在信息爆炸但专业价值稀缺的资本市场，投资者从未如此渴求系统化的学习工具与精准决策支持。 2025年7月，九方智投股票学习机迎来里程碑式版本迭代，以超过30项功能升级强势回应市场期 待。本次升级不仅聚焦工具性能提升，更以"生态化、专业化、智能化"为核心，打造一站式投资赋 能平台，深刻契合注册制深化下投资者结构变化与专业投顾服务升级的行业大趋势。 ▲ 图为用户正在使用"易知股道"股票学习机 牛人应用：构建金融内容创作者生态 股票学习机本次迭代的核心突破在于重磅上线"创作者生态平台"，这标志着九方智投股票学习机已 从工具提供者向生态构建者跃迁。 其中，"牛人页"是专业价值的"展览馆"。它打破信息茧房，将经过严格筛选的优秀金融创作者及其 专业成果集中展示。投资者可高效发掘与自身投资理念契合的实力导师，解决"选对人"的行业痛 点。 ▲ 图为股票学习机"牛人页" "关注页"是专属信息的"聚合器"。投资者关注的牛人动态、观点更新、策略调整等信息实现一站式 聚合推送。告别信息碎片化，确保用户紧跟所信赖导师的最新洞见，提升信息获取效率。 牛人主页升级是深度互动的"新阵地"。其实现视觉与交互体验全面优化，牛人信息展示更全面。特 ...

中报窗口期开启 ， 价值兑现正当时 虽然基本面是价值的根基 ， 是 价格的中长期锚点，但市场情绪、政策催化等因素 又 常 常 主导短 期波动，导致投资者有时低估了基本面信息对股价的即时冲击力。例如，近期某公司发布中报利润高 增长 的 预告后，其股价应声而涨，清晰地印证了中报业绩对短期股价的显著影响力。 聚焦当下的中报披露期，正是基本面变化对股价产生短期显著影响的关键时刻。回顾过去两年，超 3400份中报业绩预告的数据提供了有力佐证：业绩预喜的公司，在预告发布后的5个交易日内，股 价表现持续领先大盘；相反，业绩下滑（如首亏、预减）的公司，其股价则持续落后于大盘。 因此，中报不仅是公司价值的试金石，更是短期内撬动股价的重要杠杆。投资者需高度重视这一窗口 期，从中报数据中捕捉公司价值变化带来的投资机会。 随着上半年交易收官，市场表现已成定局 ，万得全 A创出近5年最佳上半年涨幅。市场赚钱效应 也 吸引大量新股民跑步入场， 6月，A股市场新开户数达165万户，同比增长53%。 进入 7 月，上市公司中报披露窗口期正式开启，公司的真实价值将通过这份 "期中成绩单"得到展 现，基本面的变化将成为驱动未来一段时间股价变动的 ...

Core Viewpoint - The article emphasizes the importance of creating a personalized investment framework to navigate market cycles effectively, addressing the key questions of "what to buy," "when to buy," and "when to sell" [1] Group 1: Investment Framework - A perfect investment framework does not exist; it must align with the investor's goals and significance, requiring self-reflection and refinement [3] - The core of building an investment framework is not just setting rules but also developing a robust learning engine and cognitive evolution system [3] - Investors should view themselves as lifelong learners and cognitive optimizers, using the framework to enhance investment wisdom [3] Group 2: Cognitive and Knowledge Integration - Constructing a suitable investment framework begins with an honest assessment of one's cognitive map, identifying strengths and blind spots in investment knowledge and skills [3] - A multidisciplinary approach is essential; a single perspective can limit understanding, while diverse models provide a clearer view of reality [3] - Seeking cognitive partners during the investment journey is crucial, leveraging advanced tools for learning and refining the investment framework through intellectual exchange [3] Group 3: Tools for Building Investment Frameworks - The Jiufang Zhituo stock learning machine is highlighted as an effective tool for personal investment framework development, offering comprehensive courses on macroeconomic analysis and investment strategies [6] - The learning machine features include a native market viewing system, proprietary indicators, compatibility with major brokerage software, and a wealth of educational content [6] - It aims to transform investors from relying on intuition to building a knowledge-based investment approach, empowering them to become the chief architects of their investment frameworks [8]

2023年，我国耐心资本约54万亿；同口径下美国耐心资本是64万亿美元，是GDP的2.5倍。 这充分表明， 我国的耐心资本需要总量提升与结构优化。 ▲来源：我国耐心资本总量与结构 股票学习机 重构"基本面+时间价值"投资框架 资本市场 存在 "一拥而上、一哄而散"的痼疾，根源 就 在于短期逐利心态 ， 缺乏耐心资本的定力 。在监管 层大力倡导 "壮大耐心资本"的背景下，如何引导个人投资者践行长期价值投资理念，成为构建健康A股生态 的关键课题。 "杭州六小龙看似一夜崛起，实则是政府、企业与资本十年磨一剑的厚积薄发。"2025财新夏季峰会上，九方 智投控股（9636.HK）旗下九方智投总经理程伟点破了科技创新的真相——没有长期沉淀的"耐心资本"，就 没有颠覆性创新。 程伟呼吁的 "耐心资本"生态，正在股票学习机这一新载体中悄然生长。当投资者打开九方智投"易知股道" 股 票 学习机， 除了行情、资讯等，更多的是股道、选股、择时、基本面、技术面、风控、行业、资产配置、投 资策略等系统课程。通过这些课程的学习，投资者 学会用 目光长远的 "望远镜" ， 而非 眼下的 "显微镜" 来 看待企业价值 ， 这也是对 "耐心资 ...

