On December 9th, Haitong Securities released a report stating that SenseTime has completed its organizational strategic restructuring and established a 1+X architecture. SenseTime has already achieved a prominent leading edge in the AI large model field. On one hand, the company's Daily New series models have achieved excellent results in evaluations, which proves the company's strong technical capabilities in large models. On the other hand, the company's AI large model solutions are also among the top tier in the industry, indicating that the company not only has outstanding models but also the ability to implement these models into practical applications. Additionally, the report mentions that SenseTime is among the top 3 GenAI iaas service providers. SenseTime's large-scale equipment can provide more comprehensive computing power cluster operation maintenance support and super large cluster guarantee capacity for large model businesses, serving as a solid foundation for the company's AI business development. Overall, the company is at the forefront in the entire industry chain of large models, AI commercialization, and intelligent computing services in the domestic market, establishing a strong moat for the company in the field of AI. The report determines that the completion of the company's strategic organizational restructuring will open a new chapter in the company's development in the AI era. Taking various factors into account, the report predicts that SenseTime Group will have a p/s ratio of 16 to 20 in 2024, corresponding to a reasonable value range of 2.27 to 2.84 Hong Kong dollars per share, and gives a "outperform the market" rating.