Changes in Hong Kong stocks | White Pigeon Online (02672) surged more than 25% to a record high MaaS business maintained steady growth and the AI risk control model accelerated large-scale implementation

The Zhitong Finance App learned that White Pigeon Online (02672) surged more than 25%, reaching a new listing high of HK$98. Shares have risen 200% since September 10th. As of press release, it rose 25.46% to HK$96.10, with a turnover of approximately HK$61 million.

According to the news, White Pigeon Online recently revealed that in the first three quarters of this year, the company's MaaS service revenue was about RMB 62.1 million, an increase of about 730.4% over the previous year; the third quarter MaaS service revenue was about RMB 25.6 million, an increase of about 29.33% over the previous month, further verifying the commercial viability of the company's AI risk control decision-making big model technology export strategy. This growth is due to the continued reuse of the company's MaaS services by customers and the promotion and use of its internal subsidiaries.

The Open Securities Research Report points out that basic market blood supply, digital volume, and MaaS determine valuation flexibility. The company's transaction services contribute to stable cash flow and data assets; digital solutions advance along the “project depositation-standardization-modeling” path; MaaS is billed according to call volume, marginal costs are close to zero, and revenue is compounded. The share of MaaS revenue is expected to rise from 6.1% in 2026e to 39.4% in 2028E, driving the simultaneous upgrading of the revenue structure and profit structure.