海外及信创业务里程碑，AI 开启新时代。2024 年公司海外市场迈入新里程，全系产品全面出海，新签 订单近亿元规模，成功中标某跨国银行香港及国际分行新一代核心银行系统项目，创下公司历史上最大 单一软件订单纪录。信创方面，持续中标某国家部委累积近 1.3 亿元信创项目，数家大型央国企信创产 品服务项目。AI 方面，明确聚焦 AI 应用领域，构建了完整的大模型全栈服务体系，覆盖从算力层、基 础大模型层、应用基础能力层到业务场景能力层的各个关键环节。公司率先推出面向银行业务场景的 AI 一体机，通过"硬件+软件"一体化方式，为金融机构的业务场景赋能。 维持"强烈推荐"投资评级。预计25-27 年收入45.33/50.91/56.32 亿元，归母净利润4.44/5.40/6.17 亿元， 维持强烈推荐。 主业银行IT 收入承压、盈利能力提升。2024 年银行IT 收入34.61 亿元，YoY-25.78%；非银IT 收入3.71 亿元，YoY-1.98%；创新运营收入1.22 亿元，YoY-22.36%。毛利率方面，银行IT 毛利率28.10%，同比 提升4.73pct，主要得益于产品标准化程度提升、低码平台扩展至需 ...

投资者关系活动记录表 证券代码：300674 证券简称：宇信科技 北京宇信科技集团股份有限公司 投资者关系活动记录表 编号：2025-006 | 投资者关系活动 | 特定对象调研 | 分析师会议 | 媒体采访 | | | --- | --- | --- | --- | --- | | 类别 |  业绩说明会 | 新闻发布会 | 路演活动 | | | | 现场参观 | | 其他（券商策略会、电话会议） | | | | 机构名称 | 机构名称 | 机构名称 | 机构名称 | | | 太平国发(苏州) | 循远资管 | 德睿恒丰 | 鹏华基金 | | | 鸿竹资管 | 鸿运私募 | 九祥资管 | 美银证券 | | | 百川财富(北京) | 兴业银行 | RowPlant Capital 方正证券 | | | | 中泽控股 | 招商证券 | 华西证券 | 申万宏源 | | | 陆宝投资 | 峰辰资管 | 中汇守正 | 磐安资管 | | | 雅戈尔 | 中荷人寿 | 陆家嘴信托 | 摩根士丹利亚洲 | | | 中金公司 | 中电科投资 | 禾永投资 | 天风证券 | | | 富瑞金融 | 海通证券 | ...

Summary of Yuxin Technology Conference Call Company Overview - **Company**: Yuxin Technology - **Year Established**: 1999 - **Key Milestone**: 25th anniversary in 2024 Financial Performance - **Total Profit**: 391 million CNY in 2024, up 19.33% YoY [3][35] - **Gross Margin**: 29.02%, an increase of 3.08 percentage points YoY [3][35] - **Operating Cash Flow**: 941 million CNY, the highest in history, up 110% YoY [3][37] - **Net Profit**: Approximately 380 million CNY, up 16.6% YoY [5][37] - **Dividend**: Expected to distribute 178 million CNY to shareholders [3][39] Business Segments - **Bank IT Solutions**: Remains the primary revenue source with a gross margin increase of 4.8% [3][38] - **Non-Bank IT Solutions**: Revenue stable compared to last year, focusing on expanding into non-bank financial institutions [3][38] - **Innovative Business**: Maintains high gross margin characteristics despite some fluctuations [5][38] Client Base - **Major Clients**: Large commercial banks and joint-stock banks contribute 50% of revenue, indicating a focus on large asset clients [6][39] - **Client Satisfaction**: Improved operational efficiency and customer satisfaction reflected in reduced sales expense ratio and stable management expense ratio [7][39] Research and Development - **R&D Investment**: Maintained at approximately 11% of revenue, focusing on AI, data assets, and overseas expansion [9][40] - **AI Development**: Collaborations with major model companies, launching four application-level products and one development platform [10][44] Market Expansion - **Overseas Market**: New orders close to 100 million CNY from multinational banks, with plans to replicate domestic innovations abroad [3][4][36] - **Future Growth**: Expected revenue scale-up in the next 2-3 years through investment and acquisitions [25][60] Challenges and Opportunities - **Banking Sector**: Facing budget cuts and operational pressures, banks are expected to increase IT investments strategically [30][62] - **AI Integration**: Demand for AI capabilities is rising, particularly in business operations, though actual applications are still in the testing phase [50][51] Strategic Outlook - **2025 Focus**: Emphasis on AI technology development, innovative business expansion, and overseas market penetration [36][67] - **Listing Plans**: Preparing for a potential listing in Hong Kong to enhance business development and attract international talent [14][47] Conclusion Yuxin Technology has demonstrated resilience and growth in a challenging market environment, with a strong focus on innovation, client satisfaction, and strategic expansion into overseas markets. The company is well-positioned to leverage AI and technology advancements to drive future growth.

