Core Viewpoint - Han's Information is focusing on building autonomous AI agent solutions to promote B-end applications, aiming to enhance its digital and intelligent product offerings for large enterprise clients [1][2]. Group 1: Company Overview - Han's Information has been deeply engaged in the computer software service sector, providing digital and intelligent products and solutions to over 7,000 leading enterprises across various industries including manufacturing, finance, retail, and energy [1]. - The company has transitioned from being a pure ERP service provider to a software product vendor, establishing four main business lines and focusing on traditional ERP and ITO services for stability while driving growth through self-developed products [3]. Group 2: Product Development - At the 2025 Han's User Conference, the company launched its B-end AI application product/service series "De.Ling," which includes three major product series and one service series, aimed at supporting enterprises in building AI capability systems and upgrading their intelligence [2]. - The company plans to release version 1.6 of the Lingyuan AI platform by the end of May 2024, which will fully support MCP [2]. Group 3: Financial Performance - In 2024, the company achieved an 8.57% year-on-year revenue growth, with self-developed software product revenue reaching 1.774 billion yuan, a 16.17% increase from the previous year [4]. - The revenue from self-developed software products accounted for 54.83% of total revenue in 2024, up from 51.24% in 2023, with industrial digitalization showing the most significant growth at 21.27% [4]. Group 4: Incentives and Growth Strategy - In April 2024, the company announced a restricted stock incentive plan, proposing to grant 41.98 million shares to 268 incentive targets, which represents 4.26% of the total share capital [5]. - The incentive plan includes ambitious revenue and net profit targets for 2025, which are expected to enhance the company's competitive capabilities and motivate employees [5]. Group 5: Investment Outlook - The company is projected to have EPS of 0.25, 0.31, and 0.38 yuan for 2025, 2026, and 2027 respectively, with corresponding PE ratios of 80.00, 64.29, and 52.94 times [6]. - Given its position as a leading digital service provider and the integration of advanced technologies with ecosystem partners, the company is expected to accelerate the deployment of AI agents in enterprises, leading to a "buy" rating [6].