company profile

Goldpebble Research Pte. Ltd.) is a Chinese fintech company founded in 2012 and headquartered in Shanghai (specific address not disclosed). Founded by senior financial experts such as Yifeng Mao (CFA, Head of Research), the company focuses on providing investment research, alternative data analysis, asset management, and blockchain application services through a quantamental approach. Jinshi Research is one of the first companies in China to adopt a quantitative and fundamental strategy, processing massive amounts of data to provide in-depth insights to global institutional investors. As of June 2025, the company manages China's largest live event fund through its Chinese subsidiary and has published one of the world's first fundamental analysis reports in the field of Bitcoin research. Jinshi Research has about 90 employees, including 70 engineers and 20 analysts, interacts with the community through LinkedIn (about 224 followers), X (@goldpebble), is active in the Chinese and global blockchain communities, and participates in events such as Shanghai Blockchain Week. The company is a member of the China Asset Management Association (AMAC), but does not publicly disclose its registered capital, shareholding structure, or specific advisory team information.

regulatory information

Jinshi Research's China asset management subsidiary is regulated by the China Asset Management Association (AMAC) and may be subject to the requirements of the Securities Investment Fund Law and the Anti-Money Laundering Law. However, public information does not disclose specific regulatory numbers or official filing information, and compliance transparency is limited. Jinshi Research's investment research and blockchain services may involve regulatory frameworks in Singapore and Hong Kong, but it is not clear whether it holds relevant financial licenses. The company adopts a non-custodial model, where customers manage their crypto assets through external platforms, reducing compliance risks. In 2024, Jinshi Research did not clearly respond to regulatory reviews of unregistered investment platforms by the China Securities Regulatory Commission (CSRC) or the Monetary Authority of Singapore (MAS), which may pose compliance risks. The platform may comply with the EU's General Data Protection Regulation (GDPR) and China's Personal Information Protection Law (PIPL) without disclosing specific details of know-your-customer (KYC) or anti-money laundering (AML) processes.

Trading Products

Goldstone Research does not directly offer traditional financial trading products (such as forex, stocks, or CFDs) but supports cryptocurrencies and alternative investments through its research and asset management services. Core trading categories include:

1. Cryptocurrency Investment: Provides research and investment strategies for Bitcoin and other cryptocurrencies through a quantitative approach, launched in 2013.

2. Alternative Investment Funds: Manages live event funds and other alternative portfolios, launched in 2012 to cover the Chinese market.

As of 2024, the specific trading volume or AUM is not publicly disclosed, limiting the assessment of its market influence.

Trading Software

Jinshi Research does not disclose its self-developed trading software, but supports investment research and data analysis through a proprietary system. Core features include:

1. GP Core system: integrates Taobao, JD.com and China credit transaction data, supports alternative data analysis, and was launched in 2013.

2. GP HIDEN system: Processes big data, provides both quantity and insight, and was launched in 2012.

3. GP OS system: Supports portfolio management and market trend analysis, implemented in 2012.

4. API interface: Connect market data and payment gateway through REST API, support research data output, deployed in 2012.

The platform uses Python, C++, and JavaScript technologies to support high-throughput data processing, and the user interface is mainly in English and Chinese. In 2024, it was not disclosed whether it would optimize the system or launch an independent trading platform. Specific API documentation or technical details are not publicly disclosed.

Deposit and withdrawal methods

Jinshi Research does not directly handle client funds, and clients manage their investments through external cryptocurrency exchanges or bank accounts. Deposit and withdrawal processes may include:

1. Deposits: Clients purchase cryptocurrencies through exchanges (e.g., Binance, Huobi) or invest in alternative funds through bank transfers, enabled in 2012.

2. Withdrawals: Clients can withdraw their investment income to bank accounts or cryptocurrency wallets, with processing times depending on external platforms, implemented in 2012.

3. Fees: Investment services may involve management fees (specific rates not disclosed), and cryptocurrency transfers involve gas fees, claimed in 2012.

Users manage their fund balances through external platforms and need to complete KYC verification to connect their accounts. Specific limits or supported payment methods are not publicly disclosed.

Customer Support

Goldstone Research provides support to institutional investors and high-net-worth individuals, primarily through dedicated account managers and social media channels, including:

1. Online Support: Assist with research consulting, investment strategy, and data analysis via email and LinkedIn (@goldpebble-research), established in 2012.

2. Help Center: Provides research report samples and investment tutorials through the official website, launched in 2012.

3. Community Engagement: Sharing research insights through LinkedIn (approximately 224 followers, as of June 2025), with low activity in 2024.

Jinshi Research has participated in activities such as Shanghai Blockchain Week (2018) to promote both quantity and cost research. Customer feedback suggests that the research report is highly professional, but more public resources are needed to support new customers. Specific response times or satisfaction data were not disclosed.

Core Business and Services

The core business of Jinshi Research is to provide investment research, alternative data analysis, asset management and blockchain application development through a cost-to-volume approach. Key services include:

1. Quantitative and cost-balanced research: Combining quantitative analysis and fundamental research, covering Chinese listed companies (such as YY, MOMO), macroeconomics and cryptocurrencies, launched in 2012, Published reports include New Oriental Education (September 2012) and Sina Weibo (February 2013).

2. Alternative Data Analysis: Processes Taobao, JD.com, and credit transaction data through proprietary systems such as GP Core to provide investment insights, launched in 2013.

3. Asset Management: Manages China's largest live events fund and Shanghai New Culture Fund, launched in 2015, covering alternative investments.

