A股跨境支付板块调整，*ST仁东盘中触及跌停，京北方、吉大正元、四方精创、优博讯、拉卡拉、天 阳科技等跟跌。 ...

Group 1 - The core viewpoint is that stablecoins may reshape the current cross-border payment landscape, which is based on correspondent banks and clearing houses, especially following recent regulatory developments in the US and Hong Kong [1][2] - The emergence of compliant stablecoins could allow cross-border payments to operate outside traditional bank account systems, utilizing token wallets on blockchain networks, thus offering advantages in processing time and cost [2][3] - Concerns are raised regarding the potential impact of stablecoins and CBDCs on traditional financial institutions, as the current correspondent banking model is perceived as "slow and expensive," failing to meet customer demands for speed and cost efficiency [2][3] Group 2 - Swift's platform currently ensures that over 90% of cross-border payments reach the recipient's bank within one hour, with half of those transactions completed within five minutes [3] - The costs associated with Swift's messaging service are relatively low, at one euro cent per message, but the perception of slowness and expense arises from various regulatory and operational challenges [3][4] - Future compliance requirements for stablecoins, such as KYC and AML, may introduce additional costs and complexities, potentially mirroring some of the existing challenges faced by traditional systems [3][4] Group 3 - Swift emphasizes its role in supporting any compliant currency or exchange form, including stablecoins and CBDCs, as it aims to enhance interoperability and prevent the formation of "digital islands" [4][5] - The connection between blockchain systems and traditional banking is identified as a key value area for Swift, facilitating the conversion of digital assets to fiat currencies and ensuring compliance with regulatory requirements [4][5] - Swift's ongoing experiments aim to address the fragmentation of global applications and enhance the adoption of digital assets, with a series of tests conducted to simulate transactions across different payment systems [6] Group 4 - Swift is integrating AI into its platform to tackle challenges in cross-border payments, including data privacy and regulatory differences, enhancing capabilities in fraud detection and compliance [6]

Core Insights - The launch of the "Cross-Border Payment Link" marks a significant advancement in cross-border payment systems, enabling real-time transactions between mainland China and Hong Kong in both Renminbi and Hong Kong Dollar [1][2] - The system leverages blockchain technology to reduce transaction times from 1-5 working days to seconds and cut fees by 80%, enhancing the efficiency of cross-border payments [2] - The regulatory framework for stablecoins is evolving, with Hong Kong's new regulations set to take effect, requiring stablecoin issuers to maintain a 1:1 reserve and undergo quarterly audits [4][6] Group 1: Cross-Border Payment Link - The "Cross-Border Payment Link" officially launched on June 22, 2025, connecting the mainland's interbank payment system with Hong Kong's Fast Payment System [1] - Initial use cases include tuition payments, medical fees, and salary disbursements, with transaction limits increased from 10,000 to 100,000 [2] - This infrastructure supports the internationalization of the Renminbi and enhances financial integration in the Guangdong-Hong Kong-Macao Greater Bay Area [2] Group 2: Stablecoin Development - The introduction of the "Cross-Border Payment Link" presents a historic opportunity for stablecoins, allowing settlement times to be reduced to minutes [4] - Hong Kong's new stablecoin regulations will require issuers to hold at least 80% of their reserves in cash and government bonds, limiting high-risk assets [6] - Major companies like JD.com and Ant Group have applied for licenses, indicating a trend towards compliant stablecoins being integrated into the "Cross-Border Payment Link" [4] Group 3: Market Response and Growth - The global stablecoin market is projected to exceed $1.8 trillion, reflecting a 120% increase from 2024, driven by regulatory compliance [6] - USDC's market share has risen to 42%, positioning it as a preferred stablecoin for cross-border payments [6] - Companies such as Standard Chartered and Zhenrong Bank are actively participating in stablecoin sandbox tests, exploring asset custody models [4][6] Group 4: Related Companies - Sifang Jingchuang is the only A-share company involved in the central bank's mBridge project, with a projected 300% increase in orders by 2025 [8] - Changliang Technology has deep ties with the Vietnamese central bank, with overseas revenue exceeding 25% and recent wins in cross-border payment projects [9] - New Morning Technology reported a 200% year-on-year increase in cross-border payment revenue in Q1 2025, providing stablecoin custody solutions for Standard Chartered [10] - JD Group's subsidiary is in the second phase of Hong Kong's stablecoin sandbox testing, aiming to launch a Hong Kong Dollar/US Dollar stablecoin within the year [11]

