The Zhitong Finance App learned that on April 26, the stock price of Shangtang (00020) has surged for three consecutive days, and the market's interest in Nissin 5.0 and Shangtang's “Cloud Side” full-stack model product matrices has not abated. Previously, Shangtang's stock price surged more than 30% on the 24th and triggered the suspension of trading, and continued to be popular in the market after resuming trading on the 25th. As of press release, Shangtang's stock price was reported at HK$1.07, with a turnover of over HK$2 billion, up 28.92%. According to calculations, during this round of rebound, Shang Tang Zhou rose more than 80%, the biggest increase in a single week since listing.

According to reports, on April 23, Shangtang released the “Nishi-Nissin 5.0” model with comprehensive capabilities to benchmark GPT-4 Turbo, and was the first in the industry to launch the “Cloud, End, Edge” full-stack large model product matrix, which includes the “Shangtang End-Side Big Model” for terminals and devices, as well as the “Shangtang Enterprise Big Model All-in-One” for various fields such as finance, coding, medical care, and government affairs. Currently, Shangtang's big model capabilities have empowered ecological partners such as Jinshan Office, Haitong Securities, Xiaomi, Reading Group, and Huawei.

According to information, “Nisshin SenseNova 5.0” uses a hybrid expert architecture (MoE) with 600 billion parameters. It is based on over 10TB tokens training, covering hundreds of billions of logical synthetic mind chain data and joint tuning of the SenseCore computing power facility and algorithm design of Shangtang AI's big device. It has stronger knowledge, mathematics, reasoning, and coding capabilities. The comprehensive performance is fully comparable to the GPT-4 Turbo, and reaches or surpasses the GPT-4 Turbo in mainstream objective evaluations.

According to Shangtang's 2023 annual results, Shangtang's generative AI business revenue was 1,184 billion yuan, achieving a rapid increase of 200% over the same period last year, accounting for 35% of total revenue. Typical customers include the three major operators, financial institutions such as Bank of China, China Merchants Bank, Industrial and Commercial Bank of China, and Haitong Securities; leading technology companies such as JD, Xiaomi, Jinshan, Honor, Reading, etc.; startups such as HiDream.ai and Lanzhou Technology; academic institutions such as Tsinghua University and Shanghai Jiao Tong University; and medical institutions such as Xinhua Hospital affiliated to Shanghai Jiao Tong University School of Medicine, Ruijin Hospital, and the First Affiliated Hospital of Zhengzhou University.

This round of strong value restoration by Shangtang also confirmed the judgment of previous stock commentators. Guo Sizhi, vice chairman of the Hong Kong Association of Stock Analysts, chairman of the Hong Kong Securities Dealers Association, and a well-known stock critic, said earlier, “The Shangtang AI device and intelligent computing center built over 10 billion dollars is difficult for the industry to replicate in the short term in the current market environment. In the AI 2.0 era of rapid iteration, Shangtang's advantages will expand further. The current stock price of Shangtang is at an all-time low, and the valuation is only about 1.0 times the net market ratio, so it is expected that there is plenty of room for improvement.”

Based on the commercial performance of generative AI and the technical advantages recently shown by Nisshin 5.0, BOC Securities, Guojin Securities, SDIC Securities, Haitong Securities, etc. are all optimistic about Shangtang's future market performance, giving Shang Tang positive ratings such as “buy” and “better than the market.”