Group 1 - The core viewpoint is that the financial technology sector is experiencing strong growth, with the China Securities Finance Technology Theme Index rising by 2.48% and several constituent stocks showing significant gains [1] - The China Securities Regulatory Commission (CSRC) announced on December 6 that it will enhance classified regulation, optimize evaluation indicators for quality institutions, and moderately expand capital space and leverage limits to improve capital utilization efficiency [1] - Non-bank financials are currently undervalued, providing a safety margin, with the insurance sector benefiting from economic recovery and rising interest rates, particularly in health and pension insurance [1] Group 2 - The Financial Technology ETF closely tracks the China Securities Finance Technology Theme Index, which reflects the overall performance of listed companies in the financial technology sector [2] - As of November 28, 2025, the top ten weighted stocks in the index account for 53.31% of the total, including companies like Tonghuashun and Dongfang Caifu [2]

Core Viewpoint - Financial technology sector is experiencing significant gains due to favorable news, with major stocks like WinTimes rising over 15% and several others increasing by more than 5% [1] Group 1: Market Performance - Financial technology stocks opened high, with notable increases in companies such as WinTimes, Zhongke Jincai, and Chuangshi Technology [1] - The largest financial technology ETF (159851) rebounded over 2%, with a trading volume exceeding 200 million yuan and a net subscription of 87 million units [1] - The financial technology ETF has a current scale exceeding 9 billion yuan, with an average daily trading volume of 800 million yuan over the past six months, leading among similar ETFs [2] Group 2: Regulatory Impact - The recent reduction of risk factors for insurance companies by the financial regulatory authority is expected to expand the scale of insurance capital investment in A-shares, indicating a positive signal for the A-share market and potential influx of new capital [1] Group 3: Investment Strategy - The financial technology sector is anticipated to benefit from improved liquidity, with internet brokerages expected to see continued fundamental improvements [2] - Investment strategies for 2026 focus on two main lines: short-term market activity and mid-term performance elasticity of financial IT companies, driven by policy support and steady progress in brokerage innovation [2] - Recommendations include focusing on financial technology ETFs (159851) and related funds, which cover a wide range of themes including internet brokerages and AI applications [2]

北京市金杜（深圳）律师事务所 关于深圳四方精创资讯股份有限公司 2025 年第二次临时股东会 的法律意见书 致：深圳四方精创资讯股份有限公司 北京市金杜（深圳）律师事务所（以下简称本所）接受深圳四方精创资讯股份有 限公司（以下简称公司）的委托，根据《中华人民共和国证券法》（以下简称《证券 法》）、《中华人民共和国公司法》（以下简称《公司法》）、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》）等中华人民共和国境内 （以下简称中国境内，为本法律意见书之目的，不包括中国香港特别行政区、中国澳 门特别行政区和中国台湾省）现行有效的法律、行政法规、规章和规范性文件及现行 有效的公司章程有关规定，指派律师出席了公司于 2025 年 12 月 1 日召开的 2025 年 第二次临时股东会（以下简称本次股东会），并就本次股东会相关事项出具本法律意 见书。 为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限于： 1. 经公司 2025 年第一次临时股东会审议通过的《深圳四方精创资讯股份有限公 司章程》（以下简称《公司章程》）； 2. 公司于 2025 年 11 月 15 日刊登于巨潮资讯网 ...

证券代码：300468 证券简称：四方精创 公告编号：2025-052 深圳四方精创资讯股份有限公司 2025 年第二次临时股东会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 特别提示： 一、召开会议的基本情况 现场会议时间：2025 年 12 月 01 日下午 15:00； 网络投票时间为： （1）通过深圳证券交易所交易系统进行网络投票的具体时间为：2025 年 12 月 01 日上午 9:15-9:25，9:30-11:30，下午 13:00-15:00 （2）通过深圳证券交易所互联网投票系统投票的具体时间为：2025 年 12 月 01 日 9:15 至 2025 年 12 月 01 日 15:00 期间的任何时间。 1、 本次股东会未出现否决议案的情形； 2、 本次股东会不涉及变更以往股东会已通过的决议； 3、 本次股东会采用现场投票与网络投票相结合的方式召开。 1、 会议召集人：公司第五届董事会 2、 会议召开时间： 3、 会议主持人：董事长周志群先生 4、 现场会议召开地点：深圳市南山区粤海街道高新区社区高新南七道 8 号四方精创资讯大 ...

