今日A股互联网金融板块午后迎来强势拉升行情，成为大金融赛道的核心亮点。板块内核心标的瑞达期 货表现尤为亮眼，午后快速封死涨停板，成为板块情绪风向标；科创信息、志晟信息紧随其后同步跟 涨，天玑科技、赢时胜等金融IT细分领域标的积极响应，恒逸石化等产业链相关企业协同上扬，形成覆 盖期货、金融科技、数据服务等多环节的上涨梯队。从交易情况来看，资金进场迹象明确，反映出市场 对互联网金融行业数字化转型潜力与政策红利的高度认可。 数据资产增信融资服务落地，小微企业融资新路径打通：据中国人民银行深圳市分行2025年12月4日发 布的《金融科技创新应用声明书》显示，光大银行深圳分行基于大数据技术的数据资产增信融资服务拟 于12月31日正式运营。该服务通过构建企业数据资产价值评估模型，将数据规模、质量、应用性能等指 标量化，为缺乏传统抵质押物的小微企业提供信贷支持，同时依托深圳数据交易所跨境数据专区，探索 港澳科创企业信贷服务新路径，预计2025-2027年贷款规模将逐步增至2亿元，有效激活数据要素在金融 领域的价值转化。 金融科技发展报告发布，明确AI+数据核心趋势：华夏基金2025年12月10日援引《中国金融科技与数字 金 ...

（原标题：国寿资产新一代投资交易系统上线成功 恒生电子助力打造保险资管行业首家信息技术创新标杆） 在金融信创加速推进与资管行业数字化转型双重驱动下，中国人寿资产管理有限公司（以下简称"国寿资产"）近日成功上线恒生电子新一代投资 交易系统O45，并实现平稳运行。作为国内保险资管领域首个完成全栈信息技术应用创新（信创）改造的核心交易系统，O45不仅标志着国寿资产 在投资交易能力、系统安全性和技术自主性方面迈上新台阶，更树立了行业核心系统升级的"样板工程"，为万亿级资管机构迈向高质量、安全可 控发展提供了可复制、可推广的实施路径。 国寿资产作为国内最大的资产管理机构之一，位居行业前列。在近期国际权威机构Investment & Pensions Europe（IPE）发布的《2025全球资管500 强》榜单中，国寿资产位列第29位，成为亚洲第二、中国首家跻身全球前三十的资产管理机构，彰显了中国资管机构的国际实力与行业影响力。 随着投资规模持续扩大和业务复杂度不断提升，以及金融行业信息技术自主创新战略深入，国寿资产的投资交易系统需要在系统架构、交易性 能、管理容量等方面实现全面升级。 本次项目，O45从指令管理、交易 ...

11月28日,鲲鹏应用创新大赛2025深圳赛区决赛在深圳湾科技生态园圆满落幕。 在激烈角逐中,金证股份凭借"金证做市商交易系统方案",在金融行业应用创新赛道中脱颖而出,荣膺大赛 优秀奖。这一荣誉再次印证了金证在核心交易系统信创化与技术创新领域的深厚积累与实践领先性。 本次赛事作为"科创坐标,湾有引力"深圳湾科技周系列重磅活动之一,以"技术赋能产业,创新驱动未来"为 核心主题,由华为技术有限公司、深圳市金融攻关基地、深圳湾科技发展有限公司及鲲鹏产业源头创新 中心(深圳)有限公司联合主办,旨在汇聚行业智慧,推动深圳数字经济高质量发展与产业生态升级。 本次获奖的金证做市商交易系统,是基于华为鲲鹏全栈技术体系打造的高性能、全品种做市解决方案。 系统全面支持科创板、北交所、股转、基金等多市场做市业务,采用微服务分布式架构与金证自研中间 件,实现低时延、高并发的交易处理能力。 方案深度融合鲲鹏处理器、麒麟操作系统及开源数据库,已完成从硬件、操作系统、数据库到应用系统 的全栈信创适配与调优,并于2023年12月助力客户实现行业首家做市系统信创单轨上线,具备成熟的商用 落地能力。 金证股份坚持金融核心系统自主创新与安全可控。 ...

