Core Viewpoint - The cross-border payment sector has recently experienced a pullback after a significant rise, leading to market speculation about its future strength [3] Company Summaries - Qingdao Kingking's main products include "new material candles and aromatherapy products" and "cosmetics," with 75.45% of its revenue, amounting to 1.353 billion yuan, coming from overseas sales in 2024 [4] - Hai Lian Jin Hui holds various payment licenses, including "cross-border RMB payment" and "Hong Kong money service operator license," providing comprehensive payment services and cross-border settlement [5] - New Morning Technology has developed multiple core products and solutions, including a blockchain BaaS platform, and emphasizes the application of artificial intelligence in enhancing operational efficiency for banks [5] - Lakala offers a comprehensive payment solution for merchants, including cross-border payment services, and has served over 90,000 merchants in its cross-border payment business [6] Industry Insights - Recent government initiatives signal a push for the internationalization of the digital yuan and the enhancement of the cross-border payment system, laying a foundation for its practical application [8] - The global trade landscape is being reshaped by U.S. tariff policies, prompting companies to reconsider their supply chain strategies, which may benefit domestic supply chain enterprises and the cross-border payment sector [8] - Future development paths for global cross-border payment models include creating payment systems based on local currencies, expanding coverage through national payment systems, and leveraging blockchain technology [9]

经中国证监会查明，恒宝股份在未充分评估和审慎了解专网通信业务实质的情况下，即将业务按照销售 和采购合同发生金额确认营业收入和营业成本，构成虚增营业收入，导致恒宝股份披露的2017年至2020 年年度报告存在虚假记载。2017年虚增营业收入16,066.97万元，虚增营业收入金额占当年披露营业收入 的11.74%。2018年虚增营业收入74,281.73万元，虚增营业收入金额占当年披露营业收入的43.95%。 2019年虚增营业收入39,939.50万元，虚增营业收入金额占当年披露营业收入的26.01%。2020年虚增营 业收入5,959.03万元，虚增营业收入金额占当年披露营业收入的5.66%。 目前，恒宝股份索赔案已进入中后期阶段，多批投资者已向法院提交立案材料，现仍在持续推进后续案 件的立案工作，也在继续接受其他投资者的索赔委托。符合条件的受损股民，为维护自身合法权益，减 少损失，请尽快联系相关律师团队，了解具体索赔流程和所需材料，积极加入索赔队伍。 对于此，衡财保·炜衡金融315团队的邓律师向投资快报记者（微信：tz315-wh）表示，初步判断在2018 年4月27日至2022年9月2日（含当日）之间买 ...

Core Viewpoint - The recent developments in the cross-border payment system, particularly the enhancement of the CIPS and the promotion of digital trade, are expected to create new growth opportunities for the cross-border payment industry [4][5]. Group 1: Market Performance - As of April 25, 2025, the China Securities Financial Technology Theme Index (930986) increased by 0.80%, with notable gains in constituent stocks such as Hengbao Co., Ltd. (10.00%) and Guiding Compass (5.97%) [3]. - The Financial Technology ETF (516860) rose by 0.69%, with a latest price of 1.17 yuan and a turnover rate of 4.31% during the trading session, amounting to 36.17 million yuan in transactions [3]. - Over the past year, the Financial Technology ETF has achieved an average daily transaction volume of 72.95 million yuan [3]. Group 2: Policy and Industry Outlook - The People's Bank of China and other departments have proposed enhancing the functionality and global coverage of the CIPS, aiming to encourage more banks to join the system [3]. - The State Council's strategy to implement a free trade pilot zone is expected to promote high-level opening-up, which will support the cross-border payment industry [3][4]. Group 3: Financial Technology ETF Performance - The Financial Technology ETF has seen a net value increase of 55.68% over the past year, ranking first among comparable funds [5]. - The ETF's highest monthly return since inception was 55.92%, with an average monthly return of 10.57% [5]. - The ETF's management fee is 0.50%, and its tracking error is 0.043%, indicating high tracking precision compared to similar funds [5]. Group 4: Top Holdings - As of March 31, 2025, the top ten weighted stocks in the China Securities Financial Technology Theme Index accounted for 54.32% of the index, with stocks like Tonghuashun and Dongfang Caifu being the most significant [6][8].

