Core Viewpoint - The cross-border payment sector is experiencing significant declines, with multiple companies facing substantial stock price drops [1] Company Performance - *ST Dongtong has seen a decline of over 10% in its stock price [1] - Yidian Tianxia's stock has dropped by more than 8% [1] - Sifang Jingchuang's shares have decreased by over 6% [1] - Other companies such as Jingbeifang, Lakala, and Chutianlong are also experiencing downward trends in their stock prices [1]

Core Viewpoint - As of September 19, 2025, the number of shareholders for Jingbeifang (002987) is reported to be 103,236 accounts, including margin accounts [1] Summary by Category - **Company Information** - Jingbeifang has a total of 103,236 shareholders as of the specified date, which includes combined figures from margin accounts [1]

Company Overview - Jingbeifang Information Technology Co., Ltd. is located in Haidian District, Beijing, and was established on December 16, 2009. It was listed on May 7, 2020. The company primarily provides information technology services and business process outsourcing to financial institutions, mainly banks [2]. - The revenue composition of Jingbeifang includes: software development and services (33.73%), financial technology solutions (30.03%), smart customer service and consumer finance precision marketing (19.58%), digital operation and services (13.95%), and AI and big data innovative products (2.71%) [2]. Financial Performance - For the first half of 2025, Jingbeifang achieved operating revenue of 2.361 billion yuan, representing a year-on-year growth of 5.22%. However, the net profit attributable to shareholders decreased by 0.91% to 119 million yuan [2]. - Since its A-share listing, Jingbeifang has distributed a total of 318 million yuan in dividends, with 261 million yuan distributed over the past three years [2]. Stock Performance - As of September 23, Jingbeifang's stock price was 21.46 yuan per share, with a market capitalization of 18.613 billion yuan. The stock has increased by 114.90% year-to-date but has seen a decline of 4.32% over the past five trading days and 16.56% over the past 20 days [1]. - The stock has appeared on the "Dragon and Tiger List" 10 times this year, with the most recent appearance on August 22, where it recorded a net purchase of 4.7231 million yuan [1]. Shareholder Structure - As of June 30, 2025, the top ten circulating shareholders of Jingbeifang include Hong Kong Central Clearing Limited as the fifth largest shareholder, holding 4.1497 million shares, a decrease of 1.3882 million shares from the previous period. Other notable shareholders include Southern CSI 1000 ETF and Huabao CSI Financial Technology Theme ETF, which have increased their holdings [3].

Group 1 - The company, Jingbeifang (002987), reported that as of September 10, 2025, the number of shareholders is 107,560, including margin accounts [1]

Group 1 - The core viewpoint of the report is that Haitong International has given a "better than market" rating to Jingbeifang (002987.SZ) with a target price of 30.57 yuan, indicating a positive outlook for the company [1] - The company is focusing on innovative product lines, which contributes to its stable operating conditions [1] - The AI new business is making continuous progress, which will inject new momentum into the company's development [1]

Investment Rating - The report maintains an "Outperform" rating for the company with a target price of RMB 30.57 per share, based on a 73x PE for 2025 [1][10]. Core Insights - The company is focusing on innovative product lines, particularly in AI and big data, showing stable growth with a revenue increase of 5.22% year-on-year in H1 2025, reaching RMB 2.36 billion [5][11]. - The net profit attributable to shareholders was RMB 119 million, reflecting a slight decrease of 0.91% year-on-year [5][11]. - The fintech solutions sector generated revenue of RMB 709 million, up 15.94% year-on-year, while the AI and big data sector saw a significant revenue increase of 73.48%, reaching RMB 64 million [5][11]. - The company has successfully won a project with a state-owned bank focusing on AI risk management, showcasing its technical strength in the AI application sector [12][13]. - A strategic partnership with Guofu Quantum has been established to explore opportunities in the virtual asset market, focusing on IT infrastructure for stablecoin and virtual asset platforms [13]. Financial Summary - The company forecasts revenue growth from RMB 4,242 million in 2023 to RMB 6,428 million by 2027, with a compound annual growth rate (CAGR) of approximately 11.4% [2][6]. - Net profit is expected to grow from RMB 348 million in 2023 to RMB 481 million by 2027, with a projected increase of 16.3% in 2027 [2][6]. - The EPS is forecasted to increase from RMB 0.40 in 2023 to RMB 0.55 in 2027 [2][6]. - The company maintains a healthy return on equity (ROE) forecast, increasing from 13.7% in 2023 to 14.0% in 2027 [2][6].

