Yan has a tenure of 1 year and 268 days, managing assets of 12.611 billion CNY, with the best return of 66.31% and the worst of 14.52% during his tenure [2]

Core Viewpoint - The financial technology sector is experiencing significant activity and capital inflow, driven by a favorable trading environment and the integration of AI technologies in financial services [1][3][4]. Group 1: Market Activity - Financial technology stocks such as Hengbao Co., Newland, Tonghuashun, and Yingshisheng have seen gains exceeding 2% [1]. - The financial technology ETF (159851) reached a peak increase of nearly 1% during trading, with a transaction volume surpassing 2 billion CNY and net subscriptions exceeding 1.4 million shares [1][4]. - The trading volume in the two markets has exceeded 1.5 trillion CNY for 44 consecutive trading days, indicating a robust trading environment [3]. Group 2: Factors Driving Growth - Three main factors are contributing to the recent activity in the financial technology sector: 1. The continuous increase in trading volume and the recovery of internet brokerage fundamentals, with expectations of a 70% increase in net profits for the third quarter [3]. 2. The integration of AI in financial services, enhancing product value and customer loyalty, with leading firms expected to maintain a competitive edge [3]. 3. Increased market risk appetite due to expectations of overseas interest rate cuts, benefiting small-cap stocks sensitive to financing costs [3]. Group 3: Investment Opportunities - The financial technology ETF (159851) and its associated funds are recommended for investment, as they cover a wide range of themes including internet brokerages, financial IT, cross-border payments, and AI applications [4]. - As of September 15, the financial technology ETF (159851) has a scale exceeding 10 billion CNY, with an average daily trading volume of over 1.4 billion CNY in the past month, indicating strong liquidity [4].

证券代码：002104 证券简称：恒宝股份 公告编号：2025-043 恒宝股份有限公司 2025 年第一次临时股东大会决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记 载、误导性陈述或者重大遗漏。 重要提示： 1、本次股东大会未出现否决议案的情形； 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 恒宝股份有限公司（以下简称"公司"或"本公司"）2025 年第一次临时 股东大会，以现场投票及网络投票相结合的方式召开。 （一）召开时间： 1、现场会议时间：2025 年 9 月 16 日（星期二）下午 14:30-16:00。 2、网络投票时间：2025年9月16日，其中，通过深圳证券交易所交易系统进 行网络投票的具体时间为2025年9月16日上午9:15-9:25，9:30-11:30，下午 13:00-15:00；通过互联网投票系统投票的具体时间为：2025年9月16日上午9:15 至下午15:00期间的任意时间。 （二）现场会议召开地点：江苏省丹阳市横塘工业区公司三楼会议室。 本次股东大会由公司董事会召集，由公司过半数的董事共同推举的董事陈妹 妹女士 ...

上海市锦天城律师事务所 关于恒宝股份有限公司 2025 年第一次临时股东大会的 法律意见书 锦 天 城 律 师事 务 所 ALLBRIGHT LAW OFFICES 地址:上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 传真: 021-20511999 电话:021-20511000 === 邮编: 200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于恒宝股份有限公司 2025 年第一次临时股东大会的 法律意见书 致:恒宝股份有限公司 上海市锦天城律师事务所(以下简称"本所")接受恒宗股份有限公司(以 下简称"公司")委托,就公司召开 2025年第一次临时股东大会(以下简称"本 次股东大会")的有关事宜,根据《中华人民共和国公司法》(以下简称"《公 司法》")、《中华人民共和国证券法》(以下简称"《证券法》")和《上市 公司股东会规则》(以下简称"《股东会规则》")、《深圳证券交易所上市公 司自律监管指引第 1 号 --- 主板上市公司规范运作(2025年修订)》等法律、 法规、规章和其他规范性文件以及《恒宝股份有限公司章程》(以下简称"《公 司章程》"）的有关规 ...

