当下，科技创新被提升至前所未有的战略高度。人工智能作为核心引擎，正深度重塑中国金融行业格 局。 统筹：李颖 执行统筹：卢亮 特刊采写：南都·湾财社记者 卢亮 罗曼瑜 吴鸿森 南都·湾财社研究员 袁泽睿 历经11年沉淀，湾区金融年会已成为连接政、金、产、学、研、媒的高端对话平台。本届年会也特设致 敬环节，颁发了"人工智能创新实践""数字金融创新"等多个奖项，与金融"五篇大文章"深度呼应，以此 表彰在金融领域的先行者和标杆机构，记录并唱响金融支持高质量发展的"湾区故事"。 策划：王莹 11月19日，2025（第十一届）湾区金融年会在深圳盛大启幕。本届金融年会由南方都市报社、湾财社， 深圳市财富管理协会联合主办。作为2025深圳国际金融大会平行会议，年会同步联动第十九届深圳国际 金融博览会（金博会），以"AI新浪潮 金融新生态"为核心主题，汇聚顶尖专家学者与行业领袖，共 探"AI+金融"融合趋势，献智金融高质量发展的"湾区方案"。 中国人民大学原副校长、国家一级教授吴晓求，中国国际贸易促进委员会深圳市委员会主任廖子彬，深 圳市政协常委房涛，香港中文大学(深圳)经管学院执行院长、深圳数据经济研究院副院长张博辉，平安 ...

Core Viewpoint - The A-share market showed a rebound with all major indices closing in the green, driven by significant inflows into the defense and military sector, as well as the resurgence of AI applications in financial technology [1][2] Group 1: Defense and Military Sector - The defense and military sector emerged as a leading performer, with over 133 billion yuan in net inflows, marking it as the top sector for institutional investment [2][5] - The defense military ETF (512810) saw a substantial increase of 3.78%, achieving its largest single-day gain since July, with 77 out of 79 covered stocks closing in the green [3][6] - Geopolitical factors are fueling the demand for defense spending, with expectations for increased investment in national defense and military capabilities [5][6] Group 2: AI and Financial Technology - The financial technology sector rebounded, with the largest financial technology ETF (159851) rising by 2%, indicating a recovery in market confidence [13][15] - Alibaba's AI assistant, Qianwen, achieved over 10 million downloads in just one week, highlighting the rapid growth of AI applications [15][10] - Analysts believe that the financial sector is an ideal testing ground for AI applications, with significant potential for transforming business processes and enhancing profitability [15][16] Group 3: Hong Kong Market Dynamics - The Hong Kong innovation drug sector also experienced a rebound, with leading companies like 3SBio and Heng Rui Medicine showing strong performance [2] - The Hong Kong internet ETF (513770) saw a price increase of over 2%, reflecting strong buying interest and a favorable valuation compared to A-shares [9][10] - The valuation of the Hong Kong internet sector is at a historical low, making it an attractive investment opportunity as it includes key players in AI and technology [9][10]

消息面上，阿里旗下的AI助手千问App公测一周，下载量已突破1000万次，超越ChatGPT、Sora、 DeepSeek成为史上增长最快的AI应用。此外，近日谷歌发布多模态AI模型、第二代Nano Banana （Gemini 3.0 Pro Image）正式更新，其超预期的输出表现也令市场对AI应用的关注度进一步强化。 国泰海通证券认为，金融是AI应用落地的绝佳"试验田"，AI+金融拐点已至！金融行业作为典型的数 据、信息、决策密集型产业，其数智化转型需求与大模型技术特性高度契合。目前，AI应用已在各类 金融机构的核心业务领域以及中后台场景中加速渗透，未来AI有望重构金融业务流程和组织架构，为 金融数智化打开新纪元。 周一（11月24日），AI应用点燃金融科技板块，中证金融科技主题指数止跌反弹，成份股普遍收红， 累计51股涨幅超1%！热门个股方面，恒银科技涨停，拓尔思、恒生电子、中科金财等多股涨超4%，大 智慧、指南针、同花顺等互联网券商均涨超1%。 热门ETF方面，同类规模最大的金融科技ETF（159851）早盘一度再探调整新低，午后反弹走高，场内 价格收涨2%，单日成交3.67亿元。技术面上，年线失而 ...

