对于手握积蓄寻找确定性的投资人来说，基金投资正从"单品选择"转向"平台甄选"，因为后者直接关系到资产配置的效率和长 期财富的守护。 当前，监管环境的变化在重塑行业走向。2025年中国证监会印发的《推动公募基金高质量发展行动方案》提出建立基金销售机 构分类评价机制，并合理调降公募基金的认申购费和销售服务费，这一政策推动行业从"求快"到"深耕"转型。 21世纪经济报道李域 随着政策导向的变化，各大代销平台纷纷调整战略，淡化短期"翻倍基"的宣传，转而强调长期回报能力与持有体验。这种转变 使得代销平台的竞争更加多元化，不再仅仅围绕费率与产品广度，而是扩展到投顾服务、数字化工具、内容生态等综合能力的 比拼。 21世纪经济报道投顾课题组选取市场上九家具有代表性的基金销售机构，涵盖三类核心阵营，包括第三方基金销售机构蚂蚁财 富、腾讯理财通和天天基金，银行系的招商银行、工商银行和平安银行，券商系的中信证券的信e投、华泰证券旗下的涨乐财富 通和广发证券易淘金，课题组从平台定位与用户满足、权益类基金保有规模与产品筛选、内容布局与特色服务三大维度，系统 对比各平台的差异与共性，深度拆解其运营逻辑，最终形成系列文章，供投资者参考。 ...

Core Viewpoint - The stock of Yao Cai Securities Financial experienced a significant decline following the announcement regarding the potential acquisition by Ant Group's subsidiary, raising concerns about the completion of the deal and its implications for shareholders [2][3] Group 1: Stock Performance - On November 12, Yao Cai Securities Financial's stock opened lower, with an intraday drop of nearly 5%, trading at 8.32 HKD per share, reflecting a day decline of 4.48% [2] Group 2: Acquisition Announcement - On the evening of November 11, Yao Cai Securities Financial issued an announcement regarding the acquisition by Ant Group's subsidiary, indicating that the remaining conditions for completion may not be met by the final deadline of November 25 [2] - The company cautioned shareholders and potential investors that the completion of the acquisition is contingent upon the fulfillment of conditions outlined in the share purchase agreement, which may or may not be realized [2] Group 3: Financial Details - According to a previous announcement on April 25, Ant Group's wholly-owned subsidiary, Shanghai Yun Jin, plans to acquire 50.55% of Yao Cai Securities' controlling shareholder, New Chang Ming Holdings, at a price of 3.28 HKD per share, totaling approximately 28.14 billion HKD [2] - Shanghai Yun Jin is also a shareholder of Ant Wealth, an internet financial platform, and Yao Cai Securities Financial has indicated that this collaboration is expected to drive future business growth and facilitate the company's digital transformation [2] Group 4: Regulatory Approval - The transaction requires approval from the Hong Kong Securities and Futures Commission and the National Development and Reform Commission of China [3] - On October 10, Yao Cai Securities Financial announced that Shanghai Yun Jin had received approval from the Hong Kong Securities and Futures Commission, becoming the major shareholder of several subsidiaries, with the acquisition process proceeding as planned with the National Development and Reform Commission [3]

而根据4月25日耀才证券金融公告，蚂蚁集团全资子公司上海云进计划以3.28港元/股的价格，收购耀才 证券控股股东新长明控股持有的50.55%股份，总对价约28.14亿港元。上海云进也是互联网理财平台蚂 蚁财富的股东，耀才证券金融曾在公告中表示，本次合作将驱动公司未来的业务增长，促进耀才证券金 融数字化及转型。 按照两地监管规定，这一交易需获得香港证监会和中国发改委的审批。10月10日盘后，耀才证券金融公 告称，要约人上海云进已获香港证监会批准，成为耀才期货及商品有限公司、耀才证券国际(香港)有限 公司、耀才资产管理有限公司及耀才环球外汇有限公司的主要股东，与国家发改委就收购事项的相关流 程正按计划推进中。 北京商报讯（记者 廖蒙）11月12日，港股上市公司耀才证券金融开盘下挫，盘中一度跌近5%。截至当 日11时40分，耀才证券金融报8.32港元/股，日内跌幅为4.48%。 就在11月11日晚间，耀才证券金融就蚂蚁集团子公司入股一事发布最新公告。公告指出，由于最终截止 日期(即11月25日)将至，剩余完成条件可能于该日期或之前未能达成，要约人正考虑可能延长最终截止 日期。耀才证券金融提醒，公司股东及潜在投资者应 ...