Core Viewpoint - The article emphasizes the rapid policy transmission and accelerated industry rotation in the A-share market, highlighting the challenges faced by ordinary investors in information selection, trading processes, and strategy adaptation. Jiufang Zhitu's integrated solution of "precise research + scientific decision-making + systematic learning" aims to help investors navigate these challenges and build differentiated advantages in the fluctuating stock market [1]. Group 1: Product Matrix and Solutions - Jiufang Zhitu has developed a stock market software that operates on both mobile and desktop platforms, focusing on "market insights, intelligent decision-making, and interactive experience." The software automatically organizes thousands of financial news daily, filtering core value information to help users quickly identify investment directions [3]. - The company has also created the first stock learning machine in the industry, which integrates hardware, AI, and research capabilities. This device offers six modules, including courses, live broadcasts, news, market data, and intelligent investment advice, catering to investors' learning and practical application needs [4]. Group 2: Functionality and Ecosystem - The stock market software has evolved from a single tool to an ecological closed loop, addressing the significant impact of policies, emotional trading by retail investors, and rapid industry rotation in the A-share market. It utilizes AI algorithms and big data technology to provide multidimensional investment references [9]. - The software integrates resources from Jiufang Zhitu's financial research institute, offering in-depth research reports and industry analyses to help investors understand market trends. It also features an intelligent investment assistant, "Jiugo," providing eight core services, including market analysis and sector tracking [9][10]. Group 3: Learning and Practical Application - The integration of the stock market software with the stock learning machine allows investors to watch professional courses and participate in live interactions on a larger screen, facilitating seamless learning and practical application [10]. - Recent upgrades to the software include enhancements to strategy tools, such as the "Shouyang Shouban" and "Boduan Zhi Xing," which provide intelligent signals for short-term opportunities in technology and policy-driven stocks [10][11]. Group 4: Comprehensive Investment Platform - Jiufang Zhitu's stock market software has transformed from a mere market display tool to a comprehensive investment platform, aggregating resources across its entire product line, including market data, news, live broadcasts, and investment advisory services [12][13]. - The company aims to create a "smart investment advisory service system" that addresses the complexities of market information and scene limitations, establishing a new benchmark for comprehensive research ecosystems in the industry [13].

考场纸笔可暂歇，人生考卷却常新 。 2025 全国高考 结束，当 1300多 万考生走出高考考场，另一场关 乎财富认知的"终身大考"才悄然拉开帷幕。 在传统教育聚焦学科能力之时，一份 关于投资 与财富的"隐形考卷"——金融投资教育，却长期缺席于基 础教育体系。 "财富是对认知的补偿，而不是对勤奋的奖赏。" 投资是一场没有标准答案却处处是陷阱的 大考，而普通散户 如果 "裸考"进场，那么在市场波动中犹如"盲人摸象"。如何补齐"财商"这门必修课， 是摆在广大投资者面前的"必答题"。 从考场到市场， 股票学习机成投资者"五年高考三年模拟" 高考备战十年磨一剑，理财素养的培养却近乎空白。 一份 调查报告揭示残酷现实：盈利投资者的知识储 备显著高于亏损者，认知差距直接决定财富结果。 当前中国个人股票投资者已突破2.2亿，2024年A股新开户数接近2500万户，同比增长16.6%。 这些"新 股民"大多缺乏系统化投资知识， 但 传统学习模式让投资者深陷三重困境：知识碎片化如散落试卷，学 习效率低下似手抄重点，训练无针对性好比"千人一面"的填鸭教学。70%的个人投资者每天 至少 花费 30分钟以上阅读财经资讯，却仍难构建系 ...

Core Viewpoint - The article discusses the significant decline in deposit interest rates in China, marking the end of the "risk-free" era for conservative savers, and highlights the shift towards stock market investments as a new financial strategy for individuals [1][3][14]. Group 1: Deposit Rate Changes - Major state-owned banks in China have collectively lowered deposit rates, with the one-year fixed deposit rate dropping to 0.95%, resulting in a decrease in interest income from 1,450 yuan to 950 yuan for a 100,000 yuan deposit [1][3]. - This reduction in deposit rates has severely diminished the attractiveness of traditional savings, particularly impacting middle-aged and elderly savers who rely on interest income [3]. Group 2: Investment Landscape - The decline in low-risk investment options has led to a growing interest in the stock market, which is now seen as a primary avenue for personal finance [4][5]. - The stock market is experiencing increased attention due to supportive policies aimed at enhancing investor returns and the influx of long-term capital from insurance and pension funds [5]. Group 3: Investor Education and Tools - There is an urgent need for investor education as individuals transition from savings to stock market investments, emphasizing the importance of knowledge and preparation to avoid risky investments [7][8]. - The emergence of intelligent stock learning tools, such as the "Easy Knowledge Stock Path" by Jiufang Zhitu, aims to equip investors with the necessary skills and knowledge to navigate the stock market effectively [10][12]. Group 4: Future of Investment - The article concludes that the era of risk-free returns is over, and investors must embrace knowledge-driven investment strategies to achieve wealth growth [14]. - The shift towards cognitive and professional investment tools is essential for navigating the complexities of the current market environment [12][14].

