整体而言，稳定币是加密资产、央行数字货币、第三方支付以及货币市场共同基金的综合体，在技术上 依托于加密资产采用的区块链和分布式账本等技术，具有去中心化交易的属性，在形式上与央行数字货 币一样，都是在推动法定货币的代币化进程，在功能上主要在履行与第三方支付类似的支付功能，而在 价值上具备了与货币市场共同基金类似的价值稳定特性。 中国人民银行行长潘功胜今年6月在陆家嘴论坛上提出，区块链和分布式账本等新兴技术推动央行数字 货币、稳定币蓬勃发展，从底层重塑传统支付体系。此后，社会各界对稳定币的讨论越发热烈，但由于 对一些基础问题的认识仍有分歧，争议也比较大。为此，笔者6月在《第一财经日报》上撰文《厘清稳 定币认识的六大误区》指出，稳定币不同于一般加密资产、价值并非不稳定、与央行数字货币可以共 存，在相应的监管制度下，稳定币并不会损害国内货币主权，也不会加剧非法金融活动风险，且有利于 本币国际化。文章刊发后，在推动客观理性认识稳定币上起到了一定的作用。 近期，社会各界对于稳定币到底是什么、有哪些基本属性等基础性问题，仍存在较大的争议。一些观点 将稳定币等同于一般意义上的加密货币，也有一些观点认为稳定币与央行数字货币都是 ...

Core Viewpoint - Lenovo Holdings plans to reduce its stake in Lakala by no more than 3% of the total share capital, which currently stands at 26.54% [1][2] Group 1: Shareholding Changes - Lenovo Holdings intends to reduce its stake through a centralized bidding method, limiting the reduction to 1% of the total share capital within three months starting from July 23, 2025 [1] - Additionally, Lenovo will utilize block trading to reduce its stake by up to 2% of the total share capital during the same period [1] - Another significant shareholder, Sun Haoran, plans to reduce his holdings of 19.27 million shares, representing 2.45% of the total share capital, with a maximum reduction of the same number of shares [3][4] Group 2: Company Background and Developments - Lakala, founded by Sun Taoran and others, is one of China's earliest third-party payment companies, having been established in 2005 [2] - Lenovo Holdings invested in Lakala in 2008, marking a collaboration between industry and finance [2] - Lakala became the largest offline financial service provider in China by 2009 and obtained a payment license from the central bank in 2011, leading to rapid business growth [2] - Recently, Lakala announced plans to accelerate the application of digital currency in cross-border scenarios, coinciding with the expansion of the digital yuan pilot [2] - On June 16, Lakala revealed plans to issue shares overseas (H-shares) and list on the Hong Kong Stock Exchange to promote its international strategy and enhance the application of digital currency [2]

Company Overview - Lianyang Intelligent Holdings primarily engages in providing big data services, third-party payment services, and manufacturing and trading of liquid and powder coatings [2] Financial Performance - As of December 31, 2024, Lianyang Intelligent Holdings reported total revenue of 156 million yuan, a year-on-year decrease of 70.04% [1] - The company recorded a net profit attributable to shareholders of -263 million yuan, representing a year-on-year decline of 373.7% [1] - The gross profit margin stood at 59.6%, while the debt-to-asset ratio was 106.6% [1] Stock Performance - On June 20, the stock price closed at 0.134 HKD per share, marking an increase of 54.02% with a trading volume of 24.08 million shares and a turnover of 3.4238 million HKD, showing a volatility of 135.63% [1] - Over the past month, the stock has seen a cumulative increase of 81.25%, but it has declined by 33.59% year-to-date, underperforming the Hang Seng Index by 15.84% [1] Industry Valuation - The average price-to-earnings (P/E) ratio for the software services industry (TTM) is -10.84, with a median of -2.26 [1] - Lianyang Intelligent Holdings has a P/E ratio of -0.33, ranking 147th in the industry [1] - Comparatively, other companies in the sector have P/E ratios such as Lujing Technology at 3.63, Jingtou Transportation Technology at 3.88, and Huanghe Industry at 3.91 [1]

