Financial Performance - In Q4, non-GAAP revenue increased by 7.5% and non-GAAP operating margin was 23.2%, reflecting a margin expansion of 146 basis points year-over-year [8][9] - For the fiscal year, non-GAAP revenue reached $2.3 billion and non-GAAP operating income was $541.1 million, marking record revenue and operating income [9][25] - GAAP revenue for Q4 increased by 10%, while full year growth was 7% on a GAAP basis and 6% on a non-GAAP basis [25] Business Segment Performance - Core non-GAAP segment revenue increased by 7% for Q4, with operating margin increasing by 274 basis points [32] - Payments non-GAAP segment revenue grew by 6% for both Q4 and the full year, with non-GAAP margin expansion of 99 basis points [33] - Complementary segment non-GAAP quarterly revenue increased by 11%, with a margin expansion of 155 basis points [34] Market Dynamics - The company signed 51 new core deals in fiscal year 2025, including 31 banks and 20 credit unions, indicating strong sales momentum [11] - The company now hosts 77% of its core clients in its private cloud environment, reflecting a shift towards cloud solutions [11] - The company anticipates slight revenue headwinds from industry consolidation and renewal pricing pressure [9][10] Strategic Direction - The company is focused on technology innovation and execution to drive sales and maintain long-term positioning [9][23] - A strategic phased approach is being taken to support stablecoin solutions through banking clients, ensuring compliance with upcoming regulations [21][22] - The company aims to leverage its technology modernization strategy to enhance operational efficiency and reduce costs [20][89] Management Commentary - Management expressed confidence in the company's ability to achieve solid margin expansion and strong free cash flow metrics despite macroeconomic uncertainties [9][10] - The management highlighted the importance of maintaining a people-first culture and commitment to client service as key differentiators in the market [7][13] - Management noted that while there are short-term revenue headwinds from bank mergers and acquisitions, the long-term growth opportunities remain intact [66][68] Other Important Information - The company achieved a record operating cash flow of $642 million for fiscal year 2025, with free cash flow conversion at 90% [34] - The company has zero debt at fiscal year-end, providing flexibility for future capital deployment [35][109] - The annual customer conference, Jack Henry Connect, is expected to drive higher revenue in Q1 of fiscal year 2026 [40] Q&A Session Summary Question: Aggregate demand environment and implementation cycles - Management noted that demand remains strong with 51 core wins, and some implementation delays have improved compared to the previous quarter [44][46] Question: Revenue guidance range - Management explained that the wider guidance range allows for more operational flexibility in light of macroeconomic variables [48][50] Question: Fiscal 2026 revenue outlook by segment - Management expects solid growth in the core segment, slightly below long-term targets for payments, and strong growth in the complementary segment [55] Question: Impact of bank M&A on revenue outlook - Management indicated that while there are short-term impacts from bank M&A, the long-term growth opportunities remain solid [58][66] Question: Pricing pressure on renewals - Management acknowledged ongoing pricing pressure but emphasized their focus on improving renewal processes and maintaining competitiveness [76][78] Question: Progress of partnership with Move - Management reported that the partnership has exceeded expectations, with significant interest and excitement from Visa and MasterCard [80][82] Question: Margin expansion drivers - Management highlighted process improvement, efficiency, and cloud migration as key components driving margin expansion [87][89] Question: Free cash flow and capital allocation - Management expressed plans to increase share repurchases and remain open to M&A opportunities due to improved free cash flow and zero debt [109]

Company Information - Winning Time's market capitalization is 19.5 billion yuan [3] - The company held its sixth second board meeting on August 18, 2025, to review proposals including amendments to certain management systems [1] Revenue Composition - For the year 2024, Winning Time's revenue composition is as follows: 98.47% from the financial sector and 1.53% from non-financial sectors [2]

两融数据显示，该股最新融资余额为19.27亿元，近5日增加2.79亿元，增幅为16.94%。（数据宝） 8月19日银之杰大宗交易一览 | 成交量 （万 | 成交金 额 | 成交价 格 | 相对当日 收盘折溢 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | | 股） | （万 | （元） | 价 | | | | | 元） | | （%） | | | | 5.56 | 255.26 | 45.91 | 0.00 | 中国中金财富证券有限公司福州五四路证券营业 部 | 机构专用 | 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 （原标题：银之杰8月19日大宗交易成交255.26万元） 银之杰8月19日大宗交易平台出现一笔成交，成交量5.56万股，成交金额255.26万元，大宗交易成交价为 45.91元。该笔交易的买方营业部为中国中金财富证券有限公司福州五四路证券营业部，卖方营业部为 机构专用。 进一步统计，近3个月内该股累计发生75笔大宗交易，合计成交金额为4.77亿元。 证券时报•数据宝统计显示，银之杰今日收盘价为45.91元，下跌4 ...

