Core Viewpoint - The fiscal and tax digitalization concept has shown a significant increase of 3.64%, ranking 8th among concept sectors, with notable stocks like Zhongke Jincai and Shenzhou Information hitting the daily limit up [1][2]. Group 1: Market Performance - As of June 23, the fiscal and tax digitalization sector saw 63 stocks rise, with Tianyuan Dike, Changliang Technology, and Digital Certification leading with increases of 14.56%, 8.08%, and 7.68% respectively [1]. - The sector experienced a net inflow of 1.571 billion yuan, with 38 stocks receiving net inflows, and five stocks exceeding 50 million yuan in net inflow [2]. Group 2: Key Stocks - Tianyuan Dike had the highest net inflow of 613 million yuan, followed by China Software with 312 million yuan, Shenzhou Information with 189 million yuan, and Zhongke Jincai with 184 million yuan [2]. - The net inflow ratios for leading stocks were 42.68% for Shenzhou Information, 23.67% for Tianyuan Dike, and 16.86% for Zhongke Jincai [3].

（原标题：数据确权概念涨3.89%，主力资金净流入29股） 截至6月23日收盘，数据确权概念上涨3.89%，位居概念板块涨幅第7，板块内，59股上涨，优博讯20%涨停，中科金财、安妮股份、ST广网等涨 停，四方精创、拉卡拉、先进数通等涨幅居前，分别上涨19.97%、13.04%、12.87%。跌幅居前的有新华文轩、ST易联众等，分别下跌2.68%、 0.48%。 今日涨跌幅居前的概念板块 | 301169 零点有数 | 2.00 | 2.03 | -107.87 | -1.90 | | --- | --- | --- | --- | --- | | 301091 深城交 | 0.53 | 0.74 | -108.32 | -1.06 | | 300659 中孚信息 | 3.67 | 4.20 | -123.43 | -1.13 | | 688051 佳华科技 | 3.24 | 0.68 | -127.79 | -10.28 | | 601999 出版传媒 | 1.99 | 1.05 | -136.31 | -3.54 | | 002117 东港股份 | 2.42 | 4.91 | -155.28 | -0.5 ...

Group 1 - The core viewpoint of the articles highlights the strong performance of the technology sector, particularly in stablecoins, with significant interest from brokerage firms and a surge in related stocks [1] - The financial technology ETF Huaxia (516100) rose by 3.04%, with key holdings such as Zhongke Jincai and Shenzhou Information hitting the daily limit, indicating robust market activity in this sector [1][2] - Recent reports indicate that at least 16 brokerage firms published 24 research reports on stablecoins, and over 30 themed conference calls were held in the past two weeks, covering various aspects such as policy interpretation and investment strategies [1] Group 2 - Stablecoins are defined as cryptocurrencies pegged to stable assets like fiat currencies or commodities, enhancing payment efficiency and asset liquidity while promoting financial innovation [1] - Huaxi Securities notes that stablecoins possess characteristics such as asset anchoring, low volatility, and high settlement efficiency, positioning them as important tools for on-chain payments and cross-border settlements [1] - The current period is critical for the development of stablecoins, with accelerating regulatory trials and legislative processes pushing them from a gray area towards institutionalized growth, potentially leading to a diverse ecosystem of stablecoins [1]

Investment Rating - The report initiates coverage with an "Outperform" rating, setting a target price of 29.21 RMB based on the growth potential from AI-native agents and computing power services [1][17][42]. Core Insights - The company, established in 2003, is a seasoned fintech and data center service provider with a focus on AI technologies, serving financial institutions, government, utilities, and enterprises [43]. - The AI-native architecture is expected to unlock new enterprise AI markets, enhancing business models and improving ROI, with projected AI revenue of 208 million RMB in 2024 and signed orders of 293 million RMB [44]. - The company is leveraging its data center services to expand its computing power business, with anticipated revenue of 297 million RMB in 2024 and orders totaling 557 million RMB [45]. Financial Summary - The company forecasts revenue growth from 1,002 million RMB in 2023 to 1,684 million RMB in 2025, representing a year-on-year increase of 44.3% [2][10]. - Net profit is expected to improve from a loss of 108 million RMB in 2023 to a profit of 46 million RMB by 2027, with a significant year-on-year growth of 268.6% in 2026 [2][10]. - The earnings per share (EPS) are projected to transition from -0.32 RMB in 2023 to 0.14 RMB in 2027 [2][10]. Business Segmentation - The company operates in three main segments: fintech, artificial intelligence, and data center services. The fintech segment is expected to grow at a rate of 30% annually from 2025 to 2027, driven by strong customer retention and AI product integration [7][9]. - The artificial intelligence segment is projected to grow at 70% in 2025, 55% in 2026, and 35% in 2027, supported by a robust order pipeline [7][9]. - The data center segment is anticipated to grow at 60% in 2025, 40% in 2026, and 20% in 2027, benefiting from increased demand for computing power [7][9]. Margin and Profitability - The overall gross margin is expected to improve from 19.3% in 2024 to 22.0% by 2027, reflecting the scaling of AI products and decreasing marginal costs [8][10]. - The company aims to enhance its profitability metrics, with a projected return on equity (ROE) improving from -5.7% in 2023 to 2.4% in 2027 [2][10].

