Smart Key International (02590) receives attention from southbound funds on its first day of listing, highlighting the emergence of a window for long-term value positioning.

On February 6th, AI+Siasun Robot & Automation leading company Jizhijia (02590) was officially included in the list of stocks eligible for southbound trading under the Shanghai-Hong Kong Stock Connect. Due to temporary fluctuations in the Hong Kong stock market sentiment and profit-taking activities, the company's stock price experienced a pullback on the same day. However, the trading volume during the day was significantly higher compared to the previous trading day, indicating continued interest from southbound funds. Post-market data showed that on that day, southbound funds through the China Investment (Shanghai-Hong Kong Connect) and China Chuangying (Shenzhen-Hong Kong Connect) channels collectively bought over 570,000 shares, becoming the core buying force of the day, confirming the active interest of southbound funds in the stock. Market institutions and industry experts generally believe that being included in the stock connect program is a key milestone in enhancing a company's position in the capital market. The short-term fluctuations in stock price do not change the fundamental logic of its continuous improvement. Instead, it provides a window for quality long-term investments. As a leading company in AI+Siasun Robot & Automation, Jizhijia attracted continued attention from southbound funds on the first day of inclusion. "The increase in liquidity brought by the inclusion is the key point, and the short-term pullback precisely provides a positioning window for long-term funds." A Hong Kong tech industry analyst pointed out that the company's global distribution and technological barriers are key characteristics that southbound funds are focusing on. This inclusion not only brings an important new source of funding from the southbound funds for Jizhijia but also significantly enhances the company's visibility and liquidity in the capital market. Statistics show that in recent years, technology companies included in the Hong Kong stock connect program saw an average increase of over 10% in southbound fund holdings within 30 trading days after inclusion. With the continuous inflow of funds, the company's valuation system is expected to approach that of the world's leading technology companies. From a fundamental perspective, Jizhijia is a scarce target in the Siasun Robot & Automation sector of the Hong Kong stock market with strong commercialization capabilities. On February 5th, the company disclosed that its orders for 2025 reached 4.137 billion yuan, representing a year-on-year growth of approximately 31.7%, significantly outpacing the industry average growth rate and providing clear room for future revenue growth. In terms of global development, the company continues to land large-scale orders in emerging markets such as Eastern Europe and Latin America, further solidifying its global presence. The company has also signed a strategic cooperation agreement with top global e-commerce companies, committing to annual purchases of multiple billion yuan, indicating a deep integration of Jizhijia into the customer supply chain core. The cross-regional applicability and standardization capabilities of its solutions have been recognized by top enterprises, facilitating global project replication for customers. In the rapidly growing field of intelligent robotics, the company's pace of technological breakthroughs and industrial implementation has accelerated. Its self-developed Geek+ Brain base model has achieved ultra-large-scale SKU precise picking in warehousing scenarios and launched the world's first unmanned picking workstation on February 4th, officially establishing a presence in the Xiong'an New Area, leveraging local computing power and scene resources to accelerate intelligent robotics research. With the commercialization of technology, the company will unlock new growth opportunities, with promising prospects. Leading brokerages predict that with the further release of the company's economies of scale, the company is expected to achieve profitability breakthroughs in the short term. CMSC expects the company to achieve adjusted profitability in the 2025 fiscal year and enter a phase of scaled profitability in 2026. Daiwa Securities points out that the company's rapid growth in orders in core markets such as the United States, coupled with insurmountable technological barriers, will strongly support the expansion of gross profit margin by 2026. Bank of America Securities predicts that the company will turn losses into profits in 2025 and estimates that earnings per share will increase by 55% year-on-year until 2028. Market observers believe that the short-term fluctuations in stock prices are mainly due to the temporary speculation cycle of funds, rather than changes in the company's fundamentals. With the continuous allocation of southbound funds after inclusion and the subsequent release of commercialization progress, the long-term value of Jizhijia will gradually be validated. This inclusion not only marks an important milestone in the company's global strategy but also provides investors with a key target to share the benefits of the global intelligent logistics industry.