HK Stock Market Move | YIDU TECH (02158) rose by over 8%, with more than 20 medical institutions accelerating the implementation of the AI platform. Citigroup is optimistic about AI improving the operating efficiency of medical services.

YIDU TECH (02158) rose more than 8% during the trading session, up 6.48% to HK$7.23 as of the time of writing, with a trading volume of HK$1.79 billion. On the news front, recently, the "YiduCore+DeepSeek" dual-engine drive, the accelerated landing of the AI platform, has been successfully implemented in top domestic medical institutions such as Xiangya Hospital of Central South University, Cancer Prevention and Treatment Center of Sun Yat-sen University (Cancer), The First Affiliated Hospital of Nanchang University, Harbin Medical University Cancer Hospital, and Shandong Provincial Hospital affiliated to the First Medical University, accelerating the landing of more than 20 medical institutions, demonstrating the strong adaptability of the AI platform in complex medical scenarios. It is reported that as of September 30, 2024, YiduCore has processed and analyzed over 5.5 billion authorized medical records, with a hospital network covering over 2,800 institutions, and the disease knowledge graph covering almost all known diseases. A recent research report from Citigroup has given YIDU TECH a "buy" rating, raising its target price from HK$8 to HK$12. The bank stated that this adjustment is mainly based on YIDU TECH's leading technological advantage in the field of artificial intelligence, and the huge growth potential of the Chinese medical market driven by AI. Citigroup believes that in the short term, AI technology can help companies reduce labor costs by improving operational efficiency. Looking ahead in the medium to long term, with the continuous maturity of technology and deepening application, the market will usher in a golden age of vigorous development. YIDU TECH, with its independently developed AI technology and industry accumulation, is expected to fully benefit from this trend.