新华财经广州11月23日电当基金投顾迈入"试点转常规"的关键期，当财富管理行业迎来"买方立场深 耕"的深度转型年，一场承载行业共识、定义未来方向的年度盛会即将重磅登场！由中国经济信息社主 办，中共广州市委金融委员会办公室、新华社广东分社支持的"2025广州投资顾问大会暨财富管理转型 发展会议"，定于11月26日至27日在广州南沙盛大启幕。 作为全国首个出台投顾业态地方政策性文件的城市，广州以"1+4+N"工作思路为引领，通过"投顾十 条"政策赋能，已构建起"培训—认证—投资—服务"的完整产业生态。今年5月，央行等五部门联合印 发"南沙金融30条"，明确提出大力发展公募基金投资顾问业务。未来，广州南沙将被建设成为我国金融 业对外开放试验示范窗口、金融创新功能的承载区、粤港澳大湾区国际金融枢纽重要节点。本届大会落 地广州南沙，也将进一步激活区域资源集聚效应，助力"投顾第一城"的成功经验向全国辐射。 议程深度领航：议题与嘉宾双突破，直击行业核心命题 大会的高关注度，核心源于"主会场定调+分会场深耕"的立体化设计，每个环节均紧扣行业痛点，精准 匹配不同群体需求。 （一）主会场：政策+报告+大咖，定调行业未来 政策创新 ...

今年以来，A股市场交投活跃，近期，A股日均成交额更是持续站稳万亿元大关。随之而来的是，AI投 顾管理规模呈现爆发式扩张。AI投顾智能体逐渐成为各大券商、投顾平台的"标配"，行业从"人海战 术"迈向"算法红利"时代。 根据最新数据，A股投资者数量已突破2.4亿户，相当于每6个中国人就有1个股民。值得关注的是，A股 市场中，信息差、知识差、情绪差仍是普通投资者面临的老问题，不过，AI正尝试把投研产能"翻 译"成简明可执行的投资提示，让专业服务从少数人的特权变成多数人的工具。 AI投顾智能体使用体验如何？普通投资者能享受到怎样的普惠投研服务？近期，南方都市报、南都大 数据研究院课题组对同花顺问财、东方财富妙想和九方灵犀3款主流AI投顾智能体进行了测评。在本次 测评中，课题组从普通投资者视角出发，围绕投资分析中常用的热点解读、条件选股和诊股分析三大核 心功能场景，模拟用户需求对三款AI投顾智能体进行了多轮提问测评。根据测评对比，三款AI投顾智 能体各有特点，同花顺问财的口语化语义理解和可视化输出表现较好，东方财富妙想更能融合专业研报 等多信源信息，进行分析整合输出，而九方灵犀则在回答输出中表现出较强的思维链决策推理、 ...

在当前股票投资环境中，投资者教育正由单一的技术学习向理念引导与科技辅助相结合的方向转变。据 悉，九方智投旗下的昂扬系列教学内容由资深投顾老师余扬亲授，他曾在2019年与2020年连续两年获同 花顺颁发的"最佳原创视频同顺号"奖项。余扬将多年市场经验与系统化投资理念结合，探索出的"大道 七线三大战法"，为股票学习者以及新手从零开始学炒股的人群提供了可参考的分析思路。这种方法论 不仅强调趋势与结构的结合，也凸显了风险管理的重要性。 方法论解析：大道七线三大战法的核心思想 随着AI投顾与大数据分析的普及，股票学习方式已由传统的静态经验传授，逐步转向动态、互动的科 技模式。九方智投依托智能分析工具与在线解盘，将AI逻辑嵌入昂扬系列的内容体系，使投资者在参 考市场信息时具备更全面的分析维度。这不仅为零基础学股票的新手提供了更科学的学习机辅助，也让 有一定经验的投资者能够在多变的股市行情中保持方法论的一致性。 投资者路径：从零开始学炒股的三步建议 对于新手炒股而言，从零开始学炒股可分为三个阶段：第一，掌握股票入门基础知识；第二，通过系统 化教学内容理解市场结构；第三，与学员自发组织的交流群交流心得，形成持续学习的习惯。大 ...

