Group 1 - The stock of Tonghuashun fell by 3.13% on March 31, indicating a significant decline in market performance [1] - Zhejiang Hexin Tonghuashun Network Information Co., Ltd. was established in 2001 and is primarily engaged in internet and related services, with a registered capital of 537.6 million RMB [1] - E Fund has two funds among the top ten shareholders of Tonghuashun, with the E Fund ChiNext ETF increasing its holdings in the fourth quarter of last year [1] Group 2 - The E Fund ChiNext ETF has a year-to-date return of -0.59%, ranking 2684 out of 3442 in its category, while the E Fund CSI 300 ETF has a year-to-date return of -0.30%, ranking 2534 out of 3442 [1] - The average return for similar funds over the past month is 0.38%, while the CSI 300 index has a return of -0.07% [2][3] - The performance of the E Fund ChiNext ETF and E Fund CSI 300 ETF is below the average of their respective categories [2][3] Group 3 - The fund managers for the E Fund ChiNext ETF and E Fund CSI 300 ETF include Cheng Xi, Liu Shurong, Yu Haiyan, and Pang Yaping, all of whom have extensive experience in fund management [4][5][6][8] - Cheng Xi has been managing the E Fund ChiNext ETF since May 7, 2016, while Liu Shurong has been managing it since July 18, 2017 [5][6] - Yu Haiyan has a background in credit risk analysis and has managed various funds since 2013, while Pang Yaping has experience in quantitative investment and has managed multiple funds since 2016 [6][8] Group 4 - E Fund Management Co., Ltd. was established in April 2001 and has 11 shareholders, with Yingfeng Group, Guangdong Yuecai Trust, and GF Securities each holding 22.65% [9] - The current chairman of E Fund is Liu Xiaoyan, and the general manager is Wu Xinrong [9]

证券代码：300033 证券简称：同花顺 公告编号：2025-014 浙江核新同花顺网络信息股份有限公司 2024 年度分红派息实施公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 浙江核新同花顺网络信息股份有限公司（以下简称"公司"）2024年年度权 益分派方案已获2025年3月18日召开的2024年度股东大会审议通过，股东大会决 议公告于2025年3月19日刊登在证监会指定信息披露网站上。现将权益分派事宜 公告如下： 一、股东大会审议通过利润分配方案情况 四、分红派息对象 1.公司于2025年3月18日召开2024年度股东大会，审议通过关于《2024年度 利润分配方案》的议案。公司2024年度利润分配方案如下：以公司2024年12月 31日的总股本537,600,000股为基数向全体股东每10股派发现金30.00元人民币 （含税），共计派发现金1,612,800,000.00元（含税），其余未分配利润结转下 年。 2. 自分配方案披露至实施期间公司股本总额未发生变化。 3. 本次实施的分配方案与2024年度股东大会审议通过的分配方案一致。 4. 本次实 ...

证券代码：300033 证券简称：同花顺 公告编号：2025-013 浙江核新同花顺网络信息股份有限公司 1.本次股东大会无增加、变更、否决议案的情形； 2.本次股东大会未涉及变更前次股东大会决议的情形； 3.本次股东大会采取现场投票与网络投票相结合的方式召开； 4.本次股东大会所有议案对中小股东表决单独计票。 一、会议召开和出席情况 浙江核新同花顺网络信息股份有限公司（以下简称"公司"）已于 2025 年 2 月 25 日在中国证监会创业板指定信息披露媒体上刊登了《关于召开 2024 年度股 东大会的通知》。 1.召集人：公司董事会 2024 年度股东大会决议的公告 2.召开方式：现场投票与网络投票相结合的方式 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 其中，通过深圳证券交易所交易系统进行网络投票的时间为 2025 年 3 月 18 日上午 9:15-9:25，9:30-11:30，下午 13:00-15:00；通过深圳证券交易所互联 网系统投票的具体时间为 2025 年 3 月 18 日 9:15 至 15:00 的任意时间。 4.股权登 ...

