Shangtang-W (00020) rose 3.3 percent in early tradingharmonycryptogame.38%harmonycryptogame, currently quoted at HK$1.53, with a turnover of HK$704 million.
HSBC released a research report that Shangtang's business structure is shifting from its original smart cities, smart businesses, smart life and smart cars to the development of generative artificial intelligence (GenAI). Last year, GenAI's revenue tripled year-on-year, contributing to total revenue. Contributed by 35%, since the release of the 5.0 upgrade version of its "Daily New Model" on April 23, the company's share price has risen by 130%. According to the report, Shangtang said that the performance of Niri New 5.0 can rival that of GPT4-Turbo. It has been selected by well-known customers such as Kingsoft Software and Xiaomi, and it is believed that it will accelerate the growth of GenAI-related revenue this year.