清晨的上海弄堂，人声鼎沸。潘虹饰演的公交车售票员阿莉，带领街坊邻居彻夜排队，只为抢购一 纸"股票认购证"。1994年，电影《股疯》以其辛辣的写实笔触，将资本市场初入寻常百姓家时的狂热、 迷茫与阵痛，镌刻进一个时代的记忆。 影片中，阿莉凭借香港来客阿伦的优势迅速暴富又深陷癫狂，其丈夫许昂则在盲从与贪婪中坠入深渊 ——这不仅是个人命运的沉浮，更是当时，无数缺乏认知武装的散户投资者，在信息不对称浪潮中奋力 挣扎的集体缩影。 三十年弹指一挥间，中国资本市场已崛起为总市值逾百万亿元、上市公司超5000家的全球第二大市场。 然而，普通投资者如何穿越信息差、知识差与认知差的重重迷雾的命题，并未随岁月流逝而消散。 当投资选择呈几何级数增长，"如何选"的挑战已远远大于"有没有"。这不仅是市场的考题，更是在"增 强资本市场内在稳定性""建设金融强国"战略背景下，关乎亿万户家庭财富安全。 居民权益资产占比仅15%，投教升级迫在眉睫 近年来，政策层面持续发力，为投资者教育注入强心剂。从强调"以投资者为本"的监管理念，到推动提 升上市公司投资价值，再到引导长期资金入市，一条清晰的主线贯穿其中：打造一个透明、规范、有活 力、有韧性的资本 ...

清晨的上海弄堂，人声鼎沸。潘虹饰演的公交车售票员阿莉，带领街坊邻居彻夜排队，只为抢购一 纸"股票认购证"。 1994 年，电影《股疯》以其辛辣的写实笔触，将资本市场初入寻常百姓家时的 狂热、迷茫与阵痛，镌刻进一个时代的记忆。 当投资选择呈几何级数增长，"如何选"的挑战已远远大于"有没有"。这不仅是市场的考题，更是 在"增强资本市场内在稳定性""建设金融强国"战略背景下，关乎亿万户家庭财富安全。 居民权益资产占比仅15%，投教升级迫在眉睫 近年来，政策层面持续发力，为投资者教育注入强心剂。从强调"以投资者为本"的监管理念，到推 动提升上市公司投资价值，再到引导长期资金入市，一条清晰的主线贯穿其中：打造一个透明、规 范、有活力、有韧性的资本市场，其基石正在于培育成熟、理性的投资者群体。 影片中，阿莉凭借香港来客阿伦的优势迅速暴富又深陷癫狂，其丈夫许昂则在盲从与贪婪中坠入深渊 ——这不仅是个人命运的沉浮，更是当时，无数缺乏认知武装的散户投资者，在信息不对称浪潮中奋 力挣扎的集体缩影。 三十年弹指一挥间，中国资本市场已崛起为总市值逾百万亿元、上市公司超5000家的全球第二大市 场。然而，普通投资者如何穿越信息差、知识 ...

11 月 21 日，由第一财经主办的" 2025 第一财经金融价值年会"在上海举行。本届年会以 " 突破 · 韧性 · 跃迁 " 为主题，汇聚国内顶尖高校学者、金融机构高管及资本市场参与者，围绕人民币国 际化 " 十五五 " 前瞻、中国经济新质趋势、居民消费率提升路径等核心议题展开深度研讨，并发布 了年度金融行业竞争力权威榜单。 会上，九方智投控股（ 9636.HK ）旗下上海九方云智能科技有限公司（以下简称 " 九方智投 " ） 凭借在 AI 投顾领域的卓越创新与行业影响力，荣获 " 最具影响力投资咨询机构奖 " 。这不仅标志 着业界对九方智投创新模式的高度认可，更折射出证券投顾行业在 AI 驱动下的历史性变革。 2025 第一财经金融价值年会 论坛上，中欧国际工商学院经济学与金融教授、中国首席经济学家论坛研究院院长盛松成，广开首席 产业研究院院长连平、清华大学国家金融研究院院长田轩、莲华资产管理公司首席投资官洪灝等多位 专家就当前经济形势和未来发展趋势发表了见解。 当日，年会重磅揭晓了" 2025 第一财经年度金融人物"，获奖企业在推动行业变革、引领业务创 新、深化市场研究等方面成果卓著，为观察未来经济与 ...

