HK Stock Price Fluctuated | CHINASOFT INT'L (00354) rises more than 4%, will collaborate with Shenkaihong and Shen Zhicheng to jointly carry out the construction of Shenzhen Digital City.

CHINASOFT INT'L (00354) rose more than 4%, closing at 4.19% higher at HKD 6.46, with a trading volume of HKD 73.4064 million. In recent news, Beijing Zhongruan International Information Technology Co., Ltd., Shenzhen Development Co., Ltd., and Shenzhen Smart City officially signed a comprehensive strategic cooperation agreement. The three parties will collaborate on the Shenzhen Smart Twin Pioneer City Action Plan to promote the development of emerging technologies such as open-source Hongmeng and AIGC in the areas of pioneer infrastructure, pioneer applications, pioneer data, and pioneer technology. CITIC SEC pointed out that Hongmeng is further moving towards edge intelligence and empowering smart cities, bringing new demands for Hongmeng's ecological development. The bank believes that ChinaSoft International, as a strategic partner of Shenzhen Development and Shenzhen Smart City, is expected to benefit from the urban system and related ecological development demands brought about by the construction of Shenzhen Hongmeng Euler City. The bank maintains the company's target price of HKD 8 for 2024 and a "Buy" rating.