Group 1 - The company, Zhongke Jincai, experienced a trading limit increase with a transaction volume exceeding 1.6 billion yuan [1] - The company plans to explore stablecoin business in collaboration with banks, provided that compliance requirements are met [1]

Group 1: Company Overview and Blockchain Initiatives - The company is a think tank for government and regulatory bodies in blockchain and has been the president unit of the Beijing Blockchain Technology Application Association since its establishment in 2016 [1][2] - The company has strategic investments in Dalian Financial Asset Exchange and Anhui Financial Asset Exchange, providing comprehensive financial trading services [2] - The company has developed various platforms related to digital RMB, including a smart contract security planning platform and a compliance risk management system [2] Group 2: Stablecoin Exploration and Market Potential - The company began exploring stablecoin business four years ago, focusing on policy and industry developments [3] - The global stablecoin market is valued at approximately $250 billion, having grown over 22 times in the past five years [4] - By 2030, the global supply of stablecoins is projected to reach $3 trillion, with annual transaction volumes exceeding $100 trillion [4] Group 3: Business Models and Revenue Streams - Stablecoin business models include interest income from fund management, service fees, and technology service fees [5] - The underlying zero-cost fund pool allows stablecoin issuers to convert all investment returns directly into profits [5] Group 4: Legislative Background and Opportunities - The U.S. Senate passed the GENIUS Stablecoin Act on May 19, and Hong Kong's Legislative Council approved the Stablecoin Ordinance Draft on May 21, establishing a comprehensive regulatory framework [6][7] - Stablecoins can enhance transaction efficiency, reduce costs, and improve risk management through their programmable features [7]

6月3日周二，A股小幅低开，三大股指早盘震荡拉升，稳定币概念再度活跃，黄金珠宝板块活跃。港股 高开，恒指、恒科指双双上涨超1%，生物医药板块强势拉升。债市方面，国债期货普遍下跌。核心市 场走势： | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 000001 | 上证指数 | S | 3347.84 | 0.35 | 0.01% | | 399001 | 深证成指 | VAY | 10056.12 | 15.50 | 0.15% | | 399006 | 创业板指 | 14 | 2002.31 | 9.12 | 0.46% | | 000300 | 沪深300 | V3 | 3841.13 | 0.90 | 0.02% | | 000016 | FiF50 | M | 2677.63 | -1.06 | -0.04% | | 000680 | 科创综指 | WAN | 1172.00 | 8.65 | 0.74% | | 000688 | 科创 20 | UNM | 983.19 | 6.17 | 0.63% | ...

稳定币概念股大涨 御银股份等多股涨停 智通财经6月3日电，稳定币概念股开盘大涨，御银股份、恒宝股份、翠微股份、海联金汇等涨停，雄帝 科技、四方精创、中科金财、天阳科技、拉卡拉等个股跟涨。消息面上，香港特别行政区政府于5月30 日在宪报刊登《稳定币条例》，这意味着《稳定币条例》正式成为法例。 ...

Investment Rating - The report gives a "Buy" rating for the company [4][6]. Core Insights - The company is undergoing a comprehensive transformation towards AI, with significant collaboration with Alibaba in the AI+Finance sector, leading to a projected revenue of 208 million yuan from AI services in 2024 [1][2]. - The financial industry is identified as a prime area for AI implementation, with substantial growth expected in IT investments within the sector [3][41]. - The company has shown a notable recovery in revenue, with a projected 16.5% year-on-year growth in 2024, and a significant increase in quarterly revenue performance [2][25]. Summary by Sections Company Overview - The company, established in December 2003, focuses on financial technology solutions and has shifted towards AI, with core products in banking imaging solutions [1][11]. - It has partnered with Alibaba to launch an AI-native platform, SinoAgent, which aims to enhance banking operations through AI-driven solutions [1][33]. Financial Performance - The company experienced a revenue decline from 2020 but is expected to recover, achieving 1.167 billion yuan in 2024, with a year-on-year growth of 16.5% [2][25]. - The fourth quarter of 2024 saw a remarkable revenue increase of 87.6% year-on-year, indicating a strong recovery trajectory [2][25]. - The gross margin has improved from 14% in 2019 to 19.3% in 2024, reflecting a strategic shift away from low-margin businesses [28][30]. AI and Financial Sector Insights - The financial sector is highlighted as a key area for AI deployment, with IT investment in Chinese banking expected to reach 237 billion yuan by 2027 [3][41]. - The company’s AI services are projected to grow significantly, with expectations of 30% revenue growth in the coming years [4][50]. Revenue Forecast and Valuation - Revenue forecasts for 2025-2027 are 1.517 billion, 1.969 billion, and 2.450 billion yuan, respectively, with corresponding growth rates of 30%, 30%, and 24% [4][57]. - The company’s price-to-sales (PS) ratio is projected to be 5, 4, and 3 for 2025-2027, indicating potential for valuation improvement [4][59].