11月21日，由第一财经主办的"2025第一财经金融价值年会"在上海举行。本届年会以"突破·韧性·跃迁"为主题，汇聚国内顶尖高校学者、金融机构高管及资 本市场参与者，围绕人民币国际化"十五五"前瞻、中国经济新质趋势、居民消费率提升路径等核心议题展开深度研讨，并发布了年度金融行业竞争力权威榜 单。 会上，九方智投控股（9636.HK）旗下上海九方云智能科技有限公司（以下简称"九方智投"）凭借在AI投顾领域的卓越创新与行业影响力，荣获"最具影响力 投资咨询机构奖"。这不仅标志着业界对九方智投创新模式的高度认可，更折射出证券投顾行业在AI驱动下的历史性变革。 深耕AI投顾生态，破解行业"三差"难题 2025年被业界广泛定义为"智能体元年"，各行各业的AI智能体应用呈现井喷之势。对于AI投顾行业来说，也到了从辅助工具到智能生态的新时代。 深耕证券投顾市场近三十年的九方智投，始终将服务个人投资者作为核心使命。公司业务版图覆盖股票投资工具、证券投资顾问、投资者教育等核心领域， 其产品线历经多轮迭代——从股道领航、超级投资家等核心业务，到近年来广受市场关注的AI股票机、九爻股等智能化创新产品，公司始终走在行业创新 升级的前 ...

入冬后的申城，寒气袭人，却挡不住股民们的热情。三五成群的投资者们裹着厚外套，手里拿着热茶， 聚集在广东路西藏中路，热烈讨论着行情走势。这个自发形成的"马路股市沙龙"，每逢周末便成为沪上 股民交流学习的重要场所。 在人群中，一位戴着眼镜的中年股民正在草稿纸上画着技术图形，向周围人讲解均线系统的实战应 用。"突破关键阻力位需要成交量的确认，这是技术分析的基本功。"他的讲解引来阵阵讨论，有人补充 着各类指标的适用条件，还有人分享着择时、择股、波段操作的方法论。 股民们正在街头交流炒股心得。（复原当时情景，AI辅助生成） 退休工人王师傅是这里的常客，他操着一口地道的上海话感慨："现在的小年轻炒股，不像我们当年光 靠听消息了，都讲究要学真东西。这波行情来了，我们每周都找个主题好好研究。上周刚聊完经济大势 怎么影响股市，这周就在琢磨各个板块是怎么轮着涨的。" 旁边几位年轻股民正凑在一起，盯着平板电脑上跳动的曲线。"你看，我们正在测试这个指标策略在不 同行情下灵不灵光。"其中一个戴眼镜的男生推了推眼镜说："炒股不能凭感觉，得看数据说话，就像做 实验一样，得反复验证。我就在研究当下最流行的量化模型！" 从经验分享到工具革新 ...

Core Viewpoint - The A-share market in 2025 is at a historical juncture of policy dividends and technological revolutions, with significant gains in indices like the ChiNext and STAR Market, driven by breakthroughs in technology and AI reshaping investment decision-making [1] Macro Strategy Perspective - The current market is driven by global liquidity and the AI wave, shifting the A-share focus towards "endogenous momentum" [2] - Global monetary easing, particularly the Fed's interest rate cuts, has released substantial liquidity, supporting markets like NASDAQ and Nikkei [4] - AI is becoming the core engine for global industrial resonance, with significant capital expenditure in the tech sector and optimistic market expectations for AI applications [4][5] Market Characteristics - The market is characterized by a "tech-led, commodity-following" pattern, with tech assets becoming the core focus for capital allocation [5] - A-shares are transitioning from "scale-driven" to "quality-driven," with tech sector performance becoming a focal point for investors [5] Q4 Market Outlook - The market style is shifting towards "core manufacturing/ resource sectors" as trading volume increases, with a focus on high elasticity sectors like technology and resources [5] - Investors are advised to avoid blindly chasing high-performing sectors and to wait for better entry points after adjustments [5] Investment Logic - The "invisible forces" driving the current market include national strategy, global competition, and capital consensus, with "new three items" (robots, AI, innovative drugs) as key engines [12] - Long-term investment logic should focus on sectors not yet fully priced in, such as AI algorithms and biotechnology, while mid-term strategies should leverage the ongoing dollar easing cycle [13] Investment Strategy for Ordinary Investors - Investors should adopt a balanced dual-position strategy, focusing on low-valuation, high-dividend sectors for defense while targeting high-growth areas like robots and AI for offensive positions [14] - The long-term trend remains focused on technology and new productivity, suggesting that maintaining a commitment to these sectors will yield stable returns [15]

