Smartkarma's AI Co-Pilot, Smartkarma

αSK

Smartkarma's AI Co-Pilot

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<ul>
 <li>Yusys Technologies is a dominant IT solutions provider for the Chinese banking industry, holding a leading market share for over a decade. The company is well-positioned to benefit from the ongoing digital transformation and technology localization trends within China's financial sector.</li>
 <li>Despite a recent decline in revenue, the company has demonstrated significant improvement in profitability, with rising net income and margins. This is supported by strong and growing operating and free cash flow, indicating healthy underlying financial performance.</li>
 <li>Future growth is expected to be driven by banks upgrading legacy systems, the adoption of new technologies like AI and cloud computing, and potential international expansion. However, the company faces risks from intense market competition and a high dependency on the IT spending of Chinese financial institutions.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  Yusys Technologies is a dominant IT solutions provider for the Chinese banking industry, holding a leading market share for over a decade. The company is well-positioned to benefit from the ongoing digital transformation and technology localization trends within China's financial sector.
  Despite a recent decline in revenue, the company has demonstrated significant improvement in profitability, with rising net income and margins. This is supported by strong and growing operating and free cash flow, indicating healthy underlying financial performance.
  Future growth is expected to be driven by banks upgrading legacy systems, the adoption of new technologies like AI and cloud computing, and potential international expansion. However, the company faces risks from intense market competition and a high dependency on the IT spending of Chinese financial institutions.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Yusys Technologies   (300674 CH) - Apr 2026

APAC IPOs & Placements, Aequitas Research

Nicholas Tan

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Yusys Technologies   / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/yusys-technologies-co-ltd" target="_blank" data-smartkarma-citation="entities:29780:1" rel="noopener">Yusys Technologies (300674 CH) </a>is looking to raise around US$350m in its upcoming H-share listing.</li>
<li>Yusys Technologies is a PRC leading fintech solution provider operating in the domestic and overseas market, providing full-stack product-oriented technology solutions to a wide spectrum of financial institutions.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Yusys Technologies (300674 CH) is looking to raise around US$350m in its upcoming H-share listing.
Yusys Technologies is a PRC leading fintech solution provider operating in the domestic and overseas market, providing full-stack product-oriented technology solutions to a wide spectrum of financial institutions.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Yusys Technologies A/H Listing: Market Share Loss but Profit Margins Have Expanded

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Thematic (Sector/Industry)

<ul><li>On 6 Feb, eight Chinese regulatory authorities jointly issued a notice on further preventing and addressing risks relevant to digital currencies (Yinfa No.42), reaffirming China’s restrictive stance on crypto trading and tightening oversight on tokenized real-world asset (RWA) and overseas issuance of RMB-referenced stablecoin.</li><li>The CSRC then followed with new practical regulatory guidelines for the tokenization of domestic assets issued overseas as asset-backed securities.</li><li>We believe the highlight of the notice lies in its first official definition of RWA by Chinese regulators and the establishment of a clear regulatory framework for domestic companies in pursuit of overseas RWA issuance. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

On 6 Feb, eight Chinese regulatory authorities jointly issued a notice on further preventing and addressing risks relevant to digital currencies (Yinfa No.42), reaffirming China’s restrictive stance on crypto trading and tightening oversight on tokenized real-world asset (RWA) and overseas issuance of RMB-referenced stablecoin.The CSRC then followed with new practical regulatory guidelines for the tokenization of domestic assets issued overseas as asset-backed securities.We believe the highlight of the notice lies in its first official definition of RWA by Chinese regulators and the establishment of a clear regulatory framework for domestic companies in pursuit of overseas RWA issuance. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Moves from a Blanket Ban on Crypto-Related to Tailored Rules for Tokenized RWAs

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Zijin Gold International / Equity Capital Markets

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, <a href="https://www.smartkarma.com/entities/zijin-gold" target="_blank" data-smartkarma-citation="entities:45448:1" rel="noopener">Zijin Gold</a> appears to be shining bright.</li>
<li>On the placements front, it was a relatively quiter week, as compared to some of the more recent weekly flows.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, Zijin Gold appears to be shining bright.
On the placements front, it was a relatively quiter week, as compared to some of the more recent weekly flows.


ECM Weekly (22 September 2025)- Chery, Zijin Gold, Orion, Myungin, Urban, Avepoint, Dongfang

China

Yusys Technologies Co., Ltd. desings and develops application software. The Company offers channel management systems, mobile banking, credit operations, big data, and Internet finance solutions. Yusys Technologies serves customers in China.

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Primer: Yusys Technologies (300674 CH) - Apr 2026

Yusys Technologies is a dominant IT solutions provider for the Chinese banking industry, holding a leading market share for over a decade. The...

αSK

Yusys Technologies A/H Listing: Market Share Loss but Profit Margins Have Expanded

Yusys Technologies is looking to raise around US$350m in its upcoming H-share listing. In this note, we look at its past performance and other deal...

Nicholas Tan

China Moves from a Blanket Ban on Crypto-Related to Tailored Rules for Tokenized RWAs

On 6 Feb, eight Chinese regulatory authorities jointly issued a notice on further preventing and addressing risks relevant to digital currencies...

CMB International

ECM Weekly (22 September 2025)- Chery, Zijin Gold, Orion, Myungin, Urban, Avepoint, Dongfang

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh