The ECB had previously stated that payments are now undergoing a potential disruptive shift, with people increasingly paying digitally rather than cash, and the digital euro is a more effective payment method than crypto assets.

Everything Editor: Yang Jian

NO.1 Digital Currency is heating up. According to the European Central Bank's recent announcement, 5 companies or organizations stand out from 54 suppliers and will work with the European Central Bank to develop a prototype of the digital euro. It is reported that these five companies or organizations will study different specific application scenarios of potential digital euros respectively. The ECB had previously stated that payments are now undergoing a potential disruptive shift, with people increasingly paying digitally rather than cash, and the digital euro is a more effective payment method than crypto assets.

In addition, cross-border payment became an important topic at the SCO Summit. According to Xinhua News Agency , Shanghai Cooperation Organization member states should implement the roadmap of member states to expand their local currency settlement share, strengthen the construction of the cross-border payment and settlement system for local currency, promote the establishment of the organization's development bank, and accelerate the process of regional economic integration . China will hold the meeting of Ministers of Development Cooperation of the Organization and the Industrial Chain and Supply Chain Forum next year, establish the China-Shanghai Cooperation Organization Big Data Cooperation Center, and create a new engine for common development. China is willing to carry out cooperation in the field of aerospace with all parties, and by providing satellite data services, it supports agricultural development, interconnection construction, disaster reduction and relief and other causes among all parties.

Comment: Regarding digital currency and cross-border payments, there are also relevant major statements and policies in China. Mu Changchun, the Institute of Digital Research, , said that Mu Changchun, director of the Institute of Digital Research, said at the "Eleventh China Payment and Clearing Forum" that once the digital RMB payment instructions are verified by the relevant systems, they must be implemented unconditionally and irrevocable. digital RMB is naturally final in settlement, not affected by the "zero point rule", and has legal certainty. At the same time, Shenzhen also supports innovation in digital RMB application scenarios and expands cross-border payment scenarios in an orderly manner.

Changliang Technology: company's channel business products include payment product line, open platform product line, digital RMB wallet product line, comprehensive front-end product line, and various products, and there are implementation cases in state-owned banks, joint-stock banks, rural commercial banks, , and urban commercial banks. The company's financial technology business has achieved certain success in Southeast Asia. We believe that in Russia and Eurasian Economic Union and other markets, we will have more market opportunities. The company is currently planning related businesses in Southeast Asia, and closely monitors the Middle East and Russian markets. While continuously improving products and forming successful cases, it will consider entering other markets in a timely manner. The company mainly builds the bank's payment and clearing business system and technically directly connects to the CIPS system. Cross-border payment business is currently mainly developing based on Changliang's own technological advantages and product advantages.

Rendong Holdings: wholly-owned subsidiary Helibao has the full business " Payment Business License " issued by People's Bank of China . The business types include Internet payment, mobile phone payment, bank card collection business (covering the whole country), has cross-border RMB business qualification and business license, and is a leading third-party payment institution in China. Helibao is also a member unit of the board of directors of China Payment and Clearing Association, a member unit of the online payment application working committee of China Payment and Clearing Association, and a member unit of the Financial Technology Professional Committee of China Payment and Clearing Association.

Beijing North: has participated in the construction of payment and settlement systems of many banks, including assisting some customers to access the SWIFT system and CIPS system. Digital currency has entered the early stage of promotion and application. The company has provided software development and testing services to large state-owned commercial banks in the field of digital currency application. The company has participated in the construction of the digital RMB ecosystem, and its business has penetrated into all levels of the ecosystem, mainly concentrated in the second-tier operating institutions and the second-tier service cooperation institutions. The promotion pace of digital RMB is affected by national policies. As the scenario continues to expand, it will bring more business volume to the company in the future. The company will make technology, talents and project reserves in advance to form rapid development capabilities and mature products, and strive to gain better market share in the future large-scale promotion.