中国上市公司网/文 指数表现 上证指数：开盘3380.08点，最高3423.78点，最低3380.08点，收盘3419.06点，上涨38.98点，涨幅 1.15%，成交金额5448.82亿元。 深证成指：开盘10074.27点，最高10224.12点，最低10074.27点，收盘10217.63点，上涨169.23点，涨幅 1.68%，成交金额3069.48亿元。 创业板指：开盘2024.70点，最高2065.84点，最低2024.70点，收盘2066.43点，上涨46.50点，涨幅 2.30%，成交金额996.84亿元。 沪深300：开盘3862.39点，最高3914.16点，最低3862.39点，收盘3908.52点，上涨46.13点，涨幅 1.19%。 中证500：开盘5683.46点，最高5766.02点，最低5683.46点，收盘5744.54点，上涨91.67点，涨幅 1.61%。 上证50：开盘2685.85点，最高2731.18点，最低2685.85点，收盘2717.00点，上涨31.15点，涨幅1.16%。 资金流向 北向资金：6月以来北向资金累计净流入A股627.30亿元，截至24日，当月 ...

点击按钮▲立即报名 阿里希望重塑用户对于淘宝App的认知，尽可能多地将各类消费塞进一个App中，最大化利用内部流量，京东和美团也在做类似的尝试。各大平 台的补贴措施减弱后，消费者是否会认可这种"超级消费App"，现在还不得而知。 美团全面拓展即时零售业务 内地与香港跨境支付通正式上线 6月23日消息，内地与香港快速支付系统互联互通（简称"跨境支付通"）近日正式上线。通过内地网上支付跨行清算系统与香港快速支付系统"转 数快"直接连接，跨境支付通支持用户通过参与机构的手机银行、网上银行等渠道，依托手机号码、银行账户等，线上发起内地与香港间人民币 和港币的跨境汇款，经常项目项下一定金额内的汇款可实时到账。 目前，首批参与跨境支付通的内地机构包括工商银行、农业银行、中国银行、建设银行、交通银行、招商银行；香港机构包括中银香港、东亚银 行、建银亚洲、恒生银行、汇丰银行、工银亚洲，后续将逐步扩大参与范围。（综合新华社） ｜点评｜ 和传统的跨境汇款相比，跨境支付通的优势主要在两方面，时效性提高和手续费成本降低。内地和香港的往来越发频繁，无论是投 资、旅游，还是求学、工作需要，资金流通的频率和规模都在增加。传统的跨境支付系统 ...

必读要闻三：产能释放叠加规模化效应，这类材料应用场景不断拓展 据报道，曾经的"航天专属"，现在变成了"民品神器"，碳纤维材料应用场景不断拓展，也给更多行业带 来了新机遇。一台电动垂直升降飞行器，机身材料超70%用的是碳纤维复合材料，航程可以增加15%到 20%。预计到2030年，电动垂直起降飞行器领域对碳纤维的需求将增至1.17万吨，形成超百亿级的新兴 市场。 碳纤维及其复合材料，凭借优越的性能已在航空航天、汽车、新能源开发、休闲用品等领域得到广泛的 应用。技术突破，让曾经每吨20万元左右的T300级碳纤维，如今价格仅6万元左右，降幅达70%。产能 释放与规模化效应，让碳纤维从航天材料等高端领域"飞入"民用领域。用得起、用得上碳纤维的行业越 来越多。数据显示，2024年，我国碳纤维市场规模约171.4亿元，产量同比增长8.16%，出口同比增幅达 119.9%，在全球市场的竞争力显著提升。 必读要闻四：机构称政策加速推进下固态电池正进入从0到1阶段 媒体报道，近期，多家企业陆续披露了其在固态电池领域的最新进展和量产时间。业界认为，凭借高能 量密度、高安全性和快速充电能力，固态电池有望成为下一代电池的主流技术路线 ...

今天A股震荡上行，两市股指午后在券商、银行等板块的带动下发力走高，强势修复。 除了白酒，几乎无板块下跌。A股全天 成交1.15万亿，整体量能还 是不够。大金融继续护盘，大科技开始回暖。大 资金显然还在观望中，谨慎不敢动，短期A股或大概率维持震荡行情。 板块上，石油板块今日再度走强，截至收盘，茂化实华连续3日涨停，准油股份近7日斩获6个涨停板，泰山石油亦涨停，贝肯能源、通源石油涨超7%。 今天霍尔木兹海峡，持续刷屏！据最新消息，两艘超级油轮在霍尔木兹海峡突然掉头，驶离波斯湾入口。随着美国加入攻击伊朗核设施，中东形势有进一 步扩大趋势，预计油价将大幅上行，短期内油价将持续高位波动。 跨境支付概念股掀涨停潮， 四方精创 、 恒宝股份 、 中科金财 、 神州信息 、 海联金汇 、 吉大正元 涨停。 最近，跨境支付领域十分火热！ 中国人民银行与香港金管局近日联合启动了"跨境支付通"，已有银行上线运行。这标志着内地与香港快速支付系统实现互联互通，今后两地居民可实时办 理跨境汇款。 展望7月份，中旬会迎来上市公司业绩预告披露高峰，超预期和悲观业绩预期落地都是下一个阶段A股的重点布局方向，行业配置预计主要围绕中报业绩 持续改 ...