Core Viewpoint - The construction of a trusted financial data space is essential for ensuring the secure and efficient flow of financial data, enhancing financial services, and supporting the high-quality development of China's financial sector [1][2][16]. Group 1: Necessity of Building a Trusted Financial Data Space - A trusted financial data space provides a credible circulation environment for the market-oriented allocation of financial data elements, enabling orderly value flow while ensuring data remains within its domain [2]. - The rapid digital transformation in finance has led to an increased demand for data sharing and circulation, necessitating a robust framework for data governance and security [2][3]. - The establishment of a trusted financial data space is crucial for optimizing the allocation of financial data elements, addressing issues such as unclear data ownership and lack of pricing mechanisms [2]. Group 2: Security and Risk Management - The trusted financial data space emphasizes privacy protection, utilizing advanced technologies like privacy computing and blockchain to ensure secure and controllable use of financial data [3][6]. - It aims to prevent cross-financial risks through a robust technical foundation that allows for the secure extraction of data value while maintaining data confidentiality [3][6]. Group 3: Supporting Financial Development Initiatives - The trusted financial data space is integral to the successful implementation of key financial initiatives, including technology finance, green finance, inclusive finance, pension finance, and digital finance [3][7]. - It facilitates the integration of data across various sectors, enhancing the ability to assess project benefits and optimize financial services [3][7]. Group 4: Infrastructure and Technological Framework - The trusted financial data space is characterized by a complex ecosystem that integrates advanced technologies, unified standards, and effective governance to provide secure and efficient data circulation services [4][10]. - It relies on a distributed architecture that ensures data authenticity and integrity during cross-institutional flows, supporting innovative business scenarios like cross-border payments and green finance [5][10]. Group 5: Implementation Pathways - The construction of a trusted financial data space requires a phased approach, focusing on high-value scenarios to establish benchmarks and drive broader adoption [8][15]. - Emphasis is placed on building core capabilities and fostering collaboration among various stakeholders to ensure the effective utilization of data resources [8][15]. Group 6: Governance and Regulatory Framework - A multi-faceted governance ecosystem is necessary to clarify the roles and responsibilities of various stakeholders, ensuring effective data sharing and compliance with regulations [14][15]. - The establishment of a clear standard system is crucial for guiding participants in the trusted financial data space, promoting orderly evolution from isolated breakthroughs to coordinated development [11][14].

Core Insights - Shenzhou Information's stock increased by 5.02% on November 18, reaching a price of 19.89 CNY per share, with a trading volume of 2.194 billion CNY and a turnover rate of 11.59%, resulting in a total market capitalization of 19.408 billion CNY [1] Company Overview - Shenzhou Information Technology Service Group Co., Ltd. is located in Haidian District, Beijing, and was established on November 18, 1996, with its listing date on April 8, 1994 [1] - The company's main business includes financial innovation services, intelligent financial services based on 5iABCDs, and cross-industry integrated scenario financial services [1] - The revenue composition of the main business is as follows: software development and technical services 65.72%, system integration 34.22%, and others 0.06% [1] Shareholder Insights - Among the top ten circulating shareholders of Shenzhou Information, Huabao Fund's Huabao CSI Financial Technology Theme ETF (159851) increased its holdings by 4.6308 million shares in the third quarter, holding a total of 9.5053 million shares, which accounts for 0.98% of the circulating shares [2] - The estimated floating profit from this investment is approximately 9.03 million CNY [2] - The Huabao CSI Financial Technology Theme ETF was established on March 4, 2021, with a current scale of 12.319 billion CNY, yielding a return of 17.06% year-to-date, ranking 2998 out of 4212 in its category [2] Fund Manager Performance - The fund managers of Huabao CSI Financial Technology Theme ETF are Chen Jianhua and Cao Xucheng [3] - Chen Jianhua has a cumulative tenure of 12 years and 335 days, with the fund's total asset size at 27.702 billion CNY, achieving a best return of 174.21% and a worst return of -49.65% during his tenure [3] - Cao Xucheng has a tenure of 181 days, with the fund's total asset size at 35.182 billion CNY, achieving a best return of 77.15% and a worst return of -2.38% during his tenure [3]

