EF001 EF001 發行人所發行上市權證/可轉換債券的相關信息 發行人所發行上市權證/可轉換債券 不適用 其他信息 其他信息 不適用 發行人董事 截至本公告日期，執行董事為陳文彬先生、陳冀庚先生和張培紅先生，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。 免責聲明 | 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的內容概不負責，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 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的任何損失承擔任何責任。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 九方智投控股有限公司 | | 股份代號 | 09636 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至2024年12月31日止年度之末期股息(更新) | | 公告日期 | 2025年5月20日 | | 公告狀態 | 更新公告 | | 更新/撤回理由 更新 (1) 股東批准日期及(2) 香港過戶登記處相關信息 | | | 股息 ...

茲提述九方智投控股有限公司（「本公司」）日期為2025年3月27日的截至2024年12 月31日止年度之年度業績公告（「業績公告」）。除另有指明外，本公告所使用詞彙 與業績公告所界定者具有相同涵義。 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） 暫停辦理股份過戶登記 本公司將於上述期間內暫停辦理股份過戶登記手續。為確定股東出席股東週年大 會並於大會上投票的權利及獲派發末期股息的資格，所有填妥的過戶表格連同有 關股票須分別不遲於2025年6月16日（星期一）及2025年6月25日（星期三）下午4 時30分送交至本公司的股份過戶登記處香港中央證券登記有限公司（地址為香港 灣仔皇后大道東183號合和中心17樓1712-1716號舖），以辦理股份過戶登記手續。 董事會已在業績公告中宣佈，建議就截至2024年12月31日止年 ...

Investment Rating - The investment rating for the computer industry is "Buy" [2] Core Insights - The computer industry is experiencing a bottoming out of demand in 2024, with significant differences in structural performance across various segments. Companies are enhancing operational efficiency to cope with the challenges [6][14] - The median revenue growth rate for the industry in 2024 is -1.59%, a decrease of 4.88 percentage points from 2023. The median net profit growth rate is -2.24%, down 8.35 percentage points from the previous year [15] - The report highlights that while revenue and profit metrics are declining, the rate of decline is slowing, indicating potential for improvement in Q1 2025 [15][16] Summary by Sections 1. 2024 Annual Report: Bottoming Demand and Efficiency Improvements - The report analyzes the performance of 208 listed companies in the computer industry, revealing that the overall revenue growth is stabilizing, and profit margins are showing signs of recovery [14][15] - Different segments within the industry show varying performance, with IT hardware, trusted computing, and smart vehicle sectors demonstrating positive growth trends [16][28] 2. Demand Stabilization and Financial Indicators - The report notes that contract liabilities are beginning to improve, and accounts receivable growth is declining, indicating a more stable financial environment [23][24] - Cash inflows from sales of goods and services have significantly increased, reflecting a positive trend in operational cash flow [24] 3. Investment Activity and Valuation Levels - The report indicates an increase in net cash outflow from investment activities, suggesting an expansion trend among companies [26] - As of April 30, 2025, the industry’s price-to-earnings (P/E) ratio is 46 times, with software companies showing a higher P/E increase compared to hardware companies [19][20] 4. Key Areas of Investment Value - The report identifies several key areas with strong investment potential, including AI applications, domestic software and hardware replacements, and the smart driving industry [20][21] - The acceleration of domestic orders in trusted computing and the expansion of the Harmony OS ecosystem are expected to enhance the competitive edge of leading companies in the industry [20][21]

