云南作为我国重要的农业资源大省，拥有独特的自然条件，也是生物多样性宝库，高原特色农业的发展 对当地经济具有重要意义。近年来，兴业银行股份有限公司昆明分行（以下简称"兴业银行昆明分行"） 在云粮、云菌、云花、云牛领域扎实做好"科技金融""数字金融"大文章，广引金融活水，"滋润"高原特 色农业发展，生动展现了金融科技赋能乡村振兴的广阔前景。 卫星遥感应用助力"云粮"增产增收 位于大理白族自治州大理市湾桥镇古生村的某农业发展有限公司，在绿色生态种植的农业新浪潮下，发 挥洱海流域自然资源禀赋，通过绿色有机水稻种植，打造了"云粮·洱海留香"高原软香米品牌。目前， 该公司在洱海流域实施5000亩绿色有机水稻种植，年产销量可达2717.5吨。然而，在生产经营过程中， 由于高原单季稻种植土地不平整、人工管理耗时高、成本高等问题，公司面临流动资金短缺难题。此 外，受限于农业企业在信贷过程中押品确权难、监管难等风险特点，企业融资屡屡受挫。 兴业银行昆明分行了解到公司需求后，创新运用卫星遥感应用系统农业种植2.0监测方案，为该公司提 供了1000万元贷款支持，助力其扩大生产规模，提升种植技术。在项目实施过程中，兴业银行昆明分行 金 ...

Investment Rating - The investment rating for the company is "Buy" [5] Core Insights - The company has been included in the Hong Kong Stock Exchange Technology 100 Index, which is expected to improve its liquidity [2] - The company renewed its strategic cooperation agreement with a subsidiary of Tencent for used car services, reflecting confidence in the growth of its used car business [2] - The Q3 operational data showed a robust performance with a year-on-year increase in auto financing transaction volume of 22.6%, surpassing the market growth rate of approximately 11% [3] Summary by Sections Business Update - The company announced its inclusion in the Hong Kong Stock Exchange Technology 100 Index on December 9, which tracks the performance of the largest technology companies listed in Hong Kong [2] - The renewal of the agreement with the subsidiary of Tencent will increase the annual service fee cap from 50 million to 60 million, indicating a growing demand for used car services [2] Q3 Operational Data - In Q3 2025, the company achieved a total auto financing transaction volume of 235,000, with a financing amount of approximately 21.2 billion [3] - The financing amount for used cars reached about 12.1 billion, representing a year-on-year growth of approximately 51.3%, accounting for about 56.9% of the total financing [3] - The financial technology business also saw significant growth, with a financing amount of approximately 11.4 billion, a year-on-year increase of about 102%, making up 53.7% of the total financing [3] Financial Forecast - The company is expected to maintain high growth in its overall performance, with a projected net profit of 1.143 billion for 2025, reflecting a year-on-year increase of 41.2% [3] - The price-to-earnings ratio (P/E) is projected to be 16 times based on the December 10 price of 2.95 HKD [3]

Core Viewpoint - The company emphasizes a customer-centric approach, implementing various initiatives to enhance financial services for the public, particularly focusing on accessibility and satisfaction [1]. Group 1: Principles and Mechanisms - The company adopts a "total and sub-coordination, matrix output" principle to ensure effective consumer rights protection and policy implementation across all levels [2]. - A "service first, highlighting effectiveness" principle is maintained, targeting diverse customer groups with proactive financial education and community engagement [3]. - The company leverages technology to enhance service efficiency, utilizing AI for customer support and big data for risk management [4]. - A "problem-oriented, information transparency" principle is followed, focusing on reducing fees for small and micro enterprises while ensuring clear communication of product terms [5]. Group 2: Initiatives for Small and Micro Enterprises - The company organizes initiatives like "thousands of enterprises and ten thousand households" visits to better understand and meet the needs of small and micro enterprises [6]. - It provides tailored financial service solutions to support the development of private enterprises and entrepreneurs [6]. Group 3: Rural Revitalization and Disaster Recovery - The company actively supports rural revitalization by enhancing credit systems and expanding financial products for agricultural and rural enterprises [7]. - It has established a mechanism for disaster recovery, providing financial support for infrastructure and ecological restoration post-disaster [8]. Group 4: Retail Services and Community Support - The company has optimized personal banking services, including a streamlined process for deceased account holders, enhancing customer experience [9]. - It promotes personal pension services, focusing on the elderly and improving their access to financial education and services [9]. - The company emphasizes account security management, conducting regular safety checks and promoting awareness of fraud prevention [10]. Group 5: Inclusive Services - The company provides specialized services for disabled individuals, ensuring accessibility in financial education and service delivery [11]. - It has developed multilingual financial service manuals to assist foreign nationals in China, facilitating their financial transactions [12].

