Group 1: Revenue and Business Strategy - The company's overseas business revenue accounted for a significant portion of total revenue in 2024, with plans to deepen cooperation with existing overseas clients and expand new customer resources [2] - In 2025, the company aims to actively expand its business, particularly in overseas markets, leveraging opportunities from the digital transformation of banks and focusing on new customer development and product innovation [3] - The company has a strong technical capability in digital currency and cross-border payment, with plans to capitalize on the Hong Kong government's support for fintech development [3] Group 2: Technology and Innovation - The company has been involved in the mBridge project since 2020, providing technical consulting and support, and plans to continue its involvement in the next phases of the project [4] - The company has launched and upgraded the FINNOSafe platform in 2023, which supports various functions related to virtual assets, enhancing its technical capabilities [4] - The company is committed to supporting multiple Central Bank Digital Currency (CBDC) projects, including mBridge and e-HKD, and aims to leverage its first-mover advantage in these areas [4] Group 3: Cost Management and Efficiency - The management plans to continue fine-tuning project management and strictly control operating costs to achieve cost reduction in 2025 [4] - The company emphasizes the importance of financial expense management and labor cost control as part of its strategy to maintain cost advantages [4]

Core Insights - The financial technology sector is experiencing a new wave of development opportunities driven by strong policy support, including a recent announcement from the central bank to increase the re-lending quota for technological innovation and transformation by 300 billion yuan, bringing the total to 800 billion yuan [1][2] - Financial technology stocks showed mixed performance, with some stocks like Kela Software and Runhe Software seeing significant gains, while others like Donghua Software and Newland experienced declines [1][2] - The financial technology ETF (516860) has seen a cumulative increase of over 62% in the past year, indicating strong market interest [1] Financial Performance - Financial IT companies are witnessing a surge in order volumes, with notable performances from companies like Tonghuashun, which reported a net profit of 120 million yuan, up 16% year-on-year, and Dongfang Caifu, with a net profit of 2.72 billion yuan, up 39% [2] - The net profit of Guiding Compass skyrocketed by 726% year-on-year, primarily due to the explosion of AI advisory services [2] - The financial technology sector is entering a performance realization phase, supported by the integration of AI technology to optimize cost structures and enhance service efficiency [2] Market Trends - The internationalization of the RMB and the expansion of digital RMB trials are creating significant growth opportunities for financial technology, with cross-border RMB settlement amounts reaching 16 trillion yuan in 2024, a year-on-year increase of over 15% [2] - The financial technology index's dynamic PE is currently at 28 times, below the median of the past five years, indicating a favorable valuation compared to other sectors like AI chips, which have a PE of 45 times [5] - Leading companies such as Hengsheng Electronics and Dongfang Caifu have PEs below 30 times, highlighting their attractive value proposition in terms of performance certainty and growth potential [5] Investment Strategy - The financial technology ETF (516860) is positioned as a core tool for investors looking to capitalize on the high growth and AI technology barriers within the financial technology sector [6] - Investors are advised to focus on earnings realization during the earnings season, technological breakthroughs, and capital flows, with a strategy of buying on dips to capture the long-term benefits of "AI + finance" [6]

Group 1 - The core viewpoint is that the A-share market is still in a bull market despite perceptions to the contrary, as indicated by the current credit cycle phase [2][3][5] - The current phase is identified as "tight monetary + loose credit," which has been ongoing for three years, leading to a bull market in bonds and a potential for stock market growth [5][6] - Evidence of a shift towards a loose credit cycle includes government policies aimed at increasing liquidity in the economy, such as lowering consumer loan rates and facilitating low-interest loans for technology companies [6][7] Group 2 - The bull market does not imply that all stocks will rise uniformly; historical examples show that even in bullish conditions, a significant percentage of stocks can decline [9] - Institutions have better access to information and resources compared to retail investors, making their stock selections more reliable [9][11] - Monitoring institutional trading behavior is crucial for identifying potential investment opportunities, as active institutional inventory data correlates with stock price performance [11]

Group 1 - The stock market in April saw significant interest in sectors such as commercial retail, epoxy propylene, and electric power, with notable gains from companies like United Chemical, Guofang Group, and Hongbaoli, which recorded increases of 159%, 117%, and 104% respectively [1][3] - The 58th session of the stock simulation competition concluded with the champion "Every Economic Netizen 84493" achieving a return of 45.25%, followed by "Every Economic Netizen 70369" at 34.47%, and "Bayi Ge Longhu Bang" at 30.88% [1] - The top performers in the monthly points ranking included "Meigongdao" with 14 points, "Xiaoxiaotiangang" with 11 points, and "Every Economic Netizen 84493" with 10 points [1] Group 2 - The 59th session of the competition will start registration from May 1 to May 16, with the competition running from May 6 to May 16, offering a simulated trading environment with a virtual capital of 500,000 yuan [2][7] - Cash rewards for the competition include 688 yuan for the first place, 188 yuan for the second to fourth places, and 88 yuan for the fifth to tenth places, with additional rewards for participants achieving positive returns [2][7] - Monthly points rewards will be distributed, with the first place receiving 888 yuan, and subsequent places receiving varying amounts based on their rankings [2][8] Group 3 - The market experienced increased volatility due to the impact of "reciprocal tariffs," leading to a divergence in market performance [3][6] - Notable strategies from successful participants included focusing on stocks with strong upward momentum, such as United Chemical, which saw a 159% increase in April [3][6] - Participants are advised to consider long-term investment sectors with solid fundamentals, such as banking and infrastructure, as these are expected to yield better returns compared to speculative trading [6]

