Core Viewpoint - Multiple institutions, including CITIC Construction Securities and Northeast Securities, have recently issued research reports on Huitongda Network (09878), giving it a "buy" rating, with Northeast Securities setting a target price of HKD 20.08, indicating nearly 40% upside potential from the closing price of HKD 14.55 on the report release date [1] Group 1: Company Transformation and Growth Potential - Huitongda has transitioned from a "platform service provider" to an "AI + SaaS platform service provider" after over a decade of deepening its presence in lower-tier markets [1] - The company is expected to restore revenue growth and enhance profitability through business optimization and AI empowerment, supported by ample cash reserves for acquiring quality assets [1] - The report highlights Huitongda's active promotion of H-share full circulation, which is anticipated to increase the total number of H-shares to 530 million, significantly boosting market capitalization [1] Group 2: AI and Business Ecosystem - CITIC Securities emphasizes Huitongda's impressive AI performance, which is enhancing customer quality [1] - The AI + SaaS products are set to enter the commercialization phase in May 2025, with member stores experiencing an average efficiency improvement of over 30% and inventory turnover reduction of 15% to 20% [1] - The integration of AI empowerment, supply chain upgrades, and diversified channel expansion is expected to create a sustainable business ecosystem for Huitongda's future [1][2] Group 3: Strategic Direction and Profitability - The research reports indicate that Huitongda's service business is likely to achieve high growth, becoming a primary growth engine for the company as AI products continue to evolve [2] - The strategic transformation of Huitongda's supply chain transaction business is recognized for its positive outcomes and the resulting enhancement in profitability [2]