Group 1 - The stock price of Hanjia Design closed at 16.68 yuan on August 13, down by 0.26 yuan, representing a decline of 1.53% [1] - The trading volume on that day was 74,234 hands, with a transaction amount of 124 million yuan [1] - Hanjia Design is primarily engaged in architectural design, municipal design, and landscape design, operating within the engineering consulting services industry [1] Group 2 - The company recently established Sichuan Futai Future Technology Co., Ltd., with a registered capital of 20 million yuan [1] - The new company's business scope includes software outsourcing services, communication equipment sales, environmental protection monitoring, and marine environmental services [1] Group 3 - On August 13, the net outflow of main funds for Hanjia Design was 10.5161 million yuan, with a cumulative net outflow of 3.0603 million yuan over the past five days [1]

Group 1 - Hubei Jingyilan Technology Co., Ltd. has been established with a registered capital of 2 million RMB, fully owned by Liaoning Yizhuo Technology Co., Ltd. [1] - The legal representative of Hubei Jingyilan Technology Co., Ltd. is Yang Liqun [1] - The company operates in various sectors including software outsourcing services, internet data services, human resources services, and technology consulting among others [1] Group 2 - The business scope includes software development, technology transfer, market marketing planning, and cultural and artistic agency services [1] - The company is classified under the national standard industry of information transmission, software, and information technology services [1] - The registered address of the company is located in Chongyang County, Xianning City, Hubei Province [1]

Core Insights - Shanghai Wanwuchain Shangzhixin Technology Co., Ltd. has been established, with a legal representative named Lü Jiezhong [1] - The company's business scope includes sales of IoT devices, IoT application services, software outsourcing services, and retail of computer software, hardware, and auxiliary equipment [1] - The company is jointly held by Xince Standard (300938) and others, indicating a collaborative investment approach [1]

Core Viewpoint - A new company named Shanghai Wanwu Chain Shangzhi Technology Co., Ltd. has been established, focusing on IoT business and related services [1] Group 1: Company Formation - The new company is co-owned by Xince Standard (300938) and others [1] - The legal representative of the new company is Lü Jiezhong [1] Group 2: Business Scope - The business scope includes sales of IoT devices, IoT application services, software outsourcing services, and retail of computer software, hardware, and auxiliary equipment [1]

Investment Rating - The report initiates coverage with a "Buy" rating for Huibo Yuntong [5] Core Views - Huibo Yuntong is positioned as a rising star in the domestic digital infrastructure sector through its acquisition of Baode Computer, a leader in the domestic server market [2][41] - The company has shown strong revenue growth, with a projected revenue of 1.743 billion yuan in 2024, representing a 28% year-on-year increase [3][4] - The management team has confidence in the company's growth trajectory, focusing on financial technology and leveraging its strong client base [3][30] Summary by Sections Company Overview - Established in 2009, Huibo Yuntong provides software outsourcing and terminal testing services, initially focusing on the telecommunications sector and later expanding into internet, finance, and automotive industries [1][10] - The company has built a robust client ecosystem, including major players like ByteDance, Alibaba, and China Bank [2][24] Acquisition of Baode Computer - The planned acquisition of Baode Computer aims to enhance Huibo Yuntong's capabilities in the domestic computing power sector, particularly in AI and server solutions [2][41] - Baode Computer is a leading provider in the domestic server market, holding significant market shares in ARM servers and AI servers [2][44] Financial Performance and Projections - Revenue is expected to grow from 1.743 billion yuan in 2024 to 3.667 billion yuan by 2027, with a compound annual growth rate (CAGR) of 26% from 2020 to 2024 [4][72] - The net profit attributable to shareholders is projected to increase from 66 million yuan in 2024 to 188 million yuan by 2027 [4][72] - The company maintains a stable gross margin around 24% across its business segments [30][73] Strategic Focus - Huibo Yuntong is strategically focusing on the financial IT sector, with significant growth in revenue from this segment, expected to increase by 50% annually from 2025 to 2027 [22][71] - The company has established long-term partnerships with major financial institutions, enhancing its market position [22][71] Valuation and Investment Recommendation - The current market valuation suggests potential for growth, with projected price-to-earnings (PE) ratios of 111, 83, and 62 for 2025, 2026, and 2027 respectively [3][4] - The report emphasizes the company's unique position in the market and the potential for significant appreciation in value following the successful acquisition of Baode Computer [3][4]