Core Viewpoint - HuTongDa Network (09878.HK) has signed an equity acquisition agreement with cognitive boundary, planning to acquire 57% of its shares for 456 million yuan, which will enhance its AI product matrix in retail scenarios [1] Group 1: Acquisition Details - The acquisition will allow cognitive boundary to become a subsidiary of HuTongDa, with its financial statements incorporated into the listed company [1] - The performance commitment states that cognitive boundary's net profit attributable to the parent company will not be less than 85 million yuan, 100 million yuan, and 115 million yuan over the next three years [1] Group 2: Strategic Implications - This acquisition is seen as a significant capital operation to strengthen HuTongDa's "industry empowerment" capabilities, enhancing its "5+ empowerment" model [1] - The integration of cognitive boundary's AI technology with HuTongDa's self-developed "QianCheng Cloud AI Model" is expected to improve operational efficiency for 251,000 member stores [1] Group 3: Data Integration - Cognitive boundary manages over 16,000 e-commerce stores with an annual sales control exceeding 140 billion yuan, which will integrate with HuTongDa's offline market data [2] - This integration aims to create a unique "online + offline + community" data platform for precise decision-making support [2] Group 4: Training and Support - Cognitive boundary's team of over 150 e-commerce experts will provide practical training for over 250,000 small-town stores and brand factories [2] - The focus will be on enhancing the grassroots capability of selling products through practical and scenario-based training [2] Group 5: Product and Supply Chain - The collaboration will enhance the supply of quality products in the lower-tier market by integrating cognitive boundary's brand resources with HuTongDa's existing supply chain [2] - This is expected to strengthen HuTongDa's control over core categories and improve the competitiveness of its private label and smart supply chain [2] Group 6: Marketing Enhancement - Cognitive boundary's advanced AIGC content tools and marketing automation capabilities will complement HuTongDa's existing agents [2] - This synergy is anticipated to systematically enhance the digital marketing efficiency of member stores across various platforms [2] Group 7: Strategic Execution - HuTongDa's recent steps, including the development of SaaS products and partnerships, align with its strategy to empower member stores and upstream partners [3] - The acquisition of cognitive boundary is a clear execution of this strategic direction [3]