Financial Performance - In Q1 2025, the company reported revenue of 3.481 billion RMB and a net profit of 738 million RMB [1] - The transaction volume for the quarter reached 52.1 billion RMB, representing a year-on-year growth of 7.9% [1] - The loan balance stood at 74.1 billion RMB, showing a year-on-year increase of 13.5% [1] Strategic Initiatives - The company maintains a robust growth trajectory driven by technological innovation and diversified strategies [1] - As of the end of Q1, the company has provided digital services to 114 domestic financial institutions and credit technology services to over 27.3 million users [1] - The company served 442,000 domestic micro and small enterprises in Q1, facilitating transaction volumes of nearly 15 billion RMB, which accounted for 30% of the domestic transaction volume [1] International Business Development - The company's international business has entered its eighth year, establishing localized fintech platforms in multiple countries [2] - International business transaction volume exceeded 3 billion RMB for the first time, with a year-on-year growth of 36% [2] - Revenue from international operations reached 710 million RMB, reflecting a year-on-year increase of 19.5%, constituting 20.4% of the company's total revenue for the quarter [2]

智通财经APP获悉，香港财经事务及库务局局长许正宇昨晚出席香港新质生产力论坛后会见传媒时表 示，香港一直以来要做的不只是融资中心，香港特区政府希望能够以金融为手段，吸引更多产业在香港 落地。特区政府非常欢迎内地优质企业来香港落户，不只是做融资或持续集资，而是通过香港平台"走 出去"，例如是在香港设产业链。为配合这个趋势，公司迁册制度本周五（23日）亦会生效。 许正宇称，面对美国朝令夕改的关税政策，香港一直以来的定位及应对很清晰，当全球政策存在众多不 确定，更需要一个枢纽、连通者，将这些不稳定性进一步降低，并继续维持整体稳定的营商环境，这正 是香港能够提供的。 对于美国关税对中国有90日缓冲期，香港应如何应对，他表示，无论外围环境变化如何，当局一直谨守 岗位。金融市场有一个全天候、联动式、跨市场的监控，确保在看到有特殊情况时，能够迎击；而同一 时间要持续深耕金融优势，做好基本功，那面对任何的外在环境，都能够适时应对。 继续多渠道进行人民币国际化 最近有些人说美元体系正在崩塌，那可能对于人民币国际化是一个好的机遇，许正宇指，香港已是国家 最大的境外人民币枢纽，现时境外八成人民币交易通过香港进行，香港已积累逾万亿元 ...

Financial Data and Key Metrics Changes - The company reported a significant turnaround from headwinds in 2023 to tailwinds in 2024, highlighted by a recent share buyback announcement [13] - The payment revenue has shown a remarkable growth with a compound annual growth rate (CAGR) of 123% from 2023 to 2024 [15] - The overall deposit base has increased by 31% off balance sheet, indicating a positive trajectory for the company's franchise value [16] Business Line Data and Key Metrics Changes - The fintech banking segment has experienced a gross deposit CAGR of 29% and gross fees CAGR of 86%, despite a slight decline in 2024 due to exiting the digital space [18] - The gaming vertical holds an impressive 84% market share, contributing to the company's growth strategy [14] Market Data and Key Metrics Changes - The company has nearly $500 million in gaming deposits, showcasing its strong position in the gaming market [15] - The overall market for the products and services offered by the company has markedly improved in recent months, creating a favorable environment for growth [21] Company Strategy and Development Direction - The company's strategy focuses on being trusted partners on the financial frontier, emphasizing values such as respect, commitment, and teamwork [14] - The growth vehicles identified include software as a service, banking as a service, and a strong emphasis on payments, which is rapidly growing [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, noting that the climate and market conditions for their products and services have improved significantly [21] - The company aims to maintain strong asset quality and capital ratios, positioning itself for future growth [19] Other Important Information - The company has appointed two new directors to the board, which is expected to enhance its governance and strategic direction [2][8] - The meeting included discussions on executive compensation and the appointment of an independent registered public accounting firm for 2025 [10][11] Q&A Session Summary - No specific questions were recorded during the Q&A session, indicating a smooth approval process for the proposals presented [11]

Group 1: Industry Trends - The Asian asset management industry is undergoing significant transformation due to rising costs and changing investor demands, creating new opportunities for growth [1][2] - The International Monetary Fund has downgraded growth forecasts for major Asian economies, indicating a potential global slowdown, with varying impacts across different economies [1][2] - Despite challenges from trade tariffs and geopolitical tensions, the commitment to clients remains strong, with a focus on long-term strategies in retail, wealth, and institutional business [1][2] Group 2: Digital Transformation - The asset management industry is at a critical juncture of digital revolution, leveraging cloud computing, machine learning, artificial intelligence, and blockchain to enhance productivity and reduce costs [2] - Increased market volatility and evolving investor behavior are prompting a more diversified demand from investors, necessitating agile responses and dynamic monitoring [2] Group 3: Cross-Border Opportunities - The company emphasizes the importance of cross-border sales opportunities, particularly in meeting the growing demand for Asian products, especially in India and China [2] - Recent strategic acquisitions and partnerships have strengthened the company's market position and expanded its product offerings in real estate and energy transition infrastructure [2] Group 4: Future Outlook - Despite severe market challenges, there are unique opportunities for innovation and growth, with a commitment to resilience and agility in responding to changes [3]

