Domestic News - The National Internet Information Office, in collaboration with relevant departments, has drafted the "Guidelines for the Classification and Grading of Financial Information Services Data" to enhance data security in financial services, now open for public consultation [1] - The State Administration for Market Regulation reported that by 2025, China will have established 1,139 new national standard substances, a year-on-year increase of 61.8%. Among these, 67 are first-level national standard substances, accounting for 5.8%, with a year-on-year growth of 21.8%, while 1,072 are second-level, making up 94.2%, with a year-on-year increase of 65.2% [1] Industry News - The China Coal Industry Association announced that by 2025, the national coal production from large-scale enterprises is expected to reach 4.83 billion tons, a year-on-year increase of 1.2%, setting a new historical record [2] - Beijing's measures to promote the development and utilization of commercial satellite remote sensing data from 2026 to 2030 aim to strengthen diverse business entities. The plan encourages internet and geographic information companies to develop value-added services based on commercial satellite data and supports mergers and acquisitions in the satellite data industry [2] - By 2025, Beijing is projected to open over 1.5 million square meters of new commercial space, enhancing consumer supply and establishing new consumption landmarks. This initiative includes the development of key commercial projects and unique pedestrian streets to balance commercial facility distribution across the city [3]

根据征求意见稿，数据级别在分级要素识别、影响对象和影响程度分析的基础上综合确定。数据分 级完成后，应定期检查复核。当数据的业务属性、重要程度和可能造成的危害程度发生变化时应及时更 新。 征求意见稿规定了金融信息服务数据分类分级规则。根据金融信息服务数据在经济社会发展中的重 要程度和敏感程度，以及一旦遭到泄露、篡改、损毁或者非法获取、非法使用、非法共享，对国家安 全、经济运行、社会秩序、公共利益、组织权益、个人权益造成的危害程度，将数据从高到低分为四 级，分别为核心数据、重要数据、敏感一般数据、常规一般数据。 新华社北京1月24日电 为规范金融信息服务数据处理活动，提升金融信息服务的数据安全水平，国 家互联网信息办公室会同有关部门组织起草了《金融信息服务数据分类分级指南（征求意见稿）》，于 24日向社会公开征求意见。意见反馈截止时间为2026年2月23日。 【纠错】 【责任编辑:施歌】 ...

央视网消息：据国家网信办消息，为规范金融信息服务数据处理活动，提升金融信息服务的数据安全水平，依据《中华人民共和国网络安全法》、《中华人 民共和国数据安全法》、《中华人民共和国个人信息保护法》、《网络数据安全管理条例》、《金融信息服务管理规定》等法律法规规章和政策规定，国家 互联网信息办公室会同有关部门组织起草了《金融信息服务数据分类分级指南（征求意见稿）》，现向社会公开征求意见。公众可以通过以下途径和方式提 出反馈意见： （征求意见稿） 1 目的依据 为规范金融信息服务数据处理活动，提升金融信息服务数据安全水平，依据《中华人民共和国网络安全法》、《中华人民共和国数据安全法》、《中华人民 共和国个人信息保护法》、《网络数据安全管理条例》、《金融信息服务管理规定》等法律法规规章和政策规定，参照国家标准GB/T 43697—2024《数据 安全技术 数据分类分级规则》制定本文件。 2 适用范围 1.通过电子邮件方式发送至：shujuju@cac.gov.cn。 2.通过信函方式将意见寄至：北京市海淀区阜成路15号国家互联网信息办公室网络数据管理局，邮编100048，并在信封上注明"金融信息服务数据分类分级 指南征 ...

春节临近，商超消费进入旺季，金融消费安全与权益保护成为公众关注焦点。为深入贯彻国家金融监督管理总局、中国人民银行、中国证券监督管理委员会 关于金融教育宣传的重要部署，切实提升全民金融素养，筑牢金融消费安全屏障。1月23日，由金融界牵头主办、平安银行北京分行支持的金融界投教家园 系列活动 "智惠金融，岁岁平安 —— 新春金融知识普及暨消保投教走进商超公益行"，在物美超市双井店成功举办。 游园式互动，让金融知识 "好玩又好用" 随着金融产品日益复杂，如何有效防范 "虚假理财"、"高额回报" 等风险，从源头上守住老百姓的 "钱袋子"，成为消保工作的重中之重。 与此同时，各金融机构通过易拉宝展示、宣传折页发放、案例演示等多种形式，集中呈现消保工作成果与专业服务能力，为市民提供 "一站式" 金融咨询解 答服务。活动将 "金融消费者八项基本权利""警惕征信洗白骗局""拒绝安全账户转账" 等核心知识点巧妙融入互动环节，不仅吸引了广大成年消费者参与， 更成为亲子共学的热门打卡点。 此次活动突破传统 "说教式" 科普模式，以 "金融游园会" 为载体，精心设置展位展览区、互动游戏区，构建起 "逛场景 — 玩游戏 — 学知识 — ...

智通财经APP讯，捷利交易宝(08017)公布，2026年1月22日耗资约132.05万港元回购85.2万股股份。 ...

证券时报·数据宝统计显示，指南针今日收盘价为128.22元，下跌0.45%，日换手率为2.59%，成交额为 19.97亿元，全天主力资金净流入1022.86万元，近5日该股累计下跌5.24%，近5日资金合计净流出5.33亿 元。 两融数据显示，该股最新融资余额为45.70亿元，近5日减少3773.31万元，降幅为0.82%。（数据宝） 1月22日指南针大宗交易一览 | 成交量（万 | 成交金额（万 | 成交价格 | 相对当日收盘折溢价 | 买方营 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | | 股） | 元） | （元） | （%） | 业部 | | | 5.40 | 692.39 | 128.22 | 0.00 | 机构专 | 中信证券股份有限公司上 | | | | | | 用 | 海分公司 | 指南针1月22日大宗交易平台出现一笔成交，成交量5.40万股，成交金额692.39万元，大宗交易成交价为 128.22元。该笔交易的买方营业部为机构专用，卖方营业部为中信证券股份有限公司上海分公司。 进一步统计，近3个月内该股累计发生11笔大宗交易，合计成交金额为 ...

