1、行情 指数小幅上涨，题材大乱斗的普涨行情。 题材方面，数字货币高开，整体冲高回落，御银股份4板，翠微股份、恒宝股份、海联金汇集体3连板，保税科技、中科金财（炸）、亚世光电 （炸）开盘纷纷涨停，四方精创、华峰超纤、雄帝科技、楚天龙等开盘大涨； 足球概念高开高走，共创草坪2板，金陵体育、创源股份双双20CM涨停，康力源涨超10%，粤传媒、双象股份、棕榈股份、中体产业等盘中纷 纷大涨； 无人机板块冲高回落，永悦科技2连板，莱赛激光（30CM）、新大正、山东矿机、星网宇达、龙蟠科技、中天火箭、航天彩虹（炸）涨停，新 劲刚、恒宇信通、天和防务、成飞集成、六九一二等大涨；同时纵横股份、绿能慧充、海格通信等吹票股大幅高开低走； 创新药概念单边大涨，联化科技4连板，万邦德、海南海药、哈三联2连板，昂利康、千红制药、九芝堂、华纳药厂（20CM）、北陆药业 （20CM）、舒泰神（20CM）等先后涨停，科兴制药、海特生物、睿智医药、微芯生物、广生堂、佐力药业等均涨超10%； 此外，脑机接口、稀土、EDA、珠宝饰品、宠物经济、消费、黄金白银等均有强势异动表现，地产、钢铁、新能源车等跌幅居前。 截至收盘，沪指、深成指、创业板指分别 ...

由于其点对点支付、支付效率高而成本低、币值相对稳定，并与加密资产行业联系紧密等特点，稳定币在跨境支 付和外汇储蓄等常规金融活动中的应用越来越广泛，成为国际支付和资产储备的理想选择，同时在去中心化金融 等新型金融活动中也有重要应用。 6月3日，数字货币概念早盘大涨。截至当日收盘，四方精创涨10.53%，翠微股份、恒宝股份、海联金汇等个股收 获10CM涨停，中科金财涨7.90%。 消息面上，中国香港特别行政区政府近日在宪报刊登《稳定币条例》，旨在推动金融创新的同时保持金融稳定， 标志着中国香港在数字资产领域迈出了重要一步。 稳定币条例正式落地 据了解，合规的中国香港稳定币将在今年年底前正式推出，中国香港金管局已公开首批稳定币发行人沙盒名单。 稳定币在设计之初主要用于加密资产领域，但近年来快速进入支付等传统金融领域。 在此之前，中国香港立法会已在5月21日通过了该条例草案，用以在香港设立"法币稳定币"发行人的发牌制度。 中信建投分析称，随着RWA持续深化发展，发行机构、托管银行、区块链、投资者等RWA生态主体有望快速壮 大，RWA资产运营、银行IT以及跨境支付等领域有望迎来发展机遇。 上述机构建议，关注稳定币发行方 ...

人气及连板股分析 连板晋级率回升至35.3%，最高标德邦股份晋级5连板，但受到整个无人车辆概念的退潮拖累，尾盘遭遇巨量炸板分歧。整个高位人气股仍呈现两极分化， 王子新材、京华激光遭遇2连跌停的同时，均瑶健康、合兴股份两只此前断板股双双以"地天板"形式完成反包，因此类似断板反包的N型走势或成为近期一 批新抱团品种的新常态。高位股持续分化的同时，银行、创新药等大市值体量板块的强趋势行情仍不断得以强化。其中将要入选沪深300、上证180等指数的 沪农商行涨停并创出3年多新高，也是银行板块更是时隔2年多后再现涨停个股。在市场短线投机接力方向分歧之际，一些趋势主导的板块仍容易对资金形成 虹吸。 | 连板数 | 晋级率 | | 2025-6-3 | | --- | --- | --- | --- | | 4讲5 | 1/2=50% | 德邦股份(无人物流车) | | | 3 #4 | 2/2=100% | 御银股份 (数字货币) | | | 2讲3 | 3/13=23% | 恒宝股份 (数字货币+机器人) | | | | | 海联金汇(数字货币) | | | | | 哈三联(创新药+医美) | | | | | 万邦德(创 ...