11月11日晚间，耀才证券金融在港交所公布要约收购进展：由于最终截止日期（即2025年11月25日）将 至，剩余完成条件可能于最终截止日期或之前未能达成，要约人蚂蚁方面正考虑可能延长最终截止日 期。据此前公告，上海云进信息技术有限公司通过旗下子公司，以每股3.28港元的价格向耀才证券发起 要约收购，上海云进同时是互联网理财平台蚂蚁财富的股东。 ...

Core Insights - The article emphasizes the importance of insights over mere data in the investment landscape, highlighting the need for tools that can transform raw data into actionable intelligence for investors [1] Data Advantage - Sina Finance APP covers 98% of the market's fund products and monitors over 10,000 funds in real-time, integrating data from 163 major fund companies, allowing investors to access comprehensive fund net value information without switching platforms [2] - The app boasts a refresh speed of 0.03 seconds, maintaining performance during high-traffic events, unlike competitors that may experience delays of 1-2 seconds [2][3] Intelligent Tools - The app utilizes advanced data visualization and AI tools to simplify complex financial data, with the "Xina AI Assistant" capable of summarizing lengthy reports into concise insights, enhancing user efficiency [4] - The intelligent investment feature allows for automatic adjustments in investment amounts based on market conditions, helping investors capitalize on low market opportunities [4] Ecosystem Integration - Sina Finance APP offers a seamless experience from information gathering to trading, allowing users to open accounts and execute trades directly within the app, collaborating with 60 fund companies and offering over 3,000 fund products [5] - The app provides a content matrix that includes real-time news, in-depth reports, and live interpretations, with an average news release time 15 minutes ahead of competitors [5] User Experience - The app features a modular and personalized design, enabling users to customize their interface according to their investment preferences, enhancing usability [6] - An intelligent alert system monitors various market conditions with over 98% accuracy, ensuring users are informed of significant market changes [7] - The integration of social media resources allows users to engage in discussions and access diverse analytical perspectives while checking fund values [7] Conclusion - The app not only presents daily net value changes but also provides comprehensive insights into fund managers' investment styles and portfolio distributions, enabling users to develop a well-rounded understanding of their investments [8]

Core Viewpoint - In the digital age, investors face the challenge of selecting the right financial app for investment decisions, with many professionals favoring the traditional yet robust Sina Finance APP as a reliable foundation for their investment systems [1] Group 1: Importance of Data - Ordinary investors often focus solely on unit net value, while professional decision-making requires a deeper understanding of the underlying data that supports this figure [2] - Many apps simplify the investment process with features like "one-click follow" and community trading, which can lead to overlooking critical data [2] Group 2: Features of Sina Finance APP - The app provides extensive and accurate data, including timely net value updates and comprehensive fund profiles, which include holdings, industry allocation, and key risk-return metrics [3] - Users can access detailed fund manager profiles, including their history, performance, and investment philosophy, which are essential for evaluating their capabilities [3] Group 3: Investment Decision Tools - The app allows users to create custom portfolios and analyze returns, providing insights into performance metrics like Sharpe ratio and daily returns [4] - It aggregates research reports from various institutions, helping users understand market consensus and identify investment opportunities [4] Group 4: Information Ecosystem - Sina Finance APP creates a closed-loop ecosystem of "24/7 global news + in-depth data + professional tools," enabling users to understand the reasons behind market movements rather than just observing them [5] Group 5: Unique Value Proposition - Compared to platforms like Ant Wealth and Tian Tian Fund, which focus on transaction ease, Sina Finance APP excels in data depth and professional tools [7] - Unlike purely professional terminals like Wind and Choice, Sina Finance APP offers a balance of data quality, tool practicality, and accessibility for ordinary investors [7] Conclusion - The app serves as an essential tool for investors looking to advance from basic fund observation to a more sophisticated investment strategy, providing comprehensive resources and tools for building a personal investment framework [8]

蚂蚁财富平台也提醒，当前金价高位波动，投资者应根据风险承受能力购买黄金，同时注意分散配置， 避免单一重仓黄金，建议通过定投等方式换取黄金的长期回报价值。（第一财经记者 齐琦） 10月14日盘中，工商银行积存金在蚂蚁财富平台上曾短暂出现"不可开户"的情况，随后已完全恢复正 常。 据蚂蚁财富相关负责人回应第一财经记者，伴随国际金价突破4120美元/盎司创下新高，投资者购金热 情高涨，10月14日，超百万人上支付宝访问"积存金"页面。 ...