4月24日，沪指盘中窄幅震荡，北证50指数大幅下探；港股回调走低，恒生指数一度跌超1%，恒生科技 指数一度跌超2%。 具体来看，沪指盘中窄幅震荡，尾盘小幅上扬，北证50指数大跌超3%。截至收盘，沪指微涨0.03%报 3297.29点，深证成指跌0.58%报9878.32点，创业板指跌0.68%报1935.86点，科创50指数跌近1%，北证 50指数跌3.44%，沪深北三市合计成交11391亿元，较昨日减少1235亿元。 场内近3700股飘绿，信创、云计算、算力概念等下挫，跨境支付概念回调，东方通（300379）、拉卡拉 （300773）跌超10%；电力板块拉升，乐山电力（600644）、华银电力（600744）、西昌电力 （600505）等涨停；银行板块上扬，农业银行、工商银行、中国银行涨约2%，再创历史新高；医药板 块活跃，金凯生科（301509）、尔康制药（300267）、凯莱英（002821）等涨停；宠物经济概念崛起， 天元宠物（301335）20%涨停，乖宝宠物（301498）、中宠股份（002891）再创新高。值得注意的是， 近日的强势股安记食品（603696）（603696）、国芳集团（60108 ...

Market Overview - A-shares experienced fluctuations with the three major indices showing mixed results, closing with the Shanghai Composite Index up 0.03%, the Shenzhen Component down 0.58%, and the ChiNext down 0.68% [2] - A total of 1,545 stocks rose, 64 stocks hit the daily limit up, while 3,694 stocks declined [3][4] - The total trading volume reached 11,389.19 billion, with a total trading amount of 98,586.2 million [4] Sector Performance - The pet consumption sector saw strong performance, with Tianyuan Pet, Zhongchong Co., and Yiyi Co. hitting the daily limit up [5] - Electric power stocks collectively surged, with Leshan Electric, Huayin Electric, and Xichang Electric all reaching the daily limit up [7] - Banking stocks maintained strength, with the three major banks (ICBC, ABC, and BOC) continuing to set historical highs [9] Notable Declines - The cross-border payment sector declined, with Lakala dropping over 10% [11] - Other notable declines included New Guodu down 9.47% and New Kaipu down 8.91% [12] External Factors - Hong Kong stocks fell over 1%, attributed to uncertainty surrounding U.S. trade policies and Federal Reserve positions [13] - The Ministry of Commerce held a roundtable meeting with foreign enterprises to address the impact of U.S. tariffs on foreign investment in China, emphasizing the importance of foreign companies in maintaining global economic order [16][17] Investment Insights - Citigroup analysts recommend increasing exposure to Chinese real estate stocks, citing expected improvements in profitability due to policy support and better management practices [18] - HSBC analysts also expressed a positive outlook for the real estate sector, highlighting favorable conditions for structural recovery due to low interest rates and limited supply [19]

Group 1 - The core viewpoint of the news highlights the performance of the China Securities Digital Economy Theme Index, which has seen a decline of 1.14% as of April 24, 2025, with mixed results among constituent stocks [1] - The top-performing stocks include Desay SV Automotive, which rose by 1.97%, and iFlytek, which increased by 0.58%, while Runze Technology led the decline with a drop of 11.14% [1] - The Digital Economy ETF has also experienced a decrease of 0.92%, with a latest price of 0.76 yuan, and a trading volume of 6.22 million yuan [1] Group 2 - Recent proposals from the central bank and other departments aim to enhance the functionality and global coverage of the Cross-Border Interbank Payment System (CIPS), which is expected to open new growth opportunities for the cross-border payment industry [2] - The digital transformation and advanced technologies are driving the upgrade of the cross-border payment system, with a focus on the collaboration between CIPS and digital RMB [2] - The government’s guidance and corporate innovation are anticipated to foster a positive interaction that will expand the cross-border payment market and support the comprehensive upgrade of the payment system [2] Group 3 - As of March 31, 2025, the top ten weighted stocks in the China Securities Digital Economy Theme Index account for a total of 50.55%, with notable companies including Eastmoney Information and SMIC [3] - The weightings of the top stocks include Eastmoney Information at 8.12% and SMIC at 6.58%, with most stocks showing slight declines [5]

智通财经4月24日电，午后拉卡拉跌超10%，信雅达逼近跌停，新国都、中亦科技、吉大正元、宇信科 技、四方精创均跌逾5%。 跨境支付概念持续走弱 拉卡拉跌超10% ...

