GF SECURITIES(SZ:000776) Zhong Guo Ji Jin Bao·2025-09-19 14:03Core Viewpoint - The transformation towards digital intelligence is essential for securities companies to achieve high-quality development, supported by financial technology as a key driver [1][3]. Group 1: Industry Development and Regulatory Environment - The high-quality development of the securities industry is a dual requirement from national strategy and market competition [2]. - The "New National Guidelines" issued by the State Council in 2024 emphasizes strong regulation, risk prevention, and promoting high-quality development, which significantly impacts the direction and requirements for securities companies [2]. - The upgrade of the regulatory framework in April 2023, including the guidelines for consolidated management, aims to enhance the management structure and model of securities companies [2]. Group 2: Market Dynamics and Challenges - The current market environment is characterized by intense competition and deep uncertainty, necessitating a transformation in the operational models of securities companies [2]. - The shift from a seller's market to a buyer's market, along with rapid technological advancements and evolving customer demands, requires securities firms to adapt their business strategies [2]. Group 3: Internationalization and Technological Integration - Internationalization is a critical aspect of high-quality development for securities companies, with financial technology playing a significant role in this process [3]. - The year 2025 is anticipated to be a breakthrough year for the application of AI in the industry, with major securities firms promoting related applications [3]. Group 4: Business Areas for High-Quality Development - High-quality development in securities firms should focus on multiple business areas, including wealth management, institutional trading, and investment banking, while also addressing international operations and systemic risk prevention [4]. Group 5: Case Studies from Guangfa Securities - Guangfa Securities has implemented innovative assessment mechanisms in wealth management, linking client assets under management (AUM) to advisor performance [5]. - The "Yitaojin" app has undergone a comprehensive AI upgrade, enhancing customer service and promoting inclusive finance [6]. - AI capabilities have been integrated into investment banking operations to prevent fraud and support quality listings [6]. - The "Dongmi Bao" platform utilizes compliance algorithms to regulate trading behaviors of specific shareholders in listed companies [6]. - The "Guangfa Zhihui" platform offers comprehensive services for institutional clients, supporting various business needs and risk prevention [6]. Group 6: Overall Impact of Financial Technology - Financial technology serves as both a support and driving force for securities companies in their digital transformation, enhancing management quality and providing value to investors [6].