Core Viewpoint - The trend of A-share companies planning to list in Hong Kong continues, with 18 companies disclosing their intentions to issue H-shares and list on the Hong Kong Stock Exchange in November [1] Group 1: Companies Planning to List - 18 A-share listed companies have announced plans to issue H-shares and list in Hong Kong from November 1 to November 29 [1] - Zhongji Xuchuang announced on November 10 its intention to issue H-shares and list on the Hong Kong Stock Exchange [1] Group 2: Specific Company Announcements - Runjian Co., Ltd. announced on November 25 its plan to issue H-shares and list in Hong Kong [2] - Ningbo Yunsheng authorized management on November 24 to initiate preparations for issuing H-shares and listing in Hong Kong [2] - Igor announced on November 24 its plan to issue H-shares and list in Hong Kong [2] - Miao Exhibition announced on November 24 its intention to issue H-shares and list in Hong Kong [2] - Zhuoyi Information announced on November 20 its plan to issue H-shares and list in Hong Kong [2] - Yuanjie Technology announced on November 19 its intention to issue H-shares and list in Hong Kong [2] - Dashang Co., Ltd. announced on November 18 its plan to issue H-shares and list in Hong Kong [2] - Sifang Jingchuang announced on November 14 its intention to issue H-shares and list on the main board of the Hong Kong Stock Exchange [2] - Zejing Pharmaceutical announced on November 14 its plan to issue H-shares and list in Hong Kong [2] - Juxin Technology announced on November 14 its intention to issue H-shares and list in Hong Kong [2] - Deye Co., Ltd. announced on November 13 its plan to issue H-shares and list in Hong Kong [2] - Tuosida announced on November 12 its intention to issue H-shares and list in Hong Kong [2] - Marumi Bio announced on November 12 its plan to issue H-shares and apply for listing in Hong Kong [2] - Transsion Holdings announced on November 12 its intention to issue H-shares and list in Hong Kong [2] - Anker Innovations announced on November 11 its plan to issue H-shares and list in Hong Kong [2] - Visual China announced on November 4 that it is planning to issue H-shares [2] - Juhe Materials announced on November 3 its plan to issue FF shares and list in Hong Kong [2]

Core Viewpoint - Multiple indices in the A-share market are undergoing significant adjustments, with announcements made by the Shanghai and Shenzhen Stock Exchanges regarding changes to sample stocks in various indices [2][4]. Group 1: Index Adjustments - On November 28, the Shanghai Stock Exchange announced adjustments to the sample stocks of the Shanghai 50, Shanghai 180, Shanghai 380, and Sci-Tech 50 indices, effective after the market closes on December 12, 2025 [4][14]. - The Shanghai 50 index will replace four stocks, including the addition of SAIC Motor, Northern Rare Earth, Huadian New Energy, and Zhongke Shuguang, while Poly Development, China Mobile, China Aluminum, and CRRC will be removed [5][17]. - The Sci-Tech 50 index will replace two stocks, adding Aojie Technology and Shengke Communication, while Huaxi Biotechnology and Hangcai Co. will be removed [5][6]. Group 2: Shenzhen Stock Exchange Adjustments - The Shenzhen Stock Exchange announced that it will implement regular sample stock adjustments for the Shenzhen Component Index, ChiNext Index, Shenzhen 100, and ChiNext 50 on December 15, 2025 [6][14]. - The Shenzhen Component Index will add 17 stocks, including Tuowei Information, Sifang Jingchuang, and Wolong Nuclear Materials, while Guoyao Yizhi, Haide Shares, and Tibet Mining will be removed [6][7]. Group 3: Additional Index Changes - The ChiNext Index will add eight stocks, including Shuanglin Co., Changshan Pharmaceutical, and Changsheng Bearing [9][11]. - The CSI 300, CSI 500, and other indices will also undergo adjustments, with the CSI 300 replacing 11 stocks, including Huadian New Energy and Shenghong Technology, while removing FAW Liberation and Oppein Home [16][17]. - The CSI 500 index will replace 50 stocks, the CSI 1000 index will replace 100 stocks, and the CSI A50 and A100 indices will replace 4 and 6 stocks respectively [17].