Group 1 - The forum emphasized the importance of accelerating the development of domestic and international dual circulation, with a focus on enhancing cross-border payment and clearing systems for the renminbi as a crucial infrastructure and driving force [1] - Significant achievements in the development of renminbi cross-border payment and clearing have been made, including the establishment of the China International Payment System (CIPS) and increased cooperation with SWIFT [1] - The emergence of new business models in the cross-border payment and clearing sector, particularly the development of stablecoins linked to fiat currencies, is highlighted as a response to the limitations of traditional payment systems [2] Group 2 - The rise of stablecoins, particularly those pegged to the US dollar, necessitates attention from other countries due to their potential impact on monetary systems [2] - The need for new technologies to enhance the efficiency and reduce costs of currency operations is emphasized, alongside the importance of stringent risk control measures [2] - The suggestion is made for the domestic industry and academia to pay greater attention to the development of stablecoins and to further promote the digital renminbi [2] Group 3 - Current challenges in financial technology development in China include issues such as redundant construction, data silos, and security risks, which hinder high-quality growth [3] - The proposal to build centralized digital infrastructure based on the digital renminbi model aims to address these challenges by enabling comprehensive transaction data collection and precise tracking [3] - Potential breakthroughs in identity management through digital IDs could lead to significant changes in digital currency, digital assets, digital finance, and the digital society [3]

智通财经APP获悉，5月20日，香港财经事务及库务局局长许正宇出席香港新质生产力论坛系列之一 ——建设世界一流资本市场论坛后会见传媒时表示，应该从三个方向去努力，去推动香港成为一个国际 级的一流资本市场。第一方面就是不断去拓展原有的金融价值链，由股票、债券，去到货币、商品。所 以现在推动人民币国际化，推动黄金市场的建立，推动有色金属仓储，就是要拓展金融价值链。 第二个大方向是开创新的金融领域，包括金融科技、虚拟资产、稳定币和绿色金融。这个星期，很快便 会去争取立法会的支持，建立稳定币的法律规管框架，这方面在巿场的需求也很大，所以下一步必须要 持续创新和拓展新的巿场。 财经事务及库务局局长谈资本巿场 以下是财经事务及库务局局长许正宇今日(五月二十日)出席香港新质生产力论坛系列之一——建设世界 一流资本市场论坛后会见传媒的谈话内容： 记者：局长，我们知道中美关系很紧张，所以想问香港在这方面可以起到什么作用，还可以做什么? 财经事务及库务局局长：面对美国朝令夕改的关税政策，其实我们一直以来的定位及应对是很清晰的， 就是我们是以一个稳定和具预见性的角度应对不确定性。因为当全球有这么多不确定性的政策，更加需 要有一个枢 ...

Market Overview - A total of 102 stocks hit the daily limit up in the A-share market, with 77 stocks remaining after excluding 25 ST stocks, resulting in a limit-up rate of 70.83% [1] Limit-Up Stocks - The highest limit-up order volume was for Tianqimo with 881,500 hands, followed by ST Lingnan, Zongyi Shares, and Palm Shares with 806,100 hands, 767,600 hands, and 407,200 hands respectively [2] - Notable stocks with consecutive limit-ups include *ST Lvkang with 5 consecutive limit-ups, and *ST Jinguang, Liren Liren, Zhengzhong Design, and *ST Hengjiu with 4 consecutive limit-ups [2] Mergers and Acquisitions - The China Securities Regulatory Commission (CSRC) recently announced modifications to the "Management Measures for Major Asset Restructuring of Listed Companies," which has led to multiple stocks in the mergers and acquisitions sector hitting the limit-up [3] - Tianqimo plans to acquire 50% equity of Dongshi Shares [4] - Zongyi Shares intends to gain control of Jilaiwei through cash capital increase or share transfer [5] - Oufeiguang plans to purchase 28.2461% equity of Oufeimicroelectronics (Nanchang) through share issuance and cash payment [5] Pet Economy - Stocks related to the pet economy that hit the limit-up include Yuanfei Pet, Tianyuan Pet, and Yiyi Shares [6] - Yuanfei Pet has launched high-end baking staple food and freeze-dried products under its own brand [7] - Tianyuan Pet is expanding its pet food business to enhance domestic sales channels [7] - Yiyi Shares has established a comprehensive online and offline channel layout for its brands [7] Cultural and Creative Economy - Stocks related to the cultural and creative economy that hit the limit-up include Chuangyuan Shares, Aofei Entertainment, and Guangbo Shares [9] - Chuangyuan Shares focuses on "IP + Technology + Cultural Creation" and aims to develop a product matrix with creative and practical value [9] - Aofei Entertainment continues to invest in content creation, leveraging popular IPs like "Pleasant Goat and Big Big Wolf" [9] - Guangbo Shares plans to expand its IP derivative product line by 2025 [9] Institutional Investment - Institutional net purchases exceeded 300 million for Zhongzhou Special Materials, with Oufeiguang, Liyang Chip, and Zhongzhou Special Materials being the top three net purchases [10][11] - Specific net buying amounts include 311 million for Oufeiguang and 233 million for Liyang Chip [11]

