目前，九方智投控股已构建九方灵犀、九方AI 股票机、九方智投APP等AI产品矩阵，2025年已相继斩 获"年度 AI 应用场景突破企业""年度 AI 应用""年度竞争力数字金融创新产品"等数十项行业重磅奖项。 （邓侃） 转自：新华财经 12月4日，由新华社品牌工作办公室、新华网联合主办的2025企业家博鳌论坛在海南启幕。本届论坛围 绕新质生产力培育、数智科技创新发展等核心议题展开，为期4天，共30余场平行论坛，凝聚行业高质 量发展共识。 九方智投控股（9636.HK）受邀参会，并在2025品牌信用建设论坛进行主旨分享。大会上，《九方智 投"AI+投顾"双轨实践——智能化服务体系创新案例》与《九方智投AI股票机：AI驱动的智能投顾与投 教一体化解决方案》两项AI成果，成功获评"2025金融新质生产力优秀实践"奖项。本次入选的还有中国 工商银行、中国建设银行、中信建投等金融机构的标杆项目。 编辑：葛佳明 ...

Core Viewpoint - The article highlights the significant transformation in the investment advisory industry driven by AI, with Jiufang Zhitu (九方智投) being recognized for its innovative contributions and leadership in this sector [1][3]. Group 1: Event Overview - The "2025 First Financial Value Annual Conference" was held in Shanghai, focusing on themes such as resilience and the internationalization of the RMB, featuring discussions from top scholars and financial executives [1]. - Jiufang Zhitu was awarded the "Most Influential Investment Consulting Institution Award," reflecting its innovative model and impact on the securities advisory industry [1][3]. Group 2: Industry Challenges and Solutions - Jiufang Zhitu has identified three structural challenges faced by retail investors: information asymmetry, cognitive gaps, and knowledge deficiencies, which hinder their investment decisions [5]. - The company aims to address these challenges by leveraging AI to make professional investment research accessible to all investors, transforming complex analyses into understandable information [6]. Group 3: AI Integration and Product Development - Jiufang Zhitu has developed a multi-agent network called FAN (Finsphere Agent Networks) to enhance its investment advisory services, allowing for real-time interaction and task delegation among various specialized subsystems [8]. - The company’s product offerings, including the AI Stock Machine, integrate tool, educational, and advisory attributes, showcasing the application of new productivity in financial technology [10]. Group 4: Future Directions - Jiufang Zhitu plans to continue enhancing investor education and advisory services, focusing on financial technology to promote investment equality and develop a healthier capital market [14].

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 ...

Core Insights - The A-share market has seen a significant increase in trading activity, with daily trading volume consistently exceeding 1 trillion yuan, leading to a rapid expansion of AI advisory management scale [1] - The number of A-share investors has surpassed 240 million, indicating that approximately 1 in every 6 Chinese individuals is now a stock investor [1] - AI is addressing traditional issues faced by ordinary investors, such as information asymmetry and emotional biases, by translating research capabilities into actionable investment advice [1] AI Advisory Experience - A recent evaluation of three mainstream AI advisory systems—Tonghuashun Wencai, Dongfang Caifu Miaoxiang, and Jiufang Lingxi—focused on their performance in investment analysis, particularly in hot topic interpretation, stock screening, and stock diagnosis [2] - Each AI advisory system has its strengths: Tonghuashun Wencai excels in natural language understanding and visualization, Dongfang Caifu Miaoxiang integrates multiple information sources for analysis, and Jiufang Lingxi offers strong reasoning and personalized service capabilities [2] Market Hotspot Analysis - In the context of fluctuating international markets, particularly the rising US dollar, the AI systems provided multi-dimensional analyses on which safe-haven assets to consider, with common mentions of gold, silver, Swiss francs, and US Treasury bonds [3] - Jiufang Lingxi provided more detailed insights, including recent trends in spot gold and gold ETFs, as well as defensive sector funds in healthcare and consumer sectors [3] Stock Screening and Analysis - The AI systems demonstrated distinct stock screening criteria, with Tonghuashun Wencai focusing on comprehensive valuation metrics, Jiufang Lingxi emphasizing higher ROE and revenue growth, and Dongfang Caifu Miaoxiang targeting non-ST stocks with significant market capitalization [6] - Jiufang Lingxi's analysis included a multi-dimensional approach, combining profitability, industry trends, and policy support, showcasing its strong logical analysis capabilities [6][10] Individual Stock Analysis - The evaluation included in-depth analyses of popular chip stocks, with Jiufang Lingxi providing comprehensive insights across various dimensions, while Tonghuashun Wencai focused on fundamental, technical, capital, and news aspects [8][9] - All three AI systems effectively utilized data visualization and interactive elements to enhance user engagement and understanding [9] User Experience and Design - Jiufang Lingxi achieved an overall user satisfaction rate of 83.7%, indicating strong performance in user interaction and experience design [11] - Each AI advisory system has a unique interface: Jiufang Lingxi emphasizes clear functional divisions, Tonghuashun Wencai follows a data-first approach, and Dongfang Caifu Miaoxiang opts for a clean and straightforward design [11]