Core Insights - The article discusses the evolution of stock trading tools from simple trading channels to comprehensive platforms that integrate intelligent investment research, risk management, and asset allocation, driven by the "AI + Finance" trend [1] - The focus is on the development of the "AI Zhangle" application by Huatai Securities, which serves as a benchmark for AI transformation in the securities industry, offering a full-link solution for intelligent decision-making, efficient trading, dynamic risk control, and user-friendly interaction [1][2] Group 1: AI Zhangle - AI Zhangle scores 9.8, leveraging Huatai Securities' self-developed financial model and research framework to create a comprehensive service loop that caters to both experienced investors and beginners [2] - The application features a dual-driven design of LUI (Language User Interface) and GUI (Graphical User Interface), transitioning from "users finding functions" to "AI delivering services" [2] - Key performance dimensions include intelligent decision support, trading execution and cost control, risk control systems, and interaction and adaptability [1][3][4][5][6] Group 2: Performance Dimensions - Intelligent Decision Support: AI Zhangle utilizes a dynamic tracking engine to scan market news and events, providing real-time valuation frameworks and stock selection tools with a 62% probability of next-day price limits [3] - Trading Execution and Cost Control: The platform offers millisecond-level market response, 24/7 order placement, and various algorithmic trading options to minimize transaction costs [4] - Risk Control System: AI-driven portfolio diagnostics analyze users' holdings for industry distribution and financial risks, providing timely alerts for significant market events [5] - Interaction and Adaptability: The application features a user-friendly interface with personalized digital avatars and gamified learning content to enhance user experience [6][7] Group 3: Other Trading Tools - Junhong scores 9.6, providing institutional-level research reports and a wealth management service system, focusing on professional investment services for high-end users [8][9] - Tiger Brokers scores 9.5, specializing in the US stock market with a strong community interaction and low-latency trading tools [10][11] - Xueqiu scores 9.4, leading in social investment ecology with user-generated content and a mature portfolio-following function [12][13] - Tencent Stock scores 9.3, leveraging the WeChat ecosystem for user acquisition and providing a simple interface for light investors [14][15] - Futu NiuNiu scores 9.2, offering comprehensive cross-border trading support for Hong Kong and US stocks [16][17] - Yitaojin scores 9.0, excelling in financial product sales and research service synergy [18][19] - Ping An Securities APP scores 9.0, integrating insurance, banking, and securities services for ordinary investors [20][21] - Wisdom Star scores 8.9, focusing on traditional trading tools and educational content [22][23] - Huabao Smart Investment scores 8.8, specializing in quantitative trading and high-frequency trading services [24][25] Group 4: Investment Tool Recommendations - For novice investors, tools like AI Zhangle, Xueqiu, and Tencent Stock are recommended for their user-friendly interfaces and educational resources [28][29] - Short-term traders should consider AI Zhangle and Huabao Smart Investment for their speed and cost efficiency [29][30] - Value investors may benefit from AI Zhangle, Yitaojin, and Junhong for their in-depth research and fundamental analysis tools [30][31] - Comprehensive financial planners can look to AI Zhangle, Yitaojin, and Ping An Securities APP for their diverse product offerings and ecosystem integration [31][32] Conclusion - The article emphasizes that the AI transformation in the securities industry has moved from conceptual exploration to practical implementation, with a focus on matching tools to the real needs of different investors [32][33]