NO.2 The Ministry of Industry and Information Technology said: It is currently organizing relevant units to study and promote the application of eSIM technology on tablets, portable computers and smartphone devices, and expand the scope of application of eSIM technology after conditions are ripe. Among the " terminal manufacturers, Apple and OPPO have launched related new products this month. The iPhone 14 series sold in the United States have all removed the SIM card slot and completely relies on eSIM technology. In addition, to promote this technology, Apple also posted a document on September 15, trying to show the advantages of eSIM technology. eSIM card is directly soldered in the equipment motherboard and cannot be disassembled. The advantage is that it can significantly reduce the card size and reduce power consumption. For users, it can safely and flexibly change the services of different mobile operators. As of October 2020, China's three major luck has been carried out. All businessmen have been approved by the Ministry of Industry and Information Technology for eSIM technology application services in the Internet of Things field.

Tianyu Information : company's eSIM card products have been shipped in batches, and customers have communication operators, such as those used for smart meter and mobile terminal manufacturers, and can also be used for wearable devices. The company has participated in China Unicom's eSIM No. 1 dual platform business, providing relevant technical support for this business, and the company also has digital currency hard wallet-related products. Acquisition of part of Qianbao Technology held by 00 million Zanpu to seize the market opportunities brought by the development of digital RMB-related industries, Qianbao Technology is a national third-party payment institution engaged in integrated payment business. It mainly provides domestic bank card collection , Internet payment, foreign bank card collection and digital RMB collection services for large chains and small and medium-sized merchants.

Hengbao Co., Ltd. : company's eSIM card product has completed the filing test of the three major operators and has completed the testing and commercial use of multiple projects. As one of the first companies to participate in the "Digital RMB Pilot Project", the company has established a complete digital RMB product and service system, and has created digital RMB including issuance terminals, acceptance terminals, digital currency hardware wallets, etc. Full series of products and solutions. In 2021, the company brought a full series of digital RMB products and solutions to the China International Service Trade Fair Financial Services Special Exhibition, and jointly explored the implementation of digital RMB application scenarios with many bank customers, realizing the beneficial exploration and expansion of digital RMB in multiple application scenarios such as retail, transportation, public services, digital tourism, digital parks, and Winter Olympics, and achieved a small amount of supply, laying the foundation for the company's digital RMB business.

Dongxin Heping : Company promotes eSIM platform and SIM to operators and manufacturers with existing cooperation foundations Plus platform services, and through cooperation with platform services, we strive for card issuance share; eSim and management platforms have been commercialized in small batches by operators. The company has patents for digital currency wallet hard wallet application and patents for obtaining digital currency key data query and acquisition methods and device. These two patents are the company's technical reserves for the security management of digital currency. The company has established a special technical team to explore the market trends with Internet payment, smart card and payment security, mobile payment and NFC as the main technical directions.

Const : On September 16, a total of 22 institutions surveyed

Survey minutes: The pressure, temperature and humidity detection instrument products in the core business cover many products suitable for various segmented scenarios. Friends are mainly FLUKE, Druck, WIKA, etc. that are more familiar to everyone. According to estimates, the overall domestic market capacity is about 3 billion yuan, and the global market capacity is estimated to be about 12 billion yuan based on the scale and maturity of industrial economy. The company's market share in domestic pressure and temperature detection products is about 10%. The detection software management platform segment in the growth business of belongs to the vertical segment. Our conservative estimate is about 3 billion yuan. The main participants include a three-dimensional world that accumulates more customer resources in the medical and pharmaceutical industry, as well as domestic and foreign companies, with more participants. At present, the company is more positioned in the measurement link of toG and toB customers. In the sensor vertical industry in the growth business, we are more positioning the wireless pressure detection instrument at the front end of high-end sensors and pressure transmitter , because at this time, the output value will be more easily increased.The main participants in pressure transmitter are international companies such as Yokogawa Instrument, ABB, Emerson , and other international companies. The domestic scale of this market is 3-4 billion yuan;

