Investment Rating - The investment rating for the company is "Buy" with a target price of 15.03 HKD, indicating an expected return of over 20% within the next six months [7][16]. Core Insights - The company has successfully implemented a platform-based development strategy, leading to a significant increase in platform technology service revenue, which reached 3.47 billion HKD, a year-on-year growth of 103.6% [2]. - The company has transformed into an AI-driven digital technology firm focused on the industrial supply chain, achieving a net profit of 3.80 billion HKD in 2024, a 42% increase year-on-year [1][3]. - The integration of AI technology into the supply chain has enhanced customer acquisition and risk control capabilities, with the number of funding partners increasing by 24.4% to 163 [2][6]. Summary by Sections Financial Performance - In 2024, the company's revenue was 9.19 billion HKD, a decrease of 4.6% year-on-year, primarily due to the impact of the sale of Wuxi Guojin Commercial Factoring Co., Ltd. However, the platform technology service business significantly offset this decline [1]. - The projected revenue for FY2025 is adjusted to 11.11 billion HKD, with a net profit forecast of 4.98 billion HKD, reflecting continued growth expectations [6]. Business Strategy - The company has established strong partnerships with local state-owned enterprises, enhancing its platform-based financial services and expanding its supply chain finance capabilities [2]. - The company is actively exploring new markets, including e-commerce and robotics, with potential market sizes exceeding 10 trillion HKD [4][5]. Technological Advancements - The integration of the company's 盛易通云 platform with DeepSeek AI models aims to optimize AI capabilities for supply chain management and decision-making processes [4]. - The company has secured computational resources from Wuxi Economic Development Zone, enabling further development of AI applications in various industries [4]. Market Position - The company has maintained a leading position in key sectors such as infrastructure, pharmaceuticals, and commodities, while also expanding into emerging industries [3][4].
盛业：事件点评：行业数据+IDC+AI应用，打开AI全链条-20250318