关于 浙江核新同花顺网络信息股份有限公司 2024 年度股东大会的 法 律 意 见 书 浙江天册律师事务所 浙江杭州市杭大路 1 号黄龙世纪广场 A 座 8 楼 310007 电话：0571 8790 1111 传真：0571 8790 1500 http://www.tclawfirm.com 浙江天册律师事务所 法律意见书 浙江天册律师事务所 关于浙江核新同花顺网络信息股份有限公司 （一）经本所律师查验，同花顺本次股东大会由董事会提议并召集，召开 本次股东大会的通知，已于 2025 年 2 月 25 日在巨潮资讯网站上公告。 根据本次股东大会的议程，提请本次股东大会审议的议题为： 2024 年度股东大会的 法律意见书 编号：TCYJS2025H0358 号 致：浙江核新同花顺网络信息股份有限公司 根据《中华人民共和国证券法》以下简称("证券法")、《中华人民共和国 公司法》（以下简称"公司法"）和中国证券监督管理委员会关于《上市公司股东 大会规则》（以下简称"股东大会规则"）等法律、法规和其他有关规范性文件的 要求，浙江天册律师事务所（以下简称"本所"）接受浙江核新同花顺网络信息 股份有限公司（以下简称" ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [7] Core Views - In 2024, the company's profitability significantly improved, driven mainly by high growth in advertising revenue. The company achieved operating revenue of 4.19 billion yuan, a year-on-year increase of 17.5%, and a net profit attributable to shareholders of 1.82 billion yuan, up 30.0% year-on-year [5][11] - The company's advertising revenue showed higher elasticity compared to the market, with product competitiveness enhanced through the integration of AI technologies [2][11] - The company has effectively controlled costs, slowing down R&D expenditure, which has led to improved profitability [2][11] - The company is strategically positioned in the AI sector, with successful applications of AI models and intelligent investment advisory services expected to open new growth avenues [2][11] Summary by Sections Financial Performance - In 2024, the company reported operating revenue of 4.19 billion yuan and a net profit of 1.82 billion yuan, with a weighted ROE of 24.8%, an increase of 4.6 percentage points year-on-year. The Q4 net profit was 1.17 billion yuan, up 85.5% year-on-year [11] - Revenue contributions from various segments include value-added telecommunications (1.62 billion yuan, +5.7%), advertising (2.02 billion yuan, +49.0%), software (360 million yuan, -18.6%), and fund distribution (190 million yuan, -20.5%) [11] Revenue Drivers - The company's app had 36.27 million monthly active users by the end of 2024, a year-on-year increase of 18.9%, with a market share of 21.2% [11] - The average daily trading volume in the market increased by 21.2% year-on-year to 1.06 trillion yuan, with the company's advertising revenue growth significantly outpacing the market [11] Cost Management - The company managed to control costs effectively, with management, sales, and R&D expenses reported at 220 million, 590 million, and 1.19 billion yuan respectively, showing a year-on-year increase of 8.3%, 19.1%, and 1.2% [11] - The net profit margin for 2024 was 43.5%, an increase of 4.2 percentage points year-on-year [11] AI and Product Development - The company upgraded its intelligent products, integrating advanced AI technologies to enhance user interaction and product capabilities [11] - The AI investment assistant was upgraded to a native AI dialogue product, and the company has built a matrix of intelligent products for financial data analysis [11] Future Outlook - The company is expected to achieve net profits of 2.27 billion yuan and 2.57 billion yuan in 2025 and 2026, respectively, with corresponding PE ratios of 76.7 and 67.9 times [11]

Core Insights - A total of 59 institutions conducted 389 ratings during the week of February 24 to February 28, with 259 stocks receiving "buy" ratings, including buy, increase, strong recommendation, and recommendation [1] Group 1: Institutional Focus - The stock with the highest institutional attention was Tonghuashun, receiving ratings from 18 institutions [1] - Following closely was XGIMI Technology, which received ratings from 10 institutions [1] - Other consumer-oriented companies such as Sun Paper, Tianshili, Supor, Qiaqia Food, Yanjinpuzi, and Fuling Zhacai also attracted attention from 3 or more institutions [1] Group 2: Rating Adjustments - A total of 60 stocks received attention from 2 or more institutions [1] - According to Kaiyuan Securities, Tonghuashun's upgraded "AI + Finance" outlook is promising, and the firm raised its earnings forecasts for 2025 to 2026, while also adding a forecast for 2027, maintaining a "buy" rating [1] - Additionally, 6 stocks had their ratings upgraded by institutions, including the storage chip leader Demingli [1]

Investment Rating - The report maintains a "Buy" rating for the company [5][7]. Core Views - The company reported a slight earnings beat for 2024, with total revenue reaching 4.187 billion, a year-on-year increase of 17.47%, and a net profit attributable to shareholders of 1.823 billion, up 30% year-on-year [1]. - The company is positioned as a leader in AI financial traffic monetization, leveraging advancements in AI technology to enhance its business model and service offerings [1][4]. - The recovery of the securities market has positively impacted the demand for financial information services, contributing to revenue and profit growth [1][2]. Summary by Sections Financial Performance - In 2024, the company achieved total revenue of 4.187 billion, a 17.47% increase from the previous year, and a net profit of 1.823 billion, reflecting a 30% year-on-year growth [1][6]. - Operating cash flow for 2024 was strong at 2.316 billion, exceeding net profit [1]. Business Segments - The advertising and internet business saw a significant revenue increase of 49% year-on-year, driven by heightened promotional demand due to the recovering securities market [2]. - The value-added telecommunications services segment generated 1.616 billion in revenue, a 5.7% increase, while software sales and maintenance declined by 18.61% [2]. Market Position and Future Outlook - The company is expected to benefit from the expanding ETF market, enhancing its wealth management services and product offerings [3]. - The integration of advanced AI models into various business applications is anticipated to drive innovation and efficiency within the company [4]. - Revenue projections for 2025-2027 are estimated at 5.245 billion, 5.985 billion, and 6.612 billion respectively, with net profits expected to reach 2.411 billion, 2.838 billion, and 3.202 billion [5][6].