4. Blockchain applications: Develop cryptocurrency investment strategies and blockchain solutions, and release the world's earliest Bitcoin fundamental research report in 2013.

Its services include global mutual funds, hedge funds, corporate executives, and family offices, with the goal of providing investment advantages through data-driven decision-making. Jinshi Research was founded in 2012 and acquired a Chinese asset management company in 2015. As of 2024, the specific customer size or AUM is not disclosed.

Technical Infrastructure

Jinshi Research builds an efficient investment research platform based on proprietary big data processing systems and blockchain technology. Key technical features include:

1. GP Core system: Based on Python and C++, integrating e-commerce and credit transaction data, supporting alternative data analysis, deployed in 2013.

2. GP HIDEN System: Based on distributed data mining, processing non-traditional data sources, enabled in 2012.

3. GP OS system: Based on cloud computing, supporting portfolio management and trend analysis, implemented in 2012.

4. GP Psyc System: Analyzes market sentiment and behavioral data, launched in 2012.

5. API interface: Connects market data, blockchain networks, and payment gateways through REST APIs, deployed in 2012.

6. Security Protocols: AES-256 encryption, SSL protocol (HTTPS), and distributed storage, enabled in 2012 to protect data security.

Goldstone Research offers 99.9% availability through AWS or similar cloud services, with a distributed file system that optimizes data access. In 2024, it was not disclosed whether the system was optimized or third-party security audits were conducted.

Compliance and Risk Control System

Jinshi Research's China Asset Management subsidiary is regulated by the China Asset Management Association (AMAC) and is subject to compliance with the Securities Investment Fund Law and the Anti-Money Laundering Law. Core risk control measures include:

1. KYC/AML verification: Customers are required to submit proof of identity to prevent money laundering and fraud, implemented in 2012.

2. Data security: Encrypted storage of research data through a proprietary system, enabled in 2012.

3. Compliance Review: Regularly review research reports and investment strategies to ensure compliance with regulatory requirements, deployed in 2012.

Jinshi Research did not disclose specific regulatory numbers or official filing information. In 2024, there may be compliance risks due to the failure to clearly respond to the CSRC's regulatory review of unregistered investment platforms. Regarding third-party compliance audits or detailed KYC/AML processes, public information is not disclosed.

Market Positioning and Competitive Advantage

Jinshi Research is positioned in the field of investment research and alternative investments in the global and Chinese markets, with the goal of providing data-driven insights to institutional investors through a volume-to-cost approach. Competitive advantages include:

1. Quantitative approach: China was the first to adopt the quantitative-cost strategy, launched in 2012, covering stocks, macro and cryptocurrencies.

2. Alternative Data Expertise: Processes e-commerce and credit data through systems such as GP Core, implemented in 2013, with better accuracy than traditional analysis.

3. Early blockchain research: Released a Bitcoin fundamental report in 2013, leading Wall Street institutions.

4. Strategic Collaboration: Partnered with Fortress Investment Group to enhance alternative investment capabilities in 2015.

Compared with competitors (such as Bloomberg and FactSet), Jinshi Research has a differentiated advantage in terms of both quantitative approach and alternative data expertise, but insufficient information disclosure may limit competitiveness.

Customer Support and Empowerment

Jinshi Research empowers institutional investors and high-net-worth individuals with dedicated support and research resources, including:

1. Dedicated Support: Provides research consulting and investment strategy support through account managers, established in 2012.

2. Research Resources: Reports and data insights are available through the official website and proprietary system, launched in 2012.

3. Community activities: Participated in Shanghai Blockchain Week in 2018, taking into account both volume and research, and the activity in 2024 was low.

Social Responsibility and ESG

Jinshi Research has limited social responsibility and environmental, social and governance (ESG) disclosures. The platform promotes market transparency through data-driven research and indirectly supports financial market efficiency, and has been implemented since 2012. Jinshi Research may employ energy-efficient cloud computing infrastructure (such as AWS) but does not disclose specific carbon footprints or sustainability plans. Regarding specific ESG initiatives, there is insufficient public information.

Strategic Cooperation Ecological

Gold Research Strategic collaborations include:

1. Fortress Investment Group: Partnered in 2015 to enhance alternative investment capabilities.

2. Chinese subsidiary: Acquired an asset management company in 2015 and obtained AMAC license.

Goldstone Research has limited financial disclosures. Revenue sources may include:

1. Research service fee: Provide institutional investors with a volume-cost balance report, implemented in 2012.

2. Asset management fee: Manage the Live Events Fund and the New Culture Fund, which was launched in 2015.

3. Blockchain Consulting: Provides technical support for cryptocurrency projects, launched in 2013.

Developmental Milestones

development milestones in Jinshi research are based on publicly available information:

> 2012: Jinshi Research was established and released the New Oriental Education Volume and Cost Balance Report.

1. 2013: Released a Bitcoin fundamental research report and integrated e-commerce data into the GP Core system.

2. February 2013: Released a Sina Weibo research report to reveal user growth trends.

3. 2015: Acquired a Chinese asset management company and obtained AMAC license.

4. 2015: Partnered with Fortress Investment Group to manage the New Culture Fund.

Future Roadmap

The Goldstone Research Program is driven by:

>Expand research areas: Cover more global markets and optimize the method of balancing volume and cost.

• Enhancement Technology: Upgrade systems like GP Core to improve data processing capabilities.

• Blockchain Innovation: Developing new cryptocurrency investment strategies and blockchain applications.

• Market Expansion: Plans to enter the Asian and North American markets, with possible implementation starting in 2024.