Group 1: Strategic Cooperation and Business Model - The company has signed a strategic cooperation agreement with Guofu Quantum, a cross-border financial technology investment platform based in Hong Kong, which holds multiple licenses from the Hong Kong Securities and Futures Commission [4] - The collaboration aims to focus on virtual assets and digital currency businesses, leveraging both parties' resources in capital markets and financial technology [4] - The company plans to explore various business models with Guofu Quantum, including consulting services and asset tokenization technology services [6] Group 2: Stablecoin Applications and Market Potential - Stablecoins are expected to be widely used in cross-border payments, settlement, and RWA (Real World Assets) financing, offering advantages such as higher efficiency and lower costs compared to traditional methods [5] - The company aims to integrate stablecoins into the virtual asset ecosystem and explore potential cooperation opportunities in stablecoin issuance and virtual asset exchanges [5] Group 3: Technological Advantages and Experience - The company has accumulated significant technical experience in the digital renminbi system and possesses a mature technology framework in blockchain, smart contracts, and privacy computing [7] - It has established a localized delivery team for digital currency in the Greater Bay Area, enhancing its capability to support clients in various aspects of digital asset management [7] Group 4: Competitive Advantages and Client Base - The company has developed a diverse client base primarily consisting of banks, insurance, securities, trust, and asset management firms, creating a robust resource layout [8] - Its extensive industry experience, combined with a systematic R&D organization and innovative capabilities, forms a sustainable competitive advantage [8] Group 5: International Business Expansion - The company has established business relationships with Chinese clients in Hong Kong and is actively pursuing collaborations in Southeast Asia [9] - It plans to optimize its business delivery model in Hong Kong and gradually expand into Southeast Asia and countries along the Belt and Road Initiative [9]

Group 1 - The electronic sector saw a net inflow of over 6.32 billion, leading among various sectors [1][2] - The pharmaceutical sector experienced a net inflow of 1.58 billion, while the communication sector had a net inflow of 1.56 billion [2] - The mechanical equipment sector faced the highest net outflow at 3.15 billion, followed by basic chemicals at 2.10 billion and national defense at 1.82 billion [2] Group 2 - Industrial Fulian topped the list of individual stocks with a net inflow of 1.675 billion, representing a net inflow rate of 21.97% [3] - Other notable stocks with significant net inflows include Ningde Times at 1.135 billion and Luxshare Precision at 740 million [3] - Yuyin Co. led the net outflow list with over 700 million, followed by Shanzigaoke at 410 million and Changcheng Electric at 370 million [4]

Core Viewpoint - Digital currency concept stocks experienced a significant afternoon rally, with several companies hitting their daily price limits [1] Group 1: Company Performance - Jingbeifang (002987) and Jinyi Culture (002721) reached their daily limit up [1] - Hengbao Co., Ltd. (002104), Sifang Jingchuang (300468), and Jida Zhengyuan (003029) also saw price increases [1] Group 2: Market Activity - There is a notable influx of dark pool funds into these stocks, indicating increased investor interest [1]

Group 1 - Digital currency concept stocks experienced a partial rally, with Zhengyuan Wisdom (300645) rising over 10% [1] - Beijing North (002987) saw an increase of over 7% [1] - Other companies such as Hengbao Co., Ltd. (002104), Dongxin Peace (002017), and StarNet Ruijie (002396) also followed with gains [1]

证券研究报告 | 浙商早知道 报告日期：2025 年 07 月 03 日 浙商早知道 2025 年 07 月 03 日 ：王禾 执业证书编号：S1230512110001 ：021-80105901 ：wanghe@stocke.com.cn 市场总览 重要点评 【浙商计算机 刘雯蜀/叶光亮】京北方（002987）公司点评：携手国富量子，共同拓展稳定币生态——20250702 http://www.stocke.com.cn 1/3 请务必阅读正文之后的免责条款部分 大势：7 月 2 日上证指数下跌 0.09%，沪深 300 上涨 0.02%，科创 50 下跌 1.22%，中证 1000 下跌 1.01%，创业板 指下跌 1.13%，恒生指数上涨 0.62%。 行业：7 月 2 日表现最好的行业分别是钢铁（+3.37%)、煤炭（+1.99%)、建筑材料（+1.42%)、农林牧渔（+0.84%)、 银行（+0.75%)，表现最差的行业分别是电子（-2.01%)、通信（-1.96%)、国防军工（-1.94%)、计算机（-1.64%)、 美容护理（-1.09%)。 资金：7 月 2 日全 A 总成交额为 14051 ...

Q&A 金北方在稳定币业务方面有哪些战略思考和规划？ 金北方结合目前香港市场的稳定币新政出台，包括中央政府、央行及金融监管 当局对稳定币在香港发展的期望，制定了详细的战略规划。首先，金北方长期 关注数字货币、跨境支付及金融科技生态系统，并且在银行业态、保险业态、 证券业态等多个领域具有广泛的覆盖。基于当前市场和监管环境，公司计划实 施出海战略，利用深圳的交付团队负责香港和东南亚地区业务，通过澳门珠海 基地服务澳门本地市场，并进一步定位珠海业务以香港为基地，服务于香港本 土金融机构、中资机构及外资机构，同时延伸至一带一路沿线国家。 此外，公 司将从传统 IT 基础设施服务逐步转向平台化和牌照化相关业务，深度介入数字 货币、虚拟资产交易平台及生态圈多样化运营业务。通过与国富量子达成合作， 公司将利用其在香港持有的牌照资源，与金北方的技术能力形成互补，共同探 金北方在 RWA 领域探索咨询服务费、技术服务费和平台交易费用等盈 利模式，并已获得 12-15 项专利授权，另有 7-8 项正在受理，涵盖数字 货币、区块链隐私计算及智能合约领域。 金北方拥有广泛的金融机构客户群体，技术和服务型收入在 A 股金融科 技上市公 ...