10月14日盘中，工商银行积存金在蚂蚁财富平台上曾短暂出现"不可开户"的情况，随后已完全恢复正 常。 据蚂蚁财富相关负责人回应第一财经记者，伴随国际金价突破4120美元/盎司创下新高，投资者购金 热情高涨，10月14日，超百万人上支付宝访问"积存金"页面。 蚂蚁财富平台也提醒，当前金价高位波动，投资者应根据风险承受能力购买黄金，同时注意分散配置， 避免单一重仓黄金，建议通过定投等方式换取黄金的长期回报价值。（第一财经记者 齐琦） ...

Core Viewpoint - The acquisition of Yao Cai Securities by Ant Group has been approved by the Hong Kong Securities and Futures Commission, leading to a significant stock price increase of 34.52% for Yao Cai Securities despite a decline in the Hang Seng Index [1][2]. Group 1: Acquisition Details - On April 25, Yao Cai Securities announced that Shanghai Yunjin, a subsidiary of Ant Group, made a tender offer to acquire Yao Cai Securities at a price of HKD 3.28 per share, totaling approximately HKD 28.14 billion for about 50.55% of the shares [2]. - The acquisition is pending approval from the National Development and Reform Commission of China, with Yao Cai Securities actively communicating with the commission [3]. Group 2: Company Background and Services - Yao Cai Securities was founded in 1995 by Ye Maolin and offers services including stock trading, margin financing, securities custody, futures and options trading, and leveraged forex trading [4]. - The company is known for its low commission rates, having significantly reduced its commission from 0.25% to 0.05% after the government abolished the minimum commission system in 2003 [4]. Group 3: Future Prospects - The acquisition is expected to drive future business growth for Yao Cai Securities, facilitating its digital transformation and enhancing its operational capabilities [4]. - Ant Group expresses confidence in the long-term economic development of mainland China and Hong Kong, believing that the integration of technology and wealth management will create substantial market opportunities [4].

Core Insights - The article emphasizes the importance of "responsible innovation" in digital platforms, highlighting the need for these platforms to balance technological advancement with compliance, social responsibility, and ethical considerations [1][3][7] Group 1: Collaboration between Financial Institutions and Platform Enterprises - Financial institutions are increasingly collaborating with platform enterprises across various sectors, including e-commerce, social media, local services, and fintech [2] - Key areas of collaboration include payment and settlement platforms, credit and risk control platforms, wealth management platforms, supply chain finance platforms, and open platforms for digital transformation [2] Group 2: Definition and Importance of Responsible Innovation - "Responsible innovation" is defined as a comprehensive value system that includes compliance, social responsibility, and technology ethics, aiming to create economic, social, and ethical value [3] - The responsibility of digital platforms involves engaging multiple stakeholders in the development, application, and dissemination of technology [3] Group 3: Support from Platform Enterprises to Financial Institutions - Platform enterprises can provide support to financial institutions through technological empowerment, ecological collaboration, and institutional co-construction [4] - They can enhance risk control, optimize product design, and facilitate digital transformation by leveraging advanced technologies like big data, AI, and blockchain [4] Group 4: Framework for Social Responsibility - Platform enterprises should integrate social responsibility into their technology development, business models, and ecosystems, addressing issues like consumer rights, data security, and fair competition [5][6] - A responsible technology foundation includes building stable digital infrastructure, transparent algorithms, and secure data management systems [6] Group 5: Recommendations for Responsible Innovation - Companies are encouraged to balance technological progress with compliance, social responsibility, and ethical standards, ensuring that innovation does not compromise these values [7] - The article suggests a multi-dimensional approach to promote responsible innovation, including enhancing institutional frameworks and fostering international cooperation [7]