Dividend Distribution - The company plans to distribute a cash dividend of 2.00 yuan per 10 shares to all shareholders, based on a total of 788,082,442 shares [5]. - The company has not proposed any stock bonus distribution, indicating a focus on cash dividends instead [5]. - The company has distributed cash dividends of 8.00 billion, 7.80 billion, 4.00 billion, and 3.20 billion in 2019, 2020, 2023, and the first half of 2024 respectively, totaling over 23 billion since its listing [104]. - The company approved a cash dividend distribution plan for the 2023 fiscal year, distributing RMB 5 per 10 shares, totaling RMB 400,009,971.00, which was implemented on June 7, 2024 [168]. - For the first half of 2024, the company approved a cash dividend of RMB 4 per 10 shares, amounting to RMB 320,007,976.80, implemented on September 6, 2024 [169]. - The total cash dividend for the reporting period was RMB 157,616,488.40, representing 100% of the distributable profit [170]. - Cash dividends should account for at least 30% of the average annual distributable profit over the last three years [159]. - The company aims to ensure that shareholders receive continuous cash dividends, especially when profitability improves [166]. Financial Performance - The company's operating revenue for 2024 was approximately ¥5.76 billion, a decrease of 2.96% compared to ¥5.93 billion in 2023 [25]. - The net profit attributable to shareholders for 2024 was approximately ¥351.20 million, down 23.26% from ¥457.66 million in 2023 [25]. - The basic earnings per share for 2024 was ¥0.45, a decrease of 23.73% from ¥0.59 in 2023 [25]. - Total assets at the end of 2024 were approximately ¥10.47 billion, a decline of 14.64% from ¥12.26 billion at the end of 2023 [25]. - The net assets attributable to shareholders at the end of 2024 were approximately ¥3.39 billion, down 9.55% from ¥3.75 billion at the end of 2023 [25]. - The company reported a quarterly revenue of approximately ¥1.49 billion in Q1 2024, with a slight decline in subsequent quarters [27]. - The company experienced a net loss of approximately ¥161.64 million in Q4 2024, contrasting with positive net profits in the first three quarters [27]. - The company’s weighted average return on equity for 2024 was 9.64%, down from 12.89% in 2023 [25]. - The company’s net profit attributable to shareholders decreased by 23.26% year-on-year to CNY 3.51 billion, primarily due to high investment income in the previous year [51]. Risk Management - The company emphasizes the importance of risk awareness regarding future development strategies and operational plans, which are subject to market conditions and uncertainties [4]. - The company has detailed potential risk factors and countermeasures in the report, particularly in the section on future development outlook [4]. - The company has established a comprehensive risk control process to mitigate industry policy risks, ensuring compliance with regulatory requirements [93]. - The company recognizes market competition risks and is focused on maintaining its competitive advantages in brand recognition, channel networks, and technological capabilities [94]. - The company has developed a mature merchant management and risk monitoring system to address potential risks associated with merchant expansion and management [97]. Technology and Innovation - The company has introduced AI and blockchain technologies to enhance its financial technology services, targeting small and micro enterprises [41]. - The company has developed a self-research digital service platform to help small and micro enterprises establish digital credit recognized by financial institutions [42]. - The company is focused on integrating AI capabilities into its operations to improve efficiency and enhance customer service in the digital payment landscape [36]. - The company completed the development and launched a new generation of payment SaaS systems, enhancing system stability and disaster recovery capabilities [68]. - The company has developed a digital RMB payment settlement platform, significantly reducing the time for opening digital currency services from 2-3 days to seconds [70]. Market Expansion - The company is expected to continue its market expansion efforts, although specific figures and targets are not disclosed in the provided content [4]. - The company is actively expanding its market presence in the cross-border payment sector, driven by the increasing demand for foreign card payment acceptance [36]. - The company achieved a total payment transaction amount of CNY 4.22 trillion in 2024, with card transactions at CNY 2.86 trillion and QR code transactions at CNY 1.36 trillion, maintaining industry-leading market share [48]. - The company’s cross-border payment network covers over 100 countries, providing one-stop cross-border fund services for import and export enterprises [39]. Corporate Governance - The company has established a robust internal governance structure, ensuring compliance with relevant laws and regulations, and maintaining a clear division of responsibilities among its governing bodies [109]. - The company maintains independence from major shareholders, ensuring complete autonomy in its operations and management [116]. - The company has a clear governance structure with independent directors and supervisors, ensuring accountability [124]. - The company has established an independent financial department with a complete financial accounting system, ensuring independent financial decision-making [119]. - The company has committed to not engaging in any business that competes with its own, as per agreements with major shareholders [121]. Employee and Social Responsibility - The total number of employees at the end of the reporting period is 1,926, with 1,067 in sales, 482 in R&D, 104 in management, and 273 in other professional roles [152]. - The company has conducted five energy-saving promotional activities in 2024 to enhance employee awareness of energy conservation [182]. - The company donated a total of 15.5 million yuan in 2024, including 10 million yuan to the Zhongshan Boai Foundation and 5 million yuan to Peking University for educational support [185]. - The company has cumulatively donated 40 million yuan to various charitable causes since its establishment [185]. - The company is actively promoting consumption poverty alleviation by encouraging employees to support local agricultural products [186]. Financial Reporting and Compliance - The report highlights the company's commitment to maintaining accurate and complete financial reporting, as stated by the management team [4]. - The internal control evaluation report indicates no significant defects in financial reporting, with a standard unqualified opinion from the auditing firm [180]. - The company confirmed that the prospectus for the public offering does not contain false records, misleading statements, or major omissions, and it assumes legal responsibility for its authenticity, accuracy, and completeness [200]. - The company will accept supervision from regulatory authorities and the public regarding its commitments [199].