在金融科技的浪潮中，五大行保函业务正站在变革的风口浪尖。想象一下，银行家们不再是西装革履、手持放大镜的老派形象，而是变成了手持平板电脑、 穿梭于代码和数据之间的现代金融侠客。这正是金融科技给五大行保函业务带来的革命性变化。 术的应用，监管机构也在不断更新规则，以适应金融科技的发展。五大行需要紧跟监管的步伐，确保在创新的同时，不触犯法规的红线。 首先，让我们来聊聊金融科技如何让保函业务变得更加"聪明"。区块链技术的应用，就像是给保函业务装上了一台"信任发动机"。通过区块链，交易双方的 信息可以实时共享，而且一旦记录，就不可篡改。这不仅提高了交易的透明度，还大大降低了欺诈风险。想象一下，如果所有的保函都记录在区块链上，那 么"空头支票"将成为历史，因为每一张保函都能被追踪和验证。 接下来是人工智能（AI）的加入，它就像是金融侠客的智能助手。AI可以分析大量的历史数据，预测市场趋势，甚至在风险管理中发挥作用。通过AI，银 行可以更准确地评估企业的信用风险，从而为客户提供更合理的保函条件。这就像是给银行家们配备了一副能够看穿未来的"透视眼镜"。例如，犀牛卫平台 通过大数据分析、多维度数据分析、实时处理技术和精准的风险 ...

在俄罗斯占据移动支付头把交易的T-Bank，其前身Tinkoff Bank是由俄罗斯企业家奥列格·廷科夫于2006年创立的；早期通过邮寄发卡、在线申请和电话客服 吸引用户，并迅速占领俄罗斯信用卡市场。2010年后，该企业推出移动银行应用，整合多种金融服务（如贷款、投资、保险），成为"一站式"金融平台。 2022年俄乌冲突爆发后，Tinkoff Bank因俄罗斯金融机构身份而受到西方制裁，创始人奥列格·廷科夫在选择放弃俄罗斯国籍的同时，出售了自己持有的股份 并辞去职务。Tinkoff Bank向外扩张和国际化的尝试也因此中止，业务转向俄罗斯国内收缩。三年过去，更名后的T-Bank业务蒸蒸日上，截至2023年，拥有 超3000万客户（最新数据显示其客户量已经超过5000万），成为俄罗斯第二大银行。 T-Bank位于莫斯科的总部大楼 作者供图 目前移动支付在欧美国家的推广仍然有限，但在被封锁制裁的俄罗斯遍地开花。在莫斯科访问期间，我们同T-Bank的战略传播负责人亚历山大·列昂诺夫 （Alexander Leonov，Head of Strategic Communications at T-Bank 就俄罗斯移动 ...

截至2025年5月20日 11:30，中证金融科技主题指数(930986)上涨0.31%，成分股新晨科技(300542)上涨6.11%，格灵深瞳(688207)上涨3.74%，*ST汇科 (300561)上涨3.01%，新致软件(688590)上涨2.16%，古鳌科技(300551)上涨1.83%。金融科技ETF(516860)上涨0.34%，最新价报1.2元。流动性方面，金融科 技ETF盘中换手2.27%，成交2058.12万元。拉长时间看，截至5月19日，金融科技ETF近1周日均成交7863.27万元。 5月13日，7部门联合发布《加快构建科技金融体制有力支撑高水平科技自立自强的若干政策举措》，推动金融资源进入科技创新领域各环节，聚焦人工智 能、量子科技、氢能储能等前沿领域，以及生物制造、具身智能、6G等政府工作报告中提及的领域，为科技创新提供全生命周期的金融服务。 金融科技ETF紧密跟踪中证金融科技主题指数，中证金融科技主题指数选取产品与服务涉及金融科技相关领域的上市公司证券作为指数样本，以反映金融科 技主题上市公司证券的整体表现。 规模方面，金融科技ETF近2周规模增长6175.68万元，实现显著增长 ...