注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 （文章来源：证券时报网） 从持有人结构看，机构投资者持有份额平均占比为9.62%，机构投资者持有份额占比居前的有国联安中 证A500红利低波ETF、建信上证科创板200ETF、平安中证A500红利低波动ETF，机构投资者持有比例 分别为98.93%、32.48%、13.53%，机构投资者持有比例较低的有华安创业板人工智能ETF、鹏华创业 板综合ETF、富国上证科创板200ETF，机构投资者持有比例分别为0.55%、1.52%、1.64%。（数据宝） 近期成立的股票ETF基金建仓期仓位 | 基金代 | 基金简称 | 基金成立 | 募集规模 | 上市公告数据 | 上市公告书披露股 | 上市日期 | | --- | --- | --- | --- | --- | --- | --- | | 码 | | 日 | （亿份） | 截止日期 | 票仓位（%） | | | 515720 | 富国中证金融科技主 | 2025.09.22 | 8.17 | 2025.09.24 | 10.13 | 2025.10.09 | | | 题ETF | | | | | | | ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 9月25日晚，湘财股份（600095）与大智慧（601519）各发布多份公告，正式披露换股吸收合并事项的 关键草案，标志着这两家企业的合并事项取得实质性进展。 根据公告，湘财股份拟通过换股方式吸收合并大智慧，并配套募集80亿元资金用于金融科技领域布局。 湘财股份的A股换股价格为7.51元/股，大智慧的A股换股价格为9.53元/股，换股比例为1：1.27（即大智 慧股东持有的每1股大智慧股票可以换取1.27股湘财股份股票）。 截至26日午间收盘，湘财股份涨5.34%，报12.83元/股；大智慧涨2.30%，报16.04元/股。 | 湘财股份 (600095) 画 | | | | | | | --- | --- | --- | --- | --- | --- | | 12.83 | 10.65 +5.34% | | | | 十 中 买 英 | | ム | 闪买 | | | 闪要 | | | 交易状态:午间休市 | | | | | | | 行情报价 | | | | | | | 成交量 | 126万手 | 取尚 | 13.15 | 今井 | 1 ...

Group 1 - The China Securities Financial Technology Theme Index decreased by 0.90% as of September 26, 2025, with mixed performance among constituent stocks [3] - The Financial Technology ETF (516860) fell by 0.95%, with the latest price at 1.56 yuan, while it has seen a cumulative increase of 9.99% over the past three months [3] - The trading volume for the Financial Technology ETF was 79.6468 million yuan, with a turnover rate of 3.17% [3] Group 2 - At the 2025 JD Supply Chain Financial Technology Conference, JD Technology announced a development path focusing on three integrations: consumption and industry, innovation and scenarios, and internal and external circulation [3] - The Digital RMB International Operation Center's business platform was introduced at a promotional event in Shanghai, marking its official operation [3] Group 3 - Experts indicate that the policy aims to leverage the early advantage of the Digital RMB to participate in global digital currency rule-making and address traditional cross-border payment issues [4] - The policy sets a target for the Digital RMB to account for over 25% of retail payments and 60% in government procurement and public services by the end of 2026 [4] - The Financial Technology ETF saw a significant growth of 4.07 billion yuan in scale over the past month, ranking 2nd among comparable funds [4] Group 4 - The top ten weighted stocks in the China Securities Financial Technology Theme Index account for 54.08% of the index, including companies like Tonghuashun and Dongfang Caifu [5]

本文首发于公众号"私募排排网"。 （点击↑↑ 上图观看路演 ） 正瀛资产简介 上海正瀛资产管理有限公司 成立于2015年，公司是国内较早参与场内期权市场的投资机构， 在期权波动率交易领域拥有深厚的底蕴与丰富的 经验。 随着公司的不断发展和期权市场容量有限， 公司认识到金融科技和人工智能对于投资行业的深刻影响，加大了技术方面的投入，在2021年开始 布局股票业务并引入了股票高频团队。公司在2023年8月份开始对外发行中性底仓T0策略产品，2024年第四季度开始对外发行指增底仓T0策略 产品。 私募排排网数据显示，截至2025年8月底，在50亿以上规模中，正瀛资产旗下产品今年来收益均值达***%， 位列"主观+量化"型私募业绩 Top10。 （ 点击查看收益 ） 截至2025年8月底， 正瀛资产旗下产品"正瀛骐骥指数增强17号"今年来超额收益达***%，位列量化多头超额收益榜Top3。 （ 点击查看收益 ） 正瀛资产以主观和量化结合的方式，更好的洞悉市场，管理风险，为投资者带来长期可持续的投资回报。公司的愿景是打造国内一流的资产管 理品牌，成为投资信任的私募基金管理人。 （点此查看 正瀛资产旗下基金业绩、核心团队 ...