Group 1 - The market has shown an initial stabilization signal but has not fully confirmed a bottom yet, as the major indices collectively rose but only slightly broke through the key level of 3380 points, closing at 3381 points [1] - There is still resistance from the 10-day moving average, indicating that without breaking multiple moving averages, the index may face further pressure [2] - Although the market volume increased, the total trading volume in the Shanghai and Shenzhen markets only slightly exceeded 500 billion, suggesting that the signal for large capital inflow remains unclear, which does not align with a confirmed market bottom [2] Group 2 - The leading sectors that contributed to the market's rise, such as banks, non-ferrous metals, and brokerages, had limited gains, generally around 1%, indicating weak momentum [2] - The stocks that rose were primarily old hotspots affected by previous geopolitical events, such as oil and military sectors, which may provide short-term trading opportunities but are unlikely to drive a significant upward breakthrough in the market [2] - Overall, while the market has provided an initial stabilization action, it has not yet fully confirmed a bottom [2]

Market Overview - A-shares rose across the board in the afternoon session, with the Shanghai Composite Index up nearly 1% at one point, closing at 3381.58 points, a gain of 0.65% [1] - The Shenzhen Component Index increased by 0.43% to 10048.39 points, while the ChiNext Index rose by 0.39% to 2017.63 points [1] - The Northbound trading saw a strong performance with the Northbound 50 Index up 1.54%, and total trading volume across the three exchanges reached 1.1471 trillion yuan, an increase of approximately 55 billion yuan from the previous day [1] Sector Performance Oil Sector - The oil sector continued its strong performance, with stocks like Maohua Shihua hitting the limit up for three consecutive days, and Zhun Oil shares achieving six limit-ups in seven days [3][4] - Other notable performers included Taishan Petroleum and Beiken Energy, both of which saw gains exceeding 7% [3] - The geopolitical situation, particularly the U.S. attacks on Iranian nuclear facilities, is expected to drive oil prices significantly higher, with Brent crude futures projected to break $80 per barrel [5] Shipping Sector - The shipping sector also experienced a surge, with stocks like Ningbo Shipping and Baoshui Technology hitting the limit up, and several others including Lianyungang and Ningbo Ocean also reaching their daily limits [5] - The strategic importance of the Strait of Hormuz, through which a significant portion of global oil trade passes, has heightened concerns about potential disruptions due to geopolitical tensions [6] Cross-Border Payment Sector - The cross-border payment sector saw strong gains, with stocks like Sifang Precision and Ubo Xun hitting the limit up, and Lakala rising by approximately 13% [8][9] - The launch of the cross-border payment system between mainland China and Hong Kong is expected to enhance payment efficiency and service levels, with significant growth projected in the global cross-border payment market [10] Cobalt Sector - The cobalt sector showed significant activity, with stocks like Tengyuan Cobalt rising over 15%, and others like China Ruilin and Hanrui Cobalt also seeing substantial gains [12] - The extension of the cobalt export ban by the Democratic Republic of the Congo is anticipated to create supply shortages and drive prices higher, with expectations of a second wave of price increases in the cobalt market [14]

| 代码 名称 | � | 涨幅% | 现价 | 涨跌 | 买价 | 实价 总量 | | --- | --- | --- | --- | --- | --- | --- | | 000637 茂化实华 | | 10.06 | 5.36 | 0.49 | 5.36 | - 313924 | | 002207 淮油股份 | . | 9.98 | 10.58 | 0.96 | 10.58 | - 110.4万 | | 000554 泰山石油 | R | 9.97 | 8.27 | 0.75 | 8.27 | l 100.0万 | | 002828 贝肯能源 | . | 7.75 | 13.07 | 0.94 | 13.07 | 13.08 830935 | | 300164 通源石油 | 1 | 7.65 | 7.74 | 0.55 | - | 7.74 250.77 | | 603353 和顺看油 | | 7.00 | 18.96 | 1.24 | 18.95 | 18.96 194995 | | 600506 统一股份 | | 5.64 | 20.78 | 1.11 | 20.77 | 20.78 268471 ...