Group 1 - The core event was the "Digital Competition for Financial National Service" national financial industry digital transformation skills competition, where China CITIC Bank won the second prize in the data modeling track, ranking third in the finals among 30 teams [1] - The competition gathered 63 top teams in the financial data modeling field, focusing on key business scenarios such as risk control, marketing, and operations, aiming to shift financial institutions from "experience-driven" to "data-driven" [1] - The competition emphasized the use of mathematical statistical methods to build quantitative models and support precise decision-making, providing a methodological foundation for the financial service upgrade during the 14th Five-Year Plan [1] Group 2 - China CITIC Bank's team consisted of professionals skilled in various technical routes, including traditional scoring cards and deep learning, utilizing their self-developed risk control modeling agent AlphaMo [2] - The team optimized their solution through key stages such as model construction and data validation, resulting in a proposal that closely aligned with actual financial business needs and showcased advanced data modeling technology [2] - The bank has actively pursued innovation in inclusive finance, addressing data silos in inclusive credit scenarios and creating a "CITIC-Baixin Data Integration" model to enhance precision in credit services [2] Group 3 - The bank recently released a new brand promotional video titled "Baixin's Confidence Bank," highlighting its role in supporting households in pursuing better lives through digital inclusive financial services [3] - The bank has also upgraded its brand logo to better reflect its mission as a state-controlled digital bank while standardizing its visual identity [3] - Moving forward, China CITIC Bank aims to continue driving financial service innovation through technology, enhancing service convenience and inclusivity, and exploring new paths for financial technology to empower inclusive finance [3]

Core Viewpoint - The company, Dongzheng Futures, has been recognized for its comprehensive competitiveness and internationalization efforts, winning three prestigious awards at the "2025 China Futures Industry Jun Ding Award" [1][5] Group 1: Awards and Recognition - Dongzheng Futures won the "Leading Futures Company Jun Ding Award," "Internationalization Pioneer Futures Company Jun Ding Award," and "Excellent Service to the Real Economy Futures Company Jun Ding Award," making it one of the institutions with the most core awards in this selection [1][5] - The Jun Ding Award emphasizes "high-quality development," assessing institutions based on functional positioning, service effectiveness for the real economy, and innovative practices [1] Group 2: Internationalization Strategy - Since establishing its "internationalization" strategy in 2012, the company has focused on cross-border business, with its wholly-owned subsidiary, Dongzheng Futures International (Singapore), obtaining clearing qualifications from the three major international exchanges [2] - The company has developed a bilingual professional team to meet the growing cross-border hedging needs of domestic and foreign clients, providing a 24/7 customer service model [2] - Dongzheng Futures has integrated new open-ended products into its service list promptly, supporting Chinese enterprises in going global and attracting foreign capital [2] Group 3: Service to the Real Economy - The company has developed four financial technology platforms: "Dongzheng Fanwei," "Dongfang Yuyun," "Zhida Pro," and "Dazong Jingling," to create a differentiated competitive advantage [3] - Dongzheng Futures has invested nearly 12.5 million yuan in rural revitalization initiatives, providing risk protection for industries such as pig farming and agriculture, benefiting thousands of farmers and enterprises [3] - The "insurance + futures" model has shown significant results, with a compensation rate of 117.72% for the pig farming project in Guangxi and an increase of 9.37 million yuan for farmers in Guangdong [3] Group 4: Future Development Direction - The company aims to continue its development in digitalization, internationalization, group integration, and market-oriented strategies, aspiring to become a leading comprehensive service provider in derivatives with full-cycle risk management capabilities [4] - Dongzheng Futures is committed to making financial services more inclusive and precise, fulfilling its financial mission and contributing to the high-quality development of the futures industry and national strategies [4]