Dazhi Technology : Since September, a total of 48 institutions have surveyed

Research minutes: The company's transformation to new energy batteries is mainly based on the industry development background, future development trends and policy orientation of new energy power batteries. The company is optimistic about the broad prospects of the new energy power battery business and the industrial background of the new energy business team. Therefore, in 2020, the company began to enter the new energy battery industry and formed a development model of the dual main business of "surface engineering chemicals + new energy batteries". 's first new energy battery 1.8Gwh production line has completed the capacity climb in the first half of the year. After the existing production line is put into production, the company will adjust the original production line for the production of ternary lithium batteries to the production of lithium iron phosphate battery according to the order in hand. Due to the different processes of lithium iron phosphate battery cells and ternary battery cells, due to factors such as the reduction in the coating speed of lithium iron phosphate and the longer baking time, the actual production capacity of the company's new energy battery production line is 1.04GWh, and it is currently in full production and sales state.

Oriental Securities 0 released a research report on September 18 saying that gave Honghua Digital Technology (688789.SH, latest price: 167.88 yuan) buy rating . The rating reasons mainly include: 1) digital printing equipment has strong technology, with a revenue/performance CAGR of up to 35.13%/43.04% in the past four years; 2) The company benefits from the rapid improvement of penetration rate + production capacity expansion + track ductility; 3) Equipment and ink integration, ink consumables build a cornerstone of long-term and stable growth. Risk warning: The global epidemic recovery does not meet expectations; the industry penetration rate does not meet expectations; the risk of core component nozzles relying on external procurement; the expansion of production capacity does not meet expectations; the risk of rapid growth of accounts receivable; the risk of large fluctuations in raw material prices; the risk of acquisitions not meeting expectations; the risk of exchange profit and loss risks; the impact of the calculation results when changes in assumption conditions.

Oriental Securities 0 released a research report on September 17, saying that gave Kaisheng Technology (600552.SH, latest price: 9.47 yuan) to buy rating . The rating reasons mainly include: 1) The overall business continues to improve, and the new materials and government subsidies hedges electrographics business declines; 2) The new materials sector is emerging in an endless stream; 3) UTG capacity construction is smooth; 4) The electronic display business trough is about to be overcome. Risk warning: UTG's volume and price are lower than expected, indicating that module production expansion is lower than expected, customer changes risks, and government subsidies fluctuations.

China Post Securities 0 released a research report on September 18, saying that gave Yueyang Xingchang (000819.SZ, latest price: 21.76 yuan) recommended rating . The rating reasons mainly include: 1) Q2 performance meets expectations; 2) High-end polyolefin project has the leading domestic production process, and is expected to be put into production next year to help the company; 3) Layout the deep processing projects of cresol and petroleum coke, and continue to deepen and strengthen the existing industrial chain. Risk warning: Oil prices fluctuate significantly, terminal demand is lower than expected, and the company's project progress is lower than expected.

Minsheng Securities 0 released a research report on September 17, saying that gave Guangyang Co., Ltd. (002708.SZ, latest price: 7.5 yuan) recommended rating . The rating reasons mainly include: 1) The new energy business continues to be realized, opening the company's second growth curve; 2) Acquisition of Weihai Shiyi, aiming at the core circuit board track, and laying out the automotive electronics business. Risk warning: The uncontrollable epidemic has led to intensification of shipping costs; integration risks, etc.

Guojin Securities 0 released a research report on September 18 saying that gave Qi'anxin (688561.SH, latest price: 54.04 yuan) to buy rating . The rating reasons mainly include: 1) The leading position is stable and the market expansion ability is strong; 2) The technological advantages are significant, focusing on new demands of downstream customers; 3) The network security industry continues to be in a high prosperity and has huge room for growth for leaders. Risk warning: The implementation of the network security policy is not as expected; the company's R&D platform is not as expected; the company's risk of not yet making profits; the risk of lifting the restricted shares.

