Core Viewpoint - HuTongDa Network (09878) has received a filing notice from the China Securities Regulatory Commission regarding the full circulation of H-shares, which will significantly increase its H-share circulation ratio from 32% to 94% [1] Group 1 - The company has completed the filing for the conversion of over 349 million domestic shares into H-shares [1] - The increase in H-share circulation is expected to significantly expand HuTongDa's market capitalization in Hong Kong stocks and may meet the inclusion criteria for the Stock Connect program [1] Group 2 - Since 2025, the company has been deepening its "smart supply chain" and "AI+SaaS" strategic layout [1] - The company is entering new models and new tracks in the fast-moving consumer goods sector and community hard discount retail [1] - Market expectations suggest that ongoing strategic upgrades and innovative scenarios will lead to sustained and stable growth for the company [1]