Core Viewpoint - Lingzhi Software's proposed acquisition of leading domestic financial IT supplier Kaimiride is a significant asset restructuring plan aimed at creating a comprehensive fintech service ecosystem covering multi-tier capital markets, which is expected to substantially enhance the company's performance [1] Group 1: Company Overview - Kaimiride primarily provides software products and services in areas such as fund trading, risk management, liquidity management, digital transformation, and AIGC to over 100 domestic and international financial institutions, including major banks and non-bank financial entities [2] - The company's strong client base, which includes six major state-owned commercial banks and various other financial institutions, provides a solid foundation for sustained revenue growth [2] Group 2: Revenue Characteristics - Kaimiride's revenue recognition exhibits significant seasonality, with IT spending in the banking sector typically showing a "front-low, back-high" pattern, leading to higher revenue recognition in the fourth quarter [2][3] - Analysis of listed banking IT companies indicates that a substantial portion of annual revenue and net profit is concentrated in the fourth quarter, suggesting that investors should focus on annual performance rather than quarterly results [3] Group 3: Industry Trends - The banking IT sector is experiencing positive fundamentals, benefiting from the deepening of financial innovation and the accelerated digital transformation within the banking industry [3] - The ongoing advancements in artificial intelligence, particularly in deep learning and natural language processing, are driving innovation in the AIGC space, prompting Lingzhi Software to upgrade its AI strategy from application to ecosystem building [4] Group 4: Strategic Implications - The integration of Kaimiride is expected to enhance Lingzhi Software's product matrix across various systems in financial institutions, addressing the needs for self-control, digital transformation, and AI applications [4] - This acquisition is anticipated to create a more robust "AI+" ecosystem, potentially serving as a new growth engine for the company's high-quality development [4]

Group 1 - Lingzhi Software (688588.SH) has resumed trading and announced a merger plan to acquire 100% equity of Kaimiride (Suzhou) Information Technology Co., Ltd. through a combination of issuing shares and cash payment, along with raising supporting funds [2][4] - This marks the second major acquisition attempt by Lingzhi Software in three years, shifting focus from overseas to the domestic market, driven by challenges related to reliance on Japanese business and the need for domestic growth [2][3] - Kaimiride, an IT solutions provider focused on the domestic banking sector, is currently facing performance declines and industry price competition, raising questions about the potential synergies from the merger with Lingzhi Software [2][5] Group 2 - Lingzhi Software's previous acquisitions included a cash purchase of 155 million yuan for Zhiming Software Holding (BVI) in late 2023, and a real estate acquisition in Japan for approximately 198 million yuan in 2024, increasing its dependence on the Japanese market [3] - The company's revenue from Japanese operations exceeded 90% in 2024, but this reliance has led to significant volatility in net profit due to fluctuations in the yen exchange rate [3][5] - The shift to domestic acquisitions aims to enhance the company's revenue from domestic financial institutions and reduce risks associated with the Japanese market [3][5] Group 3 - Kaimiride, established in 2013, serves about 70% of large and medium-sized financial institutions in China and holds the largest market share in the banking IT solutions sector [6] - The company has faced challenges in its listing attempts, with its revenue and net profit showing a downward trend from 2023 to 2025, indicating operational difficulties [6][10] - The competitive landscape in the financial IT sector is intensifying, with companies like Kaimiride experiencing pressure from aggressive pricing strategies as firms vie for market share [9][10]

