Ge Long Hui·2025-12-29 01:24Core Viewpoint - Cathay Securities has initiated coverage on CloudWalk Technology, assigning a "Buy" rating with a target price of HKD 451.33, highlighting the vast potential for AI application deployment in the market [1] Company Summary - CloudWalk Technology is recognized as a veteran player in the AI voice sector, with significant growth prospects in AI applications [1] - The company is projected to achieve revenues of RMB 1.268 billion, RMB 1.943 billion, and RMB 2.659 billion for the years 2025, 2026, and 2027 respectively, reflecting year-on-year growth rates of 35%, 53%, and 37% [1] Industry Summary - According to Frost & Sullivan, the market size for AI solutions in China is expected to reach RMB 180.4 billion in 2024, with a five-year compound annual growth rate (CAGR) of 33.7%, and is projected to grow to RMB 1,174.9 billion by 2030, with a CAGR of 36.7% [1] - The recent launch of the "Shanhai Zhi Medical Model 5.0" by CloudWalk Technology represents a significant advancement in the medical AI field, featuring a dual-core product system that integrates medical text processing and multi-modal capabilities, making it one of the most comprehensive medical AI technology support systems in the industry [1]