根据《上市公司股权激励管理办法》（以下简称"《管理办法》 "）、深圳 证券交易所、中国证券登记结算有限责任公司深圳分公司有关规则的规定，北 京中科金财科技股份有限公司（以下简称"公司"）完成了 2025 年限制性股票 激励计划（以下简称"本激励计划"）首次授予登记工作，现将有关事项公告 如下： 一、本激励计划已履行的决策程序和信息披露情况 1．2025 年 8 月 7 日，公司召开第七届董事会第三次会议，审议通过了《关 于<北京中科金财科技股份有限公司 2025 年限制性股票激励计划（草案）>及 其摘要的议案》、《关于<北京中科金财科技股份有限公司 2025 年限制性股票激 励计划实施考核管理办法>的议案》以及《关于提请股东会授权董事会办理公 司 2025 年限制性股票激励计划相关事宜的议案》等议案，公司董事会薪酬与 考核委员会就本次激励计划相关议案发表了核查意见。 证券代码：002657 证券简称：中科金财 公告编号：2025-051 北京中科金财科技股份有限公司 关于 2025 年限制性股票激励计划首次授予登记完成的公告 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 ...

Core Insights - The supply chain finance market has shown a declining trend in both investment and financing activities from 2014 to 2025, with a peak financing amount of 38 billion yuan in 2018, reflecting the rapid development of the supply chain industry and its funding needs [1][2] - The average single investment amount in supply chain finance has mostly remained between 100 million to 200 million yuan from 2014 to 2025, with notable spikes in 2018, 2020, and 2022 due to specific policy supports and economic measures [2][9] - The investment landscape is shifting towards more cautious capital market behavior, with average single investment amounts expected to drop to the million yuan level starting in 2024 [2] Investment Trends - The number of financing events in the supply chain finance sector peaked in 2016 with 113 events, but has since decreased, with only 8 events recorded in both 2023 and 2024 [1] - In the first half of 2025, the total investment amount further decreased to 230 million yuan, indicating a continued contraction in the market [1] - B-round and strategic financing rounds are the most common, each accounting for 23% of the total financing rounds from 2021 to 2025, indicating a trend towards maturity and stability in financing needs [9] Geographic Focus - Investment in the supply chain finance sector is primarily concentrated in Shanghai (33%), followed by Beijing (16%), and both Guangdong and Zhejiang (15%) [12][14] - These regions are characterized by their economic development, numerous enterprises, and well-established industrial chains, facilitating frequent flows of capital, goods, and information [12] Investment Entities - Private equity and venture capital (PE/VC) firms dominate the investment landscape, accounting for 62% of total investments, while corporate investors make up 24% [11] - The presence of local government-backed funds is also notable, with government investments comprising around 4% of the total [11] Mergers and Acquisitions - The supply chain finance industry is experiencing a trend towards horizontal mergers, with most transactions involving the acquisition of over 50% equity in smaller firms, reflecting a move towards industry standardization [18] - The primary motivations for mergers and acquisitions include business expansion and capital appreciation, with a focus on enhancing service quality and regulatory compliance [18]

Group 1 - The data rights concept declined by 1.26%, ranking among the top declines in concept sectors, with *ST Dongtong hitting a 20% limit down [1] - Within the data rights sector, major decliners included Zhongke Jincai, Jiechuang Intelligent, and Yihualu, while ST Lingnan, ST Yilianzhong, and Tianyi Ma showed gains of 4.32%, 3.47%, and 2.55% respectively [1] - The data rights sector experienced a net outflow of 1.635 billion yuan, with 49 stocks seeing net outflows, and 7 stocks exceeding 50 million yuan in outflows, led by Zhongke Jincai with a net outflow of 334 million yuan [2] Group 2 - The top gainers in today's concept sectors included pork (+2.82%), cloud gaming (+2.63%), and electronic sports (+2.53%), while military information technology and data rights were among the top decliners [2] - The stocks with the highest net inflows included Shunwang Technology, ST Lingnan, and Vision China, with net inflows of 79.71 million yuan, 32.12 million yuan, and 21.07 million yuan respectively [2] - The data rights concept outflow list highlighted Zhongke Jincai with a decline of 6.49% and a turnover rate of 15.10%, followed by Yinzhijie and Zhongwen Online with declines of 1.04% and 1.23% respectively [3]

