Core Viewpoint - The company, Mengwang Technology (002123.SZ), confirmed on October 17 that it is not currently involved in digital currency business [1] Group 1 - Investors inquired about the company's involvement in digital currency [1] - The company responded that it does not engage in this business at the moment [1]

Core Viewpoint - The company Tongda Hai (301378.SZ) has stated that it is currently not involved in any digital currency business [1] Company Summary - Tongda Hai has clarified its position regarding digital currency, indicating no current engagement in this sector [1]

Group 1 - The stock price of Chutianlong as of August 13, 2025, is 27.18 yuan, down 1.38% from the previous trading day [1] - The trading volume on the same day reached 2.336 billion yuan, with a turnover rate of 18.67% [1] - A quick rebound was observed during the day, with the stock price reaching 27.83 yuan at 10:27 AM, showing an increase of over 2% within 5 minutes [1] Group 2 - Chutianlong operates in the communication equipment industry, involving electronic ID cards, smart government services, and digital currency [1] - The company's total market capitalization is 12.534 billion yuan, while the circulating market capitalization is 12.417 billion yuan [1] - On August 13, the net outflow of main funds was 52.3829 million yuan, accounting for 0.42% of the circulating market capitalization [1] - Over the past five days, the net inflow of main funds was 181.1236 million yuan, representing 1.46% of the circulating market capitalization [1]

Core Viewpoint - The company has not yet engaged in digital currency business but is collaborating with other parties for development and integration, with specifics depending on relevant industry information [1] Group 1 - The company is currently not involved in digital currency operations [1] - The company is actively cooperating with other entities for development purposes [1] - Future developments will be contingent on industry-specific information [1]

Core Insights - The cross-border payment concept stocks have surged significantly due to favorable policies, with Lakala (300773.SZ) rising over 47% in three days and its market capitalization exceeding 20 billion yuan [2][5]. Policy Impact - The surge in cross-border payment stocks is primarily driven by favorable policy developments, including the issuance of the "Shanghai International Financial Center Action Plan" by several regulatory bodies, which aims to enhance the functionality and global coverage of the Cross-Border Interbank Payment System (CIPS) [5][6]. - The plan encourages more banks to join CIPS and aims to improve the service level for enterprises going global, while also exploring blockchain technology applications for secure and efficient settlement services in global trade and investment [5]. Company Performance - Lakala's cross-border payment business operates through partnerships with banks to access CIPS and SWIFT systems, facilitating both cross-border RMB and foreign currency settlements [7]. - In 2023, Lakala reported over 20 million merchants served, with a total payment transaction volume of 4.51 trillion yuan, and its cross-border payment service network covers over 100 countries [7][11]. Industry Trends - The cross-border payment sector is experiencing a shift towards regionalization due to "reciprocal tariffs," which may accelerate the development of the RMB cross-border payment system [6]. - The popularity of Chinese cross-border e-commerce platforms, such as Dunhuang.com and Alibaba International Station, has also fueled enthusiasm for cross-border payment stocks [6]. Competitive Landscape - The tightening of payment regulations is expected to benefit leading companies like Lakala, as the number of payment licenses has been decreasing, leading to a higher market share for top players [19][23]. - The overall revenue growth of domestic third-party payment platforms has slowed, with transaction volumes slightly rebounding to 346 trillion yuan in 2023 after a decline in 2022 [23].