Core Viewpoint - The recent developments in the cross-border payment system, particularly the enhancement of the CIPS and the promotion of digital trade, are expected to create new growth opportunities for the cross-border payment industry [4][5]. Group 1: Market Performance - As of April 25, 2025, the China Securities Financial Technology Theme Index (930986) increased by 0.80%, with notable gains in constituent stocks such as Hengbao Co., Ltd. (10.00%) and Guiding Compass (5.97%) [3]. - The Financial Technology ETF (516860) rose by 0.69%, with a latest price of 1.17 yuan and a turnover rate of 4.31% during the trading session, amounting to 36.17 million yuan in transactions [3]. - Over the past year, the Financial Technology ETF has achieved an average daily transaction volume of 72.95 million yuan [3]. Group 2: Policy and Industry Outlook - The People's Bank of China and other departments have proposed enhancing the functionality and global coverage of the CIPS, aiming to encourage more banks to join the system [3]. - The State Council's strategy to implement a free trade pilot zone is expected to promote high-level opening-up, which will support the cross-border payment industry [3][4]. Group 3: Financial Technology ETF Performance - The Financial Technology ETF has seen a net value increase of 55.68% over the past year, ranking first among comparable funds [5]. - The ETF's highest monthly return since inception was 55.92%, with an average monthly return of 10.57% [5]. - The ETF's management fee is 0.50%, and its tracking error is 0.043%, indicating high tracking precision compared to similar funds [5]. Group 4: Top Holdings - As of March 31, 2025, the top ten weighted stocks in the China Securities Financial Technology Theme Index accounted for 54.32% of the index, with stocks like Tonghuashun and Dongfang Caifu being the most significant [6][8].

@ JIN10.COM 金十数据 | 一个交易工具 | 25 | | 唯品会 | 66.57 | | | --- | --- | --- | --- | --- | | 26 | માં છે. | 好未来 | 66.49 | | | 27 | | 金山软件 | 64.83 | | | 28 | | 用友网络 | 63.43 | | | 29 | | 同程旅行 | 61.83 | | | 30 | | 奇富科技 | 55.03 | 1 ↑ | | 31 | | 金蝶国际 | 54.3 | -1 1 | | 32 | | 柏楚电子 M | 53.93 | | | 33 | Horoun | 润和软件 | 53.74 | | | 34 | | 中国软件 | 51.28 | | | 35 | KUNLUN | 昆仑万维 | 51.2 | 11 | | 36 | | 深信服 | 50.87 | -1 1 | | 37 | 2) | 三七互娱 | 48.37 | 1 1 | | 38 | | 拓维信息 | 48.03 | -1 | | 39 | | 恺英网络 | 47.5 | | | 40 | | 万国数据 | 45. ...

Group 1: Key Insights from the Reports - The report highlights a downward adjustment in valuations across various sectors, with industrial parks and logistics facing significant pressure, while public utilities and consumer sectors show relative stability [9][10]. - The report indicates that securities proprietary trading is the largest institutional investor increasing REITs holdings in the second half of 2024, reflecting a shift in investment behavior [10]. - The report emphasizes the importance of understanding REITs valuation changes through detailed annual reports, which provide insights into operational details and asset valuation adjustments [9]. Group 2: Company-Specific Insights - The report on Keda Xunfei (002230.SZ) indicates a strong revenue growth of 18.79% year-on-year, with projected net profits for 2025-2027 being 828 million yuan, 1.086 billion yuan, and 1.434 billion yuan respectively, reflecting a positive outlook for the company [11][17]. - Keda Xunfei's revenue structure shows significant growth in AI applications, with the education sector achieving 7.229 billion yuan in revenue, a 29.94% increase, and enterprise AI solutions growing by 122.56% [14][16]. - The report on Anjisi (688581.SH) reveals a robust domestic growth of 14.63% and an impressive overseas revenue increase of 36.19%, with a total revenue of 6.37 billion yuan for 2024 [20][21]. Group 3: Industry Trends - The semiconductor display industry is experiencing a positive shift in supply-demand dynamics, with BOE Technology Group (000725.SZ) reporting a revenue increase of 13.66% and a net profit growth of 108.97% for 2024 [26][28]. - The report indicates that the medical device industry, particularly in cardiovascular interventions, is poised for growth, with significant revenue increases in both electrophysiology and vascular intervention products [36][40]. - The software industry, particularly in CAD solutions, is expanding its ecosystem, with a reported revenue growth of 7.31% for Zhongwang Software (688083.SH) in 2024, driven by a focus on key customer needs and technological advancements [30][34].

点击上方"公众号"可订阅哦！ 兴业证券计算机小组 蒋佳霖/孙乾/ 杨本鸿/ 陈鑫/张旭光/杨海盟/桂杨 数据来源:Wind,兴业证券经济与金融研究院整理 图 2、计算机行业的标准配置比例 4. 98 4. 58% 5% 3. 86% . 57% 4 4. 11% 3. 57% 4. 18% 4. 04% 3. 36% 56% 3. 54% 23% 4% 3. 3.52% 3, 2. 919 2. 86! 3.09 2. 68% 2- 71 67% 3% 2. 19% 2. 29% 2. 60% 2. 50% 2. 08% 1_38% 1. 65% 2% 1.4 1. 44% 1. 36% 1. 29% 1% 14% 13. 36% 11. 52% 12% 11. 30% 10% 8. 97% 8. 84% 7. 88% 7.72% 8% 7. 50% 6. 3 6. 75% 6. 119 6. 51% 696 4. 67% 5. 00% 4. 80% 4. 35% 4. 8RW 01% 4 496 4. 29% 4. 44% 3.64% A 149 3.78% 3.19% 3. 24% 2. 72% 2. 6 ...

