JF SMARTINVEST (09636) rose over 6%. As of the time of writing, the stock was up 6.57%, trading at HK$63.25, with a turnover of HK$362 million. On the news front, on January 6, JF SMARTINVEST announced the completion of the acquisition of all equity and core business systems of JFFinancial (formerly Yintech Financial). Following the acquisition, JF SMARTINVEST will hold the entire equity of JFFinancial and its key subsidiaries, Founder Securities and Founder Capital. Xiangcai Securities believes that, as a third-party investment advisory institution, the company consistently adheres to its "Technology + Investment Research" strategy, having established a differentiated competitive advantage through its mature investment research system, refined MCN traffic operations, and high-quality content services. The improvement of overseas licenses will help the company leverage its proven model to empower overseas business, thereby diversifying its revenue streams. Opencapital Securities pointed out that the company has built a multi-dimensional product matrix, a "1+N" investment research system, and an integrated three-pronged traffic operation system, emphasizing R&D investment and exploring comprehensive AI integration. The brokerage believes the company's scale effects are beginning to show, with its high-beta attributes benefiting from an active capital market in the short term; in the medium to long term, its strategies of "small-order customization" and "platformization" are expected to enhance user stickiness, learning device sales are performing well, and the acquisition of a Hong Kong brokerage expands its international business footprint.