Group 1 - The Hang Seng Index opened up by 0.36% and the Hang Seng Tech Index opened up by 0.16% [1] - Zijin Mining opened up by 4.31% as the company plans to acquire 100% equity of Junhe Gold for 28 billion yuan [1] - Jiufang Zhitu Holdings opened up by 14.97% after a significant drop of over 25% the previous day [1]

Core Viewpoint - The stock price of the well-known domestic investment advisory platform Jiufang Zhituo plummeted over 30% within the first hour of trading, resulting in a market value loss of nearly 10 billion yuan, triggered by rumors of a regulatory "surprise inspection" [1][2]. Group 1: Regulatory Inspection - The China Securities Regulatory Commission (CSRC) initiated "surprise on-site inspections" targeting several licensed advisory institutions, including Jiufang Zhituo, focusing on two sensitive areas: the blurred line between algorithmic recommendations and "gray area" marketing, and systemic issues in user suitability management [2][9]. - Internal sources revealed that some high-yield strategy combinations may involve hidden commission sharing with specific brokerages, raising concerns about the legitimacy of their recommendations [2][10]. Group 2: Business Model Reevaluation - Jiufang Zhituo's business model, which combines "internet traffic and advisory services," is facing a fundamental reevaluation as regulatory scrutiny tightens on marketing practices. The average annual growth rate of marketing expenses has been 45% over the past three years, while the growth rate of paying users has dropped from 68% in 2021 to 23% last year, indicating a decline in traffic benefits [3][11]. - The platform's reliance on AI-driven and quantitative models is now under scrutiny regarding algorithm transparency, with concerns that the "black box" nature of their operations could erode investor trust, especially in volatile markets [3][11]. Group 3: Industry Impact - The market anticipates that the regulatory storm will accelerate industry reshuffling, with platforms lacking solid research capabilities facing valuation changes and increased compliance costs, potentially leading to forced transformations or acquisitions [4][12]. - Traditional brokerages with comprehensive research systems and compliance experience may seize the opportunity to expand their market share in the advisory sector [4][12]. Group 4: Investor Guidance - The incident serves as a warning for investors to be cautious of "high-yield promises," as any advisory service guaranteeing profits or excessive returns should be viewed skeptically [4][12]. - Investors are advised to prioritize compliance qualifications when selecting advisory platforms, considering not only their licenses but also their historical compliance records [4][12]. - A long-term industry transition from "traffic-driven" to "compliance-driven" and "content-driven" is expected, emphasizing the importance of helping investors establish long-term asset allocation discipline [5][13].

九方智投控股(09636)发布公告，本公司董事会谨此宣布，其已批准该计划(股份回购计划)并拟行使本公 司股东于本公司于2025年6月20日举行的股东周年大会上向董事会授出的一般授权(回购授权)项下的权 力，以回购本公司股份，据此股东批准在市场上购买不超过于股东周年大会当日的已发行股份(不包括 库存股份)总数10%的股份的回购授权。现有回购授权届满后回购的任何股份将待股东于本公司股东周 年大会上就回购股份授予董事会一般授权后，方可作实。 ...

智通财经APP讯，九方智投控股(09636)发布公告，本公司董事会谨此宣布，其已批准该计划(股份回购 计划)并拟行使本公司股东于本公司于2025年6月20日举行的股东周年大会上向董事会授出的一般授权 (回购授权)项下的权力，以回购本公司股份，据此股东批准在市场上购买不超过于股东周年大会当日的 已发行股份(不包括库存股份)总数10%的股份的回购授权。现有回购授权届满后回购的任何股份将待股 东于本公司股东周年大会上就回购股份授予董事会一般授权后，方可作实。 ...

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） 自願性公告 在市場上進行股份回購計劃 本公告乃由九方智投控股有限公司（「本公司」）自願作出。 在市場上進行股份回購計劃 本公司董事會（「董事會」）謹此宣佈，其已批准該計劃（「股份回購計劃」）並擬行 使本公司股東（「股東」）於本公司於2025年6月20日舉行之股東週年大會（「股東週 年大會」）上向董事會授出之一般授權（「回購授權」）項下的權力，以回購本公司股 份（「股份」），據此股東批准在市場上購買不超過於股東週年大會當日的已發行股 份（不包括庫存股份）總數10%的股份的回購授權。現有回購授權屆滿後回購的任 何股份將待股東於本公司股東週年大會上就回購股份授予董事會一般授權後，方 可作實。 股份回購計劃之詳情如下： 董事會相信在市場上買賣的股份價值被低估。董事會亦相信本公司 ...