长江商报消息 中国金融科技服务领军企业宇信科技（300674.SZ）将扬帆征战海外。 3月30日晚间，宇信科技发布年报。2024年，公司实现营业收入39.58亿元，同比减少23.94%；归属于上 市公司股东的净利润（净利润，下同）3.8亿元，同比增长16.62%；扣除非经常性损益的净利润（扣非 净利润，下同）3.49亿元，同比增长10.48%。 长江商报记者注意到，尽管营收规模有所下降，但得益于公司主动优化业务结构、积极选择和管理项 目，实现项目、产品精细化管理，其运营效率取得了显著提升。2024年，宇信科技的综合毛利率达 29.02%，同比增加3.08个百分点。 不仅如此，报告期内，宇信科技实现经营活动产生的现金流量净额9.41亿元，较上年增加4.94亿元，同 比增长110.67%，创历史最高水平。 综合毛利率升至29.02% 资料显示，宇信科技主营业务为银行科技解决方案、非银科技解决方案、创新运营服务三大类，产品和 解决方案全面覆盖业务类、渠道类、运营类和管理类等，并始终保持在网络银行、信贷管理、商业智 能、风险管理和监管报送等多个细分解决方案领域的领先地位。 经过二十余年的发展，宇信科技已经为中国人民银 ...

Revenue and Profit - The total operating revenue of Yuxin Technology in 2024 was 3.958 billion yuan, a decrease of 23.94% compared to 5.204 billion yuan in 2023 [2] - Despite the revenue decline, the net profit attributable to shareholders reached 380 million yuan, an increase of 16.62% year-on-year [2] - The fourth quarter showed a total operating revenue of 1.607 billion yuan, down 25.2% year-on-year, while the net profit attributable to shareholders was 118 million yuan, a decrease of 29.2% [2] Profitability - The company's profitability improved, with a gross margin of 29.02%, an increase of 11.88% year-on-year [3] - The net profit margin was 9.71%, reflecting a significant increase of 53.04% year-on-year [3] Cash Flow and Asset Status - The net cash flow from operating activities was 941 million yuan, a year-on-year increase of 110.67%, indicating improved cash flow management [4] - The monetary funds amounted to 2.71 billion yuan, up 32.96% year-on-year, showing sufficient cash reserves [4] - Accounts receivable stood at 786 million yuan, a decrease of 32.67% year-on-year, with a ratio of accounts receivable to profit reaching 206.81%, necessitating close monitoring of collection [4] Costs and Expenses - Total sales, management, and financial expenses amounted to 372 million yuan, accounting for 9.39% of revenue, an increase of 9.85% year-on-year [5] - Sales expenses decreased by 23.21%, and financial expenses decreased by 155.96%, primarily due to reduced business entertainment expenses and increased interest income [5] R&D Investment and Innovation - The company's R&D investment was 434 million yuan, representing 10.95% of operating revenue [6] - Yuxin Technology continued to focus on AI technology development, launching an AI integrated machine and deepening cooperation with partners like Huawei and Tencent Cloud [6] Overseas Market and Innovative Operations - The company won multiple overseas projects, achieving significant progress in the Hong Kong-Macau region and the Indonesian market [7] - In innovative operations, Yuxin Technology made notable advancements in retail credit, platform business, financial ecosystem construction, and individual loan non-performing business [7]

