在国家大力推动普惠金融发展,全力破解小微企业融资难题的关键时期,2025年4月25日14:00,一场聚焦金融创新与小微企业发展的盛会 —— 由中共北京市委 金融委员会办公室主办的北京畅融工程活动,于北京市京师律师大厦盛大启幕。本次活动邀请了北京地区20余家银行参与,更有超百家企业代表到场,共同见证 金融科技赋能小微企业融资的重要时刻。活动中,华城瑞讯(北京)信息科技有限公司无疑成为全场瞩目的焦点,其人工智能创新成果为小微企业融资困境带来 了新的曙光。 活动开场,中国中小企业协会朱玉先生发表致辞,强调了小微企业在国民经济中的重要地位,以及金融科技对小微企业发展的关键推动作用。14时15分,华城瑞讯 重磅推出自主研发、全国首创首发的 人工智能22°智・融资Agent,并在现场开展企业应用体验。这款人工智能 Agent 基于deepseek大模型并通过企业服务垂直 领域深度学习,能够不断优化和提升自身的分析与决策能力。它构建了高度智能化且高质量的金融服务模型,该Agent不仅依托先进算法架构与强大的海量金融 大数据分析能力,精准洞察小微企业在融资过程中的痛点与需求,还通过对企业经营数据、财务状况、信用记录等多维度信 ...

一、主要会计数据和财务指标 | 报告期指标 | 2025年一季报 | 2024年一季报 | 本年比上年增减(%) | 2023年一季报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 0.0700 | -0.0100 | 800 | 0.0200 | | 每股净资产（元） | 0 | 4.96 | -100 | 4.11 | | 每股公积金(元) | 0.9 | 1.47 | -38.78 | 0.82 | | 每股未分配利润(元) | 1.76 | 2.22 | -20.72 | 2.06 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 5.29 | 3.79 | 39.58 | 3.7 | | 净利润(亿元) | 0.3 | -0.03 | 1100 | 0.08 | | 净资产收益率(%) | 1.79 | -0.19 | 1042.11 | 0.61 | 数据四舍五入，查看更多财务数据>> 二、前10名无限售条件股东持股情况 前十大流通股东累计持有： 2694.31万股，累计占流通股比： 7.53%，较上期变化 ...

一、主要会计数据和财务指标 | 报告期指标 | 2024年年报 | 2023年年报 | 本年比上年增减(%) | 2022年年报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 0.1090 | -0.3289 | 133.14 | -0.5150 | | 每股净资产（元） | 0 | 2.62 | -100 | 2.87 | | 每股公积金(元) | 1.22 | 1.3 | -6.15 | 1.35 | | 每股未分配利润(元) | 0.25 | 0.15 | 66.67 | 0.43 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 9.9 | 8.88 | 11.49 | 7.79 | | 净利润(亿元) | 0.15 | -0.46 | 132.61 | -0.73 | | 净资产收益率(%) | 4.04 | -11.99 | 133.69 | -16.46 | 数据四舍五入，查看更多财务数据>> 前十大流通股东累计持有： 5628.9万股，累计占流通股比： 44.18%，较上期变化： -256.50万股。 ...

Core Viewpoint - The acquisition of Yao Cai Securities by Shanghai Yun Jin, a subsidiary of Ant Group, is expected to drive business growth and digital transformation for Yao Cai Securities, enhancing its position as a leading trading platform backed by advanced technology [1][3]. Company Overview - Yao Cai Securities, founded in 1995 and listed on the Hong Kong Stock Exchange in 2010, specializes in securities brokerage, margin financing, commodities and futures brokerage, and spot financial trading [5]. - The company currently holds a 12% market share in Hong Kong's retail brokerage business [8]. Acquisition Details - Shanghai Yun Jin has made a cash offer of HKD 3.28 per share for approximately 50.55% of Yao Cai Securities, totaling HKD 28.14 billion, with a 10% deposit already paid [3][4]. - The offer price represents a premium of about 17.6% over the last closing price of HKD 2.79 and an 18.8% premium over the average closing price of the previous 30 trading days [5]. Financial Impact - The acquisition is expected to inject HKD 28 billion into Yao Cai Securities, significantly improving its capital adequacy and liquidity, thereby enhancing its risk resilience [3][6]. - Yao Cai Securities reported a net asset value of HKD 0.7 per share, indicating a premium of 368.6% over the acquisition price [6]. Market Context - The Hong Kong securities industry is facing challenges, with over 30 brokerage firms closing since January 2024, leading to a fluctuating business environment for Yao Cai Securities [9]. - The company's revenue for the fiscal years 2022 to 2024 showed fluctuations, with total revenues of HKD 12.50 billion, HKD 11.99 billion, and HKD 12.36 billion, reflecting year-on-year changes of -19.96%, -4.04%, and 3.09% respectively [9]. Strategic Advantages - The collaboration between Ant Group's wealth management platform and Yao Cai Securities is expected to leverage the growth of southbound capital, enhancing customer resources, technological capabilities, and market resources [3][8]. - Ant Group aims to utilize advanced technologies such as AI and big data in Yao Cai Securities' operations, potentially creating new revenue streams and improving overall business value [10].