股东叶琼玖保证向本公司提供的信息内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 浙江核新同花顺网络信息股份有限公司（以下简称"公司"）于 2024 年 11 月 30 日发布《关于持股 5%以上股东减持股份预披露的公告》（公告编号：2024-034）。 持有公司股份 61,730,614 股（占本公司总股本 11.48%）的股东、董事叶琼玖女 士，拟自本公告发布之日起 15 个交易日后的三个月内（2024 年 12 月 23 日-2025 年 3 月 22 日），以集中竞价交易方式或大宗交易方式合计减持本公司股份不超过 2,000,000 股（占公司总股本的 0.37%）。 近日，公司收到股东、董事叶琼玖女士出具的《关于浙江核新同花顺网络信 息股份有限公司股份减持计划实施完成的通知函》，本次减持计划已实施完成， 现将相关情况公告如下： 证券代码：300033 证券简称：同花顺 公告编号：2025-012 浙江核新同花顺网络信息股份有限公司 关于持股5%以上股东减持计划实施完成的公告 一、股份减持情况 1.股东减持股份情况 | 股 ...

Investment Rating - The report maintains a "Buy" rating for the company, expecting the stock price to outperform the industry index by more than 15% in the next six months [5][20]. Core Views - The company is expected to benefit from favorable policies and the integration of AI technology, which enhances its development prospects [1][9]. - The company reported significant revenue growth in 2024, with total revenue reaching 4.187 billion yuan, a year-on-year increase of 17.47% [1]. - The net profit for 2024 was 1.823 billion yuan, reflecting a year-on-year growth of 30% [1]. Financial Performance Summary - **Revenue Forecast**: The company's revenue is projected to grow from 3.564 billion yuan in 2023 to 6.819 billion yuan by 2027, with a compound annual growth rate (CAGR) of approximately 16.31% [1][12]. - **Net Profit Forecast**: The net profit is expected to increase from 1.402 billion yuan in 2023 to 3.137 billion yuan in 2027, with a CAGR of about 11.46% [1][12]. - **Earnings Per Share (EPS)**: The diluted EPS is forecasted to rise from 2.61 yuan in 2023 to 5.83 yuan in 2027 [1][12]. - **Return on Equity (ROE)**: The ROE is projected to remain strong, starting at 20.33% in 2023 and stabilizing around 19.84% by 2027 [1][12]. Business Segment Analysis - **Advertising and Internet Services**: This segment is expected to see significant growth, with a projected revenue increase of 49% in 2024 due to improved market conditions and enhanced product competitiveness [2][12]. - **Software Sales and Maintenance**: Revenue in this segment is forecasted to decline by 18.61% in 2024, primarily due to reduced demand following the completion of upgrades by brokerage firms [2][12]. - **Other Business Segments**: Fund sales and other transaction fees are expected to decrease by 20.50% in 2024, reflecting a decline in customer demand due to changing market conditions [2][12]. Strategic Developments - The company has integrated its large model technology with financial information services, enhancing its product offerings and customer engagement [4][9]. - The launch of an internet-based intelligent wealth management service platform aims to provide a comprehensive range of financial products and services, catering to diverse investor needs [9].

Investment Rating - The report maintains a "Buy" rating for the company [5][7]. Core Insights - The company reported a total revenue of 4.187 billion, a year-on-year increase of 17.47%, and a net profit attributable to shareholders of 1.823 billion, reflecting a 30% increase, slightly exceeding expectations [1]. - The company is positioned as a leader in AI financial traffic monetization, leveraging advancements in AI technology to enhance its business model and create new growth engines [1][4]. - The recovery of the securities market has led to increased demand for financial information services, contributing to the company's revenue and profit growth [1][2]. Revenue Breakdown - The value-added telecommunications services segment generated revenue of 1.616 billion, up 5.7% year-on-year, driven by increased client demand due to the recovering securities market [2]. - The advertising and internet business saw a significant revenue increase of 49% year-on-year, reaching 2.025 billion, attributed to heightened promotional demand and improved product competitiveness [2]. - Other business segments, such as software sales and maintenance, experienced a decline in revenue, with a 18.61% decrease, while fund sales and transaction fees dropped by 20.50% [2]. Future Growth Potential - The company is expected to benefit from the expansion of the ETF market, which will drive growth in its internet smart wealth management services [3]. - The "Ai Fund" platform has integrated with 222 fund and securities companies, offering a diverse range of financial products, which positions the company well for future growth [3]. - The report forecasts revenue growth for the years 2025 to 2027, estimating revenues of 5.245 billion, 5.985 billion, and 6.612 billion respectively, alongside net profits of 2.411 billion, 2.838 billion, and 3.202 billion [5][6]. Financial Metrics - The company achieved a net cash flow from operating activities of 2.316 billion in 2024, exceeding its net profit of 1.823 billion, indicating strong cash generation capabilities [1]. - The report outlines projected earnings per share (EPS) growth from 3.39 in 2024 to 5.96 by 2027, reflecting a positive outlook on profitability [6]. - Key financial ratios such as return on equity (ROE) are expected to improve from 22.9% in 2024 to 26.3% in 2027, indicating enhanced profitability and efficiency [6].