Zhejiang Securities 0 released a research report on September 17, saying that gave Kamet gas (002549.SZ, latest price: 21.18 yuan) to buy rating .The rating reasons mainly include: 1) The highest single electronic special gas order signed so far is 143 million yuan, and the annual performance is expected to grow high; 2) The 2022 restricted stock incentive plan has been released, with a wide coverage demonstrating management confidence; 3) Traditional business is stable and improving, and new products such as carbon dioxide are expanding production capacity, hydrogen peroxide and other new products help to grow; 4) Electronic special gas creates a new growth pole: rare gas laser gas continues to increase volume and enters synthetic electronic special gas.

Guojin Securities 0 released a research report on September 18, saying that gave Tonglian Precision (688210.SH, latest price: 23.08 yuan) to buy rating , with a target price of 33.39 yuan. The rating reasons mainly include: 1) The first-tier enterprises in the domestic MIM industry, with rapid performance growth in 1H22; 2) The MIM process advantages are obvious and the market prospects are broad; 3) Strengthen business synergy and help the second growth point. Risk warning: risks of conflict of interest, dependence on Apple's industrial chain, dependence on outsourcing of core feeding links, repeated COVID-19 epidemic, single downstream application areas of products, and lifting of restricted shares.

Huaxin Securities 0 released a research report on September 18, saying that gave Ruikeda (688800.SH, latest price: 140.23 yuan) to buy rating . The rating reasons mainly include: 1) Deeply engaging in communications + leading the layout of new energy, accurately positioning market demand; 2) Continuous penetration of high-speed + high-voltage ends, and the energy storage end connects to the high-prosperity track; 3) Establish barriers for technology and customer advantages, and accelerate growth at home and abroad.

Guojin Securities 0 released a research report on September 18, saying that gave Golisi (603808.SH, latest price: 8.76 yuan) to buy rating . The rating reasons mainly include: 1) Leading mid-to-high-end women's clothing, expanding business territory with external mergers and acquisitions; 2) Continuous optimization of design and marketing, and equity incentives demonstrate confidence; 3) Others: From the development history of global luxury goods leaders, the advanced nature of the multi-brand model. Risk warning: The epidemic at home and abroad repeatedly affects store sales, channel expansion is less than expected, and online performance is lower than expected.

East Asia Qianhai Securities 0 released a research report on September 18, saying that gave Rongchang Bio (688331.SH, latest price: 53.1 yuan) recommended rating . The rating reasons mainly include: 1) Digging out $100 billion in the blue ocean market for autoimmune diseases, and Tatecipe is at the forefront; 2) Grasping the historical opportunities in the era of multispecific drugs, Vidicitumab is the first to emerge; 3) Three major technology platforms with good synergy have formed to form the company's core competitiveness.

West China Securities 0 released a research report on September 18 saying that gave Xuerong Bio (300511.SZ, latest price: 7.14 yuan) an increase in holdings rating . The rating reasons mainly include: 1) The revenue of the leading edible fungi maintains stability, and the sluggish market drags down 20212022H1; 2) The off-season is not slow, and multiple factors promote the general rise in edible fungi prices; 3) The production base marketing network is spread across the country, and the products directly reach C-end customers. Risk warning: Risk of fluctuations in raw material prices, risk of intensifying market competition leading to a decline in product prices, and risk of seasonal fluctuations in sales prices and profits.

BOC Securities 0 released a research report on September 18 saying that gave Jiayou International (603871.SH, latest price: 21.12 yuan) to buy rating . The rating reasons mainly include: the postponement of the acceptance procedure for Casa's fundraising and investment project, which has no significant impact on the company's normal operations. Risk warning: repeated outbreaks of the epidemic beyond expectations, geopolitical risks, risks of large customer loss and defaults, etc.

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