京北方 20250905 摘要 京北方 2025 年上半年营收同比增长 6.68%，其中 IT 业务增长 10.71%，BPO 服务与去年持平。归母净利润和扣非净利润与去年同期 基本持平，但单季度规模略有增长，整体业绩符合预期。 公司在中小银行客户收入增长约 10%，非银行金融机构（券商、保险） 收入增速达 25.6%，成功突破多家券商并形成规模收入的保险机构，为 未来增长提供动力。 受益于 Deepseek 推动，AI 应用领域收入同比增长约 70%，实现六七 千万元收入，高于年初规划的 50%，表明金融机构对 AI 应用投入积极。 公司快速切入稳定币、虚拟资产和数字资产领域，与香港国付量子战略 合作，参与数字资产交易和基础设施建设，并与中资机构进行售前交流， 预计下半年将继续发展。 京北方在人工智能及大数据产品线方面取得显著成果，主要有三个方向 的产品推动了收入增长：技术大模型平台基座、不同业务场景的应用、 大模型训练调优前的数据优化处理与清洗。 Q&A 请简要介绍一下京北方公司在 2025 年上半年的整体经营情况。 2025 年上半年，京北方公司按照年初制定的战略稳步推进经营，整体收入实 现 23.61 ...

Core Viewpoint - The announcement details the equity changes involving the controlling shareholder and actual controller of Jingbeifang Information Technology Co., Ltd., specifically regarding the reduction of shares by Yuandao (Wenzhou) Venture Capital Partnership (Limited Partnership) [1][2]. Group 1: Shareholder Changes - Yuandao Investment plans to reduce its holdings by up to 26,000,000 shares, representing a maximum of 3.00% of the total share capital, with a limit of 2% through block trades and 1% through centralized bidding [1]. - As of the recent notification, Yuandao Investment has reduced its holdings by 2,094,611 shares, resulting in a total holding percentage that touches the 1% integer multiple [2]. Group 2: Shareholding Structure - Following the recent equity changes, the combined shareholding of the controlling shareholder, actual controller, and concerted parties is 409,188,835 shares, which is a decrease of 0.47% from previous holdings [3]. - The total share capital before the changes was 411,283,446 shares, with the reduction primarily due to the planned share reduction and passive changes from stock incentive plans [3][4]. Group 3: Compliance and Future Plans - The share reduction is in line with previously disclosed plans and commitments, ensuring compliance with relevant laws and regulations [4]. - The reduction plan has not yet been fully implemented, indicating potential future changes in shareholding [4].

一、本次权益变动基本情况 证券代码：002987 证券简称：京北方 公告编号：2025-045 京北方信息技术股份有限公司 关于控股股东、实际控制人及一致行动人权益变动 触及1%整数倍的公告 元道（温州）创业投资合伙企业（有限合伙）保证向本公司提供的信息内容 真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 特别提示： 京北方信息技术股份有限公司（以下简称"公司"）于2025年7月12日在巨 潮资讯网（www.cninfo.com.cn）上披露了《关于实际控制人之一致行动人减持 股份的预披露公告》（公告编号：2025-032）。公司控股股东、实际控制人之一 致行动人元道（温州）创业投资合伙企业（有限合伙）（更名前为：和道（天津） 企业管理合伙企业（有限合伙），以下简称"元道投资"）计划自公告披露之日 起十五个交易日后的三个月内通过大宗交易及集中竞价交易方式减持其持有的 公司股份不超过26,000,000股，即不超过公司总股本的3.00%。其中以大宗交易 方式减持公司股份不超过公司总股本的2%，以集中竞价交易方式减持公司股份不 超过公司总 ...

Core Viewpoint - The collaboration between Meinian Health, Guofu Quantum, and Jingbeifang aims to explore the value release of digital assets in the healthcare sector, leveraging each company's strengths to innovate and upgrade the health industry [1][4]. Group 1: Collaboration and Strategic Goals - Meinian Health's subsidiary has signed a framework agreement with Guofu Quantum and Jingbeifang to explore comprehensive business opportunities in the digital asset RWA (Real World Asset) field [1]. - The partnership will focus on the tokenization of medical assets under the regulatory frameworks of mainland China and Hong Kong, aiming to reshape the value chain in the healthcare sector [1][4]. - This collaboration is expected to transform Meinian Health from a "health examination service provider" to a "medical data technology platform," enhancing its cash flow structure and expanding its business capabilities [4]. Group 2: Asset and Data Strengths - As of 2024, Meinian Health operates 576 health examination centers equipped with advanced medical devices, establishing a solid foundation of tangible assets [2]. - The company has served over 200 million people, with more than 25 million health examinations conducted in 2024, accumulating extensive multimodal health data [2][9]. - Meinian Health has developed AI applications for health management, including intelligent health managers and disease risk prediction models, which enhance its service offerings and operational efficiency [2][8]. Group 3: Research and Development Achievements - Meinian Health has led a national key research project to build a health examination big data cloud platform, gathering over 130 million health examination records, which supports the value of its data assets [6][7]. - The company has published numerous research papers based on its health examination data, contributing to significant findings in public health and disease prevention [17][18]. - Collaborations with prestigious medical institutions have resulted in breakthroughs in various health-related research projects, further validating the commercial potential of its data [16][18]. Group 4: Unique Data Advantages - Meinian Health's health examination data focuses on asymptomatic populations, providing unique insights for early disease detection and prevention [11]. - The data's medical-grade accuracy and comprehensive multimodal integration enhance its value for serious medical research compared to consumer-grade health monitoring devices [12][13]. - The company's annual health examinations create a natural cohort tracking mechanism, ensuring high compliance and data integrity for longitudinal studies [14][15].