Hundsun(SH:600570)2023-12-19 02:05Financial Technology Development - The company has focused on the financial technology sector for 20 years, benefiting from China's strong macroeconomic fundamentals and achieving double-digit compound growth in revenue [2] - The financial technology sector still has significant growth potential, driven by the growth and structural transformation of residents' wealth and the deepening of digital applications [2][3] - By 2030, the scale of wealth management and asset management businesses is expected to at least double, with an annual compound growth rate of over 10% [3] - The proportion of technology investment in the securities industry is currently 7%, with significant room for growth compared to developed markets [3] Impact of Fee Reduction Policies - Short-term impact of fee reduction policies on financial technology companies is twofold: both challenges and opportunities exist [4] - The company has established a "quantitative" analysis capability to assess the impact of external policies on its revenue [4] - Long-term impact of fee reductions will increase competition and drive the industry towards a more market-oriented direction, with technology continuing to play a crucial role in cost reduction and efficiency improvement [5] Productization Strategy and Organizational Upgrades - The company's productization strategy for middle and back-office systems is aimed at cost reduction and efficiency improvement, while front-office systems require a deep understanding of business to define models [6] - Since 2021, the company has promoted IPD (Integrated Product Development) transformation, forming 6 IPD teams to enhance product capabilities and business understanding [6] - The company collaborates closely with strategic clients to co-create new products, ensuring adaptability to new business demands [6] Human Efficiency and Market Competition - The company maintains a long-term investment strategy in product R&D, consistently improving human efficiency despite market fluctuations [7] - The company welcomes competition, viewing it as an opportunity to identify new growth areas and strengthen its market position [7] - With over 20 years of continuous investment in product R&D, the company has established a technological advantage in low-latency distributed technology platforms, agile development platforms, and next-generation data fabric platforms [8] Opportunities in the IT Innovation (Xinchuang) Sector - The IT innovation (Xinchuang) sector presents significant opportunities, with the company having completed 100% product adaptation for Xinchuang since 2019 [9] - The company is accelerating the pace of Xinchuang product deployment, ensuring delivery resources and striving for high-quality growth through technological applications [9] AI and Large Model Applications - The company is adopting a vertical integration model for large model applications, focusing on industry-specific models in collaboration with foundational model providers [9] - The company's "Photon" product connects large models with business scenarios, with further developments expected in the future [10] - The industry is still in the exploratory phase regarding large model applications, with potential budget allocations from clients expected next year [10]