Group 1 - The core viewpoint of the news is that Beijing Yuxin Technology Group Co., Ltd. (Yuxin Technology) has submitted an application for a dual listing on the Hong Kong Stock Exchange, aiming to accelerate its global financial technology strategy [2] - Yuxin Technology has over 20 years of experience in the industry and is a leading provider of financial technology solutions in China, offering a comprehensive range of services to banks and non-bank financial institutions [2] - According to data from Zhaoshang Consulting, Yuxin Technology ranked first in the A-share listed companies in the banking financial technology solutions market for three consecutive years from 2022 to 2024, with a market share of 2.10% in 2024 [2] Group 2 - The company's net profit attributable to shareholders has shown continuous growth from 2022 to 2024, reaching CNY 253 million, CNY 326 million, and CNY 380 million, with a year-on-year growth rate of 16.62% in 2024 [3] - Yuxin Technology's overseas business has become a new growth engine, with overseas revenue increasing by 121.25% year-on-year in the first half of 2025, accounting for 1.16% of total revenue, and a gross margin of 68.70% [3] - The company's first phase of its overseas digital currency project has successfully launched and entered a regulatory sandbox for verification, with initial success in expanding into Southeast Asia, the Middle East, and European markets [3]

Core Viewpoint - Yuxin Technology Group Co., Ltd. is making a second attempt to launch an IPO on the Hong Kong Stock Exchange after its initial application failed in June 2023, aiming to raise funds for global expansion and technology development [1][5]. Financial Performance - Revenue for Yuxin Technology from 2022 to 2024 is projected to be 4.281 billion yuan, 5.2 billion yuan, and 3.954 billion yuan, respectively, with a 24% year-on-year decline in 2024 [2][7]. - Net profit is expected to increase from 253 million yuan to 384 million yuan during the same period, reflecting a 16% year-on-year growth in 2024 [2][7]. - Operating profit is anticipated to rise from 263 million yuan to 342 million yuan, marking a 10.3% increase [2][7]. - In the first nine months of 2025, revenue is reported at 2.186 billion yuan, down 7% year-on-year, while net profit is 279 million yuan, up 6.48% [8]. Business Structure - The core of Yuxin Technology's business is its banking technology solutions, which accounted for 87.5% of revenue in 2024, including software development and services (gross margin of 32.3%) and integration services (gross margin of 11.7%) [4][9]. - The company has a broad client base, serving over 1,000 banking clients, including the People's Bank of China and major state-owned banks, but has a high client concentration with the top five clients contributing 42.3% of revenue in 2024 [4][9]. Market Position - Yuxin Technology ranks second in the Chinese banking technology solutions market by revenue from 2022 to 2024, and first among listed companies in China, with a market share of 2.1% projected for 2024 [1][6]. - The company has consistently held the top position in online banking solutions and regulatory reporting solutions from 2022 to 2024 [1][6]. Shareholder Structure - As of September 30, 2025, the largest shareholder is founder Hong Weidong, holding 24.18% through Zhuhai Yuqin Hongtai Venture Capital Group, followed by Baidu with 3.64% [4][9]. Challenges - Yuxin Technology faces challenges such as fluctuations in integration business orders, declining gross margins in operational services, and a low proportion of overseas revenue (less than 1% in 2024) [5][10].

Core Viewpoint - Yuxin Technology Group has submitted a prospectus for a Hong Kong IPO, marking the initiation of its A+H dual capital platform strategy to support its global expansion [1][2] Company Overview - Founded in 1999, Yuxin Technology is a financial technology solution provider operating in both domestic and international markets, serving a wide range of financial institutions with product-oriented full-stack technology solutions [1] - The company has established a solid market position and gained industry recognition through over 20 years of experience and a comprehensive product portfolio [1] Business Structure - Yuxin Technology's core revenue comes from three main segments: banking technology solutions, non-banking technology solutions, and operational services [1] - The banking and non-banking technology solutions include credit business, digital banking, financial regulation, data services, and intelligent finance, while operational services focus on ecosystem cooperation and partnerships [1] Financial Performance - The financial data in the prospectus indicates a fluctuating revenue trend, with revenues of 4.281 billion yuan, 5.199 billion yuan, 3.954 billion yuan, and 2.183 billion yuan for the years 2022 to 2024 and the first three quarters of 2025, respectively [1] - Revenue is projected to decline by 24% in 2024, primarily due to a strategic shift towards larger, higher-value projects and a reduction in lower-margin integration business, which saw revenue drop from 1.7 billion yuan in 2023 to 740 million yuan in 2024 [1] Profitability - Despite significant revenue decline, Yuxin Technology's profitability has improved, with net profits of 253 million yuan, 330 million yuan, 384 million yuan, and 257 million yuan for the years 2022 to 2024 and the first three quarters of 2025, with a 16.5% increase in net profit for 2024 [2] - The volatility in revenue highlights the uncertainty of client orders, particularly for large integration projects, posing challenges to the company's business sustainability [2] Strategic Initiatives - The funds raised from the Hong Kong IPO will primarily be used to accelerate global expansion, advance AI and other advanced technology research, and potential investments and acquisitions [2] - Yuxin Technology has already begun operations in Southeast Asia and signed multiple overseas projects, marking a significant step in its internationalization efforts [2] - The establishment of the A+H dual capital platform is seen as a crucial measure to address industry competition and business sustainability challenges while pursuing global fintech development opportunities [2] Future Challenges - The company faces multiple challenges in its internationalization efforts, including localization adaptation, cross-border compliance, and geopolitical issues [2] - Balancing revenue scale with profit quality while consolidating transformation results will be key to achieving long-term development [2]