Core Viewpoint - The article highlights the significant rise of the fintech sector, particularly driven by the recent regulatory developments surrounding stablecoins in Hong Kong and the growing market demand for digital financial solutions [6][11][29]. Market Performance - On June 2, the Hong Kong stock market experienced a remarkable recovery, with all major indices closing in the green and trading volumes increasing [1][3]. - The fintech sector emerged as one of the most active segments, with notable performances in digital currencies and cross-border payments [4][6]. Fintech Sector Dynamics - The fintech sector, particularly the financial technology ETF (159851), has seen a substantial increase of over 80% since last year, driven by the implementation of the Stablecoin Regulation in Hong Kong [6][24]. - The global fintech market is projected to exceed $8.5 trillion by 2024, with Asia-Pacific leading at a 45% market share, and China contributing $1.9 trillion [17]. Stablecoin Surge - Stablecoins have gained popularity due to their ability to mitigate the volatility of cryptocurrencies, with a global market cap exceeding $250 billion as of May 31, 2023 [13]. - Recent regulatory frameworks in Hong Kong and the U.S. are expected to enhance institutional trust in stablecoins, potentially increasing U.S. institutional allocations to $80 billion by 2025 [11][12]. Technological Advancements - Technological breakthroughs, such as reduced transaction costs and improved transaction speeds, are facilitating the integration of stablecoins into traditional financial systems [12][22]. - The rise of embedded finance is transforming how financial services are accessed, with predictions indicating a market size of $3.2 trillion by 2027 [19]. Investment Opportunities - The fintech sector is characterized by high volatility and potential for significant returns, with the fintech ETF (159851) being a preferred vehicle for investors seeking diversified exposure [24][26]. - Companies that are technologically advanced, have clear business models, and strong compliance frameworks are positioned to benefit from the ongoing fintech revolution [30].

Core Insights - The stablecoin industry is approaching a historic moment with Circle, the issuer of USDC, planning to go public on June 5, marking the first IPO in the stablecoin sector, which is seen as a significant step towards mainstream financial acceptance of digital currencies [2][4] - The global stablecoin market is heating up, with Bitcoin prices surpassing $110,000 since 2025, and major banks like JPMorgan and Standard Chartered entering the stablecoin business [2][7] - Hong Kong's "Stablecoin Regulation" officially took effect on May 30, establishing a comprehensive regulatory framework for fiat-backed stablecoins, positioning Hong Kong as a leader in digital financial governance [4][5] Industry Developments - Circle's IPO is expected to provide a valuation benchmark for the stablecoin industry and test traditional capital markets' acceptance of stablecoin business models [4] - The "Stablecoin Regulation" in Hong Kong introduces high standards for licensing, including a minimum paid-up capital of HKD 25 million and strict reserve asset requirements, enhancing market entry barriers and promoting a more professional and transparent stablecoin market [5] - Major banks are accelerating their involvement in the stablecoin sector, with JPMorgan's "JPM Coin" and other banks exploring stablecoin issuance and related services, indicating a shift towards deeper integration of stablecoins in traditional finance [7][8] Regulatory Landscape - The introduction of the "Stablecoin Regulation" in Hong Kong fills a regulatory gap and lays a solid foundation for the compliant development of stablecoins, enhancing investor protection and market confidence [5] - Global competition for stablecoin dominance is intensifying, with the U.S. and EU also working on regulatory frameworks to secure their positions in the evolving digital currency landscape [6][10] - The regulatory environment is expected to evolve, with banks likely to engage more actively in stablecoin issuance, trading, and derivative businesses as frameworks become more established [7][10] Market Dynamics - The rapid growth of stablecoins, particularly those pegged to the U.S. dollar, is enhancing the international influence of the dollar, raising concerns about the implications for traditional monetary systems [9][10] - The integration of stablecoins and cryptocurrencies into traditional financial systems is increasingly recognized for its potential to improve financial service efficiency and reduce costs, suggesting an irreversible trend towards convergence [10]

6月3日涨停分析 今日共68股涨停，连板股总数15只，31股封板未遂，封板率为69%（不含ST股、退市股）。焦点股方面，并购重组的滨海能源反包涨停录得11天7板，德邦 股份晋级5连板成为市场高度板，均瑶健康午后上演"地天板"走出6天5板，此外数字货币概念股御银股份一字涨停晋级4连板。 | 股票名称 | 板数 | 涨跌幅 | 涨停时间 | 上涨逻辑 | | --- | --- | --- | --- | --- | | 万邦德 | 2天2板 | 10.06% | 09:32 | 创新药 | | 002082 | | | | | | 海南海药 | 2天2板 | 9.97% | 09:33 | 海南+创新 | | 000566 | | | | 药 | | 哈三联 | 2天2板 | 9.98% | 13:12 | 创新药+医 | | 002900 | | | | 美 | | 千红制药 | 4天2板 | 10.05% | 10:39 | 创新药 | | 002550 | | | | | | 昂利康 | 首板 | 10.03% | 10:24 | 创新药 | | 002940 | | | | | | 九芝堂 | 首板 | ...