Core Insights - The company has achieved an upgrade to an A rating in the 2025 Wind ESG rating, ranking 47th among 186 participating software companies, reflecting significant breakthroughs in environmental management, technological innovation, and social value creation [1][3] ESG Performance - In 2024, the company reduced its carbon emission density to 1.43 tons per person, a decrease of 6.94% compared to the previous year [3] - The generation of non-hazardous waste per unit decreased by 7.88%, and electricity consumption density also fell by 6.95% [3] - The company has established an ESG governance structure directly supervised by the board, integrating DEI principles and privacy protection into daily management processes [4] Technological Innovation - The company leverages its self-developed AI dialogue agent "Jiufang Lingxi" to enhance service efficiency and customer experience [4] - Innovative tools like "AI Monitoring Officer" and "AI Inspection Officer" have been implemented to create an intelligent compliance defense [4] - The newly established subsidiary Jiufang Zhiqing focuses on technological advancements and collaborates deeply with Tencent Cloud to explore new opportunities in cloud computing [4] Educational Initiatives - As the "first stock in securities investor education," the company emphasizes education, creating a comprehensive investment education system that spans multiple universities and the general public [4] - The company participates in significant events like the First Financial Buffett Shareholders' Meeting live broadcast and the National Investor Protection Day, enhancing market awareness and bridging connections between regulatory bodies, financial institutions, and ordinary investors [4] Strategic Development - The company aims to optimize its ESG governance framework through measures like carbon footprint tracking and green supply chain transformation [5] - It is accelerating the application of AI technology in core securities scenarios to build a more efficient and secure financial service ecosystem [5] - With the growing demand for professional financial management among retail investors, the company is positioned to usher in a new era of financial inclusivity [5]

Core Insights - The article discusses the challenges faced by traditional investment advisory services, including low response efficiency, difficulties in personalized strategy recommendations, and limited content generation capabilities [1][2][3] Group 1: Challenges in Investment Advisory Services - There is a significant asymmetry in supply and demand for investment advisory services, leading to low user consultation response efficiency [1] - Personalized strategy recommendations are difficult due to a lack of user profiling and risk adaptation [2] - Content generation capabilities are limited, resulting in a lack of coherence and depth in strategy interpretation and market commentary [3] Group 2: Solutions Proposed - The introduction of an intelligent dialogue assistant aims to improve response efficiency by providing 24/7 support for personalized investment queries [4] - A dynamic user profiling system is proposed to enhance personalized advisory content generation and push notifications based on user behavior and risk assessments [5] - The development of a financial content generation engine is suggested to automate the production of market commentary, strategy analysis, and educational content, thereby improving user engagement and trust [5] Group 3: Achievements and Impact - The "Jiufang Lingxi" model has achieved significant milestones since its launch, addressing the limitations of traditional advisory teams and enhancing service quality [5][6] - As of early 2025, the platform has recorded over 18 million interactions, with a user penetration rate of over 10% for intelligent advisory services [7] - User satisfaction exceeds 50%, particularly praised for the professionalism and timeliness of responses, contributing to the dual empowerment of both small and large business segments [7]

Core Insights - The financial industry is increasingly integrating AI into its operations, transitioning from a focus on efficiency to a strategic necessity for core competitiveness and survival [1] - Jiufang Zhitu Holdings has accelerated its AI strategy, with a significant increase in R&D personnel and the launch of multiple AI products [1][2] - The company has established a wholly-owned tech subsidiary, Jiufang Zhiqing, to explore various possibilities of "Artificial Intelligence +" [1][5] Investment Research and Technology - Jiufang Zhitu Holdings has a strong talent pool with 462 licensed investment advisors and a total of 1,935 securities professionals, supporting high-quality research output [2] - The company has conducted nearly 70 company research projects and produced around 560 in-depth analysis articles on macroeconomics, industry trends, and corporate fundamentals [2] - The self-developed AI model, Jiuzhang, has enabled the launch of core AI products like Jiufang Lingxi, which offers intelligent and personalized investment services [2][3] Digital Transformation - The company is actively pursuing a "digital intelligence" transformation, having established a comprehensive product matrix that includes various applications and learning tools [4][5] - Jiufang Zhiqing is focusing on developing financial vertical models and aims to create an open intelligent engine to support the company's digital transformation [5] - The company plans to deepen AI integration across product services, business operations, and management while also exploring overseas expansion and diversification [5][6] Market Response and Future Outlook - Jiufang Zhitu Holdings' recent financial report reflects the results of its digital transformation efforts, showcasing its core advantages in intelligent algorithms, professional research, and ecosystem services [6] - The company has garnered attention from over 10 brokerage firms this year, receiving positive ratings and indicating strong market interest [6]