Core Insights - The company reported a significant increase in revenue, reaching 1.5 billion, which represents a 20% year-over-year growth [1] - Net profit for the first half of 2025 was reported at 300 million, showing a 15% increase compared to the same period last year [1] - The company has expanded its market share in the financial technology sector, indicating strong competitive positioning [1] Financial Performance - Total revenue for the first half of 2025 was 1.5 billion, up from 1.25 billion in the same period of 2024 [1] - The net profit margin improved to 20%, compared to 18% in the previous year [1] - Operating expenses increased by 10% to 1.2 billion, primarily due to investments in technology and talent acquisition [1] Market Position - The company has successfully captured a larger share of the financial technology market, now holding 25% of the market compared to 20% last year [1] - Strategic partnerships with key industry players have enhanced the company's service offerings and customer reach [1] - The company plans to continue its expansion strategy, targeting emerging markets for future growth [1]

证券日报网讯 8月18日晚间，银之杰发布公告称，2025年8月18日，公司第六届董事会第十七次会议和 第六届监事会第十六次会议审议通过了《关于作废2022年限制性股票激励计划部分已授予尚未归属的限 制性股票的议案》，同意作废2022年限制性股票激励计划已授予尚未归属的剩余4，149，500股限制性 股票。 （文章来源：证券日报） ...

Core Viewpoint - The company, Anshuo Information, plans to raise up to 600 million yuan through a private placement, with nearly 60% of the funds allocated for an AI-based smart credit system project, reflecting the growing demand for digitalization in financial services driven by the AI wave [1][2]. Group 1: Fundraising and Project Allocation - Anshuo Information intends to issue shares to no more than 35 specific investors, with a total fundraising amount not exceeding 600 million yuan, all of which will be used for various projects including the AI-based smart credit system [1][2]. - The smart credit system project has a planned total investment of approximately 354 million yuan, with about 353 million yuan coming from the raised funds, accounting for 58.78% of the total [2]. - Other projects include a comprehensive risk digital management platform with an investment of 71.93 million yuan (11.99% of the total), a digital financial R&D center upgrade costing 62.4 million yuan (10.4%), and working capital supplementation of 113 million yuan (18.83%) [2]. Group 2: Market Trends and Company Strategy - The company aims to enhance its operations through the AI-based smart credit system by adding four new modules and upgrading eleven existing ones, with a construction period of 36 months and an expected annual revenue of 600 million yuan upon completion [2][3]. - Anshuo Information has noted a rising trend in digital and intelligent credit business needs, with 84.29% of surveyed banks having deployed a digital financial strategy [3]. - The banking sector's IT investment in China reached approximately 163.4 billion yuan in 2023, showing a year-on-year growth of 13%, with a projected compound annual growth rate of 9.3% from 2024 to 2028 [3]. Group 3: Company Performance and Shareholding - In the first quarter of this year, Anshuo Information reported a revenue of 150 million yuan, an increase of 8.92% year-on-year, while the net profit attributable to shareholders decreased by 35.99% to 1.6483 million yuan [4]. - The revenue from credit management systems accounted for 72.74% of the company's total revenue in the 2024 financial report [4]. - Anshuo Development holds 27.93% of the company's shares, making it the controlling shareholder, while the actual controllers, Gao Yong and Gao Ming, collectively control 41.28% of the shares, ensuring that the control of the company remains unchanged post-fundraising [4].

Core Insights - Wall Street analysts forecast Jack Henry (JKHY) will report quarterly earnings of $1.46 per share, reflecting a year-over-year increase of 5.8% [1] - Anticipated revenues are projected to be $602.59 million, showing a 7.6% increase compared to the same quarter last year [1] Earnings Estimates - Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter, indicating stability in analysts' forecasts [2] - Changes in earnings estimates are crucial for predicting investor reactions, with empirical studies showing a strong relationship between earnings estimate revisions and short-term stock performance [3] Revenue Projections - Analysts estimate 'Revenue- Core' to reach $185.97 million, representing an 8.1% year-over-year change [5] - 'Revenue- Corporate & Other' is forecasted at $19.97 million, indicating a slight decline of 0.8% year-over-year [5] - 'Revenue- Complementary' is projected to be $171.65 million, reflecting a 10.6% increase from the previous year [5] Segment Income Estimates - 'Revenue- Payments' is expected to be $227.46 million, with a year-over-year increase of 7% [6] - 'Segment Income- Core' is projected at $113.06 million, up from $102.14 million in the same quarter last year [6] - 'Segment Income- Complementary' is estimated to reach $102.90 million, compared to $90.85 million a year ago [6] - The consensus estimate for 'Segment Income- Payments' stands at $110.13 million, up from $100.81 million in the same quarter last year [7] Stock Performance - Shares of Jack Henry have shown a return of -8% over the past month, contrasting with the Zacks S&P 500 composite's +3.5% change [7] - Jack Henry holds a Zacks Rank 3 (Hold), suggesting it is expected to mirror overall market performance in the near future [7]

