Core Viewpoint - The stock of Winning Time Technology has experienced a significant decline in price and financial performance, indicating potential challenges for the company in the near future [1][2]. Financial Performance - As of June 30, 2025, Winning Time Technology reported a revenue of 578 million yuan, a year-on-year decrease of 7.84% [2]. - The net profit attributable to shareholders was -79.18 million yuan, reflecting a year-on-year decrease of 46.22% [2]. - The company's stock price has dropped by 20.83% year-to-date, with a 1.71% decline over the last five trading days, a 10.06% drop over the last 20 days, and a 15.06% decrease over the last 60 days [1]. Shareholder Information - As of June 30, 2025, the number of shareholders decreased by 6.52% to 130,100, while the average circulating shares per person increased by 5.84% to 5,084 shares [2]. - The company has distributed a total of 687 million yuan in dividends since its A-share listing, with 105 million yuan distributed in the last three years [3]. Major Shareholders - Hong Kong Central Clearing Limited is the third-largest circulating shareholder, holding 10.66 million shares, an increase of 5.83 million shares compared to the previous period [3]. - Huabao CSI Financial Technology Theme ETF is the seventh-largest circulating shareholder, holding 5.09 million shares, an increase of 284,100 shares compared to the previous period [3]. Company Overview - Winning Time Technology, established on September 3, 2001, and listed on January 27, 2014, is based in Shenzhen, Guangdong Province [1]. - The company specializes in providing comprehensive IT solutions for asset management and custody services to financial institutions and high-end clients, with service fee income accounting for 55.06% and custom software development and sales for 44.94% of its revenue [1].

Market Overview - A-shares experienced a strong rally on September 29, with major indices collectively rising, including a 0.9% increase in the Shanghai Composite Index and over 2% gains in the Shenzhen Component Index and the ChiNext Index [1] - The total trading volume in the Shanghai and Shenzhen markets reached 21,614.65 billion yuan, an increase of 145.75 billion yuan from the previous day [1] Sector Performance - The top-performing ETFs included the Securities ETF (512000) which rose by 4.8%, the Nonferrous Metal Leaders ETF (159876) which increased by 4.17%, and the Financial Technology ETF (159851) which saw a peak increase of 4.88% during the day [2][4] - The Chemical ETF (516020) and the Green Energy ETF (562010) both experienced gains of over 2%, driven by strong performance in the solid-state battery sector [1][9] Investment Strategies - Analysts predict that the A-share market may gradually rise in the fourth quarter, supported by stable liquidity, economic recovery, and policy backing [2][3] - Historical trends suggest that the market typically performs well after the National Day holiday, with expectations for a continued upward trend post-holiday [2][3] Financial Technology Sector - The Financial Technology ETF (159851) has attracted significant investment, with a net subscription of 3.57 million units and a total of 12.87 billion yuan in inflows over the past ten days, indicating strong market confidence in the sector [4][9] - Key stocks in the financial technology sector, such as Guiding Compass and Oriental Fortune, have shown substantial gains, reflecting the sector's robust performance [6] Chemical Sector Developments - Recent government initiatives aim to accelerate the application of solid-state battery materials, which is expected to boost demand in the chemical sector [11] - The Chemical ETF (516020) has shown a favorable valuation, with a price-to-book ratio of 2.26, indicating potential for long-term investment [11][12] Conclusion - The current market environment presents opportunities in both the financial technology and chemical sectors, driven by policy support and strong investor interest [7][8][12]

Group 1 - Financial technology stocks experienced a significant upward trend on September 29, with Huijin Co., Ltd. hitting a 20% daily limit increase [1] - Zhinancun saw an increase of over 10% [1] - Other companies such as Wealth Trend, Win Times, Silver杰, and Great Wisdom all rose by more than 6% [1]