资金流向方面，主力资金净流出300.64万元，特大单买入0.00元，占比0.00%，卖出115.37万元，占比 3.80%；大单买入356.78万元，占比11.74%，卖出542.05万元，占比17.84%。 截至6月30日，银信科技股东户数5.01万，较上期减少5.40%；人均流通股8872股，较上期增加5.71%。 2025年1月-6月，银信科技实现营业收入8.38亿元，同比增长7.36%；归母净利润4890.73万元，同比增长 20.89%。 分红方面，银信科技A股上市后累计派现7.19亿元。近三年，累计派现2.12亿元。 机构持仓方面，截止2025年6月30日，银信科技十大流通股东中，华宝中证金融科技主题ETF （159851）位居第三大流通股东，持股293.19万股，相比上期增加2.52万股。香港中央结算有限公司位 居第四大流通股东，持股250.34万股，为新进股东。 银信科技今年以来股价跌6.07%，近5个交易日跌1.94%，近20日跌11.10%，近60日跌0.68%。 资料显示，北京银信长远科技股份有限公司位于北京市朝阳区安定路35号北京安华发展大厦8层，成立 日期2004年5月31日，上市日 ...

｜2025年9月26日星期五｜ NO.1湘财股份拟换股吸收合并大智慧 湘财股份（600095）9月25日晚间公告，拟换股吸收合并大智慧。湘财股份将向换股对象发行A股股 份，作为向其支付吸收合并的对价。湘财股份异议股东收购请求权价格为本次吸收合并的定价基准日前 120个交易日内的湘财股份股票交易均价，即7.51元/股。大智慧异议股东现金选择权价格为本次吸收合 并的定价基准日前120个交易日内的大智慧股票交易均价，即9.53元/股。此外，本次募集配套资金总额 不超过人民币80亿元，扣除中介机构费用及交易税费等本次交易相关费用后，拟用于金融大模型与证券 数字化建设项目、大数据工程及服务网络建设项目、财富管理一体化项目、国际化金融科技项目、补充 流动资金及偿还债务等用途。 NO.3基金经理涉赌，西部利得基金宣布解约 近日，网传"沪上某基金经理因赌博被警方带走"的消息引发业界广泛关注。9月25日，西部利得基金正 式作出回应："经与本人确认及审慎核查，解文增于9月7日下午15时许，在上海市长宁区仙霞路某酒店 实施赌博违法行为。"上海市公安局长宁分局9月8日对解文增出具《行政处罚决定书》："行政拘留十日 并处罚款五百元，对 ...

Core Viewpoint - The merger between Xiangcai Co. and Dazhihui has progressed significantly, moving from the preparatory phase to the core processes of shareholder approval and regulatory review [1][2]. Group 1: Transaction Process - The transaction has officially entered the core processes of shareholder meeting approval and regulatory review, with both boards approving the draft for implementation pending necessary approvals [2]. - The business scope post-merger is clearly defined, with Dazhihui to be delisted and Xiangcai Co. inheriting all assets, liabilities, and business operations [5]. - The merger will be executed through a "share swap + supporting fundraising" approach, with a swap ratio of 1:1.27, where each share of Dazhihui can be exchanged for 1.27 shares of Xiangcai Co. [5][8]. Group 2: Fundraising and Investment Plans - Xiangcai Co. plans to raise up to 8 billion yuan from no more than 35 specific investors, with funds allocated to various projects including financial modeling, big data services, and international financial technology [8][13]. - The investment plan emphasizes financial technology and internationalization, aiming to enhance digital capabilities and market reach [13][15]. Group 3: Financial Metrics and Performance - Post-merger, the total assets and equity attributable to the parent company are expected to increase significantly, enhancing the company's operational capacity and risk resilience [12][18]. - The asset-liability ratio is projected to decrease, indicating reduced financial risk, with total assets increasing from 41.32 billion yuan to 59.13 billion yuan in the first half of 2025 [19][18]. - Profit metrics may experience short-term fluctuations due to integration costs, but long-term growth is anticipated as synergies from the merger materialize [20][22]. Group 4: Strategic Synergies and Future Outlook - The merger aims to leverage financial technology to enhance the overall service capabilities of Xiangcai Co., focusing on customer resource integration and service optimization [23]. - The company plans to expand into international markets, combining its operational strengths with Dazhihui's technological advantages to create a comprehensive international financial technology platform [24]. - The ownership structure remains stable post-merger, with key stakeholders maintaining their positions and commitments to not seek control over Xiangcai Co. [26][28]. Group 5: Transition Period Arrangements - Initial arrangements for the transition period have been outlined, ensuring both companies maintain operational stability and adhere to legal obligations during the integration process [29][30].

