Haitong Securities released a research report stating that it covered JF SMARTINVEST (09636) for the first time and gave it a “superior to the market” rating. The reasonable stock price range was HK$36.58-39.19. The bank believes that the company empowers stock investment services with an emerging financial media operating model, targets high customer unit price groups, has an excellent business model, and has a first-mover advantage in the market. Recently, along with the recovery of the capital market, active securities trading, and an increase in demand for C-side stock investment services, it is expected to provide a strong impetus for the company's business performance.