Yusys Technologies(SZ:300674) Ge Long Hui·2025-06-27 10:02Group 1 - The recent surge in interest for stablecoins has created a common growth point for Hong Kong, US, and A-shares [1] - Circle, known as the "first stablecoin stock," went public on June 5, and its stock price increased sevenfold within a few trading days [2] - Following this, Guotai Junan International announced it received a virtual asset license, leading to a 198% stock price increase the next day [2] Group 2 - Beijing Yuxin Technology Group Co., Ltd. is pursuing an IPO in Hong Kong, having submitted its prospectus on June 18 [3] - The company aims to enhance its global strategy and accelerate overseas business development, with a current market capitalization of approximately 19.5 billion RMB [3] - Yuxin Technology is a fintech solution provider, claiming a 100% penetration rate among major Chinese banks [6][15] Group 3 - Yuxin Technology's revenue sources include bank technology solutions, non-bank technology solutions, and innovative operational services [7] - The revenue from bank technology solutions for 2022, 2023, and 2024 was 37.55 billion RMB, 46.64 billion RMB, and 34.61 billion RMB, respectively [10] - The company has experienced revenue fluctuations, with total revenues of 42.81 billion RMB, 51.99 billion RMB, and 39.54 billion RMB over the past three years [12] Group 4 - The fintech solutions market in China is projected to grow from 152 billion RMB in 2023 to 235.5 billion RMB in 2024, with a compound annual growth rate of approximately 11.6% [22] - Yuxin Technology holds a 2.1% market share in the bank technology solutions sector, making it the largest listed provider in this segment [27] - The competitive landscape includes major players such as Changliang Technology and Hangseng Electronics, with Yuxin Technology maintaining its leading position for three consecutive years [27]