Core Viewpoint - Tonghuashun's stock price has shown fluctuations with a year-to-date increase of 14.79%, but recent trends indicate a decline over various time frames, suggesting potential volatility in the market [1][2]. Company Overview - Zhejiang Kexin Tonghuashun Network Information Co., Ltd. was established on August 24, 2001, and listed on December 25, 2009. The company provides software products, system maintenance services, financial data services, and investment analysis tools for individual investors [1]. - The main revenue sources for Tonghuashun are: value-added telecommunications services (48.33%), advertising and internet promotion services (36.01%), fund sales and other businesses (9.43%), and software sales and maintenance (6.22%) [1]. Financial Performance - For the period from January to September 2025, Tonghuashun achieved operating revenue of 3.261 billion yuan, representing a year-on-year growth of 39.67%. The net profit attributable to shareholders was 1.206 billion yuan, reflecting an increase of 85.29% [2]. - Since its A-share listing, Tonghuashun has distributed a total of 7.991 billion yuan in dividends, with 4.193 billion yuan distributed in the last three years [3]. Shareholder Structure - As of September 30, 2025, the number of shareholders for Tonghuashun was 82,600, a decrease of 4.81% from the previous period. The average number of circulating shares per person increased by 5.05% to 3,336 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited as the second-largest shareholder with 14.6293 million shares, an increase of 2.3322 million shares from the previous period [3].

Core Viewpoint - The stock of Tonghuashun has shown a significant increase in price and strong financial performance, indicating potential growth opportunities in the financial technology sector [1][2]. Company Overview - Tonghuashun, established on August 24, 2001, and listed on December 25, 2009, is based in Hangzhou, Zhejiang Province. The company provides software products, system maintenance services, financial data services, and investment analysis tools for individual investors [1]. - The main revenue sources are: value-added telecommunications services (48.33%), advertising and internet promotion services (36.01%), fund sales and other services (9.43%), and software sales and maintenance (6.22%) [1]. Financial Performance - For the period from January to September 2025, Tonghuashun achieved operating revenue of 3.261 billion yuan, a year-on-year increase of 39.67%, and a net profit attributable to shareholders of 1.206 billion yuan, up 85.29% year-on-year [2]. - The company has distributed a total of 7.991 billion yuan in dividends since its A-share listing, with 4.193 billion yuan distributed in the last three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders is 82,600, a decrease of 4.81% from the previous period, with an average of 3,336 shares held per shareholder, an increase of 5.05% [2]. - The top shareholders include Hong Kong Central Clearing Limited, holding 14.6293 million shares (an increase of 2.3322 million shares), and China Securities Finance Corporation, holding 5.8875 million shares (unchanged) [3].

Core Viewpoint - The stock price of Tonghuashun has shown a significant increase of 26.71% year-to-date, despite a recent decline in the last five and twenty trading days [1][2]. Financial Performance - For the period from January to September 2025, Tonghuashun achieved a revenue of 3.261 billion yuan, representing a year-on-year growth of 39.67% [2]. - The net profit attributable to shareholders for the same period was 1.206 billion yuan, reflecting an impressive year-on-year increase of 85.29% [2]. Shareholder Information - As of September 30, 2025, the number of shareholders for Tonghuashun was 82,600, a decrease of 4.81% from the previous period [2]. - The average number of circulating shares per shareholder increased by 5.05% to 3,336 shares [2]. Dividend Distribution - Since its A-share listing, Tonghuashun has cumulatively distributed dividends amounting to 7.991 billion yuan, with 4.193 billion yuan distributed in the last three years [3]. Major Shareholders - As of September 30, 2025, Hong Kong Central Clearing Limited was the second-largest circulating shareholder, holding 14.6293 million shares, an increase of 2.3322 million shares from the previous period [3]. - China Securities Finance Corporation remained the sixth-largest shareholder with 5.8875 million shares, unchanged from the previous period [3]. - The Huatai-PB CSI 300 ETF and the Huabao CSI Financial Technology Theme ETF were among the top ten circulating shareholders, with some changes in their holdings [3].

