"我们辛苦种了12年的'桃树'，每年投入大量成本才有了今天的结果，但有人趁你不注意，把'桃子'偷走 拿去低价卖了。你说气不气？"谈起与讯兔科技（上海）有限公司（下称"讯兔科技"）长达两年多的诉 讼时，深圳进门财经科技股份有限公司（下称"进门"）创始人程建辉难掩"被偷桃"的愤怒。 他口中的"桃树"，是公司耗时12年、服务全国74家券商研究所建立起来的机构AI（人工智能）投研工作 台；而"偷桃"者，正是那些超越白名单机制、未经券商等许可便把会议数据向不特定公众发布的公司。 近日，上海市浦东新区人民法院的一纸判决，为这场持续超两年的纠纷落下了第一槌。 法院在一审中认为，讯兔科技获取并不当使用进门平台线上会议数据内容的行为，既未经权利人许可、 又超越白名单机制。讯兔科技向不特定公众提供特定范围数据信息，违反诚信原则及商业道德，扰乱市 场竞争秩序，损害进门的合法竞争利益，构成不正当竞争。 程建辉表示，希望AI工具是用于解决行业真正的"痛点"，比如提升参会效率，而不是制造新的"堵 点"——传播非公开会议纪要，影响市场生态。 就上述与进门发生的法律纠纷，《国际金融报》记者尝试通过多种途径联系讯兔科技，但截至发稿，讯 兔科技 ...

Core Insights - The report highlights a shift in the financial research landscape from "universal models" to a "matrix of specialized agents" empowered by AI, which aims to reduce time-consuming and repetitive tasks traditionally reliant on analysts' complex skills [2] - AI tools like AlphaEngine can quickly construct DCF models and provide target price ranges for companies, significantly enhancing decision-making support [2][14] - Compared to general AI models like DeepSeek, AlphaEngine and Alpha agents focus on deep optimization for vertical research scenarios, emphasizing task automation and industry chain integration [2] - The integration of AI in asset allocation is expected to yield sustainable excess returns, necessitating the combination of AI outputs with human expert qualitative judgments [2] AlphaEngine Application Cases - AlphaEngine can efficiently assist in financial valuation modeling by processing extensive data and generating structured outputs, including target price ranges based on various scenarios [14][21] - The tool's ability to reference reliable research reports enhances the credibility of its outputs, effectively mitigating the "AI hallucination" issue [14][23] Alpha派 Application Cases - Alpha派 serves as an intelligent investment research app that can generate performance reviews for specific companies, allowing users to customize the analysis style and focus points [66] - The platform's ability to provide structured outputs and reference relevant reports aids in data verification and reduces the risk of misinformation [69] Comparison of AlphaEngine and Alpha派 - AlphaEngine is characterized by its detailed and foundational approach, providing comprehensive background and framework comparisons, making it suitable for in-depth research [93] - Alpha派 is designed for efficiency and clarity, offering concise insights and actionable strategies, making it ideal for decision-makers needing quick access to core viewpoints [93]

Core Insights - The article discusses the challenges and opportunities in the application of AI in the financial industry, highlighting the contrast between consumer (C-end) and enterprise (B-end) markets [3][4] - The company XunTu Technology has successfully leveraged AI to create a financial research assistant, Alpha Pai, which has gained significant traction among institutional investors [4][5] Group 1: AI Market Analysis - A study by Louisiana State University found that 58.3% of user reviews for C-end AI applications were negative, indicating a struggle to convert AI technology into measurable value [3] - In contrast, the B-end market for AI applications, particularly in finance, is clearer due to the industry's focus on efficiency and ROI [3][4] - The report by Tencent Research Institute and PwC emphasizes that the financial industry's essence lies in information processing and risk pricing, aligning well with the capabilities of large AI models [3][4] Group 2: Company Overview - XunTu Technology recently completed over 100 million RMB in Pre-A financing, led by prominent venture capital firms [4] - Alpha Pai has become widely used among institutional investors in Lujiazui, with over 80% of online meetings in the secondary market featuring its AI meeting assistant [4][5] - The company has achieved the highest user stickiness among global financial AI products, significantly outpacing competitors [13] Group 3: Product Development and User Engagement - The founder of XunTu, Li Luodan, observed a significant increase in online meetings during the pandemic, leading to a demand for efficient meeting management solutions [5][6] - The company conducted extensive interviews with fund managers to identify user needs, which informed the development of Alpha Pai [6][9] - XunTu's approach emphasizes solving user pain points through practical methods, such as building specialized financial vocabularies and implementing a traceability mechanism in their products [8][9] Group 4: Future Vision and Market Position - XunTu aims to evolve Alpha Pai from a task-oriented assistant to a business-oriented assistant, integrating deeper into the investment workflow [14][18] - The company envisions a future where AI can handle complex tasks, enhancing decision-making capabilities for financial analysts [19][20] - XunTu is positioned to expand internationally, aiming to establish itself as a leading independent financial information platform amid the global market's structural changes [20][21]