Market News - US stock indices collectively rose, with the Dow Jones up 0.75%, S&P 500 up 0.58%, and Nasdaq up 0.55%. Major tech stocks mostly increased, with Tesla rising over 2% and Netflix over 1%. Chinese stocks showed mixed results, with the Nasdaq Golden Dragon China Index down 0.3% [1] - International oil prices fell significantly, with WTI crude down 3.08% at $60.14 per barrel and Brent crude down 2.76% at $63 per barrel. Gold prices also declined, with spot gold down 0.81% at $3316.6 per ounce [1] Industry Insights Robotics Sector - The humanoid robot industry is poised for significant growth, with key developments expected in May and June. Tesla has clarified its mass production expectations for Optimus, indicating ongoing industrialization. Analysts predict a new wave of growth in the sector during this period, driven by market sentiment and risk appetite [2] - The focus in the robotics sector includes lightweight design, energy consumption reduction, extended battery life, enhanced motion performance, and improved safety [2] Data Industry - The National Data Bureau emphasized the importance of accelerating digital China construction and leveraging AI for high-quality data supply. The data industry is expected to experience a new wave of development opportunities driven by trends in AI infrastructure and domestic data elements [4] - Analysts predict that the core AI industry could contribute approximately 10% to GDP by 2035, with significant demand expected in database, data platform, and basic data services [4] Blockchain Industry - Beijing's action plan for blockchain innovation aims to enhance the capabilities of national digital infrastructure by 2027, focusing on breakthroughs in core technologies and creating exemplary applications in various fields [6] - The plan includes three key actions: strengthening blockchain research, building a national blockchain hub, and developing demonstration applications in sectors like AI and healthcare [6] Power Market - The National Development and Reform Commission announced plans to accelerate the construction of a power spot market by the end of 2025, aiming for comprehensive coverage and continuous settlement operations [7] - The evolving energy landscape necessitates a supply guarantee mechanism to ensure reliable electricity supply amid tightening supply-demand conditions [7]

证券代码：300468 证券简称：四方精创 公告编号：2025-020 深圳四方精创资讯股份有限公司 第五届监事会第八次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 深圳四方精创资讯股份有限公司（以下简称"公司"）第五届监事会第八次会议于 2025 年 4 月 28 日在公司会议室以现场和通讯相结合的方式召开。本次监事会会议的通 知于 2025 年 4 月 22 日以书面、电子邮件、电话方式通知全体监事。会议应出席监事 3 名，实际出席监事 3 名。公司董事会秘书列席了本次会议。本次监事会会议由黄开炳先 生主持。本次会议的召集和召开符合国家有关法律、法规及《公司章程》的规定。经与 会监事审议，以投票表决方式通过了以下决议： 1、 审议通过《关于审议公司<2025 年第一季度报告>的议案》 审核通过公司根据《证券法》《深圳证券交易所创业板股票上市规则》和《深圳证 券交易所上市公司规范运作指引》等的相关要求编制的《2025 年第一季度报告》。 本议案以 3 票同意，0 票反对，0 票弃权审议通过。 （以下无正文） 2025 年 4 月 28 日 _ ...

证券代码：300468 证券简称：四方精创 公告编号：2025-019 审核通过公司根据《证券法》《深圳证券交易所创业板股票上市规则》和《深圳证 券交易所上市公司规范运作指引》等的相关要求编制的《2025 年第一季度报告》。 本议案已经过第五届董事会审计委员会 2025 年第三次会议审议通过。 本议案以 5 票同意，0 票反对，0 票弃权审议通过。 （本页无正文，为签字页） 董事签字： 周志群 何敏 陈荣发 深圳四方精创资讯股份有限公司 第五届董事会第八次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 深圳四方精创资讯股份有限公司（以下简称"公司"）第五届董事会第八次会议于 2025 年 4 月 28 日在公司会议室以现场和通讯相结合的方式召开。本次董事会会议的通 知于 2025 年 4 月 22 日以书面、电子邮件、电话方式通知全体董事和监事。会议应出席 董事 5 名，实际出席董事 5 名。本次董事会会议由董事长周志群先生主持。本次会议的 召集和召开符合国家有关法律、法规及《公司章程》的规定。经与会董事审议，以投票 表决方式通过了以下决议： 1 ...