Group 1 - The core point of the news is that Sifang Jingchuang's stock experienced a decline of 1.09% on November 18, with a trading volume of 5.09 billion yuan, indicating a negative sentiment in the market [1] - On the same day, Sifang Jingchuang had a financing buy-in amount of 43.00 million yuan and a financing repayment of 56.36 million yuan, resulting in a net financing buy of -13.35 million yuan [1] - As of November 18, the total balance of margin trading for Sifang Jingchuang was 1.21 billion yuan, with the financing balance accounting for 6.81% of the circulating market value, which is above the 50th percentile level over the past year [1] Group 2 - Sifang Jingchuang, established on November 21, 2003, and listed on May 27, 2015, provides comprehensive solutions for financial institutions, focusing on digital transformation and traditional business [2] - The company's revenue composition shows that software development and maintenance account for 95.86%, consulting services for 3.77%, and system integration for 0.36% [2] - For the period from January to September 2025, Sifang Jingchuang reported a revenue of 453 million yuan, a year-on-year decrease of 14.46%, while the net profit attributable to shareholders increased by 27.36% to 66.89 million yuan [2] Group 3 - Since its A-share listing, Sifang Jingchuang has distributed a total of 300 million yuan in dividends, with 117 million yuan distributed in the last three years [3] - As of September 30, 2025, the top ten circulating shareholders include notable institutional investors, with Huabao Zhongzheng Financial Technology Theme ETF being the third-largest shareholder, increasing its holdings by 3.34 million shares [3] - Other significant changes in holdings include a decrease of 35,100 shares by Southern Zhongzheng 1000 ETF and increases in holdings by several other funds, indicating active trading among institutional investors [3]

Group 1: Company Investigation - Kexin Information (300730) has been investigated by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, as announced on November 17, 2025 [1] - The company reported a revenue of 93.65 million yuan for the first three quarters, a year-on-year decline of 36.58%, and a net loss attributable to shareholders of 58.84 million yuan [1] - Kexin Information's stock price was 18.01 yuan per share, with a total market capitalization of 4.343 billion yuan as of November 17 [1] Group 2: Financing Trends - The financing balance of A-shares has reached a historical high of 24,746.99 billion yuan as of November 14, 2025, marking a 34.63% increase from the end of the previous half-year [2] - Thirteen primary industries have seen net financing purchases exceeding 10 billion yuan, with the electronics sector leading at 148.91 billion yuan [2] - The power equipment sector followed with net financing purchases of 91.57 billion yuan, while the communication and non-ferrous metal sectors also exceeded 40 billion yuan [2] Group 3: Individual Stock Performance - A total of 110 stocks have recorded net financing purchases exceeding 1 billion yuan since the second half of 2025, with Ningde Times (300750) leading at 12.25 billion yuan [4] - Other notable stocks include Xinyi Technology (300502) and Zhongji Xuchuang (300308), with net financing purchases of 11.68 billion yuan and 11.43 billion yuan, respectively [4] - The demand for optical modules is expected to grow significantly, with a projected compound annual growth rate of 22% over the next five years, driven by AI applications and network upgrades [5]

Group 1 - The core viewpoint is that the financial technology sector is experiencing significant growth, driven by banks' increasing investments in technology to enhance their competitive edge amid digital transformation challenges [1][2] - The China Securities Financial Technology Theme Index (930986) has risen by 1.52%, with notable increases in constituent stocks such as Xinghuan Technology (688031) up 11.31% and Geer Software (603232) up 10.00% [1] - Recent procurement signals from multiple banks indicate a strong demand for technology solutions, with some project bids exceeding 20 million yuan and service periods extending up to three years [1] Group 2 - Dongwu Securities highlights that the internet finance sector is focusing on short-term performance elasticity, while securities IT is paying attention to the demand for trusted computing [2] - The financial technology ETF index closely tracks the performance of the China Securities Financial Technology Theme Index, which reflects the overall performance of listed companies in the financial technology sector [2] - As of October 31, 2025, the top ten weighted stocks in the China Securities Financial Technology Theme Index account for 54.41% of the index, indicating a concentration in key players such as Tonghuashun (300033) and Dongfang Caifu (300059) [2]

Group 1 - The core point of the article is that Sifang Jingchuang (SZ 300468) held its 11th meeting of the 5th Board of Directors on November 14, 2025, to discuss adjustments to the committee members [1] - For the first half of 2025, the revenue composition of Sifang Jingchuang was as follows: banks accounted for 91.61%, others for 5.63%, and non-bank financial institutions for 2.75% [1] - As of the time of reporting, Sifang Jingchuang had a market capitalization of 17.8 billion yuan [1]