Core Viewpoint - The strategic cooperation between Jingbeifang and Guofu Quantum marks the initiation of Jingbeifang's overseas expansion strategy, focusing on the virtual assets and digital currency sectors, particularly in the promising area of stablecoins [1][2]. Group 1: Strategic Cooperation - Jingbeifang and Guofu Quantum have signed a strategic cooperation agreement to collaborate deeply in the virtual asset and digital currency business, emphasizing stablecoins [1]. - Guofu Quantum, as the founding shareholder of Yuan Coin Technology, provides critical support for Jingbeifang's entry into the stablecoin market and expansion into overseas markets through its compliance licenses and ecosystem layout [1][2]. - The partnership aims to build a stablecoin issuance, circulation, and application ecosystem, leveraging both companies' strengths in technology and compliance [1][2]. Group 2: IT Technology Application Innovation - The collaboration will focus on researching the application of foundational technologies such as blockchain, artificial intelligence, big data, privacy computing, and quantum technology in stablecoin operations and virtual asset trading platforms [2]. - Both companies will work on IT infrastructure construction to support various application scenarios, including stablecoin wallets and supply chain finance platforms [2]. Group 3: Financial Business Innovation - The partnership will explore innovative financial business products and operational models within a compliant policy framework, targeting areas like inclusive finance, cross-border payments, and virtual asset transactions [2]. - By closely monitoring stablecoin policy dynamics, the companies aim to seize opportunities in the stablecoin sector and contribute to its healthy development while expanding their growth space in financial technology [2]. Group 4: Market Expansion Strategy - This cooperation is seen as a significant milestone in Jingbeifang's strategy to expand its non-bank financial institution client base, with Hong Kong positioned as a gateway to the international fintech market [3]. - Through collaboration with Guofu Quantum, Jingbeifang aims to break traditional models and achieve a global closed-loop system [3].

Investment Rating - The report maintains a "Buy" rating for the company [4] Core Insights - The company has signed a strategic cooperation agreement with Guofu Quantum Innovation Co., Ltd. to expand the stablecoin ecosystem, focusing on virtual assets and digital currency business [1][2] - The partnership aims to leverage both companies' resources in capital markets and fintech to drive innovation in financial scenarios and technology [1][2] - The company is officially launching its overseas strategy, using Hong Kong as a springboard to enter the global fintech and digital transformation market [3] Financial Forecast - The company is projected to achieve revenues of 5.147 billion, 5.685 billion, and 6.291 billion yuan for the years 2025, 2026, and 2027, respectively, with year-on-year growth rates of 11.01%, 10.46%, and 10.67% [4][6] - The net profit attributable to the parent company is expected to be 363 million, 416 million, and 472 million yuan for the same years, reflecting growth rates of 16.34%, 14.63%, and 13.54% [4][6] - The earnings per share (EPS) is forecasted to be 0.42, 0.48, and 0.54 yuan for 2025, 2026, and 2027, respectively [4][6]

京北方携手国富量子 聚焦虚拟资产及数字货币业务展开深度合作 智通财经7月2日电，近日，京北方信息技术股份有限公司与国富量子创新有限公司正式签署战略合作协 议。双方将凭借各自在资本市场和金融科技领域的资源禀赋，聚焦虚拟资产及数字货币业务展开深度合 作，共同推动金融场景和金融科技的融合创新发展。这一协议的签署，标志着京北方正式启动出海战 略，借政策东风之势，以香港为跳板，稳步迈向全球金融科技和数字化转型的广阔蓝海。京北方和国富 量子的此次战略合作将围绕IT技术应用创新、虚拟资产及稳定币生态圈合作创新、金融业务创新三个层 面展开。 ...

Group 1 - The electronic ID concept sector experienced a decline of 2.52%, ranking among the top losers in the concept sector, with Jida Zhengyuan hitting the limit down [1][2] - Among the stocks in the electronic ID sector, notable declines were seen in Xinguodu (-7.29%), Hengbao Shares (-3.97%), and Xiongdi Technology (-8.73%) [2][3] - Conversely, stocks that saw gains included Chutianlong (up 4.08%), ST Renzihang (up 2.43%), and Guoxin Technology (up 1.39%) [1][3] Group 2 - The electronic ID sector faced a net outflow of 1.997 billion yuan, with 33 stocks experiencing net outflows, and 7 stocks seeing outflows exceeding 100 million yuan [2] - The stock with the highest net outflow was Xinguodu, with a net outflow of 400 million yuan, followed by Hengbao Shares (270 million yuan) and Xiongdi Technology (215 million yuan) [2][3] - Stocks with the highest net inflow included Chutianlong (160 million yuan), Guoxin Technology (38.5 million yuan), and ST Renzihang (14.1 million yuan) [2][3]