Hithink RoyalFlush Information Network (Hithink; Chinese: 同花顺; pinyin: Tónghuāshùn) is a Chinese financial data and software company headquartered in Hangzhou.
 | |
| Tonghuashun | |
Native name | 浙江核新同花顺网络信息股份有限公司 |
| Formerly | Shanghai Hexin |
| Company type | Private |
| SZSE: 300033 | |
| Industry | Financial services Technology |
| Founded | August 24, 2001 |
| Founder | Yi Zheng |
| Headquarters | Hangzhou, Zhejiang, China |
Key people | Yi Zheng (Chairman & CEO) |
| Products | Tonghuashu iFinD |
| Revenue |  CN¥3.56 billion (2023) |
 CN¥1.40 billion (2023) | |
| Total assets | CN¥9.85 billion (2023) |
| Total equity | CN¥7.32 billion (2023) |
Number of employees | 5,492 (2023) |
| Website | www |
| Footnotes / references [1] | |
The company has developed the Tonghuashun mobile app used for stock trading and the iFinD Financial Data Terminal.
Background
editIn 1994, Zhejiang University graduate Yi Zheng co-founded his own company, Hangzhou Hexin. Yi acquired the initial capital by writing security analysis software for a securities brokerage he was still an electrical engineering student. In 2001 he founded Shanghai Hexin which was the predecessor to Hithink.[2][3]
In 2007 Shanghai Hexin acquired Hangzhou Hexin and in July it moved to Hangzhou were it was rebranded to Hithink.[3]
In 2009, Hithink held its initial public offering becoming a listed company on the ChiNext section of the Shenzhen Stock Exchange.[3][4]
In 2012, Wind Information sued Hithink stating the iFinD Data Terminal infringed on its intellectual property rights. In 2016, the Shanghai No. 1 Intermediate Court ruled in favour of Wind Information stating Hithink had to cease operating the iFinD terminal and pay 3.35 million yuan to Wind in compensation. In 2017, the Shanghai High People's Court upheld the ruling but did not say whether Hithink could continue operating the iFinD Data Terminal (which according to Hithink has been modified significantly since the lawsuit started).[5]
In 2015, the China Securities Regulatory Commission (CSRC) fined Hithink for developing systems that enabled investors to trade stocks without giving their real identities which allowed it to profit by "knowingly" providing the software to unqualified clients.[6] In 2017, the CSRC fined Hithink 200,000 yuan for sharing a piece of outdated news that stated Fosun International’s founder Guo Guangchang was missing which caused panic among its shareholders.[7]
In October 2021, Hithink's Tinghuashun app went down for one hour. The temporary disruption caused investors losses and leading them to seek compensation. The regulators issued a warning to Hithink.[8] In June 2022, the Tinghuashun app went down for a short period due to Huawei Cloud crashing.[9]
See also
editReferences
edit- ^ "2023 Annual Report" (PDF). Sina.
- ^ "Yi Zheng". Forbes. Retrieved 17 October 2024.
- ^ a b c "同花順吹響軟件上市號角易崢輕取10億市值". news.cnyes.com (in Chinese (Taiwan)). Retrieved 17 October 2024.
- ^ Yu, Hongyan (19 November 2011). "Stock software maker to appear on ChiNext". www.chinadaily.com.cn. Retrieved 17 October 2024.
- ^ "Quick Take: Court Upholds Infringement Award Against Market Data Provider - Caixin Global". Caixin Global. 6 December 2017. Retrieved 17 October 2024.
- ^ "China punishes three firms blamed for stock volatility". The Business Times. 4 September 2015. Retrieved 17 October 2024.
- ^ Ge, Celine (24 July 2017). "Fosun's Guo urges investors to make rumourmongers pay". South China Morning Post. Retrieved 17 October 2024.
- ^ Dou, Shicong (29 October 2021). "China's Hithink Gets Warning From Regulators After Stock Trading Platform Glitch Causes Chaos". www.yicaiglobal.com. Retrieved 17 October 2024.
- ^ Deng, Iris (13 June 2022). "Huawei's cloud service in Guangdong hit by glitch on Monday". South China Morning Post. Retrieved 17 October 2024.