Investment Rating - The investment rating for the company is "Buy" and is maintained [1]. Core Viewpoints - The report highlights the strategic acquisition of Shandong High-Speed Group as the new controlling shareholder, which is expected to break through growth barriers and enhance the company's market position in the integrated "smart transportation-low altitude-data" sector [1][11]. - The company is positioned as a leading "AI + blockchain" technology service provider, leveraging over 30 years of industry experience to develop advanced products and solutions, particularly in smart social security, healthcare, and energy management [8][19]. - The report emphasizes the potential for growth through collaboration with Shandong High-Speed Group, which has a robust infrastructure and extensive market reach, thereby opening new business avenues in smart transportation and energy information [19][24]. Summary by Sections 1. Change of Control and Growth Potential - The change in controlling shareholder to Shandong High-Speed Group, which now holds 24.59% of shares, is expected to provide new growth opportunities and resources for the company [10][11]. - The company's revenue for 2024 is projected at 555 million yuan, with a slight increase of 3.14%, while the net profit is expected to be 64.08 million yuan [19]. - The report notes a significant increase in revenue from markets outside the province, which grew by 29.90% year-on-year [8]. 2. Shandong High-Speed Group's Business Layout - Shandong High-Speed Group operates over 9,070 kilometers of highways, managing significant traffic and leading in various sectors including smart transportation and renewable energy [24][31]. - The group has developed advanced smart traffic solutions, including over 3,200 million ETC users and a transaction volume exceeding 100 billion yuan annually [24][31]. - The report outlines the group's initiatives in low-altitude economy and green energy, including plans to deploy 22,000 aircraft for logistics and emergency services [26]. 3. Collaboration Opportunities - The report identifies potential synergies between the company and Shandong High-Speed Group in areas such as smart transportation, digital payment systems, and energy management [33]. - The collaboration could enhance the efficiency of highway management and expand the application of AI and blockchain technologies in various operational scenarios [33]. - The integration of data management capabilities from the company with the extensive data resources of Shandong High-Speed Group is expected to drive innovation and operational efficiency [33].

Core Viewpoint - The report highlights the potential growth opportunities for Shanda Diwei following the change in its actual controller, emphasizing its leadership in the "AI + Blockchain" sector and the expected positive impact on revenue growth [2][3][8]. Group 1: Company Overview - Shanda Diwei is a leading "AI + Blockchain" technology service provider in China, affiliated with Shandong University, focusing on deep integration of production, education, and research [2]. - The company is advancing in key business areas such as smart social security, smart healthcare, and intelligent electricity, while enhancing its AI technology research and product development [2]. - In 2024, the company is projected to achieve revenue of 555 million yuan, a 3.14% increase year-on-year, but its net profit is expected to decline by 21.04% to 64.08 million yuan due to increased costs and R&D expenses [2]. Group 2: Strategic Developments - The company announced a potential change in its controlling shareholder and actual controller as part of a broader reform initiative by Shandong University, which could open new business avenues and enhance revenue growth prospects [3]. - Shanda Diwei is leveraging its core technologies to develop a new product system that supports data circulation and utilization, including four major core products and solutions [4]. Group 3: AI and Blockchain Applications - The company is actively exploring AI and blockchain technologies, having developed a comprehensive product system that includes platforms for data governance and resource management [4]. - Shanda Diwei's AI initiatives include the development of a large model, DareWen, aimed at enhancing various business applications, with contracts worth 88 million yuan signed in 2024 [5][6]. Group 4: Investment Outlook - The earnings per share (EPS) forecasts for 2025, 2026, and 2027 are projected at 0.20, 0.25, and 0.27 yuan respectively, with corresponding price-to-earnings (PE) ratios of 54.65, 44.06, and 40.33 [8]. - The company maintains a "buy" rating, with expectations that the change in actual controller will inject new growth momentum and break through revenue growth ceilings [8].