(责任编辑：徐自立) 中国经济网北京1月26日讯 九方智投控股(09636.HK)今日股价收报42.08港元，跌幅25.915%。港 股市值今日减少68.95亿港元。 ...

Core Viewpoint - The stock price of a well-known investment advisory company, Jiufang, plummeted by 35% in a single day, later narrowing to a 25% drop, resulting in a market value loss of 6.8 billion HKD [1][16]. Group 1: Stock Performance - Jiufang's stock experienced a significant decline, with a single-day market value evaporation of 6.8 billion HKD [1]. - The stock's drop was attributed to speculation and uncertainty among investors, with many questioning the reasons behind the decline [3][16]. - There were concerns about potential delisting and rumors of poor performance affecting investor sentiment [3][16]. Group 2: Financial Performance - Jiufang reported a total order amount of approximately 931 million RMB for the first half of 2024, a decrease of about 26.17% year-on-year [18]. - The company achieved a revenue of 898 million RMB, reflecting a year-on-year growth of 4.36%, but also reported a net loss of 174 million RMB, a decline of 361.2% compared to the previous year [18][19]. - In contrast, Jiufang turned profitable in the first half of 2025, earning 865 million RMB, indicating a significant recovery driven by a bull market [19][20]. Group 3: Market Dynamics - The rise of social media platforms like Douyin has transformed stock trading into a more live-streamed and interactive experience, with investment advisors gaining more visibility and influence [5][17]. - Jiufang's marketing strategy includes leveraging popular figures and social media to attract users, with significant increases in paid user subscriptions noted [18]. - The company has introduced a flagship product that integrates hardware, AI, and investment research, aiming to provide comprehensive services to investors [23].

MACD金叉信号形成，这些股涨势不错！ 新浪声明：此消息系转载自新浪合作媒体，新浪网登载此文出于传递更多信息之目的，并不意味着赞同 其观点或证实其描述。文章内容仅供参考，不构成投资建议。投资者据此操作，风险自担。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 1月26日，九方智投控股午后跳水，一度跌超35%，截至发稿，跌幅有所收窄，最新股价报41.86港元/ 股，跌26.3%，成交额11.47亿港元。 九方智投控股是2C金融信息服务行业龙头。2026年1月初，九方智投控股发布公告宣布已完成对 JFFinancial（原名Yintech Financial）全部股权及核心业务系统的收购。收购完成后，九方智投控股将持 有JFFinancial及旗下核心附属公司方德证券、方德资本的全部股权。 1月23日，九方智投控股发布公告，公司根据2025年股份激励计划的条款向若干雇员授予合共658.3万份 受限制股份单位，但须经承授人接纳后方作实。 九方智投控股曾是港股市场的大牛股，2024年9月至2025年8月，股价从最低4.82港元/股飙升至最高 83.54港元/股，累计涨幅达十余倍。 MACD ...

| | | 买7 41.680 | 0 (0) | | --- | --- | --- | --- | | | | 买8 41.660 | 0 (0) | | | | 29 41.640 | 0 (0) | | MACD | DIF:0.304 DEA:0.069 M:0.471 | | | | 1.303 | | 分时成交 | | | | | 14:14 41.900 | 5300 | | | | 14:14 41.800V | 100 | | | | 14:14 41.900↑ | 1000 | | -1.890 | | 14:14 41.900 | 200 | | 9:30 | | 16:00 14:14 41.860V | 2200 | 九方智投控股是2C金融信息服务行业龙头。2026年1月初，九方智投控股发布公告宣布已完成对JFFinancial(原名Yintech Financial)全部股权及核心业务系 统的收购。收购完成后，九方智投控股将持有JFFinancial及旗下核心附属公司方德证券、方德资本的全部股权。 | < > 九方智投控股 09636 港股通 ▼ ▼ | | | --- | -- ...

Core Viewpoint - Jiufang Intelligent Investment Holdings (09636) experienced a significant drop in stock price, falling over 27% to a low of 41.02 HKD, with a current price of 41.6 HKD and a trading volume exceeding 700 million HKD [2][6]. Group 1: Stock Performance - The stock price of Jiufang Intelligent Investment Holdings fell to a low of 41.02 HKD, representing a decline of 26.76% from the previous closing price of 56.8 HKD [7]. - The stock's highest price in the past 52 weeks was 83.54 HKD, while the lowest was 20.41 HKD [7]. - The trading volume reached 15.42 million shares, with a total transaction value of approximately 739 million HKD [7]. Group 2: Company Announcements - On January 23, 2026, Jiufang Intelligent Investment Holdings announced the granting of a total of 6.583 million restricted stock units to several employees under the 2025 share incentive plan, pending acceptance by the recipients [4][7].