拉卡拉：一季度净利润同比下降51.71% 智通财经4月24日电，拉卡拉(300773.SZ)发布2025年第一季度报告，营业收入12.99亿元，同比减少 13.01%，归属上市公司股东净利润1.01亿元，同比下降51.71%。报告期内，受季节性因素、春节长假及 行业整体承压的影响，公司支付交易金额9820亿元，同比下降了10.51%。 ...

拉卡拉（300773）公告，2024年营业收入57.59亿元，同比下降2.96%。归属于上市公司股东的净利润 3.51亿元，同比下降23.26%。公司拟向全体股东每10股派发现金红利2元(含税)，送红股0股(含税)，以 资本公积金向全体股东每10股转增0股。 ...

Market Overview - The overall market sentiment is low, with the Shanghai Composite Index closing up 0.03%, while the Shenzhen Component and ChiNext Index fell by 0.58% and 0.68% respectively, with over 3,600 stocks declining and more than 1,500 stocks rising [3] Cross-Border Payment Sector - The cross-border payment sector experienced a strong opening on Monday, driven by a favorable policy announcement from the central bank and other departments regarding the enhancement of the CIPS system [6][7] - On Wednesday, the sector saw a spike due to a scheduled press conference by the central bank to discuss the same policy, which led to a temporary surge in stocks like Huafeng Super Fiber, which rose over 15% [7][9] - However, the sector closed down 3.58% after a series of ups and downs, indicating a lack of sustained momentum [9] Pet Economy Sector - The pet economy sector opened strong, with stocks like Zhongchong Co., Tianyuan Pet, and Yiyi Co. hitting the daily limit, while others like Guibao Pet and Ketaobiotech rose over 10% [12][13] - The sector ultimately closed up over 5%, driven by the recent success of the "Traini Dog Language Translator" and strong earnings reports from Zhongchong Co. [14][16] Performance of Specific Stocks - Stocks like Lakala and Xinyada saw declines of over 10%, while only Hailian Jinhui managed to maintain a four-day limit-up streak amidst a broader market downturn [8] - The performance of stocks in the pet economy and cross-border payment sectors reflects a trend of short-lived rallies followed by corrections [16] Earnings Disappointments - Several companies are facing significant earnings-related issues, with Baoying Co. and Jiangsu Wuzhong both facing potential ST status due to negative earnings revisions and disclosure violations [22][24] - Jinlitai's inability to disclose its periodic report on time has led to a 20% limit down, despite previous positive earnings forecasts [24][26]