Company Developments - The company was officially listed on the Hong Kong Stock Exchange under the stock code 9636 on 2023[10]. - The launch of the first digital human, "Jiu Ge," was announced during the 2023 JF Robo-Advisor Press Conference[10]. - The company signed a cooperation agreement with iFLYTEK to establish an artificial intelligence laboratory[10]. - The company underwent a strategic upgrade, officially changing its name to "JF SmartInvest Holdings Ltd"[10]. - The company received dual certifications of ISO/IEC 27001 and ISO/IEC 27701, enhancing its compliance and data security standards[10]. - The company was included in the "2024 My Favorite Chinese Brands" list at the China Brand Day, reflecting its growing brand recognition[10]. Financial Performance - Revenue for the year ended December 31, 2023, reached RMB 1,965,387,000, representing a 6.2% increase from RMB 1,850,141,000 in 2022[20]. - Gross profit for 2023 was RMB 1,643,264,000, slightly up from RMB 1,614,865,000 in 2022, indicating a stable gross margin[20]. - Profit attributable to equity shareholders for 2023 was RMB 190,719,000, a decrease of 58.6% compared to RMB 460,554,000 in 2022[20]. - Total assets as of December 31, 2023, amounted to RMB 2,458,606,000, a significant increase from RMB 1,363,164,000 in 2022[21]. - Total liabilities for 2023 were RMB 943,809,000, compared to RMB 833,741,000 in 2022, reflecting a 13.2% increase[21]. - The company achieved a revenue of approximately RMB 2,306.0 million, representing a growth of approximately 17.3% year-on-year[59]. - Profit attributable to shareholders amounted to approximately RMB 272.4 million, reflecting an increase of 42.8% compared to the previous period[59]. - Operating cash flow showed a strong net inflow of approximately RMB 1,627.8 million, indicating a significant year-on-year growth of 266.6%[59]. Product Innovations - The newly launched stock quote software, SmartInvest App, aims to enhance user experience and investment efficiency[10]. - The industry’s first stock learning machine product, "Enjoy-Stock Pad," was introduced, marking a significant innovation[10]. - The company has developed a multi-dimensional product structure to diversify revenue, including the launch of the Stock Learning Machine for investor education[26]. - The company launched several AI-driven products, including the "FinSphere Agent" and "FinSphere Report," to improve investment advisory services[34]. - The company launched the first-ever stock learning machine, "Enjoy-Stock Pad (Starter Edition)", in July, providing nine major content areas through six core modules, aiming to enhance investor education and fulfill corporate social responsibilities[66]. - Nearly 30 lightweight products were launched in the small-amount series, achieving over 2.203 million uses by subscriber customers during the reporting period, enhancing customer satisfaction through comprehensive functionalities[66]. Research and Development - The company maintains high R&D investment throughout the year, focusing on AI empowerment and the development of intelligent investment advisory products, including "Jiu Fang Lingxi" and "Jiu Fang Zhi Yan"[36]. - R&D investment reached approximately RMB 319 million, a 10.9% increase year-over-year, accounting for about 13.8% of the company's total revenue, with 136 software copyrights and patents as of the reporting period end[71]. - The company established a professional AI R&D team, presenting research papers at major AI conferences, and developed AI technology bases and applications for investment advisory services[72]. Market Strategy - The company has achieved industry leadership in innovative practices and scenario applications through its "technology + investment research" dual-driver strategy[4]. - The "investment research + technology" dual-driver strategy has been implemented to enhance operational capabilities and product strengths[28]. - The company aims to strengthen its "1+N" investment research system to ensure real-time responsiveness to market changes and customer needs[29]. - The company is focusing on expanding its presence on emerging platforms to enhance its fan base and improve traffic operations[35]. - The company is committed to deepening AI applications across product services, business operations, and management, with a focus on innovation-driven development[40]. Corporate Governance and Compliance - The company emphasizes the integration of ESG concepts into corporate governance and business operations to drive sustainable development[46]. - The company has established an Audit Committee consisting of independent non-executive directors to oversee financial reporting and compliance[174]. - The company emphasizes compliance in its IP operations, ensuring all IPs are qualified securities practitioners and undergo compliance audits[81]. Employee and Management - The employee count as of December 31, 2024, totaled 2,468, with the largest function being Sales and Marketing at 31.5%[157]. - Mr. Chen Jigeng was appointed as the executive president in December 2023, having over 10 years of experience in the financial services industry[184]. - Mr. Zhang Peihong joined the Group in June 2020 and has over 10 years of experience in business development and customer service[188]. Future Plans and Investments - The company plans to enhance content production capabilities with an allocation of approximately HKD 196.8 million, with a revised expected timeline for full utilization by December 31, 2027[164]. - The company plans to enhance its product offerings through a three-dimensional product structure to promote business diversification[95]. - The company aims to explore cooperation opportunities with securities brokers to create a closed loop of services that meet diverse customer needs[44].

