Core Viewpoint - The company, Top Software, is a leader in the new generation of domestic core trading systems, showcasing significant advantages in market expansion and technology innovation [1][3]. Company Overview - Top Software's core trading system is the only one in the securities industry that has achieved comprehensive domestic substitution, with over 10 ongoing system projects and five brokerages having removed Oracle databases [1]. - The company has been recognized in the Ministry of Industry and Information Technology's 2024 key recommended application cases, indicating its strong potential for rapid promotion and replication [1]. Financial Performance - For the first half of 2025, Top Software reported a main revenue of 246 million yuan, a year-on-year decrease of 7.97%, while the net profit attributable to shareholders was 52.88 million yuan, an increase of 8.4% [3]. - The second quarter of 2025 saw a single-quarter main revenue of 104 million yuan, down 19.83% year-on-year, and a net profit of 31.55 million yuan, down 3.13% year-on-year [3]. - The company maintains a gross profit margin of 70.03% and a debt ratio of 14.36% [3]. Market Outlook - The financial technology industry is viewed positively, with expectations of broad development opportunities in the future [3]. - The company utilizes its self-developed "LiveBOS" platform to provide information solutions focused on business process management (BPM) and "Internet+" applications across various financial sectors [3]. Analyst Ratings - In the last 90 days, five institutions have given buy ratings for the stock, with an average target price of 45.93 yuan [3]. Financing Data - In the past three months, the stock has seen a net inflow of 101 million yuan in financing, indicating an increase in financing balance, while the net inflow of short selling was 67,200 yuan [5].