Ge Long Hui·2025-12-17 08:10Core Viewpoint - Zhongyuan Securities report indicates that Unisplendour Corporation is actively acquiring the remaining equity of H3C, with overall fundamentals improving [1] Group 1: Acquisition and Ownership - The company will initiate a new round of equity acquisition for H3C, and after this acquisition, foreign investment will no longer hold shares in H3C [1] - As the company's ownership percentage in H3C increases, the contribution of H3C to the company's performance is continuously growing [1] Group 2: Growth Drivers - H3C's current growth drivers mainly come from domestic government and enterprise business as well as international business [1] Group 3: Financial Strategy - The company began the process of listing on the Hong Kong Stock Exchange in May, and successful listing is expected to significantly alleviate the financial cost pressure brought by the acquisition of H3C [1] - The company's server business and overseas operations are accelerating growth, while it is increasing its stake in H3C and conducting financing in Hong Kong stocks, indicating a positive overall development trend [1] Group 4: Investment Rating - The company is given an "Accumulate" investment rating [1]