行业主要上市公司：怡亚通(002183.SZ)、联易融(09959.HK)、浙江东方(600120.SH)、飞马国际 (002210.SZ)、中信证券(600030.SH)、生意宝(002095.SZ)、中科金财(002657.SZ)等 供应链金融产品类型多样 转自：前瞻产业研究院 中国供应链金融核心产品包括应收账款融资盘活企业债权，预付账款融资支持采购周转，存货仓单质押 实现动产变现，保理业务涵盖正向与反向模式转移信用风险，订单融资基于合同预付款缓解资金压力， 动态池融资优化多笔账款管理，资产证券化转化供应链资产为流动性工具，本质围绕企业流动资产提供 多元化融资解决方案。 保理类产品包括有权追索和租赁保理 如今，供应链金融对市场经济的发展起到促进作用，其实质是帮助企业盘活流动资产，即应收、预付和 存货。因此通常将产品分为四类：应收类、预付类、存货类以及其他。是指资金方(银行或商业保理公 司等)与融资方签署保理合同，融资方将其在国内采用赊销方式完成商品销售或提供服务所形成的应收 账款转让给资金方，并由资金方为其提供融资、应收账款管理，账款催收和坏账担保等综合性金融服 务。保理产品种类繁多，现选择以下两种保理业 ...

A股在线教育板块持续冲高，湖北广电、汉王科技、直真科技三股涨停，竞业达、多伦科技、中科金财 跟涨。 ...

A股数字货币板块震荡走强，东信和平涨停，中科金财涨超5%，小商品城、新晨科技、太极股份跟 涨。 ...

7月22日，中科金财连续4个交易日下跌，区间累计跌幅-9.81%。北京中科金财科技股份有限公司成立于 2003年12月,是一家以金融科技解决方案、数据中心解决方案为基础,专注于AGI、WEB3.0、数字人民 币、数据要素核心技术研发,致力于推动产业数字化转型,国内领先的数字经济科技赋能平台。 财报显示，华商基金旗下华商优势行业混合进入中科金财前十大股东，且为今年二季度新进。今年以来 收益率26.47%，同类排名168(总2294)。 华商优势行业混合基金经理为张明昕。 简历显示，张明昕先生:中国国籍,北京航空航天大学计算机学士、伯明翰大学金融学硕士、特许金融分 析师(CFA)。2009年7月至2011年8月,就职于南京证券股份有限公司,任研究员;2011年8月至2016年6月,就 职于申万宏源证券股份有限公司,历任研究员、投资主办;2016年6月至2017年6月,就职于华安财保资产管 理公司,任投资经理;2017年7月至2018年6月,就职于盛盈资本管理有限公司,任投资经理;2019年2月至2020 年12月,就职于高正(天津)投资管理有限公司,任基金经理;2020年12月至2025年1月,就职于英大保险资产 ...

截至7月21日收盘，智谱AI概念下跌0.49%，位居概念板块跌幅榜前列，板块内，宇信科技、正元智 慧、因赛集团等跌幅居前，股价上涨的有20只，涨幅居前的有盛通股份、优刻得、凌云光等，分别上涨 6.35%、5.24%、4.10%。 | 600640 | 国脉文化 | 0.24 | 0.66 | -668.31 | | --- | --- | --- | --- | --- | | 603956 | 威派格 | -0.42 | 3.06 | -639.23 | | 002908 | 德生科技 | 0.36 | 7.85 | -633.41 | | 300571 | 平治信息 | -0.68 | 3.28 | -589.81 | | 688244 | 永信至诚 | -0.91 | 2.94 | -447.95 | | 605069 | 正和生态 | 0.27 | 11.30 | -266.68 | | 688365 | 光云科技 | -2.59 | 3.18 | -8.11 | | 003032 | *ST传智 | -0.89 | 1.64 | 81.83 | | 002712 | 思美传媒 | 0.69 | 2. ...

全球虚拟资产牌照知多少 华西计算机团队 2025年7月19日 分析师：刘泽晶 SAC NO：S1120520020002 邮箱：liuzj1@hx168.com.cn 请仔细阅读在本报告尾部的重要法律声明 核心观点 全球虚拟资产牌照体系已基本成型 证券研究报告|行业深度研究报告 全球虚拟资产牌照监管已构建起系统化的区域规则体系 中国香港：明确 VASP 牌照与稳定币发行牌照，严格规范储备金管理与第三方审计机制 新加坡：分级牌照制度及监管沙盒机制，在合规框架内实现创新与风险的动态平衡 欧洲： MiCA 框架以统一分类标准对加密资产服务提供商（CASP）实施规范，明确资本门槛与持续性合规义务 美国：联邦与州级多层监管网络，将 MSB 与 BitLicense 确立为核心合规基础 跨地区虚拟资产牌照的差异与协同 不同地区虚拟资产牌照的差异本质上反映的是区域监管逻辑与战略重心的分化 三大协同趋势已逐步形成：本币锚定、资产托管与反洗钱合规 "持牌运营""透明披露""托管审计"为三项核心要求。能跨地区持牌、适配多种监管的合规平台与基础设施企业，将成为全球资金青 睐的配置重点。全球虚拟资产牌照体系的目标是确保市场合规、保护 ...

