数字货币概念股短线跳水，中亦科技（301208）跌超10%，金一文化（002721）接近跌停，京北方 （002987）、雄帝科技（300546）、楚天龙（003040）、四方精创（300468）纷纷下挫。 ...

Core Insights - The implementation of the Hong Kong Stablecoin Regulation in July 2025 marks a significant step in the regulation of stablecoins, enhancing cross-border payment efficiency by over 90% and reducing costs to one-tenth of traditional methods [1][3] - The expansion of the digital yuan pilot to 50 cities, with annual transactions exceeding 1 trillion yuan, highlights China's advancements in digital currency, prompting major tech companies like Ant Group and JD.com to invest in compliant stablecoins [3] - Stablecoins are positioned as a bridge between cryptocurrencies and traditional finance, addressing long-standing issues in cross-border trade such as high fees, slow settlements, and low transparency, with the market for cross-border payments growing at an annual rate exceeding 200% [3] Company Summaries - **Four方精创**: A key service provider for the Hong Kong Monetary Authority, developing the mBridge cross-border clearing module and offering a platform for stablecoin issuance, with potential annual revenue exceeding 250 million HKD if the stablecoin market reaches 50 billion HKD [5] - **拉卡拉**: The only domestic third-party payment institution with a full license for cross-border RMB payments, supporting stablecoin payments through 5 million POS terminals, with a projected revenue of 200 million yuan from stablecoin-related activities in 2025 [6] - **海联金汇**: Holds the only MSO license among A-share companies, with significant market share in Southeast Asia and participation in the mBridge project, reporting a 950% year-on-year increase in net profit in Q1 2025 [6] - **恒宝股份**: A leading supplier of hardware security modules for digital currencies, with a market share exceeding 30%, providing hardware for stablecoin transactions and participating in the mBridge project [7] - **新大陆**: A global leader in smart terminals, integrating digital yuan and stablecoin functionalities, with a projected order of 200,000 terminals in Southeast Asia in 2025 [7] - **京北方**: The only A-share company explicitly linked to stablecoin technology, providing underlying settlement technology for major banks and participating in the mBridge project [8] - **雄帝科技**: Developed a dual-track payment system compatible with both digital yuan and stablecoins, providing key services for the Hong Kong pilot [8] - **华峰超纤**: Collaborating with JD Wallet to test stablecoin retail scenarios in the UAE, with a focus on programmable payment protocols [9] - **恒生电子**: Provides core system support for Ant Group's stablecoin operations, with a significant market share in asset management systems [10] - **数字认证**: Supplies key management services for stablecoins to the Hong Kong Monetary Authority, with a strong presence in government blockchain projects [10]

Core Insights - Stablecoins serve as a "dual currency" between decentralized digital currencies and fiat currencies, offering advantages in payment convenience, privacy protection, and value stability, thus becoming a low-cost, high-efficiency payment tool [1] - The recent regulatory policies in the US and Hong Kong have initiated a new "currency war," positioning the stablecoin market as a critical battleground for maintaining US dollar hegemony and promoting the internationalization of the Chinese yuan [1] Group 1: Definition and Mechanism of Stablecoins - Stablecoins are special digital currencies issued by stablecoin developers, large e-commerce companies, and licensed financial institutions, combining the advantages of digital currencies and fiat currencies [2] - The core technology of stablecoins is based on decentralized distributed ledger technology within blockchain systems, enabling direct payment transactions without traditional banking intermediaries [2] Group 2: Types and Issuance Mechanisms of Stablecoins - The main issuance mechanisms for stablecoins include fiat currency collateralized issuance, cryptocurrency collateralized issuance, high liquidity commodity collateralized issuance, and algorithmic uncollateralized issuance, with fiat and cryptocurrency collateralized issuance accounting for over 99.8% of the market [3][4] - Fiat currency collateralized stablecoins are pegged to a single currency or a basket of fiat currencies, while cryptocurrency collateralized stablecoins use cryptocurrencies as collateral, often employing over-collateralization to mitigate market risks [3][4] Group 3: Market Value and Growth of Stablecoins - Since 2020, the stablecoin market has grown from 5 billion to 250 billion USD, with an annual growth rate exceeding 100%, and transaction volumes approaching 37 trillion USD [7] Group 4: Regulatory Landscape and Market Analysis - The regulatory frameworks in China, Hong Kong, and the US differ significantly, with China prioritizing financial sovereignty, Hong Kong focusing on market development, and the US emphasizing the control of underlying technologies to maintain dollar dominance [11][8] - The US stablecoin market is dominated by USDT and USDC, which together account for over 80% of the market share [10] Group 5: Recent Regulatory Developments - The US Senate passed the "GENIUS Act" on May 19, 2025, establishing a federal regulatory framework for stablecoins, requiring issuers to obtain licenses and maintain a 1:1 collateralization ratio with high liquidity assets [14][15] - Hong Kong's "Stablecoin Ordinance," effective August 1, 2025, introduces a licensing regime for stablecoin issuers, ensuring 100% reserve requirements and enhancing market transparency [16][17] Group 6: Applications in Cross-Border Payments and E-commerce - Stablecoins are positioned as a solution to the inefficiencies of traditional cross-border payment systems, significantly reducing costs and transaction times [32] - Major e-commerce giants like JD.com and Ant Group are exploring the issuance of their own stablecoins to enhance financial capabilities and streamline cross-border transactions [35]