12月9日，港交所正式推出其首只港股指数——香港交易所科技100指数（港交所科技100），易鑫 集团成功入选为该指数成分股。今年以来，易鑫已先后纳入AH经济成长、港股金融科技等指数。此次 再获新指数认可，标志着其在科技领域的成长性与行业地位持续获得资本市场高度肯定。 港交所科技100指数旨在追踪100家在港交所上市的市值最大的科技公司表现，指数的成分股皆为港 股通合资格股票，以满足国际和中国内地投资者的投资需求。该指数聚焦人工智能、生物科技及制药、 电动汽车及智能驾驶、资讯科技、互联网和机器人六大前沿创新主题。 易鑫此次入选，显示出其"AI驱动型金融科技平台"的定位已备获肯定。近年来，易鑫持续发力，将 人工智能技术深度融入汽车金融全链条。2024年易鑫成为中国汽车金融领域首个通过生成式人工智能大 模型备案的企业，率先实现业务全场景的AI规模化应用；2025年，正式发布汽车金融行业首个Agentic 大模型，并开源高性能推理模型和Agentic大模型。截至目前，易鑫业务已覆盖全球6个国家、340多个 城市，连接了4.4万家经销商与百余家金融机构，累计服务超 1500 万客户，交易规模超4000亿元，高度 契合指 ...

截至12月9日，金融科技ETF华夏近6月净值上涨11.13%。从收益能力看，截至2025年12月9日，金融科技ETF华夏自成立以来，最高单月回报为55.18%，最 长连涨月数为4个月，最长连涨涨幅为47.15%，上涨月份平均收益率为10.21%，年盈利百分比为66.67%，历史持有3年盈利概率为84.50%。截至2025年12月9 日，金融科技ETF华夏近1年超越基准年化收益为1.54%。 截至2025年12月10日 14:36，中证金融科技主题指数(930986)上涨0.52%，成分股恒银科技(603106)上涨5.60%，赢时胜(300377)上涨4.44%，电科数字(600850) 上涨3.96%，新晨科技(300542)上涨3.38%，新大陆(000997)上涨1.99%。金融科技ETF华夏(516100)上涨0.53%，最新价报1.34元。拉长时间看，截至2025年12 月9日，金融科技ETF华夏近1周累计上涨1.29%，涨幅排名可比基金2/8。（以上所列股票仅为指数成份股，无特定推荐之意） 数据方面，金融科技ETF华夏近1周规模增长5747.13万元，近1周份额增长1200.00万份，近7天获得连 ...

Core Insights - The Chinese stock trading software market has seen a significant increase in active users, surpassing 166 million in 2025, with a penetration rate of 15.46% [1][11] - The growth in active users is attributed to improved market sentiment, with new A-share accounts reaching 1.96 million in July 2025, a year-on-year increase of 71% [2][12] - Key evaluation dimensions for stock trading software include data coverage, information timeliness, utility of intelligent tools, trading experience, and community ecosystem [2][12] Group 1: Market Landscape and Evaluation Dimensions - In July 2025, the number of active users for securities service applications increased by 3.36% month-on-month to 167 million, marking a year-on-year growth of 20.89% [2][12] - The gap between third-party applications and brokerage self-operated apps is narrowing, with the difference in monthly active users between Dazhihui and Huatai Securities' "Zhangle Wealth" being only 562,900 [2][12] Group 2: Leading Applications - Sina Finance APP ranks first in the 2025 stock trading software rankings with a comprehensive score of 9.56, excelling in global market coverage and professional depth [3][13] - Sina Finance APP covers over 40 markets, including A-shares, Hong Kong stocks, US stocks, forex, and futures, with millisecond-level updates [3][13] - The app's information timeliness is a significant advantage, providing insights on major global events 5-10 seconds faster than competitors [3][13] Group 3: Technical Efficiency - Tonghuashun leads in user numbers with 35.02 million monthly active users, focusing on trading efficiency and intelligent tools [4][14] - The lightning trading system supports over 90% of brokers to complete orders within 3 seconds, with market order execution speed 0.7 seconds faster than the industry average [4][14] - User feedback indicates some complexity in the app's functionality, requiring new users to invest time in familiarization [4][14] Group 4: Community Ecosystem - Eastmoney positions itself as a "retail investor base" with 17.21 million monthly active users, leveraging community ecology and fund services [5][16] - The "Stock Bar" community generates over one million posts daily, serving as a market sentiment indicator [5][16] - The platform's trading stability is notable, with feedback results within 300 milliseconds, outperforming competitors during market downturns [5][16] Group 5: Comparative Analysis and Recommendations - A comparative evaluation highlights the strengths of the three leading stock trading apps across key dimensions [7][17] - For cross-market investors, Sina Finance APP is recommended due to its extensive market coverage and AI alert system [7][17] - Short-term traders may prefer Tonghuashun for its Level-2 market depth and institutional-level backtesting environment [8][18] - Learning-oriented investors can benefit from Eastmoney's community discussions and fund services [8][18] Group 6: Trading Experience - Sina Finance APP integrates deeply with over 40 major brokers, allowing users to complete transactions without switching platforms [9][19] - The app's "intelligent routing" system selects the optimal broker channel, with market order execution speed exceeding the industry average by 0.7 seconds [9][19] - In volatile market conditions, the efficiency of decision-making can lead to significantly different investment outcomes [9][19]