新华财经上海5月29日电（记者高攀、魏雨田）股市稳定关乎亿万投资者切身利益。如何持续稳定和活 跃资本市场？围绕资本市场的变革与投资新逻辑，日前新华财经记者对中国政法大学教授、中国行为法 学会财经专业委员会会长、国家社科基金重大项目首席专家刘纪鹏，九方智投首席经济学家、中国社会 科学院世界经济与政治研究所全球宏观经济研究室主任肖立晟，九方智投总经理、九方金融研究所所长 程伟进行了采访。 在三位专家看来，超过2亿的个人投资者是活跃资本市场的重要基础，应以提升投资者获得感为切入点 和落脚点，继续深化资本市场投融资综合改革，推动投融资两端平衡发展，增强资本市场内在稳定性， 同时利用人工智能等新技术和专业投顾机构为广大投资者赋能，提升投资者专业能力，从而推动资本市 场高质量发展。 增量政策叠加"科技叙事" 提升资本市场新预期 继去年9月24日一揽子增量政策集中出台之后，今年5月7日，中国人民银行、国家金融监督管理总局、 中国证监会再次发布一揽子金融政策，释放稳市场稳预期的强烈信号。与此同时，伴随DeepSeek的崛 起和资本市场服务科技创新的政策举措密集出台，今年以来A股市场特别是科技板块迎来价值重估的浪 潮，资本市场 ...

面对全球经济格局加速重构、中美贸易摩擦与科技竞合交织的复杂形势，由 九方智投控股（ 9636.HK）旗下九方智投主办的"轻舟已过万重山"——九方金融研究所2025高端投资论坛将于5月 23日正式举办。 论坛汇聚杰出学者与业界领袖，聚焦 "金融强国战略"、"科技自主可控""中期策略 展望"三大核心议题 ，为投资者呈现一场思想盛宴。 其中， 中国政法大学教授、博导、中国行为法学会财经专业委员会会长、国家社科基金重大项目首 席专家刘纪鹏，将出席论坛并作《拉动股市是金融强国的战略举动》主旨演讲。 之前，刘纪鹏就曾 指出： "股市不仅仅关乎股民的财富，更是中国经济转型的一个重要战场。"在他的眼中，股市背后 承载的是整个国家经济复苏的期望和动能。 四大智囊聚首，共论破局之道 最后登场的将是九方金融研究所联席所长侯文涛博士。他将分享《我自坚韧，任尔何风 ——中期策 略展望》， 立足上半年 A股"韧性突围"的实践经验，结合政策工具箱发力点与产业升级新动能，为 投资者们揭示政策面、资金面、情绪面等共振下的结构性机遇。 图为参加九方金融研究所 2025高端投资论坛四位嘉宾 全媒体矩阵覆盖，打造投研风向标 本次论坛将通过九方智投 ...

Core Viewpoint - Investor protection has gained significant attention from regulatory bodies, industry associations, and financial institutions, becoming a crucial goal for the healthy development of capital markets and a major topic in building a strong financial nation [1][5]. Group 1: Company Initiatives - Jiufang Zhituo officially joined the China Fund News Investor Education Alliance on May 15, coinciding with the seventh "515 National Investor Protection Promotion Day" [1]. - Jiufang Zhituo aims to provide inclusive, systematic, and differentiated investment education content, enhancing the long-term construction of stock investment theory for individual investors [1][2]. - The company has launched the "Yizhi Gudao" stock learning machine, filling a market gap for professional stock learning products, and upgraded it in January 2025 to include over 200 courses across seven major areas [4]. Group 2: Educational Efforts - Jiufang Zhituo will conduct diverse educational outreach, focusing on four dimensions: basic theory, thematic activities, anti-fraud topics, and risk education [2]. - The company has organized various innovative educational activities, including the "2024 Investment Research Leader Program" and collaborations with universities to integrate financial knowledge into the national education system [4][5]. - The China Fund News Yinghua account has attracted over 190 financial institutions, creating a robust matrix for investor education [1]. Group 3: Future Directions - Jiufang Zhituo plans to continue exploring innovative methods for investor education, aiming for a comprehensive and inclusive development of financial literacy [5]. - The company will leverage its research capabilities to provide cutting-edge insights on stock trends, market hotspots, and industry sectors [2]. - The upcoming 2025 High-end Investment Forum will feature prominent speakers and will be live-streamed, further enhancing its educational outreach [2][4].