Core Insights - XunTu Technology has completed over 100 million RMB in Pre-A round financing, led by Sequoia China and GL Ventures, with participation from Zhongding Capital and Jiacheng Capital [2] - Founded by 90s entrepreneur Li Luodan in 2021, XunTu Technology has pioneered a new path in AI-enabled investment research, with its core product AlphaPai addressing key pain points in the industry [3] - AlphaPai has served over 70,000 investment research personnel across more than 6,000 institutions, focusing on enhancing productivity and value creation in investment research [3] Company Vision and Strategy - Li Luodan emphasizes that XunTu Technology aims to equip financial institutions with advanced research tools necessary for global market competition, positioning itself as a new type of infrastructure in the financial investment sector [4] - The recent financing will accelerate the construction of AI-driven "financial new infrastructure" and support global expansion, aligning with official pilot projects aimed at digital transformation in the industry [4] - GL Ventures highlights that XunTu Technology's AlphaPai is a phenomenal vertical application that transforms AI into a productivity accelerator for investment researchers, contributing to a compliant, efficient, and interconnected industry ecosystem [4]

中证报中证网讯（王珞）10月22日，高瓴创投官方微信公众号消息，金融AI赛道的先行者与领跑者讯 兔科技宣布完成超1亿元人民币的Pre-A轮融资。本轮融资由高瓴创投（GLVentures）和红杉中国联合领 投，钟鼎资本和嘉程资本跟投。 据了解，本轮融资将用于加速构建AI驱动的金融"新基建"，并推动讯兔科技全球化布局。多家知名基金 的联合投资，为讯兔科技的长远发展奠定了坚实的基础。 根据讯兔科技官网介绍，公司成立于2021年，为AI驱动的金融数据与生产力服务商，致力通过AI Agent 大幅提升全球机构投资者的工作效率、提高资本市场的信息有效性，公司创始人兼CEO李罗丹为"90 后"。"讯兔科技是'冬天的孩子'，公司连续成功穿越了资本寒冬与行业调整，开创了AI赋能投资研究的 全新路径，展现了极强的生命力与创造力。"李罗丹表示。 据公司介绍，作为行业内第一个将AI技术成功落地于投资研究场景的应用，讯兔科技的核心产品Alpha 派从"会议"这一核心痛点切入，凭借AI纪要助理迅速赢得了用户青睐。推理模型发布后，公司加大创新 投入，推出了包括"公司一页纸、业绩点评、调研大纲"在内的AI Agent（人工智能助理）矩阵，以 ...

Core Viewpoint - The article discusses a legal ruling in favor of Jinmen, a leading AI investment research platform, against XunTu Technology for unfair competition, emphasizing the importance of compliance and ethical standards in the securities industry [2][5][10]. Group 1: Legal Ruling Details - The Shanghai Pudong New District People's Court ordered XunTu Technology to immediately cease its unfair competition practices and remove all unauthorized online roadshow meeting data from its platforms [5][6]. - XunTu Technology is required to compensate Jinmen for economic losses of 4 million yuan and reasonable expenses of 100,000 yuan within ten days of the ruling [5][6]. - The court mandated XunTu to publish a statement on its website and app to mitigate the negative impact caused by its actions, with the statement subject to court review [5][6]. Group 2: Court's Key Findings - The court highlighted that all online roadshow meeting data, including audio, transcripts, and AI-generated summaries, must be removed as they were shared without permission [6][10]. - The ruling emphasized that unauthorized copying and public sharing of online roadshow content violate compliance and ethical standards in the securities industry [7][9]. - The court noted that the use of AI technology does not justify unfair competition, as the tools used do not affect the legality of competitive behavior [11][13]. Group 3: Industry Implications - Jinmen's adherence to compliance and ethical standards has established its market position, which is crucial for maintaining competitive advantages in the securities industry [21]. - The article warns other industry players against engaging in similar unfair practices, urging them to respect intellectual property and uphold fair competition [17][20]. - The court's decision serves as a reminder that the duration and extent of infringement will be considered in assessing the severity of competitive misconduct [18][19].

Core Viewpoint - The training conducted by Zhang Ziming emphasized the integration of AI technologies into the fund industry, highlighting the importance of AI in enhancing operational efficiency and decision-making processes. Group 1: AI Development and Application - Zhang Ziming outlined the evolution of AI technology from its early stages to its current applications, focusing on the distinction between generative AI, which emphasizes content creation, and decision-making AI, which focuses on optimizing decisions [3]. - The training included a detailed explanation of structured prompt engineering frameworks such as CO-STAR, TCREI, and CRISPE, demonstrating how to generate high-quality marketing content for funds using the RBTR method [3]. Group 2: Fund Marketing Techniques - Practical techniques for generating marketing content, images, and videos using AI were showcased, with participants experiencing the entire process from market analysis to complete marketing copy generation [3]. - Zhang Ziming demonstrated the use of DeepSeek to analyze fund product selling points and quickly generate attractive marketing content related to trending themes like carbon neutrality [3]. Group 3: Investment Research Empowerment - The training introduced professional AI tools like Reportify and Alpha派, showcasing their applications in data collection, information organization, and visual analysis, significantly enhancing the efficiency of investment research personnel [4]. - Zhang Ziming emphasized that AI is not meant to replace investment researchers but to free them from tedious information processing, allowing them to focus on value judgment and decision-making [4]. Group 4: Future Directions of AI in Business - The Unforeseen AI Research Institute aims to assist more enterprises in achieving "AI+" strategic transformation, maintaining competitive advantages in the era of intelligence through dual-driven strategies of "AI strategy + technology empowerment" [6].