In the tide of the digital economy, cooperation between technology companies can often bring "surprises". Good cooperation can help share resources, complement each other's advantages, and inject fresh blood into market competition.
On the afternoon of February 21, Zhongke Jincai released an article entitled "Zhongke Jincai and Microsoft China Held a Business Cooperation Seminar on SORA" on WeChat***, which stated that "after OpenAI opens SORA's commercialization capabilities to Azure, Zhongke Jincai will be the first to apply for and obtain SORA API subscription qualifications".
After the article was published, Zhongke Jincai rose to the limit. Subsequently, the Shenzhen Stock Exchange quickly issued a letter of concern. In the letter of concern, the Shenzhen Stock Exchange asked Zhongke Jincai to explain "the specific mode of cooperation with Microsoft China, the relevance of the company's main business, the main business income and proportion of related businesses, and the net profit and proportion".
The information released by Zhongke Jincai on the company and its impact on the stock price caused by doubts are not only related to the company's own reputation and market positioning, but also affect the interests of the majority of investors. Is there any cooperation between Zhongke Jincai and Microsoft, what is the correlation between the hot concept and the main business of Zhongke Jincai, and behind the short-term limit of the stock price, is it the enthusiasm of investors for the SORA concept, or the company stimulates the stock price by hyping the hot concept?
Rub on the Microsoft cooperation
The price limit reflects the optimistic expectations of the capital market on the prospects of scientific and technological cooperation.
According to the official information, Zhongke Jincai mainly provides financial technology solutions and data center solutions and is committed to promoting the digital transformation of the industry. Although the performance of Zhongke Jincai in recent years has not been satisfactory, the market still has great expectations for its cooperation with technology giants such as Microsoft. This expectation is not only based on Microsoft's brand influence, but also on the potential value of the commercialization capability of the SORA project. The capital market's response to such cooperation shows that investors recognize the potential of technological innovation and cooperation.
However, the letter of concern immediately issued by the Shenzhen Stock Exchange is a different voice. The regulator asked Zhongke Financial Finance to elaborate on the specific mode of cooperation and its relevance to the main business.
On February 22, Zhongke Jincai issued an announcement on the reply to the letter of concern of the Shenzhen ** Exchange. According to the announcement, the company's main business income in 2021 and 2022 will be 277.9 billion yuan, of which 05.9 billion yuan, Microsoft's related business income accounted for 2 percent of the company's main business income13%。In 2021 and 2022, the profit from the comprehensive solutions business contract involving Microsoft products was 906880,000 yuan. In 2023, the contract value of the integrated solution business involving Microsoft products is 26610,000 yuan, and the revenue is 200,000 yuan.
The staff of the secretary office of the board of directors of Zhongke Finance said that they did not know the specific purpose, because it was a business content. This move did not affect the rise in the stock price of Zhongke Jincai, and the market enthusiasm gradually faded.
Although there is cooperation, it may be far from what investors think. Zhongke Jincai also said in the announcement that the company's cooperation with Microsoft China is not an exclusive cooperation, and the company obtained the qualification of Microsoft's "maicpp data and artificial intelligence partner" in January 2024, and has not yet generated revenue, which does not have a significant impact on the company's short-term operating performance, and there is great uncertainty about whether it can develop rapidly and achieve expected revenue in the future.
Interestingly, Zhongke Jincai's WeChat *** has deleted the article "Zhongke Jincai and Microsoft China Held a Business Cooperation Seminar on SORA".
Zhongke Jincai is well versed in traffic passwords
In fact, this is not the first time that Zhongke Jincai has attracted market attention because of the release of information. In October 2023, the company announced a visit to NVIDIA's Silicon Valley headquarters and an exchange with NVIDIA CEO Jensen Huang. Subsequently, the stock price rose for two consecutive trading days. Soon after this announcement, the company's stock price achieved a daily limit for the next two trading days. Such a pattern seems to have gradually evolved into a common factor that triggers the sharp fluctuations in the stock price of Zhongke Jincai.
Beijing Zhongke Jincai Technology Co., Ltd. seems to have mastered the "traffic password" to attract market attention. From the perspective of historical experience, Zhongke Jincai has successfully attracted the attention of the market through the combination of popular concepts such as Internet finance, blockchain, and the metaverse, and the frequent emergence of computing power and AI-related concepts.
Zhongke Jincai has participated in the country's first Internet financial industry service platform. As the main shareholder of the initiator of Zhongguancun Internet Financial Service Center, Zhongke Jincai is mainly responsible for software development, technical support and financing for small and medium-sized enterprises. In the service platform, Zhongke Financial Finance will help the development of credit information services and credit information business of Zhongguancun Internet Financial Service Center, and solve the financing problems related to Zhongguancun science and technology enterprises by docking the funds of the Internet banking cloud platform and the financial product exchange; Provide comprehensive Internet finance and IT service support for Internet finance enterprises and technology-based small and medium-sized enterprises in Zhongguancun.
For P2P and crowdfunding, Zhongke Jincai believes that it is essentially inclusive finance and a useful supplement to traditional finance. In addition, through its own practice, it is believed that the development of Internet finance is not limited to the use of Internet technology by traditional financial enterprises or the construction of loan platforms by Internet enterprises, and the use of system advantages by technology-based enterprises and the use of upstream and downstream advantages by production and circulation enterprises to create customer stickiness, form an Internet closed loop of capital circulation, and occupy market share in the tide of Internet finance.
In 2015, the gold exchange market was hot. Zhongke Jincai became the second largest shareholder of Dalian Financial Assets Exchange. Now, according to the 2023 semi-annual report, the company holds less than 20% of the voting rights of the Dalian Financial Assets Exchange, has a director on the board of directors, and enjoys substantial participation in decision-making, and can participate in the formulation of the financial and operational policies of the investee through the representative, so as to exert significant influence on the investee.
In 2015, Zhongke Jincai introduced its business. It said that in 2015, the company will continue to focus on the development of Internet financial comprehensive services and intelligent banking business, based on meeting the growing demand for asset management in China, and helping small and medium-sized commercial banks to carry out Internet financial transformation in the direction of large asset management. The company will further promote the innovative business of Internet finance represented by financial asset exchanges, Internet banking, asset management, asset management, credit investigation, financial big data, and chain finance, and strive to form an Internet banking ecosystem with Internet banking platform and financial asset trading platform as the core.
It is not difficult to find that the above business covers all aspects of the Internet finance business, however, this strategy of relying on popular concepts for market operation may not reflect the company's real technical strength and performance potential.
Lost money for three consecutive years
According to public information, Beijing Zhongke Jincai Technology Co., Ltd. was established in December 2003 and is a company based on financial technology solutions and data center solutions, focusing on AGI and Web30. The research and development of core technologies of digital yuan and data elements is committed to promoting the digital transformation of the industry, and is a leading digital economy technology empowerment platform in China.
Repeatedly taking advantage of digital technology, Zhongke Jincai's performance level is shocking.
Zhongke Jincai has lost money for three consecutive years. Recently, Zhongke Jincai disclosed the 2023 express report, which shows that it is expected to lose 80 million yuan in 2023100 million yuan. Especially in the two years of 2021 and 2022, Zhongke Jincai has lost money for two consecutive years, and the net profit attributable to the parent company in the above two years is -9269 respectively370,000 yuan and -16.9 billion yuan.
According to Article 56 of the ** Law, if a listed company loses money for three consecutive years and fails to turn a profit within the following year, the ** exchange will decide to stop its ** listing and trading.