3月30日，宇信科技(SZ300674)公告，为满足公司海外业务发展需要，推进公司海外战略布局，打造国际化资本运作平台，进一步提升品牌形象及知名度， 提高综合竞争力，经过充分研究论证，公司拟发行境外上市外资股（H股）股票并申请在香港联交所主板挂牌上市。 宇信科技表示，公司将充分考虑现有股东的利益和境内外资本市场的情况，在股东大会决议有效期内（即经公司股东大会审议通过之日起18个月或同意延长 的其他期限）选择适当的时机和发行窗口完成本次发行并上市。 同时，宇信科技发布了2024年年度报告，数据显示，宇信科技2024年全年营业收入达39.58亿元，同比减少23.94%；归母净利润3.80亿元，同比增长 16.62%。 拉长时间线来看，2021年至2023年，宇信科技营业收入分别37.26亿元、42.85亿元、52.04亿元；归母净利润3.96亿元、2.53亿元、3.26亿元。 宇信科技主营业务是银行科技解决方案，非银科技解决方案和创新运营服务。公司的主要产品是银行IT解决方案、非银IT解决方案、创新运营业务、其他业 务。 宇信科技实际控制人为洪卫东，持股26.17%。目前，其现任公司董事长、总经理。2024年，洪 ...

业绩简评 2025 年 3 月 30 日公司披露年报，24 年实现营收 39.58 亿元，同 比下降 23.94%；实现归母净利润 3.80 亿元，同比增长 16.62%； 扣非归母净利润 3.49 亿元，同比增长 10.48%；经营活动现金流净 额 9.41 亿元，同比增长 110.67%，达到历史最高水平。 经营分析 分业务来看，公司银行 IT 解决方案营收 34.61 亿元，同比下降 25.8%；非银 IT 解决方案营收 3.71 亿元，同比下降 2.0%。客户结 构进一步向大行及非银机构集中，国有大行、股份制和政策行贡 献营收 52.49%，非银机构、外资行等贡献营收 20.62%，中小银行 和 农 村 信 用 社 贡 献 营 收 26.89% ， 分 别 同 比 变 动 +1.45pct/5.61pct/-7.06pct。公司主动进行项目选择，银行 IT 毛利率达 28.10%，同比增长 4.73pct；综合毛利率 29.02%，同比 增长 3.08pct。 公司积极拓展非银及海外客户，24 年累计中标某国家部委 1.3 亿 元信创项目；25 年将具备证券交易所核心业务系统升级改造能力； 并与厦门资 ...

外资态度来看，本期较上一期持股增加的外资基金共计1个，即香港中央结算有限公司，持股增加占比 小幅上涨。本期较上一季度持股减少的外资基金共计1个，即PORT WING DEVELOPMENT COMPANY LIMITED，持股减少占比达0.21%。 2025年3月31日，宇信科技(300674.SZ)发布2024年年度报告。截至2025年3月30日，共有124个机构投资 者披露持有宇信科技A股股份，合计持股量达2.87亿股，占宇信科技总股本的40.72%。其中，前十大机 构投资者包括珠海宇琴鸿泰创业投资集团有限公司、PORT WING DEVELOPMENT COMPANY LIMITED、百度(中国)有限公司、北京宇信科技集团股份有限公司回购专用证券账户、香港中央结算有 限公司、招商银行股份有限公司-南方中证1000交易型开放式指数证券投资基金、中国建设银行股份有 限公司-华宝中证金融科技主题交易型开放式指数证券投资基金、广发中证1000ETF、万家中证1000指 数增强A、招商量化精选股票发起式A，前十大机构投资者合计持股比例达39.85%。相较于上一季度， 前十大机构持股比例合计下跌了0.53个百分点。 ...