Core Insights - The consumer finance industry is experiencing a "stable quantity and improved quality" development trend, supported by policy initiatives and digital transformation, with consumer loans reaching 21.29 trillion yuan by Q3 2025 [1][6] - Digital transformation is a core driving force for the industry, with over 90% of institutions engaging in key digital projects, and 68% focusing on enhancing user activity and transaction volume [1][6] Group 1: Industry Development Overview - The balance of consumer loans reached 21.29 trillion yuan by Q3 2025, with 715 million active credit cards and 1.35 trillion yuan in loans from licensed consumer finance companies, indicating a shift from scale expansion to high-quality development [1][6] - Consumer spending policies are being implemented, with service retail growth outpacing goods retail by 0.2 percentage points, and per capita disposable income and consumption steadily increasing [1][6] - The industry is facing challenges such as intensified competition and difficulties in customer acquisition, leading to performance differentiation among licensed consumer finance companies [2][6] Group 2: Digital Transformation - Over 90% of institutions are implementing key digital projects, with significant applications of AI and large models in marketing, risk control, and customer service [1][6] - 68% of institutions prioritize increasing user activity and transaction volume as a key operational focus, with technology investments exceeding 3% of operating revenue for most institutions [1][6] - Half of the institutions can complete credit card approvals within 10 minutes, and over 40% report improved customer acquisition through self-operated channels, with lower costs for offline acquisition compared to online [1][6] Group 3: User Demand and Experience - The 22-35 age group constitutes over 50% of the consumer finance market, with credit card users averaging 10.4 transactions per month, spending 5,329 yuan [2][6] - Users prefer practical benefits, with promotional activities and interest-free periods being the main motivations for applying for credit cards [2][6] - 38% of users report that card applications take 10-30 minutes, with app downloads and facial recognition being the most time-consuming processes [2][6] Group 4: Future Directions - The industry needs to focus on optimizing customer experience by simplifying application processes and benefit rules, and strengthening customer service systems [2][6] - There is a call for deeper digital construction and the application of AI and large model technologies [2][6] - The integration of credit cards with retail products and the development of differentiated management systems for segmented customer groups are recommended to achieve sustainable high-quality business growth [2][6]

王女士的直观感受背后，中小银行及网点正在加速消失。第一财经记者梳理最新数据发现，截至12月8 日，年内因合并或解散而注销的银行已达377家，较去年全年的190余家大幅增长。与此同时，银行物理 网点正迅速减少。今年已有超过9000家网点获批退出，较去年同期增幅超过200%。 银行正在加速"消失" 银行及其网点数量正快速收缩。据第一财经观察，减少最为明显的区域集中在内蒙古、山东等地。这些 地区正是2010年以来中小银行数量扩张最为迅猛的区域之一。其中，农商行成为受冲击最大的一个类 型。 企业预警通统计数据显示，以最新批复日期统计，截至12月8日，今年因监管批复合并或解散而注销的 银行已达377家，超过去年全年水平。其中，村镇银行注销数量最多，达到218家，占比近六成；农商行 和信用社分别注销79家和70家。 记者注意到，许多被注销的村镇银行实际上是被并入更大规模的银行机构。例如，国家金融监督管理总 局的批复显示，迁安襄隆村镇银行股份有限公司已于11月28日解散，其全部资产、负债、业务、人员及 相关权利义务由收购方唐山银行承继。 "周围的银行网点好像越来越少了。"家住广东东莞的王女士近日发现，自己常去的村镇银行悄然 ...