Haitong International released a research report saying that Zhi Spectrum's recent annual recurring revenue growth has accelerated, further proving the iterative expression of its core capabilities and model. Haitong International raised the target price of Smart Spectrum from HK$1,200 to HK$2,300, which is equivalent to 30 times the predicted market sales rate in 2027, and reaffirmed the “better than the market” rating. Founder Tang Jie announced the launch of the two-year “Touch High” initiative in an internal letter. The company will suspend short-term application-side commercialization, concentrate resources to promote basic technology research and development required for general artificial intelligence, and send a strong signal to investors that management is focusing on improving long-term model capabilities. The bank said that according to IDC 2026 enterprise user survey data, only 18% of Chinese companies have integrated AI agents into core business processes, indicating that companies are still in the early stages of adopting AI, and the actual budget penetration rate is still extremely low. Although models such as Kimi K3, Qwen 3.8, and DeepSeek V4 have recently been launched in the market, it is expected that Smart Spectrum will continue to expand its model capabilities in the coming months, and there is no concern about zero-sum competition.

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