Gelonghui, May 18 丨 In order to promote the continuous development and widespread application of artificial intelligence technology in the live e-commerce industry, Yuanwang Technology (002291.SZ) recently signed an agreement with Xiaobing Company on “Live E-commerce Artificial Intelligence Technology/Product Strategic Cooperation”. According to the May 17 research report of Cinda Securities, Yuanwang Technology uses its advantages in operation, supply chain, technology research and development, and industry data in the field of live e-commerce to jointly develop, upgrade, and improve new artificial intelligence technologies/products in the field of live e-commerce, including but not limited to product innovation and upgrades in the fields of virtual people and AI products. The company will also cooperate with Xiaobing Company on various aspects such as brand promotion, commercial resources, and commercialization. “AI+ Virtual Split” has become a hot topic in the industry, and the company has taken the lead in introducing industry solutions to lead the live e-commerce market. The company's “Online+Offline” new commercial complex “Yuanwang X27” project with a total project area of 229,000 square meters in Hangzhou is being prepared. The apparel supply chain distribution platform will rely on “Yuanwang Cloud AIOS” to support the rapid growth of the distribution business. The company previously had extensive reserves for building digital virtual human IPs and digital scenarios. Adjusting the company's 23-24 year profit forecast and adding the 25-year profit forecast, the company's net profit for 23-25 is estimated to be 509/813/1,233 million yuan respectively. Maintaining the “buy” rating, I am optimistic about the company's investment value as the core concept stock of “AI+ Virtual Split” and the improvement of the GMV cycle starting in Q2.