Core Viewpoint - Digital finance is a crucial part of the financial sector's innovation and transformation, with Xiangcai Securities leading the way in digital transformation through a technology-driven strategy [1][2]. Group 1: Strategic Positioning - Xiangcai Securities adopts a "light asset, heavy technology, strong ecosystem" approach to differentiate itself in a competitive market [2]. - The company positions digital finance as a core pillar of its overall strategy, focusing on "financial technology + collaborative innovation" to build a business model centered on wealth management [2][4]. Group 2: Technological Integration - The company integrates AI technologies, including machine learning and large language models, into its operations, viewing them as key elements for future business success [4][5]. - The launch of the DeepSeek R1 service marks a significant step in the company's "intelligent business transformation," enhancing its capabilities in smart investment advisory [4][5]. Group 3: Mergers and Acquisitions - The merger between Xiangcai Securities and Dazhihui is seen as a landmark event in the industry, aimed at overcoming resource constraints faced by small and medium-sized brokerages [5][6]. - The combined entity is expected to leverage synergies from "licenses + products + traffic + data + technological capabilities" to create an "AI advisory brokerage" [6]. Group 4: Future Directions - Over the next three years, the company plans to deepen its digital transformation by focusing on three main areas: optimizing its smart enterprise architecture, enhancing core technology research and development, and strengthening technology talent and ecosystem development [7][8]. - The company aims to integrate big data analysis into its wealth management processes and enhance customer service efficiency through AI applications across various business functions [7][8].

编者按： 时代之笔擘画新章，金融活水润泽实体。在金融"五篇大文章"铺就的壮阔画卷中，证券业正以创新之墨挥毫作 答。这是服务国家战略的使命担当，更是深化金融供给侧改革的生动实践。证券业以"国之大者"为经，以"民之关 切"做纬，让金融血脉与实体经济同频共振，奏响中国式现代化的资本强音。证券时报联合中国证券业协会，推 出"做好'五篇大文章' 证券业作答进行时"系列专栏， 本篇为系列报道之二十二，敬请垂注。 数字金融作为金融"五篇大文章"中的重要篇章，正引领着金融行业的创新与变革，扮演着推动金融服务高效、普惠与智 能发展的重要角色。 湘财证券作为中小券商数字化转型的先行者，以"技术驱动业务"为战略内核，通过AI技术深度赋能、生态化资源整合及 组织基因重塑，探索出一条差异化突围路径。 轻资产，重构科技基因 在头部券商规模效应与互联网平台流量夹击下，湘财证券选择了一条"轻资产、重科技、强生态"的差异化路径。 从战略定位看，湘财证券将数字金融视为整体战略的核心支柱，以"金融科技+协同创新"双轮驱动，构建以大财富管理为 主体、精品投行与创新业务为支撑的业务模式。 湘财证券总裁周乐峰介绍，公司基于轻资产战略，围绕"智慧型企业架 ...

Core Insights - Digital finance is a crucial part of the financial industry's innovation and transformation, driving efficient, inclusive, and intelligent development of financial services [1] - Xiangcai Securities is a pioneer in the digital transformation of small and medium-sized brokerages, adopting a "technology-driven business" strategy to explore a differentiated path [1][2] Group 1: Strategic Positioning - Xiangcai Securities adopts a "light asset, heavy technology, strong ecosystem" strategy to differentiate itself amid competition from leading brokerages and internet platforms [2] - The company views digital finance as a core pillar of its overall strategy, focusing on "financial technology + collaborative innovation" to build a business model centered on wealth management supported by boutique investment banking and innovative services [2] Group 2: Technological Integration - The company has established a "smart enterprise architecture" that integrates online and offline channels, creating three digital touchpoints: "Baibao Xiang" APP, "Xiangju Wealth" platform, and the quantitative service system "Jingangzuan" [2] - Xiangcai Securities has seen significant improvements in customer intent recognition accuracy and online service response times, with technology investments growing over 30% annually for the past three years, and the technology team now comprising 25% of the workforce [2][3] Group 3: AI Implementation - The company emphasizes the application of artificial intelligence (AI) as a key factor for business success, integrating machine learning, deep learning, and large language models into its operations [4] - The launch of the DeepSeek R1 service has transformed the company's "intelligent business" transition, significantly enhancing customer service capabilities and operational efficiency [4][5] Group 4: Mergers and Acquisitions - Xiangcai Securities is pursuing a "strategic merger + ecological collaboration" approach to overcome resource constraints faced by small and medium-sized brokerages, exemplified by its merger with Dazhihui [6][7] - The merger is expected to create an "AI advisory brokerage," leveraging the strengths of both companies to enhance competitive positioning in the market [7] Group 5: Future Directions - The company plans to deepen its digital transformation over the next three years, focusing on building and optimizing a smart enterprise architecture, enhancing core technology research and development, and strengthening technology talent and ecosystem development [8][9] - Key initiatives include embedding big data analysis capabilities in wealth management, enhancing customer profiling, and fostering collaboration with fintech partners to expand digital financial services [9]