Investment Rating - The investment rating for the computer industry is "Strongly Outperform the Market" and is maintained [1]. Core Viewpoints - The report highlights a significant increase of 43% in CIPS transactions, indicating an acceleration in the internationalization of the Renminbi [1][22]. - The cross-border digital payment industry is experiencing continuous growth, with the market size reaching 7.5 trillion RMB in 2024 [22][24]. - The integration of CIPS and digital RMB is transforming the cross-border payment landscape, with digital RMB trials expanding to 129 countries and regions [22][24]. Summary by Sections Section 1: Cross-Border Payment System - CIPS + Digital RMB - CIPS is a wholesale payment system dedicated to Renminbi cross-border payment and settlement, aimed at enhancing efficiency and security in cross-border transactions [7][9]. - Digital RMB, issued by the People's Bank of China, is a legal digital currency that supports various payment scenarios and is equivalent to physical cash [11]. Section 2: CIPS Growth and Globalization of Renminbi - The cross-border digital payment industry is projected to grow significantly, with CIPS processing 821.69 million transactions worth 175.49 trillion RMB in 2024, marking a year-on-year increase of 42.60% [22][24]. - The demand for cross-border payments is surging due to the rise of e-commerce platforms and the "Belt and Road" initiative, which enhances payment needs in emerging markets [24][26]. Section 3: Investment Opportunities in Technology and Applications - Investment opportunities are identified in the underlying technologies for digital RMB, including blockchain and smart contracts, which are crucial for its implementation [36]. - The report emphasizes the need for hardware upgrades to support digital RMB transactions, with companies like Guangdian Yuntong and Lakala poised to benefit from this demand [36][39]. - The digital RMB's programmability offers innovative solutions for supply chain finance and cross-border trade, with companies like Yuxin Technology and Changliang Technology expected to take on more customized projects [36][39]. Section 4: Target Identification - The report outlines potential investment targets related to digital RMB and CIPS, focusing on companies that are positioned to benefit from the growth of cross-border payment systems and digital currency applications [48].

Group 1 - Hong Kong's tech innovation sector is rapidly developing, with a growing number of startups and increasing support from various sectors [1][2] - The company Simo Technology has become a unicorn within 18 months, benefiting from Hong Kong's rich talent pool and supportive ecosystem [1][2] - Approximately 2,200 tech companies are currently operating in Hong Kong Science Park, employing around 15,000 research personnel [2] Group 2 - Simo Technology serves nearly 300 large global manufacturing enterprises, contributing to Hong Kong's new industrialization [2] - The integration of Hong Kong's research capabilities with Shenzhen's manufacturing strengths creates an efficient innovation cycle [4][5] - The Hong Kong government aims to enhance the tech ecosystem and attract global talent, with over 460,000 applications received for talent programs by March 2023 [5][6] Group 3 - The digital port in Hong Kong has nurtured numerous unicorn companies and serves as a hub for digital technology and AI acceleration [2][3] - The collaboration between Hong Kong and the Greater Bay Area is crucial for the success of startups, providing a robust supply chain and market demand [4][5] - The focus on innovation and technology is seen as a new economic engine for Hong Kong, with key industries including AI, robotics, and life sciences [6]

截至2025年4月18日，金融科技ETF近1年夏普比率为1.35。 回撤方面，截至2025年4月24日，金融科技ETF今年以来相对基准回撤0.44%。 截至2025年4月25日 11:30，中证金融科技主题指数(930986)上涨0.80%，成分股恒宝股份(002104)上涨10.00%，指南针(300803)上涨5.97%，银信科技(300231) 上涨5.83%，恒银科技(603106)上涨3.09%，东华软件(002065)上涨2.95%。金融科技ETF(516860)上涨0.69%，最新价报1.17元。流动性方面，金融科技ETF盘 中换手4.31%，成交3617.07万元。拉长时间看，截至4月24日，金融科技ETF近1年日均成交7294.82万元。 近日，央行等四部门方案提出提升人民币跨境支付系统（CIPS）功能和全球网络覆盖，推动更多银行加入CIPS。另外，国务院部署实施自由贸易试验区提 升战略，推进高水平对外开放。政策导向有望支撑跨境支付行业打开新的增长空间。 国泰海通证券认为，数字化转型以及前沿科技助力跨境支付体系升级。CIPS与数字人民币的协同推进以及自由贸易试验区加速试点数字贸易，明确了未来 ...