分行业看，今日换手率超20%的个股中，所属基础化工行业个股最多，有6只个股上榜；计算机、汽车 等紧随其后，分别有5只、4只个股上榜。 交易所公开信息显示，今日高换手率创业板股共有8只上榜龙虎榜，买卖居前营业部中，有7股出现机构 身影，恒勃股份有3家机构专用席位上榜，合计净买入3462.25万元，新铝时代有2家机构专用席位上 榜，合计净买入2005.85万元，金凯生科有1家机构专用席位上榜，合计净买入977.19万元，新瀚新材有3 家机构专用席位上榜，合计净买入936.57万元，久祺股份有4家机构专用席位上榜，合计净买入479.44万 元，深股通现身1股龙虎榜，新铝时代获深股通净买入1302.83万元，营业部净买入居前的有天元宠物、 新瀚新材、金凯生科，净买入金额分别为7329.19万元、5686.28万元、3666.89万元，营业部净卖出居前 的是恒勃股份、新铝时代、新天地，净卖出金额分别为6573.16万元、3634.01万元、489.75万元。 资金流向方面，高换手率个股中，有11股今日获主力资金净流入，净流入金额较多的有金凯生科、飞天 诚信、新瀚新材，净流入金额分别为1.37亿元、9893.16万元、9 ...

资金面上看，今日数字货币概念板块获主力资金净流出31.25亿元，其中，72股获主力资金净流出，11 股主力资金净流出超亿元，净流出资金居首的是拉卡拉，今日主力资金净流出4.71亿元，净流出资金居 前的还有保税科技、紫光国微、海南华铁等，主力资金分别净流出2.00亿元、1.64亿元、1.62亿元。今 日主力资金净流入居前的概念股有飞天诚信、新晨科技、ST证通等，主力资金分别净流入9893.16万 元、2393.55万元、598.31万元。（数据宝） 数字货币概念资金流出榜 截至4月24日收盘，数字货币概念下跌3.10%，位居概念板块跌幅榜前列，板块内，ST中装跌停，拉卡 拉、新国都、新开普等跌幅居前，股价上涨的有7只，涨幅居前的有海联金汇、新晨科技、飞天诚信 等，分别上涨9.95%、8.35%、7.33%。 | 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 300773 | 拉卡拉 | -11.06 | 26.04 | -47146.63 | | 600794 | 保税科技 | 3.00 | 29.7 ...

智通财经4月24日电，午后拉卡拉跌超10%，信雅达逼近跌停，新国都、中亦科技、吉大正元、宇信科 技、四方精创均跌逾5%。 跨境支付概念持续走弱 拉卡拉跌超10% ...

新华财经上海4月23日电 受益于政策利好，A股跨境支付概念股本周大幅上扬。 其中，拉卡拉（300773.SZ）三日内涨超47%，成交额急剧放大，总市值重回200亿元上方。 拉卡拉曾在投资者互动平台表示，公司跨境支付业务主要通过合作银行接入CIPS、SWIFT等系统来实现跨境人民币及跨境外币的结算。 政策利好推动跨境支付概念成短期热点 跨境支付概念股短期爆发，主要受政策面利好推动。 4月21日，中国人民银行 、金融监管总局、国家外汇局、上海市人民政府联合印发《上海国际金融中心进一步提升跨境金融服务便利化行动方案》。其中指 出，提升人民币跨境支付系统（CIPS）功能和全球网络覆盖。跨境清算公司增强与金融机构协同联动，共同提升对"走出去"企业的服务水平。推动更多银行 加入CIPS，持续扩大CIPS网络覆盖范围。加强CIPS建设，完善系统功能，研究推动区块链技术应用，为人民币计价的全球贸易、航运及投融资提供安全高 效的结算清算服务。 中银证券研报指出，"对等关税"政策可能推动全球跨境支付从全球化向区域化转型，从而促进支付体系的多元化，一定程度上加速了人民币跨境支付系统的 发展。 此外，中国跨境电商如敦煌网、阿里国际站 ...