Core Insights - The A-share market is witnessing a record high in investor numbers, with 2.246 million new accounts opened in October alone, bringing the total to nearly 250 million [1] - The growth in new accounts is significantly driven by overseas investors and the domestic young demographic, who prioritize compliance and transparency but may lack financial knowledge [1] - The shift from a labor-intensive service model to an AI-driven approach is becoming essential for the industry, as highlighted by the central financial work conference emphasizing "technology finance" [1] Group 1: Industry Trends - The traditional brokerage model is transitioning from a sales-oriented approach to a client-centric advisory model, focusing on long-term, customized wealth management solutions [1] - AI advisory is seen as a crucial tool for enhancing advisory capabilities, improving customer experience, and achieving inclusive and tiered services [1][2] - The integration of AI in brokerage services is expected to address common investor concerns such as stock selection and holding anxiety [1] Group 2: Company Developments - Guojin Securities has initiated AI advisory product development in 2023, with a full launch planned for July 2025, focusing on comprehensive decision support rather than just smart customer service [2] - The company has implemented a "technology down" strategy, making advanced quantitative strategies and models accessible to individual investors [2] - Guojin Securities has established a multi-dimensional quality assurance system to maintain high data quality for its AI advisory products [2] Group 3: Service Innovations - The AI advisory service covers the entire investment lifecycle, offering features like stock selection and holding optimization, addressing key investor questions [3] - The company has developed a collaborative model that combines AI and human advisors, ensuring broad access to services while providing personalized solutions for high-net-worth clients [5] - The initial success of the AI advisory service is reflected in high user engagement, with over 200 million page views and a customer satisfaction rate exceeding 92% [5] Group 4: Market Impact - Guojin Securities reported that its wealth management business contributed 47.27% of revenue in the first half of 2025, with a market share increase in securities trading [5] - The AI-driven approach has not diminished the connection between users and human services; instead, it has enhanced customer loyalty through digital touchpoints [5] - The industry is evolving through three stages of AI empowerment in advisory services, with Guojin Securities positioned in the intelligent leadership phase [6]

Group 1 - The core viewpoint of the news highlights the strong performance of the financial technology sector, with the China Securities Financial Technology Theme Index rising by 1.10% and key stocks like ShenZhou Information and Geer Software seeing significant gains [3] - The Financial Technology ETF (516860) has shown a 1.05% increase, marking its fifth consecutive rise, with a latest price of 1.54 yuan [3] - Over the past week, the Financial Technology ETF has accumulated a 2.69% increase, ranking 2nd among comparable funds [3] Group 2 - The National Development Bank has successfully completed a task of injecting 250 billion yuan into new policy financial instruments, supporting 1,054 projects and expected to drive a total investment of 3.85 trillion yuan [3] - The collaboration between Guojin Securities and ByteDance's Volcano Engine aims to integrate financial resources and technology capabilities, promoting a more inclusive and intelligent financial service system [4] - The Financial Technology ETF has seen a significant growth in scale, with an increase of 116 million yuan over the past week, ranking 2nd among comparable funds [4] Group 3 - The top ten weighted stocks in the China Securities Financial Technology Theme Index account for 55.55% of the index, with companies like Tonghuashun and Dongfang Caifu leading the list [5] - The Financial Technology ETF closely tracks the China Securities Financial Technology Theme Index, which reflects the overall performance of listed companies in the financial technology sector [5]

Investment Rating - The investment rating for the company is "Accumulate" with a target price of 28.18 CNY, while the current price is 22.05 CNY [6]. Core Insights - The launch of the AI Zhangle APP is expected to enhance the competitive advantage of Huatai Securities in servicing long-tail customers, with the potential for a future profit model to further increase the company's profitability [2][13]. - The AI Zhangle APP offers an interactive experience with features such as real-time market monitoring and stock selection, which distinguishes it from traditional brokerage applications [13]. - The report anticipates that the AI Zhangle will improve customer acquisition and retention, thereby increasing the market share of the company's brokerage business [13]. Financial Summary - Projected operating revenue for 2023 is 36,578 million CNY, with a growth rate of 14.2%. By 2024, revenue is expected to rise to 41,466 million CNY, reflecting a 13.4% increase. However, a decline of 13.3% is anticipated in 2025, with revenue projected at 35,953 million CNY [4][14]. - Net profit attributable to shareholders is forecasted to be 12,751 million CNY in 2023, increasing to 15,351 million CNY in 2024, and further to 17,722 million CNY in 2025, indicating a growth rate of 15.4% for 2023-2024 [4][14]. - Earnings per share (EPS) is expected to grow from 1.41 CNY in 2023 to 1.70 CNY in 2024, and reach 1.96 CNY in 2025 [4][14]. Market Data - The company's total market capitalization is 199,042 million CNY, with a 52-week stock price range of 14.74 CNY to 23.20 CNY [7]. - The company has a total equity of 200,134 million CNY, with a book value per share of 22.17 CNY and a current price-to-book ratio of 1.0 [8][14]. Comparative Analysis - The report suggests a valuation based on a price-to-book (PB) ratio of 1.33x, considering the differences with comparable companies [13]. - The projected net asset return (ROE) is expected to increase from 7.0% in 2023 to 8.7% in 2025, indicating improved profitability [4][14].