Core Viewpoint - Lingzhi Software aims to reduce reliance on overseas markets and enhance performance stability through the acquisition of 100% equity in Kaimiride [1][3] Group 1: Acquisition Details - Lingzhi Software plans to acquire Kaimiride through a combination of issuing shares and cash payments, with the goal of making Kaimiride a wholly-owned subsidiary [1][3] - The acquisition is expected to constitute a major asset restructuring, with some transaction parties likely to hold over 5% of the company's shares post-transaction [3] - Kaimiride is a leading financial IT supplier in China, providing integrated solutions for capital markets to over 100 domestic and international financial institutions [3][4] Group 2: Financial Performance - Kaimiride's revenue from 2023 to the first nine months of 2025 has shown a decline, with revenues of 2.92 billion, 2.29 billion, and 1.17 billion respectively, and a net profit of 294.93 million, 263.86 million, and a loss of 2.64 million [2][8] - Lingzhi Software's revenue from Japan accounted for 92.44% of its total revenue in the first half of 2025, indicating a high dependency on the Japanese market [1][7] - Lingzhi Software's financial performance has been under pressure, with a revenue decline of 5.57% year-on-year in the first three quarters of 2025, and a net profit decrease of 21.87% [9][10] Group 3: Market Position and Strategy - The acquisition is intended to enhance Lingzhi Software's domestic revenue share and reduce risks associated with reliance on the Japanese market, thereby improving overall business stability [1][7] - Lingzhi Software's primary revenue source is its software development services for Japan, which accounted for 89.23% of its revenue in 2024 [5][7] - The financial IT market is facing pricing pressures and reduced profit margins due to increased competition, which may impact both Lingzhi Software and Kaimiride [9]

Core Viewpoint - Lingzhi Software (688588.SH) resumed trading with a 12.55% increase in stock price to 20.00 yuan following the announcement of a plan to acquire 100% equity of Kaimiride (Suzhou) Information Technology Co., Ltd. through a combination of issuing shares and cash payment [1] Group 1: Transaction Details - The transaction involves issuing shares at a price of 15.31 yuan per share and cash payment sourced from fundraising, self-funds, or bank loans [2] - The total amount of funds raised will not exceed 100% of the transaction price for the asset acquisition, with the number of shares issued not exceeding 30% of the total share capital post-transaction [2] - The transaction is expected to constitute a related party transaction, with some parties potentially holding over 5% of the company's shares post-transaction [2] Group 2: Company Overview - Lingzhi Software is a financial software company focused on software development for the financial sector, including securities, insurance, banking, trust, and asset management [3] - The target company, Kaimiride, is a leading financial IT supplier in China, providing integrated solutions for capital markets and financial institutions [3] Group 3: Financial Performance - Lingzhi Software reported a revenue of 763 million yuan for the first three quarters, a year-on-year decrease of 5.57%, with a net profit of 96.74 million yuan, down 21.87% [5] - The target company is projected to experience a revenue decline of 21.72% and a net profit decline of 10.54% in 2024, with a net loss reported for the first three quarters of 2025 [6]

Group 1 - On November 11, two companies announced significant asset restructuring plans [1] - Shengli Co., Ltd. (000407) plans to acquire gas-related assets controlled by its controlling shareholder and related parties through a combination of issuing shares and cash payments [1] - The transaction targets include 100% equity of Zhongyou Zhuhai held by Zhongyou Investment, 100% equity of Tianda Shengtong held by Tianda Litong, and 51% equity of Nantong Zhongyou and 40% equity of Ganhe Zhongyou held by Zhongyou Zhongtai [1] Group 2 - Lingzhi Software intends to acquire 100% equity of Kaimiride from 20 counterparties, including Shamu Ride and Rao Xi, through issuing shares and cash payments [1] - The target company is a leading financial IT supplier in China's capital market, and the transaction aims to enhance the company's responsiveness to domestic financial institutions' needs for core system localization and data security [1] - This acquisition is expected to strengthen the company's comprehensive service capabilities and market competitiveness in the financial innovation sector [1]