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]

Market Overview - The A-share market experienced fluctuations on July 1, with the Shanghai Composite Index rising by 0.09%, while the Shenzhen Component Index and the ChiNext Index fell by 0.34% and 0.57% respectively [2][4]. Chip Industry - The chip industry chain continued to rise, with sectors such as photolithography machines and advanced packaging leading the gains. Notable stocks like Blue Eagle Equipment and San Chao New Materials reached the daily limit of 20% increase [6][8]. - The photolithography machine segment is highlighted as a core area for self-sufficiency, with significant market share in semiconductor equipment. Domestic demand for photolithography machines is expected to remain strong as local wafer fabs continue to expand [8]. Stablecoin Concept Stocks - Stablecoin concept stocks saw a significant decline, with companies like Jingbeifang, Xiongdi Technology, and Cuiwei Co. all dropping over 6% [9][10]. - The current divergence in monetary policy between the U.S. government and the Federal Reserve has created uncertainty regarding the future of stablecoin legislation, which is closely tied to the core issue of U.S. dollar issuance rights [10][11].

Group 1 - The U.S. President Trump signed an executive order to end sanctions against Syria, allowing for the relaxation of export controls on certain goods and aid to Syria [2] - Iran's Foreign Ministry is documenting Israel's aggression and crimes, maintaining communication with international organizations [3] - 17 provinces in China reported their fiscal data for the first five months of 2025, with Jilin province showing the highest growth rate [4] Group 2 - China's Ministry of Foreign Affairs stated that it has conditionally restored imports of seafood from certain regions of Japan, while maintaining its opposition to the discharge of nuclear-contaminated water [6] - The Chinese Ministry of Commerce expressed strong dissatisfaction and opposition to Canada's closure of Hikvision's operations in Canada, citing national security concerns [7] - China's manufacturing PMI rose to 49.7% in June, indicating a continuous improvement in manufacturing activity [8] Group 3 - The Ministry of Culture and Tourism in China plans to issue 570 million yuan in consumer vouchers during the summer cultural and tourism consumption season [9][10] - The Yangtze River Delta railway is expected to send over 190 million passengers during the summer transport period, marking a historical high [11] - The Chinese government announced a tax credit policy for foreign investors using distributed profits for direct investment in China from 2025 to 2028 [12] Group 4 - The State Administration of Foreign Exchange issued a new batch of QDII quotas totaling 3.08 billion USD to support qualified domestic institutional investors in cross-border investment [13] - The number of legal entities and other organizations in China has surpassed 200 million, with over 66 million legal entities and more than 1.27 billion individual businesses [14] - Chengdu's land revenue in the first half of the year reached 44 billion yuan, with a year-on-year increase of over 100% [16] Group 5 - Baidu and Huawei announced significant open-source initiatives for their AI models, with Baidu releasing 10 models from its Wenxin series and Huawei open-sourcing its Pangu models [29] - The competition in the Chinese automotive industry is intensifying as BYD is reportedly surpassing Tesla in sales in several key global markets [36]

