Investment Advisory Industry's "AI Moment": How Jiufang Zhitou (09636.HK) is Using Technology to Redefine Service Boundaries
2025 is widely regarded within the industry as the inaugural year for the deep integration of large AI models in the financial sector. From private deployment to the large-scale application of intelligent investment advisor agents, technology is accelerating its move to the business front lines, ushering in profound transformation for the investment advisory industry. As the "first stock in securities investment education", $JF SMARTINVEST(09636.HK) has achieved high growth through its strategy of "comprehensive product system + AI full-scenario empowerment". Full-year revenue reached 3.43 billion yuan, a year-on-year increase of 48.7%; net profit attributable to the parent company was 922 million yuan, a significant year-on-year surge of 238.5%, with a dividend payout ratio of 40%. The company is continuously reshaping the boundaries of investment advisory services with technological power.
AI Drives High Performance Growth, Demonstrating Market Confidence
In the past, the investment advisory industry heavily relied on "mass manpower tactics", long facing the structural contradiction of balancing service standardization with personalization, and professional thresholds with user experience. Manpower limitations led to a severe mismatch between service supply and user demand. In 2025, AI has been systematically integrated into all aspects of brokerage wealth management, including client outreach, advisory decision-making, trade execution, and operational management. It enables scalable services at a lower marginal cost while enhancing personalized experiences through user profiling and agent technology. The policy front has also sent positive signals. In November 2025, Guangzhou released the nation's first local document on the investment advisory industry, "Several Measures to Vigorously Promote the Development of AI Investment Advisors". The legislative research group for the "Securities and Futures Investment Consulting Supervision and Administration Regulations" has also initiated discussions on standardizing emerging businesses like AI-powered Q&A. The industry is moving from extensive growth towards a high-quality development stage characterized by "standardization + technologicalization".
Jiufang Zhitou Holdings has precisely seized this window of transformation—total order value for the year was approximately 3.955 billion yuan, up 12.8% year-on-year; contract liability balance at period-end was about 1.530 billion yuan, mainly consisting of subscription revenue not yet recognized, which is expected to be converted into earnings progressively in 2026.
The company has conducted multiple share buybacks, demonstrating firm confidence. Mainstream institutions have also given positive endorsements. CICC released a research report, maintaining an "Outperform Industry" rating with a target price of HKD 45.
Product Matrix Continues to Enrich, Multi-dimensional Synergy Builds New Growth Engine
On the technological front, Jiufang Zhitou continues to deepen its dual-drive strategy of "Technology + Investment Research", further enriching its product matrix to form a full-scenario service system covering high-end advisory, lightweight tools, smart hardware, one-stop platforms, and innovative businesses.
VIP products "Gudao Linghang" and "Super Investor" focus on AI empowerment, quantitative tool upgrades, full-cycle investment education, and exclusive services. During the period, seven new quantitative tools including "Lingxi Qinlong" and "Quant Master" were added, and a 7×24-hour AI customer service was launched. Live streaming sessions increased by 36% year-on-year, with average daily total UV exceeding 100,000. The AI stock machine, integrating "Hardware + AI + Content + Service" in four dimensions, contributed revenue of 240 million yuan in 2025, with net sales exceeding 75,000 units, maintaining good user engagement time and stickiness. Jiuyao Gu transforms professional investment research capabilities into standardized tools, having cumulatively launched over 80 lightweight products covering the entire investment process from stock selection, timing, risk control, analysis to knowledge learning, building a low-threshold, standardized "Tool + Investment Education" matrix. Furthermore, the Jiufang Zhitou APP has completed its strategic transformation, integrating private domain operations, product hosting, user operations, and value conversion. It has achieved trading closed-loops with multiple brokerages and integrated market data for futures, funds, and other categories. Monthly active users grew over 40% year-on-year, with a 30-day retention rate exceeding 50%. The platform has initially formed a virtuous cycle of "content cultivates users, trust promotes conversion".
During the period, the company added two major business segments: "Decision Master" and "Star Service". Among them, "Decision Master" strategically fills gaps to improve the mid-tier product system, relying on three major investment research modules: AI+ themes, value investing, and quantitative analysis, using "three-dimensional analysis" to assist individual investors in making independent decisions. "Star Service" collaborates with several leading and high-quality brokerages, streamlining the account opening and trading process to create a complete "Tool - Service - Trading" ecosystem closed-loop. During the reporting period, Star Service user scale exceeded 50,000.
Deepening AI Empowerment, Accelerating Overseas Expansion
In 2025, "AI" has become the core theme in the annual reports of mainstream financial information service companies, marking the industry's entry into the "AI Decisive" stage. Jiufang Zhitou's "Jiufang Lingxi" was selected for TMTPost's 2025 Innovation Scene "Annual Top AI Applications List", signifying the leap of intelligent investment advisors from single-point functions to process automation. CICC pointed out in its research report that Jiufang Zhitou has completed the acquisition of a Hong Kong, China brokerage and plans to achieve "model globalization". Simultaneously, it is advancing license upgrades and strategic investment layouts, improving its presence in areas like digital assets to explore new future growth engines. Of course, the industry still faces challenges such as pending regulatory details and the long cycle for building user trust. Only by solving pain points with technology and winning trust with professionalism can one stand firm in the AI era.
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