山东移动充分发挥通信、视频、大数据、AI等领域的综合优势，客流分析系统在现有监控设备基础 上，通过视频智能解析与深度学习，帮助商家直观掌握客流变化趋势与顾客画像，实现从"经验驱 动"到"数据驱动"的转型。 客流管理是零售竞争的核心，直接决定门店效益与企业精准营销水平。随着消费方式转型，智能化、数 据化已成为高质量发展的必然趋势。山东移动顺应数字经济战略，将AI与视频深度融合，打造"客流分 析系统"，为仁和堂药店、薛记炒货、婴贝儿等本土连锁企业接入2000余路视频通道，助力实现智慧经 营升级，全面提升服务质量与市场竞争力。 智慧客流洞察，驱动精准运营 针对连锁企业，该系统提供跨门店的汇总分析能力，能够统一整合各地门店的客流数据，形成全局视 角。管理者不仅可以掌握整体的客流趋势、客户画像和高峰时段，还能横向对比不同门店的运营表现， 识别差异和潜力。同时，多店模式与单店分析相结合，既能下沉到单店的运营细节，也能上升到全局的 宏观布局，全面提升企业的数字化管理水平与市场竞争力。 应用场景广泛，打造智慧商业新样板 该系统广泛适用于零售、餐饮、商场、影院、博物馆、展会等多元场景，依托7×24小时实时监控与智 能分析，有效 ...

Investment Rating - The report initiates coverage with a "Buy" rating for the company [6][8]. Core Views - The company is undergoing a significant transformation driven by "intelligent computing power + data elements," focusing on AI capabilities to enhance its market competitiveness and operational efficiency [3][5][6]. - The financial outlook shows a narrowing of losses, with projected net profits increasing significantly from 2025 to 2027, indicating a potential turning point in profitability [5][6][7]. Summary by Sections 1. AI and Big Data-Driven Core Business Layout - The company is building a high-performance computing service ecosystem, aligning with national strategies and forming joint ventures to enhance its computing power capabilities [13]. - The "HuiKe Cloud" platform is central to the company's data assetization process, integrating extensive offline commercial data to provide intelligent decision-making solutions [14][16]. - A change in actual control is anticipated, with a strategic shift towards integrating 3D printing, AI, and computing power [17][20]. 2. Large Models Driving Industrial Transformation - The emergence of open-source ecosystems is facilitating rapid innovation in vertical applications, with the company leveraging these advancements to enhance its AI capabilities [4][35]. - The introduction of the "Doubao Video World" model represents a breakthrough in visual cognition, enabling new applications in various fields without reliance on textual data [38][42]. 3. Financial Overview: Narrowing Losses and Strengthening Long-Term Value - The company has experienced revenue fluctuations and short-term profitability pressures, primarily due to high R&D expenditures and fixed costs [59]. - The transition to data services has led to a significant improvement in gross margins, indicating the effectiveness of the strategic shift towards becoming a data service provider [61]. 4. Profit Forecast and Investment Recommendations - The company is expected to see substantial growth in net profits from 2025 to 2027, with earnings per share projected to rise significantly [6][7]. - The report emphasizes the potential for the company's AI and data services to drive future growth, supported by favorable market conditions and policy incentives [6][54].

Investment Rating - The report initiates coverage with a "Buy" rating for the company [6][8]. Core Views - The company is undergoing a significant transformation driven by "intelligent computing power + data elements," focusing on AI capabilities to enhance its market competitiveness and operational efficiency [3][5][6]. - The financial outlook shows a narrowing of losses, with projected net profits increasing significantly from 2025 to 2027, indicating a potential turning point in profitability [5][6][7]. Summary by Sections 1. AI and Big Data-Driven Core Business Layout - The company is building a digital transformation foundation through a dual-engine strategy of intelligent computing power and data elements, integrating high-performance computing services [13]. - The company plans to change its actual controller, which may accelerate its strategic transformation into a new layout combining 3D printing, AI, and computing power [17][20]. - The company has developed a customer flow analysis system and a remote store inspection system, leveraging AI to enhance decision-making in commercial operations [21][24]. 2. Large Models Driving Industrial Transformation - The emergence of open-source ecosystems is facilitating the rapid development of vertical applications, with the company positioned to leverage these advancements [4][35]. - The introduction of the "Doubao Video World" model represents a breakthrough in visual cognition, allowing for video generation without text prompts, thus reshaping application paradigms [38][42]. 3. Financial Overview: Narrowing Losses and Strengthening Long-Term Value - The company has experienced revenue fluctuations and short-term profit pressures, primarily due to high R&D expenditures and fixed costs [5][59]. - The transition to data services has led to a significant increase in gross margins, indicating the effectiveness of the strategic shift towards becoming a data service provider [61]. 4. Profit Forecast and Investment Recommendations - The company is expected to see substantial growth in net profits from 2025 to 2027, with projected earnings per share (EPS) increasing from 0.10 yuan to 0.46 yuan [6][7]. - The report emphasizes the potential for the company's AI and data services to drive future growth, supported by favorable policy trends and market demand [54][64].