Investment Rating - The report maintains a "Buy" rating for the company, expecting a price increase of over 15% in the next 6-12 months [5][13]. Core Insights - In 2024, the company achieved revenue of 3.958 billion RMB, a year-on-year decrease of 23.94%, while the net profit attributable to shareholders was 380 million RMB, an increase of 16.62% [2]. - The company is actively expanding its non-bank and overseas client base, securing significant projects and partnerships, including a 130 million RMB project with a national ministry and a joint venture with Xiamen Asset Management [3][4]. - The company has launched multiple AI Agent products, integrating AI technology into financial services, which has improved revenue and service levels for clients [4]. Financial Performance - The company forecasts revenues of 4.477 billion RMB, 4.998 billion RMB, and 5.510 billion RMB for 2025, 2026, and 2027, respectively, with year-on-year growth rates of 13.12%, 11.63%, and 10.23% [5][10]. - The projected net profit for the same years is 454 million RMB, 536 million RMB, and 612 million RMB, with growth rates of 19.54%, 18.00%, and 14.21% [5][10]. - The operating cash flow reached a historical high of 941 million RMB in 2024, reflecting a significant year-on-year increase of 110.67% [2]. Business Segmentation - Revenue from bank IT solutions was 3.461 billion RMB, down 25.8% year-on-year, while non-bank IT solutions generated 371 million RMB, a decrease of 2.0% [3]. - The customer base is increasingly concentrated among large state-owned banks and non-bank institutions, with contributions of 52.49% from major banks and 20.62% from non-bank institutions [3]. Profitability Metrics - The gross margin for bank IT solutions improved to 28.10%, an increase of 4.73 percentage points year-on-year, while the overall gross margin reached 29.02%, up 3.08 percentage points [3]. - The diluted earnings per share are projected to be 0.645 RMB, 0.761 RMB, and 0.869 RMB for 2025, 2026, and 2027, respectively [10]. Market Positioning - The company is enhancing its capabilities in securities exchange core business system upgrades and has made strides in international markets, including securing contracts with multinational banks [3][4]. - The integration of AI technology into various business scenarios is expected to further strengthen the company's market position and operational efficiency [4].

2、多只龙头宽基ETF披露2024年年报，中央汇金的持仓动向随之曝光。以持有ETF总市值计算， 截至2024年末，中央汇金投资有限责任公司持有ETF总 市值为6616.97亿元，中央汇金资产管理有限责任公司持有ETF总市值为3821.84亿元，两家公司合计持有ETF总市值突破万亿元。 3、银行消费贷利率或将迎来重要变化。 部分股份行、国有大行地方分行人士透露，接到总行通知称，消费贷利率4月起上调，3%以下产品或被叫停。 今 年消费贷市场竞争激烈，个别银行产品利率低至2.4%，近期多家银行密集跟进政策举措，"松绑"相应消费贷产品。 // 热点聚焦 // 1、 交通银行、中国银行、建设银行和邮储银行齐齐发布公告称，董事会通过了向特定对象发行A股股票的议案，并对外发布关于财政部战略投资该行的 公告。财政部将以现金方式认购中国银行、建设银行全部新发行股份，并包揽交通银行、邮储银行超过九成的新发行股份，合计出资规模达5000亿元。 四家银行此番集中公告意味着财政部发行特别国债补充大行资本落地在即。交行特别指出，本次发行完成后，财政部持股比例超过30%，将成为该行控股 股东。而在本次发行完成前，交行无控股股东、实际控制人 ...