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].

Group 1 - The company held its first meeting of the ninth supervisory board on April 22, 2025, where the election of Ms. Tu Haiyan as the chairperson of the supervisory board was unanimously approved [2][4]. - The first meeting of the ninth board of directors was also held on April 22, 2025, where Mr. Peng Zhengang was elected as the chairman, and Mr. Fan Jingwu was elected as the vice chairman, both with unanimous support [5][6]. - The board also elected members and chairs for various committees, including the audit committee, compensation and assessment committee, strategic investment committee, nomination committee, and sustainable development committee [6][7]. Group 2 - The company announced a share repurchase plan with a total amount not less than RMB 20 million and not exceeding RMB 40 million, with a maximum repurchase price of RMB 44.38 per share [24][25]. - The repurchase will be conducted through centralized bidding transactions within six months from the approval date of the plan [26][27]. - The purpose of the repurchase is to enhance shareholder value and maintain the company's stock price in line with its intrinsic value, with the repurchased shares to be canceled and the registered capital reduced accordingly [31][32]. Group 3 - The company held its 2024 annual general meeting on April 22, 2025, where several key resolutions were passed, including the approval of the 2024 annual report and the financial settlement report [19][20]. - The registered capital was reduced from RMB 1,894,144,775 to RMB 1,891,767,475 following the approval of the share repurchase plan [49]. - The company has notified creditors of the capital reduction and provided a 45-day period for them to claim their debts [51].

Core Viewpoint - The G60 Strategic Emerging Industries Index in A-shares has shown mixed performance, with a recent decline of 0.54% and a monthly drop of 4.70%, while it has increased by 0.02% over the past three months [1] Group 1: Index Performance - The G60 Index closed at 914.89 points with a trading volume of 15.257 billion [1] - The index reflects the overall performance of up to 50 largest strategic emerging industry companies listed in the Shanghai market from the Yangtze River Delta G60 cities [1] Group 2: Index Composition - The top ten weighted companies in the G60 Index include: Jianghuai Automobile (9.43%), Huayou Cobalt (7.14%), Hengsheng Electronics (6.17%), Zhongkong Technology (4.79%), Hengtong Optic-Electric (4.73%), Silan Microelectronics (4.55%), China Jushi (4.51%), Naxin Micro (3.21%), Zejing Pharmaceutical (3.14%), and Jingfang Technology (2.84%) [1] - The index is fully composed of companies listed on the Shanghai Stock Exchange [1] Group 3: Industry Breakdown - The industry composition of the index shows that Industrial sector accounts for 35.49%, Information Technology for 31.15%, Materials for 14.14%, Healthcare for 9.74%, and Communication Services for 9.49% [2] Group 4: Index Adjustment - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [2] - Weight factors are generally fixed until the next scheduled adjustment, with special circumstances allowing for temporary adjustments [2] Group 5: Tracking Funds - Public funds tracking the G60 Index include the Shenwan Hongyuan G60 Strategic Emerging Industries ETF [3]

证券代码：600570 证券简称：恒生电子 编号：2025-026 恒生电子股份有限公司 恒生电子股份有限公司 关于减少注册资本通知债权人的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、通知债权人的原由 （1）恒生电子股份有限公司（以下简称"公司"）于 2025 年 4 月 22 日召开 了 2024 年年度股东大会，审议通过了《关于减少公司注册资本并修订<公司章程> 的议案》。公司总股本从 1,894,144,775 股变更为 1,891,767,475 股，公司注册资本 由人民币 1,894,144,775 元变更为人民币 1,891,767,475 元。 （2）公司于 2025 年 4 月 22 日召开了 2024 年年度股东大会，逐项审议通过 了《关于以集中竞价交易方式回购股份方案的议案》。根据本次回购方案，公司 将自公司股东大会审议通过回购股份方案之日起 6 个月内，以集中竞价交易方式 回购公司股份，回购股份资金总额为不低于人民币 2000 万元且不超过人民币 4000 万元（含）。回购价格为不超过人民币 ...

证券代码：600570 证券简称：恒生电子 公告编号：2025-023 恒生电子股份有限公司 2024年年度股东大会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 4 月 22 日 (二)股东大会召开的地点：杭州市滨江区滨兴路 1888 号数智恒生中心会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 1,089 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 568,499,314 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 30.0951 | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议由公司董事会召集，采取现场和网络投票相结合的方式召开，董事 长刘曙峰先生主持了本次会议。现场会议采取记名投票表决的方式。本次会议的 召集、召开及 ...

恒生电子股份有限公司 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 恒生电子股份有限公司（以下称"公司"或"恒生电子"）第九届监事会第 一次会议于 2025 年 4 月 22 日以现场结合通讯表决的方式召开，应参与表决监事 3 名，实际参与表决监事 3 名。根据《公司法》和公司《章程》有关规定，会议 合法有效。 会议经全体监事讨论和表决，通过以下决议： 一、选举屠海雁女士为公司监事长。同意 3 票；弃权 0 票；反对 0 票。 证券代码：600570 证券简称： 恒生电子 公告编号：2025-025 恒生电子股份有限公司 第九届监事会第一次会议决议公告 特此公告。 恒生电子股份有限公司 2025 年 4 月 23 日 ...