Investment Rating - The report assigns a "Buy" rating for Hengyin Technology (603106) for the first time [1]. Core Views - Hengyin Technology is a leader in banking intelligent terminals and is continuously expanding its blockchain capabilities to empower digital currency [1]. - The company is expected to see revenue growth recovery starting in 2024, with significant contributions from overseas markets and the digital renminbi [8][20]. - The strategic focus includes transitioning from hardware provider to software and service provider, enhancing its international presence, and leveraging AI in financial services [41]. Summary by Sections 1. Business Overview - Hengyin Technology specializes in the research, production, and sales of financial intelligent terminals, providing comprehensive products and services to major banks [13]. - The company has developed core technologies for cash handling modules and holds numerous patents, positioning itself as a leading smart banking solution provider in China [13]. 2. Financial Performance - The company is projected to recover revenue growth in 2024, with a forecasted total revenue of 4.37 billion yuan in 2024, increasing to 8.04 billion yuan by 2027 [1]. - The gross margin is expected to improve due to product structure optimization and cost control measures [16]. - The net profit is anticipated to turn positive in 2024, with a significant increase in profitability expected in the following years [16]. 3. Digital Currency and Blockchain - The digital renminbi is positioned as a transformative force in the payment landscape, with the central bank emphasizing its infrastructure development in the latest five-year plan [22]. - Blockchain technology is highlighted as a new generation of digital infrastructure, providing decentralized management and data integrity [37]. 4. Strategic Initiatives - The company has outlined a development strategy focusing on four transformations: expanding from domestic to global markets, diversifying application scenarios, enhancing product offerings, and transitioning to a service-oriented business model [41]. - Hengyin Technology aims to leverage AI and blockchain to enhance its product offerings and improve customer interactions [43][44]. 5. Valuation and Profit Forecast - The report forecasts revenue growth for Hengyin Technology, estimating revenues of 5.04 billion yuan in 2025, 6.25 billion yuan in 2026, and 8.04 billion yuan in 2027, with corresponding growth rates of 15.3%, 24.0%, and 28.6% respectively [49]. - The company is expected to maintain a gross margin of around 27.4% to 30.1% during this period [49].

当前，一场围绕人工智能的宏大叙事正在全球徐徐展开，"AIinall"战略遍地开花。构建适配AI时代的金融新生态，已成为全球金融行业的共同课题，也是中 国推动金融高质量发展、服务现代化产业体系的关键路径。 11月19日，2025（第十一届）湾区金融年会在深圳盛大启幕。本届年会由南方都市报社、湾财社、深圳市财富管理协会联合主办，作为2025深圳国际金融大 会平行论坛，同步联动第十九届深圳国际金融博览会（金博会），以"AI新浪潮金融新生态"为核心主题，汇聚顶尖专家学者与行业领袖，共探"AI+金融"融 合趋势，献智金融高质量发展的"湾区方案"。 在圆桌讨论环节，香港中文大学（深圳）经管学院执行院长、深圳数据经济研究院副院长张博辉担纲嘉宾主持，他与五位来自业界、致力于将AI技术转化 为金融解决方案的"实战派"围绕"数智驱动生态重塑，AI+金融双向奔赴"共同探讨AI驱动高质量发展的核心路径。 圆桌主持: 香港中文大学（深圳）经管学院执行院长、深圳数据经济研究院副院长张博辉 圆桌嘉宾： 腾讯金融研究院副院长、腾讯集团金融消费者权益保护部副总经理史剑 聚焦数据支撑与风险管控双重挑战 招商银行总行数字金融发展办公室副主任韦江波 ...

Core Insights - The application of AI in the financial industry is transitioning from digital transformation to high-quality development, with AI becoming a core driver of operational logic and service model reconstruction [4][5] - The new generation of AI is characterized by its ability to learn, think critically, and apply knowledge across different domains, marking a significant advancement in its capabilities [5] Group 1: AI's Impact on Financial Operations - AI is expected to drive a dual enhancement of efficiency and intelligence, transforming traditional high-consumption production models into efficient, automated processes [5] - The shift from reactive to proactive decision-making is facilitated by AI, moving from "experience-based" to "data-driven" decision-making [5] Group 2: Changes in Customer Dynamics - Customer trust in AI models is increasing, leading to a broader customer base as the gap in understanding narrows between experts and the general public [6] - The service model is anticipated to evolve, with fewer experts managing a larger number of AI-driven services [6] Group 3: Ecosystem Development - The deep application of AI is creating a "chain reaction" in the financial ecosystem, with companies like Ping An developing integrated smart ecosystems across finance, healthcare, and elder care [6] - Ping An has launched numerous AI applications, including AI medical consultations and intelligent claims processing, enhancing operational efficiency [6] Group 4: Practical Applications of AI - The "Ping An Brain" intelligent engine exemplifies how AI can be integrated into core business areas, supporting decision-making and model training through a robust data platform [6] - Nearly 60,000 intelligent agents have been developed, with 90% created by employees, demonstrating widespread AI application across various sectors [6] Group 5: AI in Customer Service and Risk Management - AI has significantly reduced labor costs in customer service, with 80% of tasks handled by robots, serving over 2 billion customers [7] - In risk management, technologies like voiceprint recognition are being utilized for rapid identity verification and fraud detection, with applications already in over 20 cities [7]