Core Viewpoint - The Shanghai Composite Index has surpassed 3900 points, marking a ten-year high, with a cumulative increase of over 28% since the low on April 7, and a year-to-date increase of 16% [1] - The A-share market is undergoing a historic shift from scale-driven to quality-driven growth, characterized by technological leadership in industrial upgrades and the influx of long-term capital [1] - The first Financial Influencer Summit by Jiufang Zhitu AI Stock Machine aims to provide a platform for integrating top-tier wisdom, practical experience, and cutting-edge technology to inject new investment dynamics into the market [1] Group 1: Summit Highlights - The summit features a combination of financial influencers and authoritative experts, creating a top-tier investment exchange platform that bridges macro theory and micro practice [3] - Key discussions will focus on essential topics for investors, such as the necessity of tools in building personal analysis systems and strategies for navigating market volatility in Q4 [4] - Users of Jiufang Zhitu AI Stock Machine will share their experiences, showcasing how the AI tool aids decision-making and enhances efficiency in real investment scenarios [5] Group 2: Industry Impact - The gathering of diverse financial influencers at the summit reflects Jiufang Zhitu's strong industry presence and platform value, emphasizing the importance of professional credibility and the appeal of AI investment tools [6] - The summit signifies Jiufang Zhitu's strategic deployment in response to market trends and user needs, transitioning from merely showcasing product functions to establishing value recognition [7] - The event serves as a critical exploration and practice for the investment advisory industry, addressing the demand for certainty in strategies and the role of AI tools in complex investment environments [8]

Core Viewpoint - The article highlights the significant rise of the Shanghai Composite Index, which has surpassed 3900 points for the first time since August 2015, indicating a historical shift in the A-share market from scale-driven to quality-driven growth, with technology leading industrial upgrades and long-term capital entering the market [1] Group 1: Summit Overview - The inaugural Financial Influencer Summit organized by Jiufang Zhitu aims to integrate top-tier wisdom, practical experience, and cutting-edge technology to provide new perspectives and investment momentum for the market [1] - The summit will feature prominent financial experts and influencers, including Hou Wentao, who will provide insights into macroeconomic trends and key industry developments for the fourth quarter [2] - The combination of theoretical and practical insights from various financial leaders is designed to create a bridge between macro theory and micro practice, enhancing the overall investment strategy [2] Group 2: Roundtable Discussions - A roundtable discussion will take place, focusing on core topics such as the necessity of tools in building personal investment analysis systems, the approach to constructing a personal knowledge base, and strategies for navigating market volatility in the fourth quarter [4] - The discussions aim to address key pain points for investors, including overcoming capability bottlenecks and the roles of personal review, systematic learning, and AI tools in investment growth [4] Group 3: Attractiveness of the Summit - The summit's ability to attract diverse financial influencers underscores Jiufang Zhitu's strong industry presence and platform value, with a focus on the theme of "New Tools, New Bull Market, New Resonance" [6] - The participation of these influencers reflects their recognition of the profound changes AI technology brings to the investment field, as they seek to explore how AI can reshape investment advisory services [6] Group 4: Strategic Intent and Market Response - The summit represents Jiufang Zhitu's strategic deployment based on deep market insights and user needs, marking a critical transition from merely showcasing product functions to establishing value recognition [8] - It serves as a response to the market's demand for certainty in investment strategies and addresses investors' confusion regarding growth paths, validating the auxiliary value of AI tools in complex investment environments [9]