Group 1 - The recent favorable policies regarding stablecoins have ignited a surge in the global capital market, with significant stock price increases for related companies in A-shares, such as Sifang Jingchuang and Tianyang Technology, both reaching a 20% limit up [1] - Circle, known as the "first stablecoin stock," has seen its share price increase by over 300% since its listing, highlighting the growing investor interest in stablecoins [1] - The Hong Kong Legislative Council has passed the "Stablecoin Ordinance," set to take effect on August 1, which is expected to facilitate the licensing process for qualified applicants to conduct business in the stablecoin sector [1][2] Group 2 - The upcoming second policy declaration from the Hong Kong government will focus on the integration of financial services and innovation, aiming to enhance the application of digital assets and ensure their safety and flexibility in the real economy [2] - The U.S. Senate is poised to pass amendments to the "GENIUS Stablecoin Act," which mandates that stablecoins be fully backed by U.S. dollars or equivalent high-liquid assets, along with annual audits for issuers with a market cap exceeding $50 billion [2] - South Korea has proposed the "Basic Digital Asset Act," allowing companies with a capital of 5 billion KRW (approximately $367,876) or more to issue stablecoins, ensuring refunds through reserve funds [2] Group 3 - Major financial centers worldwide are establishing their digital currency systems to maintain greater monetary control in the digital finance era, with recent legislation clarifying the regulatory framework for digital assets [3] - The total market size of cryptocurrency stablecoins has surpassed $250 billion, with over $20 trillion in global stablecoin transaction volume recorded last year, indicating a growing demand for stablecoins [3] - Standard Chartered Bank predicts that the supply of stablecoins could reach $2 trillion by 2028, reflecting the robust growth of the digital asset market [3] Group 4 - The imminent passage of the U.S. stablecoin bill and Hong Kong's second digital asset policy declaration marks the entry of the global stablecoin market into a "compliance era," which is expected to provide long-term structural benefits for related concept stocks [4] - From an investment perspective, the core of the stablecoin transformation lies not in the price fluctuations of stablecoins themselves, but in identifying key players that can become critical nodes in new funding pathways, presenting historic valuation opportunities for infrastructure providers [4]

证券时报·数据宝统计，截至（6月16日）收盘，沪指报3388.73点，涨11.73点，涨幅为0.35%；深成指报 10163.55点，涨41.43点，涨幅为0.41%；创业板指报2057.32点，涨13.50点，涨幅为0.66%。个股方面， 今日112只A股换手率超过20%，其中，科力股份、北方长龙等6只个股换手率达五成以上，半数筹码易 主。（数据宝） 6月16日两市换手率居前个股一览 | 600367 | 红星发展 | 15.10 | 24.76 | 3.50 | | --- | --- | --- | --- | --- | | 300886 | 华业香料 | 37.43 | 24.62 | -0.40 | | 873527 | 夜光明 | 22.38 | 24.58 | -8.84 | | 002657 | 中科金财 | 25.37 | 24.56 | 10.02 | | 301313 | 凡拓数创 | 25.10 | 24.38 | 10.67 | | 600714 | 金瑞矿业 | 13.23 | 24.31 | 9.98 | | 300095 | 华伍股份 | 10.06 | 24.23 | 0. ...