Core Viewpoint - The stock of Tonghuashun has experienced fluctuations, with a recent decline of 2.00% on September 30, 2023, while the company has shown a year-to-date increase of 30.80% in stock price [1] Company Overview - Tonghuashun, officially known as Zhejiang Hexin Tonghuashun Network Information Co., Ltd., was established on August 24, 2001, and listed on December 25, 2009. The company is headquartered in Yuhang District, Hangzhou, Zhejiang Province [1] - The main business activities include providing software products and system maintenance services, financial data services, intelligent promotion services for institutional clients, and financial information and investment analysis tools for individual investors [1] Financial Performance - For the first half of 2025, Tonghuashun reported operating revenue of 1.779 billion yuan, representing a year-on-year growth of 28.07%. The net profit attributable to shareholders was 502 million yuan, reflecting a year-on-year increase of 38.29% [2] - Since its A-share listing, the company has distributed a total of 7.991 billion yuan in dividends, with 4.193 billion yuan distributed over the past three years [3] Shareholder Information - As of June 30, 2025, the number of shareholders for Tonghuashun was 86,800, a decrease of 2.77% from the previous period. The average number of circulating shares per person increased by 2.84% to 3,175 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 12.2971 million shares, a decrease of 1.8611 million shares from the previous period [3]

Core Insights - The stock price of Tonghuashun increased by 2.01% on September 29, reaching 367.14 CNY per share, with a total market capitalization of 197.37 billion CNY [1] - The company reported a year-to-date stock price increase of 29.09%, but a decline of 0.48% over the last five trading days and 7.59% over the last twenty days [1] - For the first half of 2025, Tonghuashun achieved operating revenue of 1.779 billion CNY, a year-on-year growth of 28.07%, and a net profit attributable to shareholders of 502 million CNY, up 38.29% [2] Financial Performance - The company has cumulatively distributed dividends of 7.991 billion CNY since its A-share listing, with 4.193 billion CNY distributed in the last three years [3] - As of June 30, 2025, the number of shareholders decreased by 2.77% to 86,800, while the average circulating shares per person increased by 2.84% to 3,175 shares [2] Shareholder Structure - As of June 30, 2025, Hong Kong Central Clearing Limited was the third-largest circulating shareholder, holding 12.2971 million shares, a decrease of 1.8611 million shares from the previous period [3] - The seventh-largest circulating shareholder, E Fund's ChiNext ETF, held 5.084 million shares, with a slight decrease of 4,721 shares [3] - The ninth-largest shareholder, Huatai-PB CSI 300 ETF, increased its holdings by 300,800 shares to 3.9361 million shares [3]

Core Insights - The stock price of Tonghuashun increased by 2.01% on September 24, reaching 366.18 CNY per share, with a trading volume of 2.324 billion CNY and a turnover rate of 2.34% [1] - Year-to-date, Tonghuashun's stock price has risen by 28.76%, but it has seen a decline of 6.18% over the last five trading days and 8.47% over the last twenty days [2] - For the first half of 2025, Tonghuashun reported a revenue of 1.779 billion CNY, a year-on-year increase of 28.07%, and a net profit attributable to shareholders of 502 million CNY, up 38.29% [2] Financial Performance - As of June 30, 2025, Tonghuashun's cumulative cash distribution since its A-share listing amounts to 7.991 billion CNY, with 4.193 billion CNY distributed in the last three years [3] - The company's main revenue sources include value-added telecommunications services (48.33%), advertising and internet promotion services (36.01%), fund sales and other businesses (9.43%), and software sales and maintenance (6.22%) [2] Shareholder Information - As of June 30, 2025, the number of shareholders in Tonghuashun decreased by 2.77% to 86,800, while the average circulating shares per person increased by 2.84% to 3,175 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 12.2971 million shares, a decrease of 1.8611 million shares from the previous period [3]

Core Insights - The stock price of Tonghuashun increased by 2.05% on September 22, reaching 368.01 CNY per share, with a trading volume of 1.76 billion CNY and a total market capitalization of 197.84 billion CNY [1] - Year-to-date, Tonghuashun's stock price has risen by 29.35%, but it has seen a decline of 0.77% in the last five trading days and 7.62% over the past 20 days [2] - For the first half of 2025, Tonghuashun reported a revenue of 1.779 billion CNY, representing a year-on-year growth of 28.07%, and a net profit attributable to shareholders of 502 million CNY, up 38.29% [2] Company Overview - Tonghuashun, established on August 24, 2001, and listed on December 25, 2009, is based in Hangzhou, Zhejiang Province [2] - The company provides software products, system maintenance services, financial data services, and investment analysis tools for individual investors [2] - The revenue composition includes 48.33% from value-added telecommunications, 36.01% from advertising and internet promotion, 9.43% from fund sales, and 6.22% from software sales and maintenance [2] Shareholder and Dividend Information - Since its A-share listing, Tonghuashun has distributed a total of 7.991 billion CNY in dividends, with 4.193 billion CNY distributed in the last three years [3] - As of June 30, 2025, the number of shareholders decreased by 2.77% to 86,800, while the average circulating shares per person increased by 2.84% to 3,175 shares [2][3] - Major shareholders include Hong Kong Central Clearing Limited, which holds 12.297 million shares, and new entrants like E Fund CSI 300 ETF [3]

