Research Brief | Zhongke Jiangnan hosts over 40 institutions including Orient Securities, extending digital RMB services to multiple scenarios, AI empowers fiscal supervision

Beijing Sino-Korea Jiangnan Information Technology Co., Ltd. (hereinafter referred to as “Sino-Korea Jiangnan”) held its 2025 annual performance briefing session via online and telephone channels on March 30, 2026, attracting more than 40 institutional participants including Orient Securities, Huatai Securities, CICC, BOC Fund, and others. The Company’s Chairman, Luo Panfeng, General Manager Zhu Ling, Secretary to the Board Zhang Chi, and Chief Financial Officer Yang Chengfen attended the meeting and engaged in in-depth exchanges with institutional investors on key topics including the Company’s 2025 operating performance, progress in digital renminbi business, SaaS service models, and AI technology applications.

Basic Information on Investor Activities

Performance Highlights: Steady Revenue Growth, Significantly Improved Operating Quality

In 2025, Sino-Korea Jiangnan achieved operating revenue of RMB 827 million, up 0.32% year over year; attributable net profit to shareholders was RMB 101 million; the comprehensive gross margin was basically in line with the previous year; and net cash flow from operating activities was RMB 130 million, up 45.21% compared with the same period last year. This shows that the Company’s main business has remained steady and that its operating quality has improved significantly.

In terms of business structure, the Company’s three major business segments have developed in synergy. As the core business, electronic payment digitization generated revenue of RMB 511 million in 2025, accounting for 61.75% of total operating revenue; meanwhile, smart finance and government/enterprise digital intelligence business were advanced in parallel, consolidating a diversified development pattern.

Business Focus: Digital Renminbi, SaaS, and AI Advanced on Multiple Fronts

Digital Renminbi Business: Scenarios Extend into Multiple Areas; Technology Reserves Enter the 2.0 Era

Since 2022, the Company has cooperated with multiple banks to conduct intelligent contract technology pre-research and scenario testing around digital renminbi in fiscal fund usage scenarios, validating first the entire-process closed-loop management model for fiscal funds based on intelligent contracts. In 2025, the Company further extended digital renminbi applications from the centralized treasury payment scenario to business scenarios such as payments from units’ own funds, batch payments, and payroll distributed by the finance authorities.

With the issuance of the People’s Bank of China’s “Action Plan for Further Strengthening the Management Service System of the Digital Renminbi and the Construction of Relevant Financial Infrastructure” in December 2025, digital renminbi entered the 2.0 era. Sino-Korea Jiangnan’s core product, the “Electronic Evidence Vault,” serves as a natural fit for the intelligent contract platform, enabling end-to-end traceability of fund management and penetrating supervision. Combined with the intelligent contract capability of the digital renminbi, it can implement “precise drip irrigation” for special funds. Its technology reserves and practical experience have become a core business support.

SaaS Business: Subscription Model Rolled Out; Reducing Customers’ Initial Investment

In the field of integrated applications of accounting electronic evidence, the Company has verified a SaaS platform subscription service model with annual charges. In 2025, it completed cooperation on subscription-mode services for government affairs cloud in provinces and cities such as Jilin and Guangxi for budget units, thereby successfully achieving contract revenue. This model not only effectively reduces the initial digitization investment costs for budget units and optimizes resource allocation, but can also seamlessly connect with the integrated fiscal budget system to ensure standardized, digital, and compliant management of all processes of official spending.

AI Technology Applications: Build an Intelligent Supervision System; Launch Research and Development of Vertical Large Models

In 2025, Sino-Korea Jiangnan built an “intelligent fiscal budgeting and execution supervision system” that integrates data, knowledge, and models. It embeds AI audit logic throughout the entire process of budget execution, enabling intelligent pre-payment auditing, dynamic monitoring, and risk early warning. At the same time, it developed an AI agent matrix and business assistants, implementing core scenario applications such as intelligent review, customer service Q&A, intelligent question answering for numerical queries, report analysis, compliance risk control, and more.

In the domain of special agricultural-related fund management, the Company completed verification for the deployment of a vertical AI large model for fiscal affairs. Relying on localized secure deployment, it builds an intelligent ecosystem of “domestic computing power + comprehensive large models + industry applications,” empowering end-to-end intelligent supervision of fund projects, supporting audit, risk early warning, and performance analysis. In the future, the Company plans to integrate data such as central and local fiscal policy regulations and institutional documents, systematically build vertical large models in the fiscal domain, and promote the rollout of core scenarios including “AI + financial and accounting supervision,” “AI + zero-based budgeting,” and “AI + local debt management.”

Future Outlook: Strengthen Independent Innovation and Reshape Core Competitive Advantages

Sino-Korea Jiangnan states that it will continue to focus on its core businesses in digital government affairs and digital finance, uphold the mission of “technology empowering digital government affairs,” leverage advantages in core technologies, industry experience, and policy coordination, strengthen independent innovation capability, achieve high-quality development across dimensions such as market expansion, product iteration, and service upgrades, and provide customers with better and more efficient digital-intelligent solutions.

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By Xiao Lang Express