量化派(2685.HK)跌超8%，最低触及13.81港元，再度刷新历史新低水平。自3月10日盘中创下历史高点(43.36港元)以来，量化派已累计下跌超68%。 消息面上，在3月13日金融监管总局发文，点名以“购物分期、回收套现”变相放贷的违规模式，与量化派旗下“羊小咩”商城的运营路径高度重合。此外，量化派公布的2025年业绩显示，营收同比增长4.2%至10.35亿元，净利润同比大增32.6%至1.95亿元，经营现金流同比下滑近50%。分析认为，相比此前高速扩张阶段，当前收入增速已经明显放缓，而利润的提升更多来自运营效率、AI推荐优化以及营销成本控制，引发投资者对于未来增长能见度的担忧。(格隆汇)
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