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company plans to acquire 100% equity of Yintech Financial for approximately HKD 108.8 million and purchase its core information system for HKD 18.16 million, marking its entry into overseas finance [1] - The acquisition aims to enhance the company's comprehensive financial service capabilities and expand its overseas financial footprint, particularly in key markets like Hong Kong and the United States [7] - The expected financial performance post-acquisition includes a significant increase in net profit, with projections of CNY 1.293 billion, CNY 1.701 billion, and CNY 2.245 billion for 2025, 2026, and 2027 respectively, reflecting year-on-year growth rates of 375%, 32%, and 32% [7] Financial Projections - Total revenue is projected to grow from CNY 1.965 billion in 2023 to CNY 4.692 billion by 2027, with a compound annual growth rate (CAGR) of approximately 13.36% [1] - The company's net profit is expected to rebound significantly, with a forecasted increase from CNY 191 million in 2023 to CNY 2.245 billion in 2027 [1] - The earnings per share (EPS) is projected to rise from CNY 0.46 in 2023 to CNY 5.44 by 2027, indicating strong profitability growth [1] Acquisition Rationale - The acquisition of Yintech Financial and its core information system is intended to ensure business continuity, reduce technology dependency risks, and avoid redundant development costs [7] - The phased payment structure for the acquisition is designed to alleviate short-term cash flow pressures, with payments distributed over four stages [7] - The integration of Yintech's licensed operations is expected to strengthen the company's capabilities in cross-border financial services, enhancing its competitive position in the market [7]

Investment Rating - The investment rating for the company is "Buy" based on its performance relative to the benchmark index [9] Core Viewpoints - The company reported total revenue of 2.306 billion RMB for the fiscal year 2024, representing a year-on-year increase of 17.3% [1] - The total order amount for the fiscal year 2024 reached approximately 3.506 billion RMB, a significant increase of about 49.3% compared to the previous year [1] - The company has introduced AI-enabled investment advisory tools, enhancing its operational capabilities and customer service [1] - Research and development investment amounted to approximately 319 million RMB, accounting for about 13.8% of total revenue, reflecting a 10.9% increase year-on-year [1] - The company has expanded its presence on various social media platforms, achieving over 4.98 million hours of live streaming and attracting approximately 50.05 million followers [1] Financial Summary - The projected earnings per share (EPS) for 2025, 2026, and 2027 are estimated to be 1.70 RMB, 1.77 RMB, and 1.95 RMB respectively [2][3] - The expected revenue for 2025 is projected to be 3.429 billion RMB, with a growth rate of 49% compared to 2024 [3] - The net profit for 2025 is forecasted to be 764 million RMB, reflecting a substantial increase of 181% from 2024 [3] - The company’s operating income is expected to grow steadily, with a projected revenue of 4.460 billion RMB by 2027 [3]

Investment Rating - The report assigns a "Buy" rating for the company, indicating that the stock price is expected to outperform the benchmark by more than 15% [9]. Core Insights - The company achieved total revenue of RMB 2.306 billion in 2024, representing a year-on-year increase of 17.3%, and a net profit attributable to shareholders of RMB 272 million [1]. - Total order value for 2024 reached approximately RMB 3.506 billion, a significant increase of about 49.3% compared to the previous year, with a paid user base growing to 181,000, up approximately 149.4% [1]. - The company has enhanced its research and operational capabilities, leveraging AI technologies to improve investment advisory services and operational efficiency [1]. - R&D investment amounted to approximately RMB 319 million, a 10.9% increase year-on-year, accounting for about 13.8% of total revenue [1]. - The company has expanded its presence on various social media platforms, achieving over 49,800 hours of live streaming and attracting approximately 50.05 million followers [1]. Financial Summary - The company forecasts revenues of RMB 3.429 billion, RMB 3.960 billion, and RMB 4.460 billion for 2025, 2026, and 2027, respectively, with expected growth rates of 49%, 16%, and 13% [3]. - Net profit is projected to reach RMB 764 million in 2025, RMB 792 million in 2026, and RMB 874 million in 2027, reflecting growth rates of 181%, 4%, and 10% [3]. - Earnings per share (EPS) are expected to be RMB 1.70, RMB 1.77, and RMB 1.95 for 2025, 2026, and 2027, respectively [3].

