Analysis of the Strong Performance of Zhongke Jiangnan (301153)

The recent strong performance of Zhongke Jiangnan is mainly catalyzed by the Digital RMB 2.0 policy. On December 29, 2025, the People’s Bank of China issued the “Action Plan for Further Strengthening the Digital RMB Management Service System and Related Financial Infrastructure Construction”, announcing that Digital RMB would enter the 2.0 era on January 1, 2026, upgrading from a cash type to a deposit currency type with interest-bearing functions and covered by deposit insurance [1][3][4]. As a Digital RMB concept stock in the fintech sector, the company attracted capital attention after the policy was released; on December 31, 2025, its intraday increase reached 12.28%, and it entered the Dragon and Tiger List due to a daily increase of 15% [2][5].

From a technical perspective, Zhongke Jiangnan rose 23.35% cumulatively this week (December 28-31), closing at 24.72 yuan, with one limit-up and a total market value of 8.722 billion yuan [2]. The stock price strengthened in sync with the Fintech ETF index, showing overall sector linkage [2]. Dragon and Tiger List data shows signs of institutional participation, reflecting market recognition of the policy benefits [5].

Fundamentally, the company belongs to the software development/fintech sector, but its operating income and net profit attributable to shareholders from January to September 2025 decreased year-on-year, mainly due to high personnel investment, insufficient policy expectations and new project promotion, and lower-than-expected conversion of smart fiscal orders [7]. The actual business income brought by the Digital RMB 2.0 policy is uncertain; attention should be paid to the company’s technical reserves and implementation capabilities in this field [2].

In the short term, after the implementation of the Digital RMB 2.0 policy, the market is full of expectations for industrial opportunities brought by digital currency ecological construction, and digital currency concept stocks have risen overall [6]. However, it should be noted that short-term stock price increases are driven by sentiment, and there is a risk of correction [5]. In the long term, attention should be paid to whether the company can convert policy benefits into actual business growth and the implementation of Digital RMB-related businesses.

1. Policy catalysis is the core driving factor for this strong performance; the functional upgrade and system improvement of Digital RMB 2.0 bring new development opportunities to the fintech sector.
2. There is a short-term divergence between the company’s fundamentals and stock price performance; attention should be paid to the impact of performance decline on long-term stock prices.
3. The Dragon and Tiger List shows signs of institutional participation, but there are differences in market sentiment; some investors express caution about short-term speculative rises.

• The company’s performance from January to September 2025 decreased year-on-year, and the conversion of smart fiscal orders was lower than expected [7].
• The actual business income brought by the Digital RMB 2.0 policy is uncertain [2].
• Short-term stock price increases are driven by sentiment, and there is a risk of correction [5].

• The arrival of the Digital RMB 2.0 era provides policy support for the company’s business expansion in the fintech field.
• As a Digital RMB concept stock, the company is expected to benefit from industrial opportunities brought by digital currency ecological construction.

Zhongke Jiangnan entered the strong stock pool due to the catalysis of the Digital RMB 2.0 policy, rising 23.35% cumulatively this week. Although there are signs of institutional participation, there is pressure from performance decline in fundamentals, and the income from Digital RMB-related businesses is also uncertain. Short-term stock price increases are driven by sentiment, so attention should be paid to the risk of correction; in the long term, attention should be paid to the actual implementation of policy benefits and the company’s business expansion capabilities.