Core Viewpoint - The stock of Winning Time Technology has experienced a significant decline in 2023, with a year-to-date drop of 21.63% and a recent 5-day drop of 7.26% [1] Group 1: Stock Performance - As of September 29, Winning Time Technology's stock price was 21.60 CNY per share, with a trading volume of 3.08 billion CNY and a turnover rate of 2.19%, resulting in a total market capitalization of 16.22 billion CNY [1] - The stock has seen a net inflow of 3.33 million CNY from main funds, with large orders accounting for 22.29% of purchases and 22.38% of sales [1] Group 2: Financial Performance - For the first half of 2025, Winning Time Technology reported a revenue of 578 million CNY, a year-on-year decrease of 7.84%, and a net profit attributable to shareholders of -79.18 million CNY, down 46.22% year-on-year [2] - Since its A-share listing, the company has distributed a total of 687 million CNY in dividends, with 105 million CNY distributed in the last three years [3] Group 3: Shareholder Information - As of June 30, 2025, the number of shareholders for Winning Time Technology was 130,100, a decrease of 6.52% from the previous period, while the average circulating shares per person increased by 5.84% to 5,084 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 5.83 million shares to 10.66 million shares [3]

Group 1 - The company, Ying Shisheng, stated on September 19 that it will disclose the number of shareholders at specific points in time in its regular reports to ensure all investors receive information equally [2]

Market Overview - The Shanghai Composite Index closed at 3877.55 points, above the six-month moving average, with an increase of 0.41% [1] - The total trading volume of A-shares reached 1561.918 billion yuan [1] Stocks Breaking the Six-Month Moving Average - A total of 64 A-shares have surpassed the six-month moving average today [1] - Notable stocks with significant deviation rates include: - Ying Shisheng (300377) with a deviation rate of 3.74% and a daily increase of 5.83% [1] - United Optoelectronics (300691) with a deviation rate of 3.18% and a daily increase of 4.88% [1] - *ST Nanzhi (002305) with a deviation rate of 3.16% and a daily increase of 4.46% [1] Detailed Stock Performance - The following stocks have notable performance metrics: - Ying Shisheng (300377): Latest price 25.05 yuan, half-year line 24.15 yuan, turnover rate 7.63% [1] - United Optoelectronics (300691): Latest price 19.54 yuan, half-year line 18.94 yuan, turnover rate 7.03% [1] - *ST Nanzhi (002305): Latest price 2.34 yuan, half-year line 2.27 yuan, turnover rate 6.70% [1] - Other stocks with smaller deviation rates include: - ST Jinglan (000056) with a deviation rate of 2.97% and a daily increase of 5.98% [1] - Quanxin Co. (603766) with a deviation rate of 2.38% and a daily increase of 5.83% [1]

Group 1 - The core viewpoint of the news is the performance and financial details of Shenzhen Winsun Technology Co., Ltd., which has seen a stock price increase of 5.11% to 24.88 CNY per share, with a trading volume of 1.058 billion CNY and a market capitalization of 18.685 billion CNY [1] - Shenzhen Winsun was established on September 3, 2001, and went public on January 27, 2014. The company specializes in providing comprehensive IT solutions for asset management and custody services to financial institutions and high-end clients [1] - The company's revenue composition includes service fee income at 55.06% and custom software development and sales at 44.94% [1] Group 2 - Among the top ten circulating shareholders of Winsun, Huabao Fund's Huabao CSI Financial Technology Theme ETF (159851) increased its holdings by 284,100 shares in the second quarter, now holding 5.0906 million shares, which is 0.76% of the circulating shares [2] - The Huabao CSI Financial Technology Theme ETF was established on March 4, 2021, with a latest scale of 5.731 billion CNY. It has achieved a year-to-date return of 32.67%, ranking 1427 out of 4222 in its category, and a one-year return of 158.51%, ranking 19 out of 3804 [2] Group 3 - The fund managers of Huabao CSI Financial Technology Theme ETF are Chen Jianhua and Cao Xucheng. Chen has a cumulative tenure of 12 years and 273 days, with a total fund asset size of 15.533 billion CNY and a best fund return of 165.78% during his tenure [3] - Cao has a cumulative tenure of 119 days, managing a total fund asset size of 22.062 billion CNY, with a best fund return of 86.89% during his tenure [3]

