UBS: Initiates coverage of Smart Tune with a "buy" rating and target price of HK$1,160.

UBS released a research report stating that for the first time covering the mainland large-scale model developer Zhifu, giving it a "buy" rating, with a target price of 1,160 Hong Kong dollars. The bank pointed out that Zhifu has a good track record in improving model intelligence, especially in coding capabilities. With the enterprise AI demand reaching a turning point in early 2026, it may bring commercial breakthroughs, and its strategy is similar to that of the American AI company Anthropic.