Group 1 - The company repurchased 181,000 shares at an average price of HKD 5.15, totaling over HKD 930,000, marking the second consecutive day of buybacks, with a cumulative total of approximately 573,000 shares and nearly HKD 3 million in total repurchases [1] - Since September 26, the company has completed 12 repurchase transactions, with a cumulative repurchase amount exceeding HKD 25 million [1] - The company reported total revenue of RMB 358 million for the fiscal year 2026, representing a year-on-year growth of 8.7%, with adjusted EBITDA reaching approximately RMB 54 million, doubling from the same period last year [1] Group 2 - The management highlighted that the AI medical model technology has entered a new phase of "multiple blooms and large-scale implementation," evidenced by deep deployment in over 30 top-tier hospitals nationwide [2] - The diagnostic accuracy of the developed TNM staging assessment tool has significantly improved, with T-stage accuracy rising from 58% to 90%, reaching the level of chief physicians [2] - Brokerages are releasing positive signals, with Everbright Securities noting the company's breakthroughs in AI medical innovation and Citigroup maintaining a "buy" rating with a target price of HKD 10, recognizing its core competitiveness and growth potential in the AI healthcare sector [2]

Core Viewpoint - The company, Yidu Tech (02158), has demonstrated healthy growth in its business, achieving a total revenue of RMB 358 million, representing a year-on-year increase of 8.7% [1][1][1] Financial Performance - The adjusted EBITDA for existing business reached approximately RMB 54 million, doubling compared to the same period last year [1][1][1] - The company has nearly achieved breakeven at the accounting level, reaching this key financial milestone about a year earlier than management's previous expectations [1][1][1] Market Activity - On December 3, the company repurchased 392,000 shares at a price of HKD 5.09 per share, with a total repurchase amount of approximately HKD 2 million [1][1][1] Analyst Sentiment - Brokerages are releasing positive signals regarding the company, with Everbright Securities highlighting Yidu Tech's continuous breakthroughs in the AI medical innovation field [1][1][1] - Citigroup has maintained a "Buy" rating for the company, setting a target price of HKD 10, recognizing its core competitiveness and growth potential in the AI healthcare sector [1][1][1]

Core Viewpoint - The company, Yidu Tech (02158), has demonstrated healthy business growth with a significant improvement in financial performance, highlighted by a notable increase in revenue and adjusted EBITDA, while also engaging in share buybacks to enhance shareholder value [1] Financial Performance - For the fiscal year 2026, Yidu Tech reported total revenue of RMB 358 million, representing a year-on-year growth of 8.7% [1] - The adjusted EBITDA for existing business reached approximately RMB 54 million, doubling compared to the same period last year, indicating a near breakeven point on the accounting level [1] - The achievement of this financial milestone occurred about one year earlier than the management's previous expectations [1] Market Sentiment - Brokerage firms are releasing positive signals regarding Yidu Tech, with Everbright Securities highlighting the company's continuous breakthroughs in AI medical innovation [1] - Yidu Tech's medical large model has begun to establish a "data + algorithm + scenario" closed-loop system, accelerating the application of technology across multiple scenarios [1] - Citigroup has maintained a "Buy" rating for the company, setting a target price of HKD 10, recognizing its core competitiveness and growth potential in the AI healthcare sector [1] Share Buyback - On December 3, the company repurchased 392,000 shares at a price of HKD 5.09 per share, with a total repurchase amount of approximately HKD 2 million [1]

Core Viewpoint - The report by Everbright Securities highlights significant advancements made by Yidu Tech (医渡科技) in the field of AI healthcare, establishing a preliminary "data-algorithm-scenario" closed-loop model that accelerates business implementation across multiple scenarios [1] Group 1: AI Healthcare Innovations - Yidu Tech is deeply involved in the construction of the national AI application pilot base in Beijing, serving as a core ecological partner and driving the implementation of several benchmark projects [1] - The company has developed an "AI recruitment agent" for clinical trial participants, which has been validated in six projects, significantly improving the efficiency and accuracy of participant recruitment [1] - Yidu Tech has also created an AI application plugin for Beijing, integrating various AI tools to reduce the operational and system integration burden on medical institutions [1] Group 2: Clinical Research Projects - In September, Yidu Tech announced winning a bid for the Phase III clinical research project of recombinant human nerve growth factor (SMR001) eye drops, with a total amount of approximately 55.82 million RMB [2] - The company leverages its medical large model to efficiently produce high-quality clinical evidence and disease knowledge graphs, addressing the pain points of long duration, high costs, and low success rates in clinical trials [2] - With a continuously expanding high-quality client base, Yidu Tech is expected to further enhance its market share in the medium to long term [2] Group 3: Health Management Platform - Yidu Tech has recently launched "Hui Min Bao" insurance services in Hebei and Guangzhou, contributing intelligent services to these initiatives [3] - The company has participated in "Hui Min Bao" projects across 5 provinces and 13 cities, serving over 40 million insured users [3] - Utilizing intelligent models and risk prediction capabilities, Yidu Tech provides comprehensive solutions from product design to operational services for urban inclusive insurance, with expectations for continued penetration into high-tier cities [3] Group 4: Investment Outlook - Everbright Securities maintains a "buy" rating for Yidu Tech, expressing optimism about the company's ongoing innovations and ability to implement AI healthcare solutions [3]