The Zhitong Finance App learned that Lyon released a research report stating that Zhi Spectrum (02513) plans to place 19.78 million H shares at an placement price of HK$1,588 per share, raising about HK$31.4 billion. The bank believes that the sub-allotment will greatly enhance the company's financial situation and support the expansion of the scale of inference services and the increase in annual recurring revenue. With the expandable API business and increased profit margins brought about by the upgrade of the inference engine, the company is expected to achieve balance of payments by 2028 one year ahead of schedule. The bank raised Smart Spectrum's 2026 and 2022 revenue forecasts by 43% and 65% respectively, and raised the target price from HK$1,500 to HK$2,061, and upgraded its rating to outperform the market.

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