Financial Data and Key Metrics Changes - In fiscal 2025, the company reported underlying revenue from customers of $2,566.8 million, reflecting a 0.7% increase on a constant currency basis compared to fiscal 2024 [2] - Underlying cash EBITDA was $43.8 million, resulting in a cash EBITDA margin of 17%, showing improvement over the previous year [2] - The company ended the year with $58.7 million in cash and no debt, allowing for a final dividend of $13.1 million and a special dividend of $8 million [2] Business Line Data and Key Metrics Changes - Maintenance, support, and hosting revenue grew by 5.6%, while professional services revenue increased by 2.1% [3] - Recurring revenue for fiscal 2025 was $154.3 million, approximately flat compared to $149.6 million in 2024, impacted by customer loss and shrinkage [5] - Operating costs decreased by $17 million in fiscal 2025 compared to fiscal 2024, remaining stable throughout the year [6] Market Data and Key Metrics Changes - The company expects revenues in fiscal 2026 to be in line with fiscal 2025, with cash EBITDA projected to exceed $50 million [8] - One customer generating $10 million in revenue is expected to complete migration away from the company by January 1, 2026 [10] Company Strategy and Development Direction - The company is focusing on protecting and growing recurring revenue, advancing platforms, exploring partnerships, and increasing accountability at the business unit level [8] - A decentralized business model is emphasized to improve customer intimacy and decision-making [4] Management's Comments on Operating Environment and Future Outlook - Management acknowledged attrition in fiscal 2025 and expects a further impact of $6.5 million on fiscal 2026 recurring revenue due to customer loss [6][16] - Growth is anticipated from existing customers, driven by volume increases, client expansions, and new business opportunities [17] Other Important Information - The company has a dividend policy of returning at least 50% of underlying NPAT to shareholders [7] - The definition of recurring revenue has been refined, focusing on contracted recurring revenue without including professional services [33] Q&A Session Summary Question: Clarification on revenue guidance for FY 2026 - Management expects revenues to be in line with fiscal 2025, with growth driven by existing customers and new business opportunities [16][18] Question: Cost savings and FTE changes - Management indicated that cost savings are driven by efficiency improvements across various departments, not limited to one area [19][20] Question: FX assumptions and market opportunities - Current FX rates are assumed to hold, and while there is activity in the market, specific details on new logos were not disclosed [23][26] Question: Revenue growth drivers - Revenue growth was attributed to favorable FX rates, strong professional services revenue, and R&D incentives from the UK government [38][39] Question: Partnerships with administration providers - Management is in early stages of partnership discussions to enhance administration capabilities in conjunction with their platforms [42]

Core Viewpoint - The company, Xinchen Technology, has extensive experience and technical accumulation in the field of international settlement and trade financing, which positions it well to meet market demands [1] Group 1: Company Capabilities - The international settlement and trade financing system developed by the company is based on mature international settlement and trade financing products, integrating deep understanding and years of implementation experience in the financial industry [1] - The system comprehensively covers bank international settlement and trade financing business, domestic specialty business, and interbank agency business [1] - By automating international settlement and trade financing processes, the company helps banks reduce risks and lower costs [1] Group 2: Technological Innovation - The successful application of blockchain technology in areas such as letter of credit settlement demonstrates the effective utilization of the company's R&D achievements in blockchain [1] - This application not only meets the business needs of the company's clients but also showcases the practical implementation of innovative technology in financial services [1]

每经头条（nbdtoutiao）——未收车就要结清20多万元尾款，否则5000元定金作废？小米汽车知情人 士：涉及两种特殊情况；律师解读→ （记者 王晓波） 每经AI快讯，四方精创（SZ 300468，收盘价：40.92元）8月12日晚间发布公告称，持有公司股份约1.19 亿股（占公司总股本比例为22.43%）的控股股东益群集团控股有限公司和持有公司股份约166万股（占 公司总股本比例为0.31%）的"国信证券（香港）资产管理有限公司－益群集团专户-人民币汇入"为一致 行动人，计划通过集中竞价交易方式和大宗交易方式减持公司股份数量合计不超过约1194万股（占公司 总股本比例为2.25%）。其中以集中竞价方式减持的，计划在本公告披露之日起15个交易日后的3个月 内进行，且任意连续90日内减持股份总数不超过公司总股本的1%；以大宗交易方式减持的，计划在本 公告披露之日起15个交易日后的3个月内进行，且任意连续90日内减持股份总数不超过公司股份总数的 1.25%。 2024年1至12月份，四方精创的营业收入构成为：银行占比97.73%，其他占比1.54%，非银行金融机构 占比0.73%。 截至发稿，四方精创市值为2 ...