Core Viewpoint - Jianyin International maintains a "outperform" rating for Maifushi (02556) due to its strong profit growth outlook, raising the target price from HKD 61 to HKD 69.8, which corresponds to a projected overall price-to-sales ratio of 6.3 times for 2026 [1] Financial Performance - Maifushi reported a significant performance in the first half of the year, with total revenue increasing by 26% year-on-year to RMB 928 million [1] - The growth was driven by stable contributions from artificial intelligence and Software as a Service (SaaS) businesses, a 25% increase in precision marketing services, and new business initiatives (including AI agents and integrated devices) contributing RMB 110 million [1] Earnings Forecast - Jianyin International has kept the revenue forecasts for the company from 2025 to 2027 largely unchanged, but has raised the earnings forecasts for the same period by 27%, 7%, and 6% respectively, reflecting the performance in the first half of 2025 and improved operational leverage [1]
建银国际：升迈富时(02556)目标价至69.8港元 AI代理快速增长助收入快速增长