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Kaiyuan Securities Upgrades WEIMOB INC to Buy; Firm May Enjoy Structural Benefits as Key Tencent-Series Service Provider
Recommend 55 Positive 73 Negative 44 |
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Kaiyuan Securities recently released a report estimating that leading service providers may benefit first as WeChat e-commerce is gradually improving. The broker upgraded WEIMOB INC (02013.HK)'s rating to Buy since WEIMOB INC was among the first to integrate its Mini Program into WeChat Mini Shops, and it may benefit first as a leading Tencent service provider when the WeChat e-commerce ecosystem matures in the future. The broker maintained its 2024-2026 revenue forecasts for WEIMOB INC at RMB1.81 billion/ RMB2.11 billion/ RMB2.39 billion, corresponding to -18.9%/ +17.1%/ +13% YoY, with a loss of RMB50 million/ an adjusted net profit of RMB130 million/ an adjusted net profit of RMB300 million. The company is also anticipated to swing into profit from loss in 2025 after continuous cost cuts and efficiency improvement as well as the downsizing of loss-making businesses in 2024. On December 20, according to the Weimob Smart Retail official account on WeChat, WEIMOB INC is taking the lead in integrating Mini Program with WeChat Mini Shops to help merchants connect Mini Program and WeChat Mini Shops, said the broker. The broker believed that WEIMOB INC, as an important Tencent-series service provider, is likely to enjoy structural benefits. In the future, it is expected to bring in new SaaS customers as consumer habits on WeChat develop, more merchants join the WeChat ecosystem, the public and private domain traffic integrate, and transaction ecosystems continue to improve. AAStocks Financial News |
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