➢ 投资建议：预计 2025-2027 年，公司营收分别为 15.17、19.69、24.5 亿 元，同比增速分别为 30%、30%、24%。公司当前股价对应 25-27 年 PS 为 5、 4、3 倍。考虑到公司的 AI 业务快速增长，当前估值仍有提升空间。首次覆盖， 给予"推荐"评级。 ➢ 风险提示： AI 落地进度不及预期；行业竞争加剧；下游客户预算不及预期。 [盈利预测与财务指标 Table_Forcast] 中科金财（002657.SZ）首次覆盖报告 携手阿里，发布独家 AI+金融原生 Agent 2025 年 05 月 31 日 ➢ 中科金财：老牌金融 IT 厂商，全面转型 AI。中科金财成立于 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，前瞻布局 AGI、 WEB3.0、数字人民币核心技术研发的银行 IT 领军企业，其核心产品为银行影像 解决方案。公司近年来全面转型 AI，与阿里云在 AI+金融领域深度合作，2024 年公司人工智能服务业务收入已达到 2.08 亿元。 ➢ 与阿里深度合作，独家发布软硬一体 AI 解决方案。2025 年 5 月 22 日，中 科金财 ...

Core Viewpoint - The data rights concept has shown a significant increase, with a rise of 4.64%, ranking sixth among concept sectors, indicating strong market interest and investment potential in this area [1][2]. Market Performance - As of May 29, the data rights concept saw 57 stocks increase in value, with notable performers including Lakala and Sifang Jingchuang, both reaching a 20% limit up. Other significant gainers included Zhongke Jincai and Jinqiao Information, which also hit the limit up [1]. - The top gainers in the data rights sector included Youbuxun, Jiechuang Intelligent, and Shencheng Jiao, with increases of 14.13%, 13.15%, and 9.84% respectively [1]. Capital Flow - The data rights concept attracted a net inflow of 2.677 billion yuan from main funds, with 39 stocks receiving net inflows, and 8 stocks exceeding 100 million yuan in net inflow. Sifang Jingchuang led with a net inflow of 661 million yuan [2][3]. - The stocks with the highest net inflow ratios included Jinqiao Information, Sifang Jingchuang, and Zhongke Jincai, with net inflow ratios of 29.88%, 21.65%, and 20.86% respectively [3]. Sector Comparison - The data rights concept's performance is notable compared to other sectors, with digital currency leading at a 6.50% increase, followed by electronic ID and cross-border payment concepts, which also showed strong gains [2].

Core Viewpoint - The fiscal and tax digitalization concept has seen a significant increase, with a rise of 4.45%, ranking 7th among concept sectors, indicating strong market interest and investment potential in this area [1][2]. Group 1: Market Performance - As of May 29, the fiscal and tax digitalization sector had 65 stocks rising, with notable performers including ShenZhou Information, TianDi Online, and ZhongKe JinCai reaching their daily limit up [1]. - The top gainers in this sector included JieChuang Intelligent, YongXin ZhiCheng, and ChangLiang Technology, with increases of 13.15%, 9.81%, and 9.79% respectively [1]. Group 2: Capital Inflow - The fiscal and tax digitalization sector attracted a net inflow of 1.407 billion yuan from major funds, with 40 stocks receiving net inflows [2]. - ZhongKe JinCai led the net inflow with 198 million yuan, followed by ChangLiang Technology and KeLan Software, each with 152 million yuan [2][3]. Group 3: Stock Performance Metrics - The stocks with the highest net inflow ratios included TianDi Online, ZhongKe JinCai, and ShenZhou Information, with net inflow ratios of 29.57%, 20.86%, and 18.26% respectively [3]. - The performance metrics for key stocks in the fiscal and tax digitalization sector showed significant trading activity, with ZhongKe JinCai achieving a trading turnover rate of 13.84% and ChangLiang Technology at 10.33% [3].

| 代码 | 简称 | 今日涨跌幅 | 今日换手率 | 主力资金流量（万 | 主力资金净流入比率 | | --- | --- | --- | --- | --- | --- | | | | （%） | （%） | 元） | （%） | | 300872 | 天阳科 技 | 19.97 | 19.19 | 34649.26 | 26.43 | | 300180 | 华峰超 纤 | 11.74 | 18.65 | 30988.19 | 14.70 | | 002657 | 中科金 财 | 10.00 | 13.84 | 19845.23 | 20.86 | | 002152 | 广电运 通 | 6.82 | 2.75 | 16584.62 | 20.06 | | 300682 | 朗新集 团 | 19.97 | 5.19 | 15398.19 | 17.88 | | 300348 | 长亮科 技 | 9.79 | 10.33 | 15229.87 | 15.77 | | 300663 | 科蓝软 | 8.50 | 14.30 | 15152.03 | 13.30 | | | 件 | | | | | | --- | ...

Group 1 - The Web3.0 concept index rose by 4.43%, ranking 8th among concept sectors, with 58 stocks increasing in value [1] - Notable gainers in the Web3.0 sector included Sifang Jingchuang, which hit the daily limit up of 20%, and other stocks like Tiandi Online, Zhongke Jincai, and Hongbo Co., which also saw significant increases [1][2] - The sector experienced a net inflow of 2.455 billion yuan, with 35 stocks receiving net inflows, and 7 stocks exceeding 100 million yuan in net inflow [2] Group 2 - The top stocks by net inflow in the Web3.0 sector included Sifang Jingchuang with a net inflow of 661 million yuan, followed by Hongbo Co. and Zhongke Jincai, each with net inflows of 468 million yuan and 198 million yuan respectively [2][3] - The highest net inflow ratios were observed in Yuanlong Yatu, Jinqiao Information, and Tiandi Online, with net inflow ratios of 33.45%, 29.88%, and 29.57% respectively [3][4] - Stocks like Tiandi Online and Xianjin Shuyuan also showed strong performance with daily increases of 10.01% and 8.28% respectively [4][5]