Core Insights - On September 17, Tonghuashun's stock rose by 3.83%, with a trading volume of 6.868 billion yuan [1] - For the same day, the financing buy amount was 1.199 billion yuan, while the financing repayment was 868 million yuan, resulting in a net financing purchase of 331 million yuan [1] - As of September 17, the total financing and securities lending balance for Tonghuashun was 6.489 billion yuan, indicating a high level of financing activity [1] Financing and Securities Lending - On September 17, Tonghuashun's financing buy was 1.199 billion yuan, with a current financing balance of 6.474 billion yuan, accounting for 3.31% of the circulating market value [1] - The financing balance is above the 90th percentile level for the past year, indicating a high position [1] - In terms of securities lending, 1,900 shares were repaid, and 700 shares were sold, with a selling amount of 273,300 yuan calculated at the closing price [1] - The securities lending balance was 14.7188 million yuan, also exceeding the 90th percentile level for the past year [1] Company Overview - Zhejiang Huaxin Tonghuashun Network Information Co., Ltd. was established on August 24, 2001, and listed on December 25, 2009 [1] - The company provides software products, system maintenance services, financial data services, and investment analysis tools for individual investors [1] - The revenue composition includes: 48.33% from value-added telecommunications services, 36.01% from advertising and internet promotion services, 9.43% from fund sales and other businesses, and 6.22% from software sales and maintenance [1] Financial Performance - As of June 30, the number of shareholders was 86,800, a decrease of 2.77% from the previous period [2] - The average circulating shares per person increased by 2.84% to 3,175 shares [2] - For the first half of 2025, Tonghuashun achieved operating revenue of 1.779 billion yuan, a year-on-year increase of 28.07%, and a net profit attributable to shareholders of 502 million yuan, up 38.29% year-on-year [2] Dividend Distribution - Since its A-share listing, Tonghuashun has distributed a total of 7.991 billion yuan in dividends, with 4.193 billion yuan distributed in the last three years [3] Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited was the third-largest circulating shareholder, holding 12.2971 million shares, a decrease of 1.8611 million shares from the previous period [3] - E Fund's ChiNext ETF was the seventh-largest circulating shareholder, holding 5.084 million shares, a decrease of 4,721 shares [3] - Huatai-PB's CSI 300 ETF increased its holdings by 300,800 shares, while E Fund's CSI 300 ETF entered as a new shareholder with 2.7551 million shares [3]

Company Overview - Tonghuashun, established on August 24, 2001, and listed on December 25, 2009, is located in Yuhang District, Hangzhou, Zhejiang Province. The company provides software products, system maintenance services, financial data services, and investment analysis tools for individual investors [1][2]. Financial Performance - For the first half of 2025, Tonghuashun achieved a revenue of 1.779 billion yuan, representing a year-on-year growth of 28.07%. The net profit attributable to shareholders was 502 million yuan, reflecting a growth of 38.29% [2]. - The company has distributed a total of 7.938 billion yuan in dividends since its A-share listing, with 4.14 billion yuan distributed in the last three years [3]. Stock Performance - As of September 11, Tonghuashun's stock price increased by 2.02% to 358.50 yuan per share, with a total market capitalization of 192.73 billion yuan. The stock has risen by 26.01% year-to-date and 48.02% over the past 60 days [1]. - The trading volume on September 11 was 1.991 billion yuan, with a turnover rate of 2.05% [1]. Shareholder Structure - As of June 30, 2025, the number of shareholders was 86,800, a decrease of 2.77% from the previous period. The average number of circulating shares per person increased by 2.84% to 3,175 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 12.2971 million shares, and E Fund's various ETFs, with some holdings decreasing and others increasing [3]. Industry Classification - Tonghuashun is classified under the computer software development industry, specifically in vertical application software. It is associated with concepts such as Internet finance, lottery, financial technology, ChatGPT, and data elements [2].