Core Viewpoint - The recent reports from various financial institutions indicate a strong confidence in the strategic transformation of HuTongDa Network, particularly its "AI + Smart Supply Chain" model, leading to a consensus "Buy" rating with target prices reaching up to 23 HKD [1][2]. Group 1: Strategic Transformation and Performance - HuTongDa's profitability metrics have reached historical highs, reflecting the effectiveness of its strategic transformation initiated in the second half of 2024, with continuous optimization in operational quality [1]. - The collaboration with Alibaba Cloud has significantly enhanced HuTongDa's AI + SaaS business, providing robust technical capabilities and computational power, which supports the development of the "Small Store Big Model Intelligent Agent" [1]. - The company is upgrading its service model towards "SaaS Software + AI Agent + Content Operation," while also enhancing its supply chain capabilities through self-owned products, private brands, and partnerships with leading brands [1]. Group 2: Market Position and Growth Prospects - HuTongDa is recognized as a leader in the AI + e-commerce sector within the underserved market, having established a competitive advantage in this space [1]. - The core business of HuTongDa is experiencing steady growth, with significant improvements in profitability indicators such as gross margin, confirming the initial success of its transformation [1]. - The AI + SaaS segment is emerging as a second growth engine, supporting a long-term optimistic outlook for HuTongDa's profitability growth [1][2].
多家境外券商认可：AI+驱动新增长 汇通达网络(09878)战略升级成效显著、盈利质量持续提升