Investment Rating - The report maintains a "Positive" investment rating for the industry [7]. Core Insights - The computer sector saw a significant increase of 3.02% last week, ranking 7th among major industries, with a trading volume accounting for 10.43% of the total market [2][4]. - The report highlights the growing interest in stablecoins and related technologies, particularly in the context of recent regulatory developments in Hong Kong [6][26]. - The launch of xAI's Grok-4, which includes advanced AI capabilities, is expected to drive further innovation in the sector [19][20]. Summary by Sections Market Performance - The overall market continued its upward trend, with the Shanghai Composite Index surpassing the 3500-point mark, closing at 3510.18 points, reflecting a 1.09% increase [12]. - The computer sector's performance was notably strong, with a 3.02% rise, contributing significantly to the overall market dynamics [12]. Key Developments - The report emphasizes the importance of cryptography in the blockchain ecosystem, particularly as stablecoins gain traction [6][32]. - The implementation of the stablecoin regulations in Hong Kong is anticipated to accelerate the development of the stablecoin market, with major companies like JD.com and Ant Group actively participating [6][26]. Recommendations - The report suggests focusing on companies with strong cryptographic technology reserves and relevant qualifications, especially those linked to the financial industry [6][42]. - It also highlights the potential for investment opportunities in firms that possess the necessary licenses and technological capabilities in blockchain and cryptography [30][42].

关于公司高级管理人员辞职的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 证券代码：002657 证券简称：中科金财 公告编号：2025-032 北京中科金财科技股份有限公司 北京中科金财科技股份有限公司（以下简称"公司"）董事会于 2025 年 7 月 15 日收到公司副总经理路一名的书面辞职报告，路一名因个人原因，申请 辞去公司副总经理职务。根据《公司法》、《公司章程》等有关规定，路一名的 辞职报告自送达公司董事会之日起生效，路一名原定任期至公司第六届董事会 任期届满之日止。路一名辞职后，不再在公司及子公司担任任何职务。路一名 的辞职不会影响公司的正常生产经营。 截至目前，路一名不持有公司股票。不存在应当履行而未履行或仍在履行 中的个人承诺事项。 2025 年 7 月 16 日 在此，公司及董事会谨向路一名在任职期间为公司所作出的贡献表示衷心 感谢。 特此公告。 北京中科金财科技股份有限公司董事会 ...

Core Viewpoint - On July 14, the Shanghai Composite Index rose by 0.27%, with institutional investors appearing on the trading lists of 35 stocks, net buying 19 and net selling 16 [1] Institutional Trading Summary - Institutional special seats net bought the most in Xiangyang Bearing, which closed at the daily limit with a turnover rate of 27.67% and a transaction amount of 2.076 billion yuan, net buying 110.74 million yuan [2] - San Chuan Wisdom closed up 15.27% with a turnover rate of 32.50%, net buying 75.27 million yuan, but had a net outflow of 35.2 million yuan [2] - Zhongke Magnetic Industry closed down 5.10% with a turnover rate of 45.77%, net buying 53.99 million yuan, but had a net outflow of 49.77 million yuan [2] Market Performance - The average increase of stocks with institutional net purchases was 2.36%, outperforming the Shanghai Composite Index [3] - Stocks like Changrong Co. and Xinling Electric showed strong performance, closing at the daily limit [3] - Historical data indicates a 52.06% probability of stocks with institutional net purchases rising the next day, and a 39.70% probability of rising in the following three days [3] Earnings Forecasts - Among the stocks with institutional net purchases, four have released half-year earnings forecasts, with Yuhua Development expected to have a net profit of 200 million yuan, a year-on-year increase of 708% [3] Net Selling Summary - The stock with the highest net selling by institutions was Siyuan Electric, with a net selling amount of 162.84 million yuan, while also seeing a net inflow of 98.77 million yuan [3] - Dazhihui was noted for a net selling of 120.24 million yuan, with a significant net outflow of 433 million yuan [4] Deep and Shanghai Stock Connect - On July 14, 15 stocks on the trading list had appearances from the Deep and Shanghai Stock Connect, with Siyuan Electric and Zhongke Jincai seeing net purchases of 139 million yuan and 113 million yuan respectively [7][8] - Stocks like Hengbao Co. and Greenland Holdings experienced significant net selling amounts of 193 million yuan and 79.38 million yuan respectively [8]

Core Insights - The A-share financing balance has increased for five consecutive trading days, reaching 18,757.94 billion yuan, with a financing balance of 18,625.86 billion yuan [1][2] - The sectors attracting the most financing include non-bank financials, non-ferrous metals, computers, electrical equipment, and pharmaceuticals, with significant net purchases during the period [1][2] Financing Trends - As of July 11, the A-share market's financing balance was reported at 18,625.86 billion yuan, with a margin balance of 132.08 billion yuan [2] - The financing balance increased by 63.59 billion yuan, 54.88 billion yuan, 38.43 billion yuan, 47.68 billion yuan, and 20.82 billion yuan over the five days from July 7 to July 11 [2] - Among the 31 sectors, 22 experienced an increase in financing balance, with the non-bank financial sector seeing the largest increase of 35.35 billion yuan [2] Sector Performance - The non-bank financial sector and non-ferrous metals sector are highlighted for their strong performance, with the latter benefiting from rising prices and improved earnings forecasts [4] - North Rare Earth's profit forecast indicates a year-on-year increase of 1,883% to 2,015 million yuan, reflecting the sector's positive outlook [4] Individual Stock Activity - During the financing balance increase, 84 stocks saw net purchases exceeding 100 million yuan, with the top ten stocks including BYD, Zijin Mining, and Northern Rare Earth, among others [6] Market Participation - As of June 30, 2025, the number of individual investors in margin trading reached 7,479,900, an increase of 252,100 from the end of 2024 [9] - Securities firms are actively expanding their margin trading business while ensuring risk management, with strategies focusing on enhancing customer experience and developing innovative products [9]