Core Viewpoint - Daiwa's report highlights that the management of Geek+ (02590) emphasizes strong order volume year-to-date, with U.S. orders growing at the fastest pace, now accounting for over 30% of total orders [1] Group 1: Order Growth and Market Contribution - The management anticipates that the contribution of the U.S. market to sales will enhance the gross margin by 2026 [1] - A significant order with a U.S. large retailer is expected to materialize, involving a non-U.S. overseas warehouse project worth $30 million [1] - The company has also secured a large order exceeding 300 million RMB from a major South Korean e-commerce platform [1] Group 2: Stock Performance and Investment Outlook - Daiwa maintains a "Buy" rating on Geek+ and considers it a top choice in the global logistics AI sector, with a target price of HKD 38 unchanged [1] - Recent stock price fluctuations are attributed to profit-taking rather than a deterioration in fundamentals, presenting an attractive risk-return opportunity for investors [1] Group 3: Revenue Growth Confidence - Based on the current order backlog, management is confident in maintaining high revenue growth through 2026 [1]
大和：极智嘉-W订单量强劲 近期股价回调提供入市时机