Citigroup: Initiate coverage on Lanxi Technology H shares with a "buy" rating and target price of HK$205.

Citibank released a report, covering Lanqi Technology's H shares for the first time and giving it a "Buy" rating with a target price of 205 Hong Kong dollars. The target price for A shares has been raised from 170 yuan to 205 yuan, with a similar "Buy" rating. The report indicates that Lanqi Technology's A-share stock price has risen by 35% since the beginning of the year, benefiting from the long-term strong growth in the artificial intelligence infrastructure industry. Recent developments in artificial intelligence technology with embodied intelligent agents also open up unexpected growth opportunities for the storage interface and multi-column direct-connect memory module business. The report points out that Lanqi Technology is directly benefiting from enterprises' capital expenditure on artificial intelligence, and is monitoring its positive catalyst observation mechanism, focusing on the upcoming announcement of artificial intelligence capital expenditure and the upward demand for storage interface driven by artificial intelligence agent applications.