Focus Events - The International Monetary Fund (IMF) has revised the global economic growth forecast for 2025 down to 2.8% from an earlier estimate of 3.3%, primarily due to the abrupt changes in U.S. tariff policies and the resulting high policy uncertainty [1] - The Shanghai Stock Exchange held a special training session on market value management for nearly 50 state-owned enterprises, focusing on guidelines from the China Securities Regulatory Commission [1] Macro News - The State Administration of Foreign Exchange emphasized the need to correct market pro-cyclical behaviors to prevent excessive exchange rate fluctuations, highlighting the recent volatility in the international financial market due to U.S. unilateralism and protectionism [2] Industry Dynamics - In the first quarter, China's equipment manufacturing industry saw a year-on-year increase in added value of 10.9%, contributing 3.5 percentage points to overall industrial production growth, with nearly 70% of key products experiencing production growth [3] - High-tech manufacturing added value grew by 9.7% year-on-year, with significant growth in sectors such as fiber optics, aerospace equipment, and integrated circuit manufacturing, all exceeding 20% [4] - A medium-sized gold mine was discovered in Hami, Xinjiang, with proven reserves of 5.8 tons, meeting the criteria for a medium-sized mine [5] Company Focus - BYD announced a profit distribution plan for 2024, proposing a cash dividend of RMB 39.74 per 10 shares and a stock bonus of 8 shares plus a capital reserve conversion of 12 shares for every 10 shares held, totaling approximately RMB 120.77 billion in cash dividends [10] - Huawei launched the industry's first all-liquid-cooled megawatt-level supercharger, which can output 2400A continuously and charge approximately 20 kWh in one minute [7] - China Mobile reported a 3.5% year-on-year increase in net profit for the first quarter, with total revenue of RMB 263.8 billion, remaining stable compared to the previous year [19] - ZTE Corporation's net profit for the first quarter decreased by 11% year-on-year, with revenue of RMB 32.968 billion, reflecting a 7.82% increase [20] - Pop Mart announced a revenue growth of 165% to 170% year-on-year for the first quarter, with domestic revenue increasing by 95% to 100% and overseas revenue soaring by 475% to 480% [21] - Xinlei Co. reported a staggering 3015% year-on-year increase in net profit for the first quarter, attributed to the recognition of relocation gains [23] - Zhonghong Medical's first-quarter net profit surged by 1370% year-on-year, with revenue of RMB 629 million, marking a 15.45% increase [24]

Core Viewpoint - The financial technology sector is experiencing significant growth, driven by favorable policies and increasing investments, as evidenced by the performance of the China Securities Financial Technology Theme Index and related ETFs [3][4]. Group 1: Market Performance - As of April 23, 2025, the China Securities Financial Technology Theme Index rose by 2.17%, with notable increases in constituent stocks such as New Morning Technology (up 19.99%) and Lakala (up 14.79%) [3]. - The Financial Technology ETF (516860) also saw a rise of 2.19%, marking its fourth consecutive increase, with a latest price of 1.21 yuan [3]. - The ETF recorded a turnover rate of 3.18% and a transaction volume of 26.91 million yuan during the trading session [3]. Group 2: Policy and Industry Outlook - The National Development and Reform Commission and the National Bureau of Statistics have issued key work points for the development of the digital economy and society by 2025, which are expected to accelerate the digital transformation and intelligent upgrade of industries in China [3]. - Longjiang Securities suggests focusing on companies with data resources or capabilities in data product development, particularly those that have gained advantages in sectors like healthcare, finance, and education [3]. Group 3: ETF Performance Metrics - The Financial Technology ETF has shown a net value increase of 63.28% over the past year, ranking first among comparable funds [4]. - Since its inception, the ETF has achieved a maximum monthly return of 55.92% and an average monthly return of 10.57%, with a historical three-year profit probability of 96.38% [4]. - The ETF's management fee is 0.50%, and the custody fee is 0.10%, making it one of the lowest in its category [4]. Group 4: Tracking Accuracy and Major Holdings - The Financial Technology ETF has the highest tracking accuracy among comparable funds, with a tracking error of 0.043% year-to-date [5]. - As of March 31, 2025, the top ten weighted stocks in the index accounted for 54.32% of the total, with stocks like Tonghuashun and Dongfang Caifu being the most significant contributors [5].