以下文章来源于妙投APP ，作者董必政 妙投APP . 虎嗅旗下二级市场投研服务品牌，为您提供精选上市公司价值拆解，热门赛道产业链梳理 出品 | 妙投APP 作者 | 董必政 头图 | AI制图 2024年中国第三方互联网支付市场年度监测报告里藏着最残酷的行业密码——前五大机构鲸吞 76.5%市场份额。与此同时，约160家中小支付机构的生存空间正被压缩成一张A4纸的厚度。 2024年支付牌照注销数达到10张；而支付宝的"碰一碰"仅用321天用户破亿。这两个数字划出了支 付行业最锋利的价值断层线。 这已不是简单的"大鱼吃小鱼"，而是生态位的系统性重构。 当监管重拳击碎备付金利差幻想，汇付天下因客户备付金产生6000万元的利息收入直接清零；当支 付宝、微信支付垄断90%以上的第三方移动支付规模，中小玩家突然发现，过去靠牌照套利的躺赚 模式，已经彻底失效。 但总有幸存者在裂缝中点亮微光。连连国际在跨境支付撕开缺口，2024年跨境支付营收增速23%； 2024年拉卡拉的外卡受理活跃商户同比增长2倍。 这些案例都在诉说同一个真相，在支付这个修罗场，要么找到自己的匕首，要么成为巨头的垫脚 石。 # 01 一、合规高压线加 ...

Core Viewpoint - The rapid development of internet finance and the integration of third-party payment companies with online investment platforms have created convenient investment channels for consumers, but also highlighted security issues related to fund safety, particularly in cases of telecom fraud [1] Group 1: Case Background - In September 2017, an individual named Yang invested 3.12 million yuan through a third-party payment company, believing he was engaging with a legitimate investment platform, but the funds were redirected to problematic merchants due to unauthorized link redirection [2] - Yang managed to recover 1.28 million yuan but lost 1.84 million yuan, later receiving 70% of the remaining amount through a settlement agreement with the payment company [2] Group 2: Legal Findings - The Beijing Financial Court identified two main violations by the third-party payment company: allowing transfers between non-matching accounts and failing to monitor merchants' business activities effectively [3][4][7] - The court concluded that the payment company exhibited "surface compliance but substantial negligence," leading to a ruling that it should only bear 70% of the compensation responsibility [8] Group 3: Consumer Responsibility - The court emphasized that Yang, as a financial consumer, did not exercise due diligence in verifying the legitimacy of the investment platform and the recipient of the funds, which contributed to his losses [8][9] - The judge advised consumers to keep transaction records and evidence, report any anomalies immediately, and carefully read settlement agreements to avoid losing rights while seeking compensation [10]

朱启贵 □ 朱启贵 □ 建立包括所有金融机构和所有金融业务在内的金融业综合统计体系，保障金融统计数据的科学性、准 确性和及时性：一是加强金融统计现代化建设；二是建立金融业综合统计体系；三是完善金融业综合统 计机制；四是增强金融业综合统计服务政策决策功能 □ 根据金融强国建设目标与任务，参考资金流量核算的国际标准，借鉴发达国家的经验，加快完善资金 流量核算体系：一是完善资金流量核算总体框架；二是编制资金流量核算二维账户；三是建立资金流量 核算的调和账户；四是建立三维资金流量核算账户；五是提高资金流量核算数据发布的时效性 □ 数字金融的快速发展对传统金融统计核算体系带来了深远影响。亟须建立数字金融统计制度方法：一 是重构统计边界与分类标准；二是建立协同化数据共享机制；三是探索区块链技术在数据确权与溯源中 的应用，确保数据真实性；四是完善风险预警指标体系；五是革新核算方法论；六是加强国际协调 □ 构建金融强国统计测度体系，评价金融强国建设的进程与效果：一是构建金融强国统计测度指标体 系；二是编制金融强国统计测度指数；三是测度金融强国建设的成效 统计是经济社会发展的重要综合性基础性工作，统计数据是宏观调控的重要依据， ...