Group 1 - The company, Jiufang Zhitu Holdings, has entered into a conditional agreement to acquire 100% equity of Yintech Financial and its core information system for approximately HKD 108.8 million and HKD 18.16 million respectively [1][2] - The target group operates in regulated activities defined under the Securities and Futures Ordinance, focusing on securities and futures brokerage, investment consulting, asset management, discretionary account management, and wealth management services [1] - This acquisition marks the company's first step into overseas financial markets, leveraging the target group's resources and experience to enhance its competitive edge and influence in key markets such as the Hong Kong Stock Exchange and the US Securities Exchange [1] Group 2 - As of Q1 2025, the target group has reported profitability, with expected monthly trading volume increasing by over 80% compared to 2024, fund distribution scale expected to rise by over 20%, and assets under management for discretionary services projected to grow by over 100% [2] - The acquisition is anticipated to provide long-term benefits by diversifying revenue sources, optimizing income structure, and reducing risks associated with market concentration, thereby enhancing the company's adaptability in a volatile financial environment [2] - The core information system being acquired is specifically designed for the target group, supporting centralized trading management, clearing and settlement, and risk management across various business scenarios, ensuring stable business operations and minimizing transition risks [2]

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） 由於收購事項的最高適用百分比率超過5%但低於25%，故根據上市規則第14 章，收購事項構成本公司的須予披露交易，因此須遵守申報及公告的規定。 此外，於本公告日期， (i) 銀科控股由陳文彬先生、嚴明先生及 C H E N NINGFENG女士（均為本公司董事及控股股東）最終分別持有36.14%、23.72% 及21.10%；及(ii)上海斐琇為銀科控股的間接附屬公司。因此，根據上市規則第 14A章，銀科控股及上海斐琇均為本公司的關連人士，而買賣協議項下擬進行 的交易構成關連交易。因此，由於收購事項的最高適用百分比率超過5%，故根 據上市規則第14A章，收購事項及買賣協議項下擬進行的交易須遵守申報、公 告、通函及獨立股東批准規定。 1 成立獨立董事委員會及委任獨立財務顧問 ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company achieved a total revenue of 2.3 billion yuan in 2024, representing a year-on-year increase of 17% [1] - Total order amount reached a historical high of 3.5 billion yuan, up 49% year-on-year [1] - Net profit attributable to shareholders increased by 43% to 270 million yuan [1] - The company is expected to continue its growth trajectory with significant increases in net profit projected for 2025-2027 [7] Financial Performance Summary - **Revenue Forecasts**: - 2023A: 1,965 million yuan - 2024A: 2,306 million yuan - 2025E: 3,579 million yuan - 2026E: 4,139 million yuan - 2027E: 4,692 million yuan - Year-on-year growth rates: 6.23% (2023A to 2024A), 17.33% (2024A to 2025E), 55.22% (2025E to 2026E), 15.64% (2026E to 2027E) [1][24] - **Net Profit Forecasts**: - 2023A: 191 million yuan - 2024A: 272 million yuan - 2025E: 1,293 million yuan - 2026E: 1,701 million yuan - 2027E: 2,245 million yuan - Year-on-year growth rates: -58.59% (2023A to 2024A), 42.81% (2024A to 2025E), 374.64% (2025E to 2026E), 31.55% (2026E to 2027E) [1][24] - **Earnings Per Share (EPS)**: - 2023A: 0.46 HKD - 2024A: 0.66 HKD - 2025E: 3.13 HKD - 2026E: 4.12 HKD - 2027E: 5.44 HKD [1][24] - **Price-to-Earnings (P/E) Ratios**: - 2023A: 86.94 - 2024A: 60.88 - 2025E: 12.83 - 2026E: 9.75 - 2027E: 7.39 [1][24] Market Dynamics - The company benefited from a vibrant market environment, with A-share daily trading volume increasing by 21% year-on-year in 2024 [7] - The number of paying customers surged by 149% to 180,000, indicating strong demand for the company's services [7] - The company is focusing on enhancing its product matrix and leveraging AI capabilities to maintain its competitive edge in the online investment education market [7]