Core Viewpoint - The launch of the iPhone Air, featuring eSIM technology, is expected to stimulate demand for new mobile devices and potentially trigger a wave of upgrades in the smartphone market [4][6]. Group 1: eSIM Technology Overview - eSIM, or embedded SIM, is a new generation SIM card standard that allows for remote configuration and management of mobile networks without the need for a physical SIM card slot [4]. - The introduction of eSIM in the iPhone Air is seen as a significant move that could lead to increased adoption of eSIM technology across the industry [4][5]. Group 2: Market Impact and Industry Response - The iPhone Air's adoption of eSIM technology is anticipated to drive domestic smartphone manufacturers to follow suit, potentially leading to a new wave of smartphone upgrades [4]. - Industry experts express caution, noting that the complexity of eSIM activation compared to traditional SIM cards may affect user acceptance [4][5]. Group 3: Current State of eSIM in China - Currently, China Unicom is the only supported operator for iPhone eSIM in mainland China, while China Mobile and China Telecom are preparing to launch their eSIM services [2][3]. - The domestic eSIM ecosystem has developed a complete supply chain, covering chips, modules, platforms, and operators, and is applicable in various sectors including consumer electronics and IoT [4][5]. Group 4: Company Developments in eSIM - Unisoc Microelectronics is a leading player in the domestic eSIM market, with solutions already in commercial use across multiple countries and supporting over 400 operators [6]. - Hengbao Co., Ltd. has reported that its eSIM technology covers consumer electronics and IoT devices, aligning with global eSIM standards [6]. - Chutianlong Co., Ltd. is enhancing its eSIM product line and service capabilities to expand its domestic and international business [7].

证券代码：002104 证券简称：恒宝股份 公告编号：2025-042 恒宝股份有限公司 关于全资子公司变更经营范围并完成工商备案登记的公 告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记 载、误导性陈述或者重大遗漏。 恒宝股份有限公司（以下简称"公司"）于近日收到全资子公司江苏镇江云宝科技 产业发展有限公司的通知，因业务发展及经营需要，江苏镇江云宝科技产业发展有限公 司于近日进行了经营范围的变更，相关工商变更登记手续已完成，并取得了由丹阳市政 务服务管理办公室换发的《营业执照》，具体变更信息如下： | | 变更前 | 变更后 | | --- | --- | --- | | | 一般项目：技术服务、技术开发、技 | 一般项目：技术服务、技术开发、技 | | | 术咨询、技术交流、技术转让、技术 | 术咨询、技术交流、技术转让、技术 | | | 推广；创业空间服务；信息技术咨询 | 推广；创业空间服务；信息技术咨询 | | | 服务；信息咨询服务（不含许可类信 | 服务；信息咨询服务（不含许可类信 | | 经 营 | 息咨询服务）（除依法须经批准的项 | 息咨询服务）；信息安全设备制造； ...

Core Insights - On September 2, 2023, a total of 44 stocks appeared on the Dragon and Tiger list, with 17 stocks having the presence of Shenzhen Stock Connect dedicated seats among the top five trading departments [1][2] - Notable net purchases were made in Jianghai Co., Ltd., Siling Co., Ltd., and Zhongyou Capital, with net buying amounts of 233.93 million yuan, 87.59 million yuan, and 72.32 million yuan respectively [1][2] - Significant net sales were observed in Hengbao Co., Ltd., Liou Co., Ltd., and Xuanji Information, with net selling amounts of 276.86 million yuan, 148.74 million yuan, and 132.32 million yuan respectively [1][2] Summary by Category Net Purchases - Jianghai Co., Ltd. (Code: 002484) had a net purchase of 233.93 million yuan, with a daily price change of -9.99% and a turnover rate of 15.85% [2] - Siling Co., Ltd. (Code: 301550) saw a net purchase of 87.59 million yuan, with a daily price increase of 11.32% and a turnover rate of 17.69% [2] - Zhongyou Capital (Code: 000617) recorded a net purchase of 72.32 million yuan, with a daily price change of -10.02% and a turnover rate of 3.45% [2] Net Sales - Hengbao Co., Ltd. (Code: 002104) experienced the highest net sale of 276.86 million yuan, with a daily price change of -9.99% and a turnover rate of 39.67% [2] - Liou Co., Ltd. (Code: 002131) had a net sale of 148.74 million yuan, with a daily price change of 1.04% and a turnover rate of 34.11% [2] - Xuanji Information (Code: 300324) recorded a net sale of 132.32 million yuan, with a daily price change of 1.55% and a turnover rate of 39.32% [2]