Analysis of Popular Driving Factors and Sustained Attention Value of Cuiwei Co., Ltd. (603123.SH)

The core catalyst for the recent rise in popularity of Cuiwei Co., Ltd. (603123.SH) is the “Action Plan on Further Strengthening the Construction of Digital RMB Management Service System and Related Financial Infrastructure” issued by the central bank on December 29, 2025 [1][2]. This plan will be implemented on January 1, 2026, with key changes including the conversion of digital RMB from central bank liabilities to commercial bank liabilities, interest payment on wallet balances, and promotion of cross-border applications [3]. Third-party payment accounts for 68.29% of the company’s main business, and its wholly-owned subsidiary Haike Rongtong has connected with the operating bank system designated by the Central Bank Digital Currency Research Institute to provide digital RMB acquiring services [4]. Benefiting from this positive news, the stock rose by the daily limit for two consecutive days on December 29-30, 2025, with a significant increase in trading volume, driving the digital RMB concept sector up by nearly 2% [3].

1. Policy breakthrough directly benefits payment service providers: Interest-bearing digital RMB and cross-border applications will increase merchant and user acceptance, and Cuiwei Co., Ltd.'s acquiring service is expected to continue to benefit.
2. Sector linkage effect is prominent: Brokerage views suggest that strengthened policies will drive new opportunities in banking IT, payment IT, and other fields [1]. As a core participant on the payment side, Cuiwei Co., Ltd. has high market attention.
3. Fundamentals support business synergy: Third-party payment is the company’s main revenue source, and the digital RMB business provides a new growth point for the synergistic development of traditional retail and payment services.

• Opportunities
  : Scenario expansion after the implementation of digital RMB policies and growth in cross-border payment demand; potential for synergistic development between payment business and traditional retail.
• Risks
  : Uncertainty about the promotion progress and actual impact of digital RMB; valuation correction risk after consecutive daily limits; competitive challenges faced by traditional retail business.

Cuiwei Co., Ltd. has become a popular stock due to the positive impact of the central bank’s digital RMB policy, and its third-party payment subsidiary’s digital RMB service has directly benefited it. Market sentiment is positive, and the sector linkage effect is obvious, but objective attention should be paid to factors such as policy implementation progress, short-term valuation risks, and traditional business challenges.