Core Viewpoint - Jiufang Zhitu Holdings (09636.HK) experienced a significant stock price drop of 10.98% after a strong opening, raising concerns among investors despite a substantial increase in its stock price over the past year [2][7]. Financial Performance - The company announced a profit forecast for the first half of the year, expecting a net profit attributable to shareholders between 830 million and 870 million RMB, a turnaround from a loss of 174 million RMB in the same period last year [4]. - Revenue for the first half is projected to be approximately 2.1 billion RMB, representing an increase of 1.202 billion RMB compared to the previous year [4]. - The surge in revenue and profit is attributed to the strong sales of the company's investor education products, with expected order amounts reaching 1.703 billion RMB, an increase of 772 million RMB year-on-year [5]. Market Context - Jiufang Zhitu Holdings operates in a sector closely tied to the performance of capital markets, which have been active since September 2022, contributing to the company's significant performance improvement [5][6]. - The overall market environment has seen increased trading activity, with the Shanghai Composite Index reaching 3,500 points, leading to heightened investor confidence and demand for the company's products and services [6][7]. Investor Sentiment and Risks - Despite the positive financial outlook, investor sentiment turned negative, leading to a sell-off as concerns about the sustainability of the stock's high valuation emerged, with a dynamic P/E ratio of approximately 70, higher than industry peers [7]. - The company's reliance on live-stream marketing has raised compliance concerns, especially after regulatory scrutiny regarding "illegal stock recommendations" [7]. - There are reports of user complaints regarding misleading marketing practices, which have contributed to a trust crisis for the company, raising questions about its future ability to regain investor confidence [7].

Summary of Key Points Core Viewpoint - As of July 14, a total of 138 stocks reached their 52-week highs, indicating a strong performance in the market, with notable leaders including Green Heart Group Holdings, OK Blockchain, and Pearl River Steel Pipe [1]. Group 1: Top Performers - Green Heart Group Holdings (02999) achieved a closing price of 0.013 with a peak of 0.017, marking a 70.00% increase [1]. - OK Blockchain (01499) closed at 0.680, reaching a high of 0.690, reflecting a 48.39% rise [1]. - Pearl River Steel Pipe (01938) had a closing price of 0.335 and a peak of 0.340, resulting in a 33.33% increase [1]. Group 2: Other Notable Stocks - Weishi Jiajie (00856) saw a 32.01% increase, closing at 8.870 with a high of 11.300 [1]. - Cloud Intelligence (09678) reached a high of 520.000, closing at 510.000, which is a 20.99% increase [1]. - China Chengtong Development Group (00217) closed at 0.165 with a peak of 0.166, marking a 14.48% rise [1]. Group 3: Additional Stocks with Significant Increases - Sihuan Pharmaceutical (00460) closed at 1.380, reaching a high of 1.430, which is a 14.40% increase [1]. - Taited Pharmaceutical (03880) had a closing price of 36.950 and a peak of 37.400, reflecting a 13.85% rise [1]. - Beihai Kangcheng-B (01228) closed at 0.850 with a high of 0.960, resulting in a 12.94% increase [1].

本公告乃由九方智投控股有限公司（「本公司」，連同其附屬公司，統稱「本集團」） 根據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09(2)條以及香港 法例第571章證券及期貨條例第XIVA部項下之內幕消息條文（定義見上市規則）而 作出。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不對因本公告全部或任何部分內容而產生或因倚賴 該等內容而引致之任何損失承擔任何責任。 JF SmartInvest Holdings Ltd 九方智投控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：9636） 正面盈利預告 本公司股東及潛在投資者於買賣本公司股份時務請審慎行事，並應注意過度依賴 或使用上述資料可能引致投資風險。 承董事會命 九方智投控股有限公司 董事會主席 陳文彬 中國香港，2025年7月13日 截至本公告日期，執行董事為陳文彬先生、陳冀庚先生及張培紅先生，非執行董 事為嚴明先生及CHEN NINGFENG女士，以及獨立非執行董事為趙國慶博士、范 勇宏先生及田舒先生。 2 本公司董事（「董事」）會（「董事會」）謹此知 ...

Group 1 - The company announced a dividend plan based on the 2024 annual report, distributing HKD 0.33 per share, totaling approximately HKD 148 million, with a payout ratio of 50.3% [1] - In 2024, the company achieved a net profit attributable to shareholders of approximately RMB 272 million, a year-on-year increase of 42.8%, and revenue of approximately RMB 2.306 billion, a year-on-year increase of 17.3% [1] - The total order amount for 2024 reached approximately RMB 3.506 billion, a year-on-year increase of 49.3%, with the number of paying users reaching 181,500, a year-on-year increase of approximately 149.4% [1] Group 2 - The company continued to deepen its investment in technology research and development, with R&D expenditure of approximately RMB 319 million in 2024, a year-on-year increase of 10.9%, accounting for about 13.8% of total revenue [2] - Under the "technology + R&D" dual-drive strategy, the company launched the industry's first stock learning product "Yizhi Gudao" and several AI investment advisory products [2] - The company aims to deepen the application of AI technology in investment advisory services, promoting a "digital intelligence" transformation and building an intelligent investment advisory ecosystem [2]

