源达信息吴起涤：2026年个人投资者量化投资规模有望超万亿，带来量化服务费用市场空间154亿元（附演讲PPT）

Group 1 - The 2025 Analyst Conference highlighted the potential for a bull market in A-shares, attracting global capital inflows [1] - The speaker, Wu Qidi, emphasized the transformation of sell-side research, indicating that only the top 20 brokerage firms can earn substantial commission income, making it difficult for smaller firms to break through [3][17] - The direction of transformation includes shifting from a single institutional service model to a diversified approach that combines external services for institutions, internal wealth management, and industry research [3][17] Group 2 - The number of individual investors in the A-share market has surpassed 240 million as of June 2025, with a steady increase in their scale [3][26] - Despite the growth, the penetration rate of quantitative investment among individual investors remains low, with institutional investors still dominating the space [3] - The scale of public quantitative funds reached 312.1 billion yuan, a 5.8% increase from the end of 2024, while private quantitative funds totaled approximately 1.49 trillion yuan, growing by 6.0% [3] Group 3 - By 2026, the scale of individual quantitative investment is expected to exceed one trillion yuan, creating a market space of 15.4 billion yuan for quantitative services [4][26] - The annualized return of a selected stock pool from 50 brokerages was 7.28% from January 2018 to June 2025, with a maximum drawdown of 46.18% [19] - The research indicates that the lack of a buy-side mindset and herd mentality are reasons for the lower-than-expected returns from the selected stocks [19] Group 4 - The company aims to leverage AI and financial engineering to enhance investment strategies, with specific quantitative strategies showing annualized returns of 22.0% and 16.0% [20] - AI is transforming traditional securities research by automating data collection and analysis, significantly improving efficiency compared to manual methods [23][24] - The research emphasizes the importance of multi-dimensional data applications to better understand future market trends [24]