Group 1 - The Zhipu AI concept index rose by 3.20%, ranking 8th among concept sectors, with 63 stocks increasing in value [1][2] - Notable performers within the Zhipu AI sector included Zhongke Jincai, which hit the daily limit, and other companies like Huaxin Yongdao, Zhengyuan Zhihui, and Qingyun Technology, which saw increases of 19.72%, 11.81%, and 11.50% respectively [1][2][6] Group 2 - The Zhipu AI sector experienced a net inflow of 711 million yuan from main funds, with 37 stocks receiving net inflows, and 9 stocks exceeding 30 million yuan in net inflow [2][3] - Zhongke Jincai led the net inflow with 260 million yuan, followed by Kela Software, Doushen Education, and Yuxin Technology with net inflows of 120 million yuan, 107 million yuan, and 86.6 million yuan respectively [2][3] Group 3 - In terms of net inflow ratios, Zhongke Jincai, Doushen Education, and Desheng Technology had the highest ratios at 12.82%, 12.28%, and 9.97% respectively [3][4] - The trading volume and turnover rates for leading stocks in the Zhipu AI sector were significant, with Zhongke Jincai showing a turnover rate of 24.56% and a price increase of 10.02% [3][4]

截至6月16日收盘，数据确权概念上涨3.24%，位居概念板块涨幅第7，板块内，58股上涨，四方精创 20%涨停，中科金财涨停，拉卡拉、金运激光、优博讯等涨幅居前，分别上涨15.34%、8.04%、 7.23%。跌幅居前的有广电计量、中原传媒等，分别下跌1.21%、0.23%。 今日涨跌幅居前的概念板块 | 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | 数字货币 | 4.72 | 毛发医疗 | -0.99 | | 蚂蚁金服概念 | 4.40 | 青蒿素 | -0.92 | | 电子身份证 | 4.07 | 金属锌 | -0.92 | | 跨境支付(CIPS) | 3.83 | 金属铅 | -0.71 | | Web3.0 | 3.64 | 兵装重组概念 | -0.63 | | 移动支付 | 3.29 | 黄金概念 | -0.59 | | 数据确权 | 3.24 | 共享单车 | -0.48 | | 智谱AI | 3.20 | 金属钴 | -0.41 | | 快手概念 | 3.07 | 培育钻石 | -0.38 | | 小红书概念 | 3. ...

截至6月16日收盘，移动支付概念上涨3.29%，位居概念板块涨幅第6，板块内，77股上涨，海联金汇、 东信和平、中科金财等涨停，拉卡拉、雄帝科技、正元智慧等涨幅居前，分别上涨15.34%、13.81%、 11.81%。跌幅居前的有金一文化、博实结、星宸科技等，分别下跌8.86%、3.55%、2.18%。 今日涨跌幅居前的概念板块 | 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | 数字货币 | 4.72 | 毛发医疗 | -0.99 | | 蚂蚁金服概念 | 4.40 | 青蒿素 | -0.92 | | 电子身份证 | 4.07 | 金属锌 | -0.92 | | 跨境支付(CIPS) | 3.83 | 金属铅 | -0.71 | | Web3.0 | 3.64 | 兵装重组概念 | -0.63 | | 移动支付 | 3.29 | 黄金概念 | -0.59 | | 数据确权 | 3.24 | 共享单车 | -0.48 | | 智谱AI | 3.20 | 金属钴 | -0.41 | | 快手概念 | 3.07 | 培育钻石 | -0.38 ...

资金流入比率方面，东信和平、海联金汇、恒生电子等流入比率居前，主力资金净流入率分别为 37.52%、35.81%、18.45%。（数据宝） 数字货币概念资金流入榜 截至6月16日收盘，数字货币概念上涨4.72%，位居概念板块涨幅第1，板块内，84股上涨，天阳科技、 四方精创等20%涨停，海联金汇、东信和平、中科金财等涨停，拉卡拉、星辉娱乐、雄帝科技等涨幅居 前，分别上涨15.34%、14.07%、13.81%。跌幅居前的有金一文化、小商品城、ST证通等，分别下跌 8.86%、0.83%、0.59%。 今日涨跌幅居前的概念板块 | 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | 数字货币 | 4.72 | 毛发医疗 | -0.99 | | 蚂蚁金服概念 | 4.40 | 青蒿素 | -0.92 | | 电子身份证 | 4.07 | 金属锌 | -0.92 | | 跨境支付(CIPS) | 3.83 | 金属铅 | -0.71 | | Web3.0 | 3.64 | 兵装重组概念 | -0.63 | | 移动支付 | 3.29 | 黄金概念 ...