Group 1 - The core viewpoint is that the securities ETF (512880) has shown strong performance, with a net inflow exceeding 18 billion yuan over four consecutive days, indicating robust investor interest and confidence in the sector [1][3][7] - The central bank's recent meetings emphasized the implementation of a moderately loose monetary policy, which is expected to enhance financial institutions' credit supply and support the securities and capital markets [3][4] - The projected growth for 44 listed securities firms' net profit, excluding non-recurring items, is expected to rise by 52.9% year-on-year in the first half of 2025, driven by increased market activity and the recovery of equity financing functions [3][4] Group 2 - The securities ETF (512880) has attracted over 125 billion yuan in net inflows recently, with its current scale exceeding 540 billion yuan, making it the largest among its peers [4][6][7] - The securities sector is characterized by strong beta attributes, meaning its performance is closely tied to the overall capital market performance, which has historically led to the sector outperforming the broader market during rebounds [4][6] - The outlook for the securities industry remains positive, with expectations of continued performance improvement in investment banking, derivatives, and public fund businesses, alongside a rise in return on equity (ROE) for leading firms [3][7]

Core Insights - The launch of FinMCP-Bench (FinBench) and the Dianjin-Qieman model marks a significant advancement in AI applications within the wealth management sector, providing a measurable standard for AI model performance and enhancing the capabilities of investment advisory services [1][4][8] - The collaboration between Yingmi Fund and Alibaba Cloud aims to address the challenges faced by the wealth management industry in its digital transformation, focusing on personalized investor needs through AI technology [2][6] Group 1: FinBench Overview - FinBench is the first evaluation benchmark specifically designed for AI models in wealth management, focusing on the critical "tool invocation" capabilities essential for investment advisory services [4][5] - The dataset for FinBench is derived from real user interactions on the Qieman APP, capturing complex scenarios in wealth management, such as account diagnostics and asset allocation suggestions [5] - FinBench not only assesses AI models' semantic understanding and knowledge inquiry abilities but also emphasizes the accuracy of tool invocation and the standardization of advisory service processes [5] Group 2: Dianjin-Qieman Model - The Dianjin-Qieman model is designed to effectively utilize tools to solve real-world problems, addressing common issues faced by financial AI models, such as model hallucination and data quality [6][8] - This model is based on Qwen3 and incorporates a robust underlying logic for tool invocation, enhancing decision-making capabilities in complex scenarios [6] - The Dianjin-Qieman model has demonstrated superior tool invocation accuracy compared to larger general models and financial models, while also improving service response speed by 50% [6][8] Group 3: Industry Impact - The introduction of FinBench and the Dianjin-Qieman model provides a clear and feasible development path for the intelligent transformation of the wealth management industry, enhancing efficiency and quality in model selection and financial application development [8] - This innovation is expected to facilitate high-quality development in the wealth management sector, ultimately delivering professional services to a broader range of investors [8]

Group 1 - The core viewpoint of the article is that the AI investment advisory market is expected to grow significantly, with a projected increase from $61.75 billion in 2023 to nearly $471 billion by 2029, representing a growth of over 600% [2][3] - Currently, about 10% of retail investors are using chatbots for stock selection, and half of the surveyed individuals are open to trying it [4][6] - An experiment reported by Finder indicated that a portfolio selected by ChatGPT achieved a remarkable return of 55%, outperforming mainstream funds in the UK market [4][6] Group 2 - Former UBS analyst Jeremy Leung mentioned that he now uses ChatGPT to guide his investment portfolio, stating that even simple tools can replicate many of his previous workflows [6][7] - Industry experts have raised warnings about the risks associated with using general AI models, emphasizing that they may misquote data and overly rely on existing narratives [6][7] - Leung cautioned that chatbots cannot access data behind paywalls, potentially missing critical analytical information [7] Group 3 - To achieve optimal results, users must provide detailed instructions to the AI, such as specifying the context or using reliable sources like SEC filings [9] - There is a concern that if investors become too complacent after easy gains from AI, they may struggle to respond effectively during market crises or downturns [9]

Core Viewpoint - The merger between Xiangcai Co., Ltd. and Dazhihui has made substantial progress, with Xiangcai planning to absorb Dazhihui through a share swap and raise 8 billion yuan for financial technology initiatives [1] Summary by Sections Merger Details - Xiangcai Co. intends to absorb Dazhihui via a share swap, with a swap ratio of 1:1.27, meaning each Dazhihui share can be exchanged for 1.27 Xiangcai shares [1] - The share prices for the swap are set at 7.51 yuan per share for Xiangcai and 9.53 yuan per share for Dazhihui [6] - Following the merger, Dazhihui will be delisted and its legal entity will be dissolved, while Xiangcai will inherit all assets, liabilities, and operations of Dazhihui [6][10] Financial Performance - Dazhihui reported a revenue of 379 million yuan in the first half of 2025, a year-on-year increase of 13.19%, with a net profit loss reduced to 3.47 million yuan from 138 million yuan in the previous year [10] - Xiangcai's revenue for the same period was 1.144 billion yuan, up 4.63%, with a net profit of 142 million yuan, reflecting a 93.12% increase [11] Fundraising and Utilization - Xiangcai plans to raise up to 8 billion yuan, which will be allocated to projects including financial modeling, digital securities construction, and international financial technology initiatives [8] Control and Shareholding Changes - The control of Xiangcai remains stable post-merger, with Huang Wei continuing as the actual controller, holding 22.45% of the shares [9] - Zhang Changhong, the controlling shareholder of Dazhihui, will become a new shareholder with over 5% stake but has committed not to seek control [9] Strategic Synergies - The merger is expected to create significant synergies, enhancing both companies' capabilities in financial services, data engineering, and international business expansion [7][10]