将视野投向"十五五"时期的金融发展，吴晓求对"金融高质量服务实体经济"进行了立体化阐释。他认 为，这一内涵远不止于服务企业融资，更要满足居民部门日益多元化的金融需求。他特别指出，随着中 国迈向高收入国家，留住规模庞大的高净值客户的存量财富至关重要，这要求金融业能提供如财富管 理、家族信托等复杂且安全的金融服务，否则资本将会外流。而满足这些需求，必然要求金融创新。他 同时强调，创新必须与有效监管并行。 11月19日，2025（第十一届）湾区金融年会在深圳盛大启幕。本届年会由南方都市报社、湾财社、深圳 市财富管理协会联合主办，作为2025深圳国际金融大会平行论坛，同步联动第十九届深圳国际金融博览 会（金博会），以"AI新浪潮 金融新生态"为核心主题，汇聚顶尖专家学者与行业领袖，共探"AI+金 融"融合趋势，献智金融高质量发展的"湾区方案"。 在主题分享环节，中国人民大学原副校长、国家金融研究院院长、国家一级教授吴晓求从经济转型背景 切入，深刻剖析了中国经济与金融面临的历史性转变与未来改革方向。他指出，中国经济已从"短缺经 济"全面进入"过剩经济"，同时在以智能化为代表的第四次工业革命背景下，研究中国经济问题的理论 ...

Core Insights - The 2025 Bay Area Financial Annual Conference emphasizes the integration of AI and finance, focusing on the theme "AI New Wave, Financial New Ecology" [2] - The conference highlights the potential of public finance as a new financial model that emphasizes social responsibility and impact [3] Group 1: Public Finance Development - Public finance is identified as a natural testing ground in the Greater Bay Area, with significant application prospects for social impact financial products [2] - The development of public finance is expected to become a standard for major financial institutions, similar to the current status of charitable trusts [3] - Financial institutions are seen as key players in wealth distribution, with the ability to leverage financial tools for social value creation [3] Group 2: Ecological Diversity in Finance - The financial ecosystem in the Greater Bay Area requires both large financial institutions and smaller organizations to thrive, each with tailored financial products and models [3] - Large institutions can establish public finance laboratories to innovate and address social needs, while smaller organizations can engage in community financial education and collaborate with established NGOs [3] - The Greater Bay Area is positioned as a hub for technological innovation, with a responsibility to expand the boundaries of social value [3] Group 3: Economic Opportunities - There is a significant "benevolent economy" blue ocean behind social issues, and the first to build financial infrastructure for this market will gain a competitive edge [4]

党的二十届四中全会提出"加快高水平科技自立自强，引领发展新质生产力"，2025年《政府工作报告》也部署了深化大数据、人工智能等研 发应用，实施"人工智能+"行动。在此背景下，持续推动"科技-产业-金融"三者深度融合、递进形成、互促发展并互为支撑的良性循环，发挥 金融对科技创新和产业进步的支持作用，是我国经济高质量发展的必由之路，更是实现中国式现代化建设的必然选择。 在此背景下， 2025腾冲科学家论坛——"科技+金融"论坛将于2025年12月7日在云南举办，论坛以"AI+金融：技术赋能与价值创造"为主题， 由清华大学五道口金融学院主办，是2025腾冲科学家论坛分论坛之一。 结合全球金融科技趋势与国内实践，围绕产业发展、创新驱动、资金 融通等维度展开深度探讨，旨在为科技金融创新发展提供高端交流平台及智力支持，为地方科创成果提供展示窗口，为金融机构与科创企业 搭建经验交流与投融资合作对接渠道。 08:30-09:00 嘉宾签到 09:00-09:05 主持人开场 09:05-09:10 主办方致辞 09:10-09:30 领导致辞 09:30-10:30 主旨演讲 10:30-11:30 高端对话:AI+金融:双 ...