Market Overview - The Shanghai Composite Index fell by 0.26% on September 15, with 15 industries rising, led by power equipment and media, which increased by 2.22% and 1.94% respectively. The industries with the largest declines were comprehensive and communication, down by 1.80% and 1.52% respectively [1] Capital Flow Analysis - The main capital outflow from the two markets totaled 59.754 billion yuan, with only four industries experiencing net inflows. The automotive industry led with a net inflow of 3.166 billion yuan and a daily increase of 1.44%, followed by the media industry with a net inflow of 723 million yuan and a daily increase of 1.94% [1] - A total of 27 industries saw net capital outflows, with the electronics industry experiencing the largest outflow of 8.773 billion yuan, followed by the non-ferrous metals industry with an outflow of 8.606 billion yuan. Other industries with significant outflows included computers, communications, and power equipment [1] Computer Industry Performance - The computer industry declined by 0.24% today, with a total net outflow of 7.220 billion yuan. Out of 335 stocks in this sector, 85 rose, 2 hit the daily limit up, while 248 fell, with 2 hitting the daily limit down [2] - Among the stocks with net inflows, the top performer was Zhongke Shuguang, with a net inflow of 399 million yuan, followed by Desai Xiwai and Ronglian Technology, with net inflows of 280 million yuan and 267 million yuan respectively [2] - The stocks with the largest net outflows included Huasheng Tiancai, with an outflow of 492 million yuan, followed by Chunz中科技 and Zhongke Jincai, with outflows of 433 million yuan and 334 million yuan respectively [2] Capital Inflow and Outflow Rankings - **Top Inflow Stocks**: - Zhongke Shuguang: +4.58%, 7.94% turnover, 399 million yuan inflow - Desai Xiwai: +6.69%, 3.70% turnover, 280 million yuan inflow - Ronglian Technology: +10.05%, 23.67% turnover, 266 million yuan inflow [2] - **Top Outflow Stocks**: - Huasheng Tiancai: -4.77%, 22.68% turnover, -491 million yuan outflow - Chunz中科技: -7.16%, 13.09% turnover, -432 million yuan outflow - Zhongke Jincai: -6.49%, 15.10% turnover, -334 million yuan outflow [4]

Group 1 - Zhongke Jincai experienced a decline of 5.01% on September 15, with a stock price of 36.00 yuan per share, a trading volume of 1.292 billion yuan, a turnover rate of 10.47%, and a total market capitalization of 12.242 billion yuan [1] - The company, Beijing Zhongke Jincai Technology Co., Ltd., was established on December 10, 2003, and listed on February 28, 2012. Its main business includes application software development, technical services, and related computer information system integration services [1] - The revenue composition of Zhongke Jincai is as follows: 50.81% from data center comprehensive services, 31.66% from financial technology comprehensive services, 14.01% from artificial intelligence comprehensive services, and 3.52% from other supplementary services [1] Group 2 - Among the top ten circulating shareholders of Zhongke Jincai, Huabao Fund's Huabao Zhongzheng Financial Technology Theme ETF (159851) increased its holdings by 141,300 shares in the second quarter, holding a total of 2.8754 million shares, which accounts for 0.85% of the circulating shares [2] - The Huabao Zhongzheng Financial Technology Theme ETF (159851) was established on March 4, 2021, with a current scale of 5.731 billion yuan. Year-to-date returns are 30.56%, ranking 1471 out of 4223 in its category; the one-year return is 149.71%, ranking 28 out of 3803; and since inception, the return is 86.88% [2] Group 3 - The fund managers of Huabao Zhongzheng Financial Technology Theme ETF are Chen Jianhua and Cao Xucheng. As of the report, Chen Jianhua has a cumulative tenure of 12 years and 271 days, with a total fund asset size of 15.533 billion yuan, achieving a best fund return of 164.81% and a worst return of -49.65% during his tenure [3] - Cao Xucheng has a cumulative tenure of 117 days, with a total fund asset size of 22.061 billion yuan, achieving a best fund return of 89.32% and a worst return of 10.09% during his tenure [3]