Group 1: Securities Sector - The report indicates a significant increase in IPO approvals, with 149 companies approved in June alone, accounting for 86% of the total for the year, a year-on-year increase of 452% [2] - Investment recommendations focus on four main lines: (1) Hong Kong Stock Exchange benefiting from deepening connectivity and the return of Chinese concept stocks; (2) multi-financial companies with strong performance and high dividends; (3) brokerage firms showing clear improvement in performance with significant mismatches in high profitability and low valuation; (4) Sichuan Shuangma, which is expected to benefit from the technology sector [2] Group 2: Insurance Sector - The insurance industry reported a premium income of 3.06 trillion yuan in the first five months of 2025, a year-on-year growth of 3.77% [40] - The report highlights the introduction of a new commercial health insurance innovative drug directory, which aims to include high-value innovative drugs beyond basic insurance coverage [41] - The insurance sector has seen a capital increase of nearly 50 billion yuan in the first half of the year, with 13 companies completing or announcing capital increase plans [42]

JF SmartInvest Holdings Ltd 九方智投控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：9636） 董事名單與其角色和職能 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 嚴明先生 CHEN NINGFENG女士 獨立非執行董事 趙國慶博士 范勇宏先生 田舒先生 董事會主席 陳文彬先生 1 九方智投控股有限公司的董事（「董事」）會（「董事會」）成員載列如下： 執行董事 陳文彬先生 陳冀庚先生 張培紅先生 非執行董事 董事會設三個董事委員會。下表提供各董事會成員於該等委員會中所擔任職位的 資料。 | 董事委員會 | 董事 | | | | --- | --- | --- | --- | | 審核委員會 | 薪酬委員會 | 提名委員會 | | | 陳文彬 | 成員 | 主席 | | | 陳冀庚 | | | | | 張培紅 | | | | | 嚴明 | | | | | 成員 | CHEN NINGFENG | | | | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 提名委員會組成變動 九方智投控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈，本公 司提名委員會（「提名委員會」）的組成作出以下變動，自2025年7月1日起生效： JF SmartInvest Holdings Ltd 九方智投控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：9636） 上述變動乃因應遵守香港聯合交易所有限公司證券上市規則（「上市規則」）及上市 規則附錄C1所載企業管治守則的修訂而作出，該修訂將於2025年7月1日起生效。 董事會認為完善的企業管治在本公司整體表現中發揮重要作用及相信實施該等變 動可以加強提名委員會的成效及多元化，進一步提升本公司整體的良好企業管治 常規。 董事會藉此機會對CHEN NINGFENG女士及范勇宏先生於提名委員會擔任新角色 表示熱烈歡迎。 承董事會命 九方智投控股有限公司 董事會主席 (a) 非執行董事CHEN NINGFENG ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 （於開曼群島註冊成立的有限公司） （股份代號：9636） 於2025年6月20日舉行的 股東週年大會投票結果 茲提述九方智投控股有限公司（「本公司」）日期為2025年5月20日的通函（「該通 函」），包含（其中包括）本公司股東週年大會（「股東週年大會」）的通告（「該通 告」）。除文義另有所指外，本公告所用詞彙與該通函所界定者具有相同涵義。 於2025年6月20日（星期五）舉行之股東週年大會上的所有提呈決議案均已進行投 票表決。 本公司於股東週年大會當日已發行股份總數為448,357,000股。根據香港聯合交易 所有限公司證券上市規則（「上市規則」）第17.05A條及17.12(2)條，The Core Trust Company Limited就其作為本公司於2021年6月1日採納的受限制股份單位計劃和 本公司於2024年9月27日採納的股份激勵計劃的受託人分別持有的21,320,000股 和7,070 ...

Core Viewpoint - The forum emphasizes the importance of developing a robust capital market in China as part of the financial power strategy, highlighting the need for investors to adapt their investment approaches to the new normal [1][2]. Group 1: Economic and Market Context - The current global economic and geopolitical landscape is undergoing significant changes, necessitating a stable and active capital market, which has become a top-level design priority [1]. - The recent secondary listing of CATL in Hong Kong set a record for the largest IPO in nearly three years, indicating a critical moment for the development of direct financing and capital markets in China [2]. Group 2: Expert Insights - Liu Jipeng argues that revitalizing the stock market is essential for reversing economic downturns and that a strong financial sector will enhance China's position in global power dynamics [2]. - Xiao Lisheng expresses optimism about the medium to long-term development of China's stock market, noting signs of stabilization in consumer spending and the real estate sector [3]. - Hu Xianghui discusses the journey of China's technological self-sufficiency and its importance in overcoming the middle-income trap, emphasizing sectors like AI and biotechnology as future investment opportunities [3]. Group 3: Strategic Outlook - Hou Wentao provides insights into the A-share market, identifying external tariffs and internal policies as key variables affecting market performance, and suggests that there are many tools available to support the market [4]. - The forum collectively aims to contribute to the high-quality development of China's financial market, encouraging investors to learn and adapt their strategies accordingly [4].

此乃要件 請即處理 閣下如對本通函或應採取之行動有任何疑問，應諮詢 閣下之股票經紀或其他持牌證券交易商、銀行經理、律 師、專業會計師或其他專業顧問。 閣下如已售出或轉讓名下所有九方智投控股有限公司的股份，應立即將本通函及隨附的代表委任表格送交買主 或承讓人，或送交經手買賣或轉讓的銀行、股票經紀或其他代理商，以便轉交買主或承讓人。 香港交易及結算所有限公司及香港聯合交易所有限公司對本通函之內容概不負責，對其準確性或完整性亦不發 表任何聲明，並明確表示，概不對因本通函全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承 擔任何責任。 JF SmartInvest Holdings Ltd 九方智投控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：9636） i. 建議宣派末期股息； ii. 建議重選退任董事； iii. 建議授出發行股份及購回股份的一般授權； iv. 建議續聘核數師； v. 關連及須予披露的交易－建議收購YINTECH FINANCIAL； vi. 股東週年大會通告 獨立董事委員會及獨立股東的獨立財務顧問 九方智投控股有限公司謹訂於2025年6月20日（星期五）上午十時正假座中國上 ...