证券时报·数据宝统计显示，指南针今日收盘价为128.80元，下跌0.50%，日换手率为2.71%，成交额为 21.06亿元，全天主力资金净流出1394.63万元，近5日该股累计下跌9.29%，近5日资金合计净流出13.17 亿元。 指南针1月21日大宗交易平台共发生2笔成交，合计成交量12.80万股，成交金额1408.00万元。成交价格 均为110.00元，相对今日收盘价折价14.60%。 进一步统计，近3个月内该股累计发生10笔大宗交易，合计成交金额为1.35亿元。 两融数据显示，该股最新融资余额为46.16亿元，近5日减少6107.93万元，降幅为1.31%。（数据宝） 1月21日指南针大宗交易一览 | 成交量 | 成交金额 | 成交价 | 相对当日收盘 | | | | --- | --- | --- | --- | --- | --- | | （万 | （万元） | 格 | 折溢价（%） | 买方营业部 | 卖方营业部 | | 股） | | （元） | | | | | 8.20 | 902.00 | 110.00 | -14.60 | 光大证券股份有限公司上海徐 | 申万宏源证券有限 | | | | | ...

Core Viewpoint - Dongwu Securities research report indicates that Tonghuashun expects a net profit attributable to shareholders of 2.7 to 3.3 billion yuan in 2025, representing a year-on-year growth of 50% to 80% [1] - The report highlights a significant recovery in trading activity within the industry, with the average daily trading volume of A-shares expected to increase by 64% year-on-year to 1.73 trillion yuan in 2025 [1] Company Performance - For the fourth quarter, Tonghuashun anticipates a net profit attributable to shareholders of 1.5 to 2.1 billion yuan, reflecting a year-on-year growth of 30% to 77% [1] - The company emphasizes its increased investment in artificial intelligence to enhance core product competitiveness and user experience, leading to rapid growth across various business segments [1] Industry Trends - The capital market's activity level is on the rise, with improved investor confidence and increased demand for retail financial information services [1] - The integration of AI technology is expected to reshape the company's future by enhancing existing business value and expanding new business opportunities [1] Future Outlook - AI is identified as the core strategy for the company moving forward, with the "Ask Finance" model in the Tonghuashun app evolving into a self-evolving intelligent entity [1] - The application of AI is projected to enhance user engagement and willingness to pay, while also enabling the company to provide intelligent solutions to B-end financial institutions, thus opening up a second growth curve [1] Investment Recommendation - Based on the sustained positive activity in the capital market and the company's 2025 performance forecast, the previous profit estimates have been revised upward, maintaining a "buy" rating [1]

国盛证券研报指出，同花顺年报业绩超预期，金融终端领军持续受益市场Beta。全年预计实现归属上市 公司股东的净利润27.35亿元~32.82亿元，同比增加50%~80%；扣非后归母净利润26.47亿元~31.77亿 元，同比增加50%~80%，业绩超预期。国内资本市场活跃度持续回升，投资者信心修复，市场交投活 跃度明显提升。同花顺网站与APP用户活跃度提升，公司大力拓展生活、消费、科技类客户；同时证 券、基金等金融客户需求有所增加，公司广告及互联网推广服务收入相应增长。问财大模型HithinkGPT 未来可期，推动前沿大模型技术应用。公司业务与证券市场活跃度存在高度相关性，随着资本市场活跃 度的提升，根据公司业绩预告，预计2025-2027年营业收入分别为64.58/83.03/102.99亿元，归母净利润 分别为29.72/39.25/49.91亿元。维持"买入"评级。 ...

Summary of Key Points from the Conference Call Company Overview - The company discussed is Tonghuashun, which is involved in the financial technology sector, particularly focusing on AI and data services. Core Insights and Arguments - **2025 Earnings Forecast**: Tonghuashun has projected a net profit attributable to shareholders between 2.73 billion to 3.28 billion yuan for 2025, representing a year-on-year growth of 50% to 80% [1] - **Quarterly Breakdown**: If the upper limit is achieved, the company expects to realize net profits of 120 million, 380 million, 700 million, and 2.08 billion yuan for Q1 to Q4 respectively, with year-on-year growth rates of +15%, +47%, +144%, and +77% [1] - **Contract Liabilities**: The high level of contract liabilities as of Q3 2025, amounting to 2.52 billion yuan, is seen as a significant indicator of growth for 2025-2026 [2] Additional Important Information - **AI Data Advantage**: The company emphasizes its competitive edge in AI, attributed to substantial investment in information fees, comprehensive data interfaces, and authentic data sources for large model evaluations. This has led to the publication of six papers in top-tier conferences in 2025 [3] - **Market Position**: Tonghuashun has achieved a monthly active user base of 36.7 million, with a market share of 21%, which is twice that of its competitor, Dongfang Caifu [3] - **Future Growth Potential**: The company aims to leverage its AI capabilities to potentially convert 10% of its projected 40 million monthly active users into paying customers, which could lead to a profit of 10 billion yuan if each pays an average of 100 yuan per month [3] - **Valuation Metrics**: Currently, the company is trading at a price-to-earnings ratio of 40x, with historical bull market averages around 70x, indicating a potential upside of 75% [3] - **Expansion Plans**: The company has announced plans to expand its AI robotics team, showcasing its commitment to integrating AI into more real-world business scenarios [3]