Company Overview - Yuxin Technology, established in 1999, is one of the earliest companies in China to provide technology solutions for the financial industry, offering full-stack technology solutions to a wide range of financial institutions [4] - The company focuses on three main business areas: banking technology solutions, non-banking technology solutions, and operational services, covering the entire value chain of financial institutions [4] - Yuxin Technology has developed a comprehensive operational service system that supports digital marketing, digital retail credit, and digital inclusive finance for small and medium-sized financial institutions [4] Market Position - According to a report by Zhaoshang Consulting, Yuxin Technology ranked second in the banking fintech solutions market among all Chinese companies from 2022 to 2024, with a market share of 2.1% in 2024 [1] - The company also ranked first among Chinese listed companies in the same category during the same period [1] - Yuxin Technology has a broad customer base, including over 1,000 clients in the banking fintech sector, and serves various financial institutions, including central banks, state-owned banks, and foreign banks [5][6] Financial Performance - The company's revenue for the fiscal years 2022, 2023, and projected for 2024 is RMB 4.28 billion, RMB 5.20 billion, and RMB 3.95 billion respectively [7][8] - Gross profit for the same periods is RMB 1.12 billion, RMB 1.34 billion, and RMB 1.14 billion, with corresponding gross profit margins of 26.1%, 25.7%, and 28.8% [9][10] - Net profit for the fiscal years 2022, 2023, and projected for 2024 is RMB 253 million, RMB 330 million, and RMB 384 million respectively [11] Industry Overview - The fintech solutions market is expected to grow significantly, with global financial institutions' technology spending projected to increase from approximately RMB 2.8 trillion in 2020 to RMB 4.2 trillion by 2024, representing a compound annual growth rate (CAGR) of about 10.4% [12] - In China, the fintech solutions market is expected to grow from RMB 152 billion in 2020 to RMB 236 billion by 2024, with a CAGR of approximately 11.6% [21] - The demand for fintech solutions is driven by the increasing digital transformation of financial institutions, which is expected to continue to accelerate in the coming years [17][19]

Company Overview - Yuxin Technology Group Co., Ltd. (宇信科技) was established in 1999 and is one of the earliest companies in China to provide technology solutions for the financial industry, operating in both domestic and overseas markets [4] - The company focuses on three main business areas: banking technology solutions, non-banking technology solutions, and operational services, covering the entire value chain of financial institutions [4][5] - Yuxin Technology has developed a comprehensive operational service system that supports small and medium-sized financial institutions in achieving revenue and profit growth [4] Market Position - According to a report by Zhaoshang Consulting, Yuxin Technology ranked second in the banking fintech solutions market among all Chinese companies from 2022 to 2024, and first among listed companies in China, with a market share of 2.1% in 2024 [1] - The company has a broad customer base, including over 1,000 clients in the banking fintech sector, and serves various financial institutions, including central banks, state-owned commercial banks, and foreign banks [5][6] Financial Performance - The company's revenue for the fiscal years 2022, 2023, and projected for 2024 is RMB 4.281 billion, RMB 5.199 billion, and RMB 3.954 billion respectively [7][8] - Gross profit for the same periods is RMB 1.119 billion, RMB 1.335 billion, and RMB 1.140 billion, with corresponding gross profit margins of 26.1%, 25.7%, and 28.8% [9][10] - Net profit for the fiscal years 2022, 2023, and projected for 2024 is RMB 253 million, RMB 330 million, and RMB 384 million respectively [11] Industry Overview - The fintech solutions market is expected to grow significantly, with global technology spending by financial institutions projected to increase from approximately RMB 2.8 trillion in 2020 to RMB 4.2 trillion by 2024, representing a compound annual growth rate (CAGR) of about 10.4% [12][14] - In China, the fintech solutions market is anticipated to grow from RMB 152 billion in 2020 to RMB 236 billion by 2024, with a CAGR of approximately 11.6% [21] - The demand for fintech solutions is driven by the increasing digital transformation of financial institutions, which is expected to enhance operational efficiency and reduce costs [12][14][17]