Core Viewpoint - The financial technology sector is experiencing significant activity and capital inflow, driven by a favorable trading environment and the integration of AI technologies in financial services [1][3][4]. Group 1: Market Activity - Financial technology stocks such as Hengbao Co., Newland, Tonghuashun, and Yingshisheng have seen gains exceeding 2% [1]. - The financial technology ETF (159851) reached a peak increase of nearly 1% during trading, with a transaction volume surpassing 2 billion CNY and net subscriptions exceeding 1.4 million shares [1][4]. - The trading volume in the two markets has exceeded 1.5 trillion CNY for 44 consecutive trading days, indicating a robust trading environment [3]. Group 2: Factors Driving Growth - Three main factors are contributing to the recent activity in the financial technology sector: 1. The continuous increase in trading volume and the recovery of internet brokerage fundamentals, with expectations of a 70% increase in net profits for the third quarter [3]. 2. The integration of AI in financial services, enhancing product value and customer loyalty, with leading firms expected to maintain a competitive edge [3]. 3. Increased market risk appetite due to expectations of overseas interest rate cuts, benefiting small-cap stocks sensitive to financing costs [3]. Group 3: Investment Opportunities - The financial technology ETF (159851) and its associated funds are recommended for investment, as they cover a wide range of themes including internet brokerages, financial IT, cross-border payments, and AI applications [4]. - As of September 15, the financial technology ETF (159851) has a scale exceeding 10 billion CNY, with an average daily trading volume of over 1.4 billion CNY in the past month, indicating strong liquidity [4].

Company Overview - Shenzhen Winsun Technology Co., Ltd. is located in Futian District, Shenzhen, Guangdong Province, and was established on September 3, 2001. The company went public on January 27, 2014. It specializes in providing comprehensive IT solutions for asset management and custody services to financial institutions and their high-end clients [1]. - The company's main business revenue consists of service fees (55.06%) and custom software development and sales (44.94%) [1]. Financial Performance - As of June 30, 2025, Winsun reported a revenue of 578 million yuan, a year-on-year decrease of 7.84%. The net profit attributable to shareholders was -79.18 million yuan, down 46.22% year-on-year [2]. - Since its A-share listing, Winsun has distributed a total of 687 million yuan in dividends, with 105 million yuan distributed over the past three years [3]. Stock Market Activity - On September 16, Winsun's stock price increased by 2.02%, reaching 23.68 yuan per share, with a trading volume of 457 million yuan and a turnover rate of 2.95%. The total market capitalization is 17.784 billion yuan [1]. - Year-to-date, Winsun's stock price has decreased by 14.08%, with a 1.76% increase over the last five trading days, an 8.78% decrease over the last 20 days, and a 3.86% decrease over the last 60 days [1]. Shareholder Information - As of June 30, 2025, the number of shareholders for Winsun is 130,100, a decrease of 6.52% from the previous period. The average number of circulating shares per person is 5,084, an increase of 5.84% [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the third-largest, holding 10.6614 million shares, an increase of 5.828 million shares from the previous period. Huabao CSI Financial Technology Theme ETF ranks seventh, holding 5.0906 million shares, an increase of 284,100 shares [3]. Industry Classification - Winsun is classified under the Shenwan industry category of Computer-Software Development-Vertical Application Software. It is associated with concepts such as Huawei Kunpeng, Web3, digital currency, interconnected finance, and financial technology [1].

二〇二五年九月 深圳市福田区深南大道 4011 号港中旅大厦 21-26 楼，邮编：518048 21-26/F.,CTSTower,No.4011,ShenNanRoad,ShenZhen.P.C.518048 电话（Tel.）:(86)755-83025555；传真（Fax.）:(86)755-83025068,83025058 网站（Website）:http://www.huashang.cn 广东华商律师事务所 法律意见书 广东华商律师事务所 广东华商律师事务所 关于深圳市赢时胜信息技术股份有限公司 2025 年第一次临时股东会的 法律意见书 致：深圳市赢时胜信息技术股份有限公司 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国 证券法》（以下简称"《证券法》"）、中国证券监督管理委员会《上市公司股东会 规则》（以下简称"《股东会规则》"）以及《深圳市赢时胜信息技术股份有限公司 公司章程》（以下简称"《公司章程》"）的相关规定，广东华商律师事务所（以下 简称"本所"）接受深圳市赢时胜信息技术股份有限公司（以下简称"公司"）的 委托，指派律师出席并见证公司于 2025 年 9 ...