Hithink RoyalFlush Information Network (Hithink; ) is a Chinese financial data and software company headquartered in Hangzhou. The company has developed the Tonghuashun

mobile app A mobile application or app is a computer program or software application designed to run on a mobile device such as a smartphone, phone, tablet computer, tablet, or smartwatch, watch. Mobile applications often stand in contrast to desktop appli ...

used for

stock trading In finance, a trade is an exchange of a security such as stocks, bonds, commodities, currencies, derivatives or any valuable financial instrument for "cash". Such a financial transaction is usually done by participants of an exchange such as a ...

and the iFinD Financial Data Terminal.

Background

In 1994,

Zhejiang University Zhejiang University (ZJU) is a public university, public research university in Hangzhou, Zhejiang, China. It is affiliated with the Ministry of Education (China), Ministry of Education. The university is part of Project 211, Project 985, and D ...

graduate Yi Zheng co-founded his own company, Hangzhou Hexin. Yi acquired the initial capital by writing security analysis software for a

securities brokerage A broker is a person or entity that arranges transactions between a buyer and a seller. This may be done for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neither ...

he was still an

electrical engineering Electrical engineering is an engineering discipline concerned with the study, design, and application of equipment, devices, and systems that use electricity, electronics, and electromagnetism. It emerged as an identifiable occupation in the l ...

student. In 2001 he founded Shanghai Hexin which was the predecessor to Hithink. In 2007 Shanghai Hexin acquired Hangzhou Hexin and in July it moved to Hangzhou were it was rebranded to Hithink. In 2009, Hithink held its initial public offering becoming a listed company on the ChiNext section of the

Shenzhen Stock Exchange The Shenzhen Stock Exchange (SZSE; ) is a stock exchange based in the city of Shenzhen, in the People's Republic of China. It is one of three stock exchanges operating independently in Mainland China, the others being the Beijing Stock Excha ...

. In 2012,

Wind Information Wind (Wind Information; ) is a Chinese financial data and software company headquartered in Shanghai. The company produces the Wind Financial Terminal which is considered the largest Chinese domestic alternative to the Bloomberg Terminal. Ou ...

sued Hithink stating the iFinD Data Terminal infringed on its

intellectual property rights Intellectual property (IP) is a category of property that includes intangible creations of the human intellect. There are many types of intellectual property, and some countries recognize more than others. The best-known types are patents, co ...

. 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). In 2015, the

China Securities Regulatory Commission The China Securities Regulatory Commission (CSRC) is a government agency directly under the State Council of the People's Republic of China. It is the main regulator of the securities industry in China. History Indicative of the role of the C ...

(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. In 2017, the CSRC fined Hithink 200,000 yuan for sharing a piece of outdated news that stated

Fosun International Fosun International Limited is a Chinese multinational conglomerate holding company. Founded in 1992 by Guo Guangchang and four others, the company is headquartered in Shanghai and was incorporated in Hong Kong in 2004. Its Co-CEOs are Chen ...

’s founder Guo Guangchang was missing which caused panic among its shareholders. 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. In June 2022, the Tinghuashun app went down for a short period due to

Huawei Huawei Technologies Co., Ltd. ("Huawei" sometimes stylized as "HUAWEI"; ; zh, c=华为, p= ) is a Chinese multinational corporationtechnology company in Longgang, Shenzhen, Longgang, Shenzhen, Guangdong. Its main product lines include teleco ...

Cloud crashing. In November 2024, the CSRC ordered Hithink to suspend its investment advisory service unit from adding new clients for three months as its live streaming business failed to comply with the securities rules. It also criticized its compliance control when collaborating with securities companies to provide investment consulting services. In December 2024,

Bloomberg News Bloomberg News (originally Bloomberg Business News) is an international news agency headquartered in New York City and a division of Bloomberg L.P. Content produced by Bloomberg News is disseminated through Bloomberg Terminals, Bloomberg T ...

reported that Hithink significantly benefited from China's stimulus blitz program in September that year. Hithink shares had more than doubled in price during 2024. One of the reasons speculated was the stimulus resulted in higher stock trading volume that could boost demand for better financial information from retail investors.

References

External links

* {{Authority control Companies based in Hangzhou Companies listed on the Shenzhen Stock Exchange Financial data vendors Financial services companies established in 2001 Software companies of China

Background

See also

References

External links