Group 1 - The core viewpoint of the news highlights the active performance of the fintech sector, with significant capital inflows and a focus on financial technology ETFs [1][3] - As of September 12, the fintech ETF (159851) experienced a slight decline of 0.21%, with real-time net subscriptions reaching 12.7 million units and a transaction volume exceeding 750 million yuan [1][3] - Notable stocks in the fintech sector, such as Chuangshi Technology and Ronglian Technology, saw gains of over 4%, while other stocks like Dazhihui and Guangdian Yuntong rose by more than 3% [1][3] Group 2 - The Shanghai Composite Index broke through the previous high of 3888.6, reaching a new peak, indicating a positive market trend [2] - Foreign investors significantly increased their allocation to Chinese assets, with a net purchase of 39 billion USD in Chinese bonds and stocks in August, marking a new high for global hedge funds in their net buying of Chinese stocks since September 2024 [2] - According to Guangfa Securities, the fintech sector is experiencing upward momentum driven by both policy and capital market dynamics, with a focus on online trading and digital advisory services [3] Group 3 - The fintech ETF (159851) has surpassed 10 billion yuan in scale, with an average daily transaction volume of over 1.3 billion yuan in the past month, leading among five ETFs tracking the same index [3] - The political bureau meeting in July 2025 emphasized enhancing the attractiveness and inclusiveness of the domestic capital market, which is expected to support the growth of the fintech sector [3]

Group 1 - The State Council held a press conference on September 11 to introduce the pilot reform of market-oriented allocation of factors in some regions [1] - The National Bureau of Statistics will support pilot areas in enhancing public data sharing, opening, and authorized operation, aiming to create influential projects and develop replicable public data resource utilization models [1] - The National Bureau of Statistics will also explore new models for data circulation and trading, establish a data security governance system, and promote high-quality development and high-level security interactions [1] Group 2 - Relevant A-share concept stocks include Zhongke Jincai and People.cn [1]

Group 1 - Financial technology sector shows strong performance with the China Securities Financial Technology Theme Index rising over 1% [1] - Notable stocks include Ronglian Technology hitting the daily limit, and others like Zhina Compass and Xincheng Technology rising over 5% [1] - The popular ETF, the 100 billion Financial Technology ETF (159851), saw a 2% increase with real-time trading volume exceeding 300 million [1] Group 2 - Dongwu Securities indicates that the financial technology sector is currently at a low in terms of fundamentals and valuations, presenting significant allocation value [2] - The demand for digital transformation among brokerages is accelerating, supported by policy initiatives and economic stabilization [2] - Long-term investment value in the sector is expected to gradually emerge due to a stable macro environment and deepening capital market reforms [2] Group 3 - GF Securities believes that both policy and funding are driving the upward trend in financial technology [3] - The shift in resident investment habits and optimized capital allocation structures are benefiting internet financial platforms [3] - By 2025, it is estimated that new funds entering the market could reach approximately 500 billion [3] Group 4 - The Financial Technology ETF (159851) has a recent scale exceeding 10 billion, with an average daily trading volume of over 1.3 billion in the past month, leading among five ETFs tracking the same index [3]

Core Points - Zhongke Jincai announced the approval of the second unlock conditions for its 2023 restricted stock incentive plan during the fifth meeting of the seventh board of directors held on September 10, 2025 [2] - The company will proceed with the unlocking of 1,237,656 shares of restricted stock for five eligible incentive recipients as per the regulations [2]

Group 1 - The company announced the convening of the fifth meeting of the seventh board of directors on September 10, 2025 [2] - The board approved a proposal to purchase liability insurance for the company and all current directors and senior management [2] - The liability insurance coverage limit will not exceed RMB 50 million, with insurance costs not exceeding RMB 300,000, and the insurance period is set for 12 months [2]