Core Viewpoint - Guangdong is becoming a significant engine for China's import and export trade, with a first-quarter foreign trade import and export value of 2.14 trillion yuan, a 4.2% increase year-on-year, surpassing the national growth rate of 2.9% [1][2]. Group 1: Payment Needs and Challenges - Convenience and low fees are common requirements for cross-border payment services among enterprises [3][7]. - Companies emphasize the need for quick and compliant overseas payment solutions, with a focus on local currency conversion and efficient fund management [3][4]. - The logistics industry prioritizes real-time payment processing and transparent fee structures, highlighting the need for digital and automated solutions [5][6]. Group 2: Accelerating Global Expansion - The complexity of international logistics and fragmented foreign trade orders presents significant challenges for companies going global [8]. - A robust payment platform should provide a unified account system, support multi-currency transactions, and ensure compliance and security [9]. - Companies are increasingly targeting non-U.S. markets, with a focus on Europe, Central Asia, Southeast Asia, and Africa, adapting to local consumer behaviors and cultural practices [11][12].

Core Viewpoint - The article discusses the significant impact of U.S. tariff policies on global trade, prompting Chinese financial institutions to innovate in cross-border payment and trade finance to support businesses in navigating these challenges and exploring new opportunities for international expansion [1][2]. Group 1: Cross-Border Payment Innovations - In response to the U.S.-China trade conflict, companies are seeking new markets abroad, leading to a surge in demand for innovative cross-border payment solutions [3]. - Alibaba's 1688 platform has introduced measures to assist export-restricted businesses, such as providing advance payment services for orders to help alleviate cash flow issues [3]. - Financial institutions, including JPMorgan, are focusing on developing comprehensive solutions for businesses, such as automated cross-border payments and multi-currency account services, to enhance operational efficiency and reduce costs [3][4]. Group 2: Financing Support for Domestic Market Transition - Many companies are shifting their focus to the domestic market due to external pressures from U.S. tariffs, with banks collaborating with e-commerce platforms to facilitate this transition [5]. - Financial institutions are offering specialized credit loans to support industries most affected by tariffs, such as textiles and light manufacturing [5][6]. - The Chinese government has encouraged financial institutions to provide support for the transition of export products to domestic sales, as outlined in the 2020 policy document [6]. Group 3: Enhancing Payment Efficiency - Despite increasing uncertainties in international trade, technological advancements are becoming crucial for overcoming challenges [6]. - Ant Financial's WorldFirst has launched a "Guard Plan" to provide a comprehensive suite of cross-border trade financial services, enhancing the operational capabilities of small and medium-sized enterprises [7]. - The "Guard Plan" aims to improve fund circulation efficiency by 30%, thereby increasing competitiveness and reducing costs for domestic cross-border trade enterprises [7].

一、证监会正式发声！正式发声，上市公司要主动担负起稳市值、稳市场、稳信心的责任，把市值管理当成一项长期战略管理行为，这可是个明智的选择。 市值管理对资本市场的长期稳定发展至关重要。所以，接下来A股市场有望继续反弹，修复上涨行情。 不过，咱也不是好糊弄的，现在都清楚证监会的一些制度漏洞。要是能把这些漏洞补上，比如废除量化、暂停融券卖空、把股指期货交割调到每月一次、严 格限制做空手数、暂停大股东减持、建立退市赔偿制度，那就能达到持续稳市场的目标，也符合新规，维护普通投资者的利益。不然，这不是让人觉得我们 傻吗？ 二、不用猜了，A股市场明日反弹压力3328点，强压力3358点。 周二大盘低开高走，继续震荡反弹小幅上涨，收盘小阳线，报收3299点，沪深两市共计成交1.1万亿左右，成交量环比继续小幅放大。 大盘指数继续小阳上攻，近期这种碎步小阳线已经连着8根了，A股这一波韧性十足。接下来就看会不会有更大的利好释放了，要是超预期，那小阳打底之 后，就该大阳突破了。 三、连续小阳打底，难道还有大阳突破？周三股市有望迎来大涨！ 看着挺平庸的，指数分化窄幅震荡，整个市场是涨跌持平，涨停也只有九十家，可今天市场真实情况是赚钱效应 ...