Core Insights - Nanyang Commercial Bank ("NCB") and Fosun International Limited ("Fosun") signed a strategic cooperation agreement, marking a deepening of their partnership and commitment to support Fosun's future development strategy [1][3] Group 1: Strategic Cooperation - The signing of the strategic cooperation agreement signifies a long-term, stable, and deep financial partnership between NCB and Fosun, entering a new phase of collaboration [3] - NCB will leverage its experience in cross-border operations to provide professional banking services, combining with Fosun's global and industrial advantages for mutual benefit and development [3] Group 2: Historical Context - NCB and Fosun have been collaborating since 2010, establishing a solid foundation for their partnership over the past fifteen years [3] - The cooperation has allowed both entities to build a strong relationship, paving the way for deeper ties in the future [3] Group 3: Future Directions - NCB aims to continue working alongside high-quality enterprises like Fosun, utilizing its strengths in cross-border operations and integrating financial technology and AI to enhance product and service offerings [3] - The goal is to provide comprehensive and high-quality financial services to support Fosun's strategic development and achieve mutual benefits [3]

前十大流通股东累计持有： 16522.36万股，累计占流通股比： 63.01%，较上期变化： 89.34万 股。 | 名称 持有数量(万股) | | 占总股本比例(%) | 增减情况(万股) | | --- | --- | --- | --- | | 北京市国有资产经营有限责任公司 | 7085.58 | 27.02 | 不变 | | 首都信息发展（300469）股份有限公司 | 7083.59 | 27.01 | 不变 | | 徐敏 | 597.48 | 2.28 | 1.00 | | 上海西上海（605151）投资发展有限公司 | 533.07 | 2.03 | 不变 | | 上海西上海资产经营有限公司 | 481.53 | 1.84 | 不变 | | 香港中央结算有限公司 | 216.09 | 0.82 | 新进 | | 詹榜华 | 180.19 | 0.69 | 不变 | | 杨华均 | 124.81 | 0.48 | 1.47 | | 黄娜 | 110.71 | 0.42 | 不变 | | 华宝中证金融科技主题ETF | 109.31 | 0.42 | -17.80 | | 较上个报告期退出前十大股 ...

Overview of Operating Performance - The total operating revenue for the company in 2024 was 4.693 billion, a year-on-year decrease of 24.56% [1] - The net profit attributable to shareholders was -202 million, a year-on-year decrease of 154.81% [1] - The net profit after deducting non-recurring items was -246 million, a year-on-year decrease of 193.09% [1] - In Q4, the total operating revenue was 1.215 billion, a year-on-year decrease of 44.09% [1] - The net profit attributable to shareholders in Q4 was -86.98 million, a year-on-year decrease of 126.5% [1] Profitability Analysis - The gross profit margin was 23.25%, a decrease of 2.15 percentage points year-on-year [2] - The net profit margin was -3.9%, a decrease of 167.09 percentage points year-on-year [2] - Earnings per share were -0.21, a year-on-year decrease of 154.62% [2] - The net asset value per share was 3.85, a year-on-year decrease of 6.65% [2] - Operating cash flow per share was 0.81, a year-on-year increase of 339.4% [2] Cost and Expense Analysis - The ratio of operating expenses (selling, administrative, and financial expenses) to revenue was 12.39%, an increase of 30.1% year-on-year [3] - Selling expenses decreased by 15.01% year-on-year due to a reduction in personnel and lower employee compensation [3] - Financial expenses decreased by 93.73% year-on-year due to increased investment income and reduced loan interest and bill settlement fees [3] Asset and Liability Analysis - Cash and cash equivalents were 1.619 billion, a year-on-year increase of 1.87% [4] - Accounts receivable were 425 million, a year-on-year decrease of 53.13% due to decreased revenue and increased credit impairment losses [4] - Interest-bearing liabilities were 786 million, a year-on-year decrease of 41.09% [4] - Inventory was 171 million, a year-on-year decrease of 45.35% due to the contraction of the IT equipment distribution business [4] Cash Flow Analysis - The net cash flow from operating activities was 324 million, a year-on-year increase of 339.95% due to reduced cash payments for goods and services [5] - The net cash flow from investing activities was -124 million, a year-on-year decrease of 124.07% due to increased cash payments for investments [5] - The net cash flow from financing activities was -172 million, a year-on-year decrease of 701.92% due to reduced cash received from borrowings [5] Business Structure Analysis - Revenue from hardware business was 2.07 billion, accounting for 44.11% of total revenue, with a gross profit margin of 4.46% [6] - Revenue from customized and system integration services was 1.305 billion, accounting for 27.80% of total revenue, with a gross profit margin of 26.86% [6] - Revenue from software business was 1.23 billion, accounting for 26.20% of total revenue, with a gross profit margin of 48.64% [6] - Revenue from technology park leasing was 80.25 million, accounting for 1.71% of total revenue, with a gross profit margin of 62.02% [6] Development Review and Outlook - The financial technology industry faced a complex external environment in 2024, with reduced IT investment from financial institutions and extended project cycles [7] - The company responded to challenges through strategic focus, product innovation, and contraction of non-core businesses [7] - The company adjusted its revenue structure to focus on the financial technology core business and maintained investment in core technologies [7] - The company actively developed proprietary technology and launched integrated solutions to support various investment businesses, signing contracts with multiple brokerage clients [7]