HK Stock Market Move | BAIGE DIGITAL(02672) rises over 7%; MaaS revenue up 7.3x in the first three quarters; pricing logic shifts toward a "vertical AI risk control application platform"

BAIGE DIGITAL(02672) rose over 7%, up 7.68% as of press time, at HK$77.85, with a turnover of approximately HK$51.31 million. On the news front, BAIGE DIGITAL recently announced that in the first three quarters of this year, the company's MaaS service revenue was approximately RMB62.1 million, a year-on-year increase of approximately 730.4%; MaaS service revenue in the third quarter was approximately RMB25.6 million, a quarter-on-quarter increase of approximately 29.33%, further validating the commercial feasibility of the company's AI risk control decision-making large model technology output strategy. This growth was driven by customers' continued reuse of the company's MaaS services and its promotion and use within their internal branches and subsidiaries. It is understood that BAIGE DIGITAL uses scenario-based transaction services as an entry point to continuously obtain real-world high-frequency risk data, trains the Qingluan MoE vertical large model and the six major MaaS model matrices with the data, and embeds them into customers' production processes for external output through the Baige e-Bao system. The company's pricing logic is facing a shift from a "project company" to a "vertical AI risk control application platform."