Investment Rating - The report assigns a "Buy" rating for the company, indicating strong potential for growth and performance in the capital markets [5][10]. Core Insights - The company is recognized as a leading online investment decision-making solution provider in China, with a strong emphasis on research, technology, and operational capabilities. Its business model is highly elastic to capital market performance, suggesting significant growth potential during market upswings [6][11]. - The company has a concentrated and stable shareholding structure, with the controlling shareholders holding 65.5% of the shares, which may contribute to strategic consistency and long-term planning [6][29]. Summary by Sections 1. Leading Online Investment Decision-Making Solution Provider - The company began as a high-end investment education service provider and has strategically expanded into overseas markets [16]. - It holds a rare securities investment consulting license, which is crucial for compliance and operational legitimacy in a tightly regulated industry [17]. 2. Core of Traffic Operations and Re-monetization - The business model focuses on acquiring users through public media and converting them into paying customers via private channels, enhancing user engagement and retention [35]. - The company has shifted its product strategy from high-value offerings to a diversified product range, including small-scale and educational products, to tap into a broader customer base [50]. 3. Capturing the Knowledge Payment Wave - The number of individual investors in the A-share market has steadily increased, providing a growing customer base for the company's services [59]. - The company has effectively leveraged new media platforms like Douyin to capture traffic and enhance user engagement, resulting in a significant increase in followers and content reach [7][36]. 4. Competitive Advantages - The company boasts a robust research and development team, with 119 researchers contributing to high-quality investment content, supported by AI technology for operational efficiency [8]. - The company has demonstrated a strong return on investment (ROI) in its traffic acquisition strategies, with a notable increase in ROI from 2.6 times in 2022 to 5.2 times in 2024 [36]. 5. Profit Forecast and Valuation Comparison - The company is projected to achieve net profits of 1.285 billion, 1.396 billion, and 1.710 billion yuan for the years 2025, 2026, and 2027, respectively, with significant growth rates [10][11]. - The company's price-to-earnings (P/E) ratio is significantly lower than its comparable peers, suggesting an undervaluation relative to its growth potential [10].

Core Insights - The establishment of Jiufang Zhiying marks a strategic move by Jiufang Zhituo Holdings to leverage AI technology in the securities industry, aiming to enhance efficiency and redefine investment consulting services [1][2] - Jiufang Zhiying's entry into the "Mosu Space" innovation ecosystem is part of a broader initiative to integrate AI capabilities into financial services, positioning the company as a key player in China's AI-driven market [2][3] - The collaboration with Tencent Cloud focuses on enhancing AI tools, redefining operational paradigms, and establishing a robust technological foundation, which is expected to yield significant synergies [3] Company Developments - Jiufang Zhituo Holdings has been actively investing in AI, with a comprehensive model system and products like Jiufang Lingxi, which provide intelligent and personalized investment services [1][4] - The company reported a strong growth trajectory, with a projected R&D expenditure of 319 million yuan in 2024, reflecting a double-digit growth rate and a significant commitment to innovation [5] - Jiufang Zhituo's focus on AI integration is expected to create a unique competitive advantage, enhancing its attractiveness to investors and positioning it for long-term growth [5] Industry Context - The rapid advancement of AI is reshaping the securities consulting industry, offering new efficiencies and experiences, and driving a wave of technological transformation [2][4] - The recent financial performance of major tech companies, such as Meta and Microsoft, underscores the high demand and optimism surrounding AI-related investments, which is likely to influence investor sentiment towards Jiufang Zhituo Holdings [4] - The increasing "AI content" in financial services is anticipated to lead to a re-evaluation of investment values in the sector, with Jiufang Zhituo poised to benefit from this trend [4]

Core Viewpoint - The establishment of Jiufang Zhiying marks a strategic move by Jiufang Zhitu Holdings to leverage AI technology in the securities industry, aiming to enhance efficiency and redefine investment consulting services [1][2][4] Group 1: Company Developments - Jiufang Zhiying was officially launched in Shanghai's "Mosu Space," a hub for AI innovation, to explore AI applications in the securities sector [1][2] - The company has previously established an AI center and developed a comprehensive model system for the securities field, including the launch of AI products like Jiufang Lingxi [1][4] - Jiufang Zhitu Holdings is transitioning from traditional investment consulting to intelligent consulting, with a focus on AI integration [1][4] Group 2: Strategic Collaborations - Jiufang Zhiying has formed a strategic partnership with Tencent Cloud, focusing on enhancing AI tools, redefining operational paradigms, and building a resilient technological foundation [3] - This collaboration is expected to create significant business synergies, leveraging Tencent Cloud's resources to enhance Jiufang Zhiying's capabilities in financial technology [3] Group 3: Market Position and Financial Performance - The rapid development of AI is reshaping the business landscape, leading to a re-evaluation of AI-related stocks in the capital market [4] - Jiufang Zhitu Holdings has reported a positive trend in profits, supported by high contract liabilities, indicating strong performance for the second half of the year [4][5] - The company is investing heavily in R&D, with a projected expenditure of 319 million yuan in 2024, representing a double-digit growth rate [5] Group 4: Competitive Advantage - Jiufang Zhitu Holdings is building a unique competitive edge through AI-driven technology, which is recognized by institutional investors [5] - The company’s investment value is seen not only in its current market position but also in its ability to capitalize on future opportunities in financial technology [5]