Investment Rating - The report maintains a rating of "Accumulate" for the company [4] Core Viewpoints - The company is expected to see revenue growth driven by AI and digital finance, with projected revenue increasing from 1,965.39 million RMB in 2023 to 4,723.75 million RMB by 2027, reflecting a compound annual growth rate (CAGR) of approximately 9.71% [11] - The net profit attributable to the parent company is forecasted to rise significantly from 190.72 million RMB in 2023 to 1,568.04 million RMB in 2027, indicating a substantial recovery and growth trajectory [11] - The company is focusing on building a comprehensive product system to enhance user engagement and diversify revenue streams, with nearly 50 lightweight products launched to cater to diverse customer needs [2][3] Financial Performance Summary - Revenue for 2023 is reported at 1,965.39 million RMB, with a year-on-year growth rate of 6.23%, expected to increase to 2,305.99 million RMB in 2024, representing a growth rate of 17.33% [11] - The net profit for 2023 is 190.72 million RMB, with a significant decline of 58.59% year-on-year, but is projected to rebound to 1,215.91 million RMB by 2025, reflecting a growth rate of 346.43% [11] - The company's return on equity (ROE) is expected to rise from 12.59% in 2023 to 44.30% by 2027, indicating improved profitability and efficiency [11] Product and Technology Development - The company is advancing its AI capabilities and digital transformation, aiming to enhance its service offerings in the securities sector through AI integration in research, education, compliance, and customer service [2][3] - The establishment of a dedicated technology subsidiary, Jiufang Zhiying, is part of the strategy to develop a native service technology system in the AI field [2] Market Position and Strategy - The company is committed to a buy-side advisory model, with a strong emphasis on research capabilities and a well-structured team of experts to support its investment strategies [3] - The report highlights the company's efforts to enhance its online presence and user engagement, with a significant increase in social media followers and account operations [3] Future Outlook - The company is expected to benefit from ongoing reforms in the capital market, which are anticipated to bolster market confidence and support its growth strategy [9] - The report suggests that the company is well-positioned to leverage advancements in AI and digital finance to diversify its revenue streams and enhance customer retention [9]

Group 1 - The A-share market is undergoing profound restructuring, with the full implementation of the registration system and accelerated institutionalization, presenting unprecedented cognitive challenges for individual investors [1] - Jiufang Zhituo is positioned as a "new generation stock investment assistant," leveraging a "technology + research" dual-driven strategy to continuously build an intelligent service ecosystem for investors [1] Group 2 - In the financial technology sector, Jiufang Zhituo has demonstrated exceptional foresight, with its AI center's research paper accepted at the International Conference on Computational Linguistics (COLING), ranking in the top 5% of submissions, indicating authoritative recognition of its AI technology in the securities vertical [3] - The company has excelled in investor education and protection, winning first prize in the "Shanghai Securities Dispute Mediation Knowledge Competition," showcasing its expertise in dispute resolution and investor rights protection [3] Group 3 - In 2024, Jiufang Zhituo achieved significant recognition in financial technology and professional services, winning the "Annual Outstanding Financial Technology Company" award at the 2024 China Financial Development Forum, affirming its innovative capabilities [5] - The company also received the "Ninth Financial Golden Orange Award for Professional Service Financial Institutions," further validating its professional service capabilities within the industry [5] Group 4 - Jiufang Zhituo is facilitating the transition of the investment advisory industry from "information intermediaries" to "value co-creators" through continuous technological innovation and solid research accumulation, thereby building a bridge to rational investment for investors [7] - The intelligent investment education ecosystem established by the company actively responds to the policy call for "enhancing national financial literacy" and provides replicable technical solutions for the high-quality development of the investment advisory industry [7]