Group 1 - The 9th Silk Road International Expo will feature a cultural and tourism consumption exhibition organized by the provincial culture and tourism department, consisting of four specialized exhibition areas: cultural tourism theme area, cultural performance area, intangible cultural heritage area, and sports events area [1] - The cultural tourism theme area will focus on the achievements of Shaanxi Province's key cultural tourism industry chain, showcasing rich historical and cultural resources, including county cultural tourism, tourist resorts, scenic spots, smart tourism platforms, study tours, and related financial services [1] - The cultural performance area will highlight the development of Shaanxi's artistic creation and performance industry, featuring local folk performances and tourism-related performances, including traditional operas and digital performances [1] Group 2 - The intangible cultural heritage area will center on national trend culture and intangible cultural heritage, showcasing crafts, cultural products, and traditional clothing, including Hanfu parades [1] - The sports events area will leverage Shaanxi's natural and cultural resources to display premium sports tourism projects such as marathons, mountain climbing, and cycling events [1] - The expo will also host a special promotion meeting for cultural and tourism projects, featuring performances and experiences related to traditional arts and e-sports, aiming to create an international platform for showcasing, trading, and cooperation in the cultural and tourism sectors [2]

5月6日，翠微股份今日收盘8.61元，上涨2.14%，最新市净率3.34，总市值68.77亿元。 截至2025年一季报，共有5家机构持仓翠微股份，其中其他3家、基金2家，合计持股数40106.32万股， 持股市值31.56亿元。 序号股票简称PE(TTM)PE(静)市净率总市值(元)4翠微股份-10.44-10.013.3468.77亿行业平均 72.2236.431.38199.46亿行业中值28.1822.851.36175.55亿1九鼎投资-20.26-23.172.4062.17亿2*ST仁 东-17.93-6.876.5257.19亿3爱建集团-13.50-14.070.6374.72亿5江苏金租10.4010.611.25312.21亿6陕国投 A12.6312.810.95174.39亿7越秀资本13.0714.151.06324.61亿8国网英大16.0317.941.28282.49亿9南华期货 16.6516.651.8476.26亿10瑞达期货16.7517.132.2965.55亿11渤海租赁17.4422.850.65206.56亿 来源：金融界 北京翠微大厦股份有限公司的主营业务是 ...

| 证券代码：603123 | 证券简称：翠微股份 | 公告编号：临 2025-011 | | --- | --- | --- | | 债券代码：188895 | 债券简称：21 翠微 01 | | 北京翠微大厦股份有限公司 2025 年第一季度经营数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 公司第三方支付业务的主要客户为国内商户；商品销售业务的主要客户为北 京地区消费者。 特此公告。 北京翠微大厦股份有限公司董事会 2025 年 4 月 30 日 单位：元 币种：人民币 2025 年第一季度主营业务分行业情况 分行业 营业收入 营业成本 毛利率 （%） 营业收入 比上年增 减（%） 营业成本 比上年增 减（%） 毛利率 比上年增减百分点 第三方支付 354,343,205.57 351,674,382.88 0.75 -9.52 -11.15 增加 1.82 个百分点 商品销售 161,123,904.17 72,356,730.25 55.09 -14.09 -10.76 减少 1.68 个百分点 租赁业务 ...

Core Viewpoint - *ST Rendo has successfully completed its restructuring process, leading to significant improvements in its financial status and paving the way for future growth opportunities in the third-party payment sector [2][4]. Financial Performance - In 2024, *ST Rendo achieved a revenue of 1.159 billion yuan, with a first-quarter revenue of 202.0 million yuan in 2025 [1]. - The company's net assets turned positive in the first quarter of 2025, reaching approximately 878 million yuan [1][3]. - The restructuring process has significantly improved the company's financial condition, alleviating historical debt pressures and optimizing its asset-liability structure [2]. Restructuring and Strategic Partnerships - The restructuring process was completed efficiently within a year, receiving recognition from the market [2]. - Strategic investors, including CITIC Capital and Guangzhou Asset Management, were introduced during the restructuring, providing resource synergies for the company's payment business [2][4]. - The completion of the restructuring allows *ST Rendo to focus on its core payment business and enhance its operational management [1][4]. Business Focus and Future Outlook - *ST Rendo plans to concentrate on its third-party payment business, leveraging its subsidiary, Guangzhou Helibao Payment Technology Co., which holds a central bank payment license [4]. - The company aims to increase its registered capital in Helibao by 200 million yuan to enhance competitiveness and meet payment license renewal requirements [4]. - The global cross-border payment market is projected to reach 250 trillion yuan, with China's market size at 9.4 trillion yuan, indicating significant growth potential for *ST Rendo's business [4][5]. Operational Strategy - The company intends to optimize its asset structure, reduce operational costs, and explore acquisitions in the digital economy sector to implement a diversified business strategy [4][6]. - *ST Rendo will actively participate in the digital economy, focusing on building digital infrastructure and enhancing its long-term development capabilities [6].