Core Viewpoint - Beijing Yuxin Technology Group Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange for the second time this year, indicating its ongoing efforts to expand its market presence and capitalize on growth opportunities in the fintech sector [1] Company Overview - Yuxin Technology is a publicly listed Chinese fintech solution provider operating in both domestic and international markets, offering product-oriented full-stack technology solutions to a wide range of financial institutions [1] - The company's main business segments include banking technology solutions, non-banking technology solutions, and operational services, highlighting its diverse service offerings [1] Business Segments - The banking and non-banking technology solutions encompass credit business, digital banking, financial regulatory services, data services, and intelligent financial services, showcasing the company's comprehensive approach to fintech [1] - The operational services are characterized by ecosystem cooperation and partnerships, indicating a strategic focus on collaboration within the industry [1]

Core Viewpoint - Beijing Yuxin Technology Group Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, marking its second attempt this year after an initial submission on June 18 [1] Group 1: Company Overview - Yuxin Technology is a publicly listed Chinese fintech solution provider operating in both domestic and overseas markets [1] - The company offers product-oriented full-stack technology solutions to a wide range of financial institutions [1] Group 2: Business Segments - The main business segments of Yuxin Technology include banking technology solutions, non-banking technology solutions, and operational services [1] - Banking and non-banking technology solutions encompass credit business, digital banking, financial regulatory services, data services, and smart financial services [1] - The company emphasizes operational services characterized by ecosystem cooperation and partnerships [1]

The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of Yusys Technologies Co., Ltd. 北京宇信科技集團股份有限公司 (the "Company") (A joint stock company incorporated in the People's Rep ...

Group 1 - The core point of the article is that Beijing Yuxin Technology Group Co., Ltd. (Yuxin Technology) submitted its Hong Kong IPO prospectus on June 18, which became invalid after six months on December 18, with Huatai International and BNP Paribas serving as joint sponsors [1] Group 2 - Yuxin Technology is a Chinese fintech solution provider operating in both domestic and overseas markets, offering product-oriented full-stack technology solutions to a wide range of financial institutions [2] - The company's main business segments include banking technology solutions, non-banking technology solutions, and innovative operational services, with a focus on credit business, digital banking, financial regulatory business, data business, and intelligent finance [2] - Yuxin Technology has established a broad customer base, achieving a penetration rate of 100% among the People's Bank of China, policy banks, state-owned banks, and joint-stock commercial banks [2]

Group 1 - The recent surge in interest for stablecoins has created a common growth point for Hong Kong, US, and A-shares [1] - Circle, known as the "first stablecoin stock," went public on June 5, and its stock price increased sevenfold within a few trading days [2] - Following this, Guotai Junan International announced it received a virtual asset license, leading to a 198% stock price increase the next day [2] Group 2 - Beijing Yuxin Technology Group Co., Ltd. is pursuing an IPO in Hong Kong, having submitted its prospectus on June 18 [3] - The company aims to enhance its global strategy and accelerate overseas business development, with a current market capitalization of approximately 19.5 billion RMB [3] - Yuxin Technology is a fintech solution provider, claiming a 100% penetration rate among major Chinese banks [6][15] Group 3 - Yuxin Technology's revenue sources include bank technology solutions, non-bank technology solutions, and innovative operational services [7] - The revenue from bank technology solutions for 2022, 2023, and 2024 was 37.55 billion RMB, 46.64 billion RMB, and 34.61 billion RMB, respectively [10] - The company has experienced revenue fluctuations, with total revenues of 42.81 billion RMB, 51.99 billion RMB, and 39.54 billion RMB over the past three years [12] Group 4 - The fintech solutions market in China is projected to grow from 152 billion RMB in 2023 to 235.5 billion RMB in 2024, with a compound annual growth rate of approximately 11.6% [22] - Yuxin Technology holds a 2.1% market share in the bank technology solutions sector, making it the largest listed provider in this segment [27] - The competitive landscape includes major players such as Changliang Technology and Hangseng Electronics, with Yuxin Technology maintaining its leading position for three consecutive years [27]