｜2025年9月26日 星期五｜ 近日，财达证券发布了《市场化选聘职业经理人公告》，公开选拔包括总经理在内的众多职位。具体而 言，财达证券将招聘总经理1名；分管证券投资业务的副总经理1名；财达研究院（研究所）总经理（公 司总经理助理级）1名。"为不断提高经营管理水平，增强市场竞争活力，以高素质、专业化的经营管理 团队推进公司持续健康快速发展，实现'做一流券商、建金融高地、铸百年财达'的发展愿景。"财达证 券表示。 点评：公募基金规模首破36万亿，连续三月创新高，反映居民财富向专业投资转移趋势明显。股基猛增 6300亿领跑各类产品，显示市场风险偏好提升，权益资产吸引力增强。基金公司管理规模扩张将提振盈 利预期，券商代销业务同步受益。资本市场深化改革成效显现，机构投资者占比提升有助于市场结构优 化，为长期健康发展奠定基础。 NO.3 基金经理涉赌，西部利得基金宣布解约 近日，网传"沪上某基金经理因赌博被警方带走"的消息引发业界广泛关注。9月25日，西部利得基金正 式作出回应："经与本人确认及审慎核查，解文增于9月7日下午15时许，在上海市长宁区仙霞路某酒店 实施赌博违法行为。"上海市公安局长宁分局9月8日对解文增 ...

Core Insights - The mobile banking app has become a core platform for commercial banks to serve users, optimize experiences, and enhance competitiveness in the context of national digital transformation and financial technology innovation [1] - The market for mobile banking apps is entering a stage of stock competition, with user flow stabilizing between 650 million to 700 million from 2023 to 2025, indicating saturation [2] - User engagement with mobile banking apps is declining, necessitating refined operational strategies for banks to retain customers [4][6] User Flow and Behavior - The overall user flow of mobile banking apps in China is projected to fluctuate between 650 million and 700 million, with a change rate of -1.2% to 4.6% from 2023 to 2025, indicating market saturation [2] - User stickiness has significantly decreased, with average daily effective usage time dropping from 4.93 minutes to 2.70 minutes and daily usage frequency from 4.54 times to 2.86 times [4] Operational Strategies - Refined operations are essential for banks to break through in a saturated market, focusing on precise user insights and intelligent technology applications [6][7] - The strategy involves three layers: foundational user insights, scenario-based and differentiated operations, and establishing emotional connections with users [7] AI Integration - AI technology is recognized for its potential value across industries, aiding banks in refining operations by enhancing interactive experiences, risk management, and data efficiency [9] Rankings and Performance - The top 50 rankings show that state-owned banks dominate, with Agricultural Bank of China leading with an average MAU of 24.8 million, followed by Industrial and Commercial Bank of China and China Construction Bank [11][12] - Among joint-stock commercial banks, China Merchants Bank leads with over 7 million MAU, while many others face declining user engagement [16][17] - City commercial banks have shown strong performance, with Jiangsu Bank leading at 3.5 million MAU, and several banks achieving significant growth rates [19][20] Case Studies of Successful Apps - Agricultural Bank of China continues to lead the industry with a 4.8% increase in MAU, focusing on integrating financial services with daily life scenarios [28][29] - China Merchants Bank is recognized for its innovative digital services, maintaining its position as a leader among joint-stock banks [31] - Jiangsu Bank emphasizes the integration of digital capabilities with wealth management, enhancing its app to meet customer needs [33] - Beijing Bank's app showcases a digital transformation strategy that combines technology, scenarios, and services to create value [35]

Core Viewpoint - The Fourth Global Digital Trade Expo in Hangzhou highlights the integration of artificial intelligence and digital trade, showcasing China UnionPay's innovations in payment solutions and its commitment to enhancing the digital trade ecosystem [1][2]. Group 1: Event Overview - The expo focuses on "Artificial Intelligence + Digital Trade" and is the only national-level exhibition dedicated to digital trade in China, attracting global attention [1]. - China UnionPay's theme is "Connecting the World, Sharing the Future," emphasizing its role in the digital trade industry's evolution [1]. Group 2: China UnionPay's Innovations - China UnionPay showcased its smart payment innovations, including the MCP intelligent payment service that allows users to complete transactions within chat interfaces, promoting a "dialogue-to-payment" experience [3]. - The exhibition featured AR technology-based smart payment glasses, enabling users to make payments through visual recognition and voice commands, enhancing user interaction and security [3]. Group 3: Payment Evolution - The display illustrated the evolution of China UnionPay's payment methods, transitioning from traditional bank cards to digital solutions, reflecting a shift from "card-based" to "identity-based" payments [4]. - The integration of various payment methods, including card, code, and Pay, has been widely adopted across multiple sectors such as retail, healthcare, and government services [5]. Group 4: Global Payment Network - China UnionPay is actively building a global payment network to facilitate cross-border trade, enhancing payment convenience for international transactions [6]. - The company has established cross-border QR code interoperability projects in 19 countries, significantly lowering the technical barriers for small and medium enterprises to access international markets [6][7]. Group 5: Future Outlook - China UnionPay aims to deepen its integration with global trade through the promotion of a unified cross-border QR code gateway and continuous upgrades of B2B payment products [7]. - The company has extended its network to 183 countries, with over 74 million merchants supporting UnionPay payments, contributing to China's higher level of openness in international trade [7].