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].
九方财富(09636) - 2024 - 年度财报