Financial Performance - The company's revenue for Q1 2025 was ¥131,573,571.13, a decrease of 21.40% compared to ¥167,401,998.80 in the same period last year[5] - Net profit attributable to shareholders was ¥12,896,713.54, down 21.52% from ¥16,433,008.30 year-on-year[5] - Total operating revenue for the current period was ¥131,573,571.13, a decrease of 21.4% from ¥167,401,998.80 in the previous period[18] - Net profit for the current period was ¥12,896,713.54, a decline of 21.5% compared to ¥16,433,008.30 in the previous period[19] - The company’s total profit for the current period was ¥12,947,711.21, down 30.0% from ¥18,632,710.98 in the previous period[19] Cash Flow and Liquidity - The net cash flow from operating activities improved by 23.01%, reaching -¥35,840,150.64 compared to -¥46,554,387.32 in the previous year[5] - Cash flow from operating activities showed a net outflow of ¥35,840,150.64, an improvement from a net outflow of ¥46,554,387.32 in the previous period[21] - Net cash flow from investment activities was -2,973,073.17, compared to -726,122.03 in the previous period, indicating a significant increase in cash outflow[22] - Net cash flow from financing activities was -2,437,441.11, down from -3,696,435.64, showing a reduction in cash outflow[22] - The net increase in cash and cash equivalents was -41,771,263.98, compared to -53,206,301.00 in the previous period, indicating an improvement[22] - The ending balance of cash and cash equivalents was 1,067,269,667.67, up from 946,595,294.63 in the previous period[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,796,855,104.45, a slight increase of 0.27% from ¥1,792,042,371.68 at the end of the previous year[5] - The total assets of Shenzhen Sifang Precision Information Co., Ltd. as of March 31, 2025, amounted to CNY 1,796,855,104.45, showing a slight increase from CNY 1,792,042,371.68 at the beginning of the period[14] - The company's current assets totaled CNY 1,383,501,370.91, compared to CNY 1,369,217,976.88 at the beginning of the period, reflecting a growth of approximately 1.0%[14] - The total liabilities decreased to CNY 146,263,259.73 from CNY 151,274,234.86, marking a reduction of about 3.3%[15] - The company's non-current assets totaled CNY 413,353,733.54, down from CNY 422,824,394.80, reflecting a decrease of approximately 2.7%[15] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 66,455[10] - The largest shareholder, Yiqun Group Holdings, holds 22.43% of the shares, totaling 118,998,403 shares[10] Research and Development - Research and development expenses increased by 49.77% to ¥17,318,275.84, indicating a focus on innovation[8] - Research and development expenses increased to ¥17,318,275.84, up 49.5% from ¥11,563,227.39 in the previous period[18] Other Financial Metrics - The weighted average return on equity decreased to 0.78% from 1.02% year-on-year[5] - Basic and diluted earnings per share were both ¥0.0243, down from ¥0.0310 in the previous period[20] - Other comprehensive income after tax was a loss of ¥3,073,005.64, compared to a gain of ¥3,203,001.03 in the previous period[19] - The company reported a decrease in sales expenses to ¥3,133,019.07 from ¥2,421,331.57 in the previous period[18] - The company reported a significant increase in other non-current assets by 9004.66% to ¥2,242,887.30, mainly due to prepayments for equipment renovations[8] Audit Status - The company’s first quarter report was not audited, which may affect the reliability of the financial data presented[23]

Core Viewpoint - The company provides comprehensive business solutions and customized software development services for financial institutions, focusing on digital transformation and traditional financial IT services [1][2]. Company Overview - The company specializes in offering end-to-end business solutions for financial institutions, including digital transformation consulting, product and solution development, and cloud delivery operations [1][2]. - The main business segments include consulting services, technology solutions for digital transformation, cloud operations, software development, technical maintenance, and system integration [2][3]. Business Model - The company operates as a leading financial technology solution provider, primarily serving domestic and international central banks and large commercial banks [3][4]. - Key clients include well-known financial institutions such as the Bank of China, Bank of China Hong Kong, and various other banks in Hong Kong and mainland China [3][4]. Financial Data - The company has not required retrospective adjustments or restatements of previous financial data [5]. - There are no significant discrepancies between the reported financial indicators and previously disclosed quarterly or semi-annual reports [6].

公司经中国证监会《关于同意深圳四方精创资讯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〕882 号）同意，公司向 11 名特定对象发 行人民币普通股（A 股）股票 20,725,388 股，发行价格为 19.30 元/股，募集资金 总额 399,999,988.40 元，扣除不含税发行费用人民币 11,388,402.99 元，募集资金 净额为 388,611,585.41 元。上述资金到位情况华兴会计师事务所（特殊普通合伙） 已验证，并出具《验证报告》（华兴验字[2022]21000670079 号）验证，公司已将 全部募集资金净额存入募集资金专户管理。 （二）募集资金使用及结存情况 国信证券股份有限公司 关于深圳四方精创资讯股份有限公司 2024 年度募集资金使用及存放情况的专项核查报告 国信证券股份有限公司（以下简称"国信证券"或"保荐人"）作为深圳四 方精创资讯股份有限公司（以下简称"四方精创"、"公司"）首次公开发行股票 并上市的保荐人，根据《证券发行上市保荐业务管理办法》《深圳证券交易所上 市公司自律监管指引第 13 号——保荐业务》《深圳证券交易所创业板股票上市规 则》《深圳 ...