第六届董事会第五次会议决议公告 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、 误导性陈述或重大遗漏。 一、董事会会议召开情况 深圳市雄帝科技股份有限公司（以下简称"公司"）第六届董事会第五次会 议于 2025 年 6 月 30 日在公司会议室以现场与通讯表决的方式召开，会议通知于 2025 年 6 月 27 日以电子邮件、电话方式送达。本次董事会应参加董事 7 人，实 际参加董事 7 人，其中王绍宏、冯绍津、漆韡及唐孝宏以通讯表决方式参会。会 议由公司董事长郑嵩先生主持，公司全体监事、高级管理人员及董事会秘书列席 了本次会议。会议的召开符合《公司法》《公司章程》和《董事会议事规则》的 有关规定。 二、董事会会议审议情况 证券代码：300546 证券简称： 雄帝科技 公告编号：2025 – 030 深圳市雄帝科技股份有限公司 表决结果：同意：7 票；反对：0 票；弃权：0 票。 三、备查文件 1.《深圳市雄帝科技股份有限公司第六届董事会第五次会议决议》； 2. 深交所要求的其他文件。 特此公告。 深圳市雄帝科技股份有限公司董事会 经与会董事投票表决，审议通过了如下决议： 1.审议通过 ...

深圳市雄帝科技股份有限公司（以下简称"公司"或"雄帝科技"）于 2025 年 6 月 30 日召开第六届董事会第五次会议及第六届监事会第五次会议，会议审 议通过《关于新增部分募投项目实施主体、调整盈利模式及开立募集资金专户并 签订三方监管协议的议案》，同意新增部分募投项目实施主体、调整盈利模式及 开立募集资金专户并签订三方监管协议事项。现将具体情况公告如下： 一、募集资金基本情况 根据中国证券监督管理委员会《关于同意深圳市雄帝科技股份有限公司向特 定对象发行股票注册的批复》（证监许可〔2021〕1346 号），公司获准向特定对象 发行人民币普通股（A 股）股票 6,896,551 股，发行价为每股人民币 29.00 元， 共计募集资金 199,999,979.00 元，坐扣不含税承销和保荐费用 2,358,490.56 元 （实际不含税保荐及承销费为 3,301,886.78 元，前期已预付不含税保荐费 943,396.22 元）后的募集资金为 197,641,488.44 元，已由主承销商平安证券股 份有限公司于 2022 年 3 月 23 日汇入本公司募集资金监管账户。另扣除律师费、 审计费、发行登记费等 ...

证券代码：300546 证券简称： 雄帝科技 公告编号：2025 – 031 深圳市雄帝科技股份有限公司 经与会监事投票表决，审议通过了如下决议： 1.审议通过《关于新增部分募投项目实施主体、调整盈利模式及开立募集资 金专户并签订三方监管协议的议案》 经审核，监事会认为：本次募投项目相关调整事项，根据公司自身业务战略 布局及实际经营发展需要所做的调整具有合理性，符合公司及全体股东利益，不 存在改变或变相改变募集资金投资方向的情形，符合《上市公司募集资金监管规 则》《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运 作》等相关法律法规的规定。不存在损害公司及全体股东尤其是中小股东利益的 情形，不会对募投项目实施造成不利影响。 具体内容详见公司同日于巨潮资讯网（http://www.cninfo.com.cn）披露的 《关于新增部分募投项目实施主体、调整盈利模式及开立募集资金专户并签订三 方监管协议的公告》。 表决结果：同意：3 票；反对：0 票；弃权：0 票。 三、备查文件 第六届监事会第五次会议决议公告 本公司及监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、 误导性陈述或 ...

平安证券股份有限公司 关于深圳市雄帝科技股份有限公司 新增部分募投项目实施主体、调整盈利模式及开立募集资金专 户并签订三方监管协议事项的核查意见 根据中国证券监督管理委员会《关于同意深圳市雄帝科技股份有限公司向 特定对象发行股票注册的批复》（证监许可〔2021〕1346 号），公司获准向特 定对象发行人民币普通股（A 股）股票 6,896,551 股，发行价为每股人民币 29.00 元，共计募集资金 199,999,979.00 元，坐扣不含税承销和保荐费用 2,358,490.56 元（实际不含税保荐及承销费为 3,301,886.78 元，前期已预付不含 税保荐费 943,396.22 元）后的募集资金为 197,641,488.44 元，已由主承销商平 安证券股份有限公司于 2022 年 3 月 23 日汇入本公司募集资金监管账户。另扣 除律师费、审计费、发行登记费等其他发行费用（不含增值税）1,606,506.18 元 以及前期预付的不含税保荐费 943,396.22 元，公司本次募集资金净额为 195,091,586.04 元。上述募集资金到位情况业经天健会计师事务所（特殊普通合 伙）验证，并由其出 ...