Core Viewpoint - Pacific Securities research report highlights that Bee Assistant is a well-known digital virtual goods service provider in China, expanding into the IoT + cloud terminal sector [1] Group 1: Company Performance and Goals - The company has set a target for its 2025 equity incentive plan, aiming for a revenue growth rate of no less than 30.30% and a research and development expenditure growth rate of no less than 18.00% based on 2024 [1] - This indicates the company's confidence in future development and a strong commitment to R&D investment [1] Group 2: Market Position and Growth Potential - The company has accumulated a large number of top-tier client resources over the years, establishing a high barrier to entry with core clients [1] - The development momentum in the IoT + cloud terminal business is strong, suggesting a promising second growth curve [1] - The report maintains a "buy" rating for the company [1]