6月3日早盘，美容护理、传媒、有色金属等行业板块领涨A股，黄金珠宝、脑机接口、医美、数字货 币、跨境支付等概念指数盘中活跃。ETF方面，信创ETF（562570）一度涨超1%，持仓股中，北信源、 中望软件、山大地纬、华大九天、广联达等涨幅居前。云计算50ETF（516630）涨超0.5%，奇安信、科 大讯飞、广联达、神州信息、国投智能等持仓股领涨。 5月以来，资金布局信创板块的热情较高。数据显示，信创ETF（562570）已连续11个交易日获资金净 流入，期间净流入金额高达35187万元。值得一提的是，或博弈海光信息、中科曙光复牌后上涨预期， 上周资金抢筹该ETF的力度更是直线上升。据悉，信创ETF（562570）上周获资金净流入34077万元， 净流率高达81.2%。 相关ETF： 1、信创ETF（562570）：近日海光信息、中科曙光宣布战略重组，中证信创指数（931247）与该事件 相关度较高。截至5月30日，海光信息、中科曙光分别是该指数第1大、第8大权重股，合计权重超 10%。信创ETF（562570）为跟踪该指数规模最大的ETF。 2、云计算50ETF（516630）：标的指数为云计算指数（930 ...

Group 1 - Hong Kong's "Stablecoin Regulation" is the world's first specialized legislation for fiat-backed stablecoins, filling a regulatory gap and promoting compliance in the stablecoin sector [1] - The Hong Kong Legislative Council passed the draft regulation on May 21, with licensed stablecoin issuers expected to emerge by the end of this year [1] - The Hong Kong Monetary Authority has released the first batch of stablecoin issuer sandbox participants, including Round Coin Innovation Technology [1] Group 2 - Citic Securities reports that recent legislative progress in Hong Kong and the U.S. on stablecoins enhances market liquidity and supports the issuance of Real World Assets (RWA) by mainland enterprises in Hong Kong [2] - The stablecoin legislation is expected to indirectly boost the development of digital currency payment and settlement interfaces in Hong Kong's financial sector, benefiting financial IT companies experienced in cross-border settlements [2] - With the ongoing development of RWA, various stakeholders in the RWA ecosystem, including issuers, custodial banks, and investors, are anticipated to grow rapidly, presenting investment opportunities in RWA asset operations and cross-border payments [2] Group 3 - ZhongAn Online (06060) holds a 43.43% stake in ZhongAn Bank, the first digital bank in Hong Kong to provide reserve banking services for stablecoin issuers, and has a 8.7% stake in Round Coin Innovation Technology, a sandbox participant [3] - LianLian Digital (02598) indirectly owns 100% of LianLian Pay Global Limited and collaborates with Round Coin Technology on stablecoin applications in cross-border payments [3] - PCCW (00008) announced a partnership with Standard Chartered Bank and Animoca Brands to explore stablecoin issuance, aiming to leverage their combined expertise and technology [3]

2025年5月19日，美国参议院通过了《指导与建立美国稳定币国家创新法案》的程序性投票；2025年5月 21日，香港立法会正式三读通过《稳定币条例草案》。据香港立法会官网，香港金融管理专员(HKMA) 将负责稳定币监管与发牌，设立香港本地实体公司持牌人须具备2500万港元缴足股本；稳定币须100% 以储备资产支撑，其市值应始终不低于流通面值。RWA(Real-World Assets)即通过区块链技术将现实中 的资产数字化并上链。稳定币对RWA中的赋能包括： 1)为RWA代币交易提供币值稳定的工具：稳定币作为数字货币能够用于RWA资产交易，币值又和法定 货币1:1挂钩，有效降低购买RWA代币时支付币值变化的风险。 2)增加流动性：稳定币能帮助RWA代币更容易买卖，投资者可以用稳定币快速买进或卖出RWA代币， 激发RWA市场活跃度。 智通财经APP获悉，中信证券发布研报称，近期中国香港、美国均不同程度推进稳定币相关法案立法进 程，稳定币能够为RWA代币资产提供币值稳健的交易方式，增强市场流动性，有助于促进大陆企业在 港RWA发行项目进一步落地；同时，稳定币法案有望间接助推香港金融行业数字货币相关支付、结算 接口 ...

香港恒生指数收跌0.57%，恒生科技指数收跌0.70%。新世界发展跌超6%，四只永续债延迟派息；数字 货币概念股大涨，众安在线涨超9%。 ...