Core Insights - Citigroup's report indicates that due to strong demand for Artificial Intelligence Data Centers (AIDC), Weisheng Holdings is guiding that new orders from overseas clients will increase by 54% annually to reach 2 billion yuan by 2026 [1] - Citigroup expects the revenue contribution from Weisheng's data center business to rise from 9% in 2024 to 16% in 2025 and 20% in 2026 [1] - Given the higher profitability of the AIDC business, Citigroup has raised Weisheng's net profit forecasts for 2025 to 2027 by 11% to 17% and upgraded the stock rating to "Buy," increasing the target price from 11 HKD to 15.5 HKD [1] Group 1 - Weisheng Holdings' data center overseas revenue is projected to double from 200 million yuan in 2024 to 500 million yuan in 2025, reaching 1 billion yuan in 2026 [1] - Weisheng Information Technology, a subsidiary of Weisheng Holdings, reported a net profit growth of 12.24% to 474 million yuan in the first three quarters [1] - Citigroup has initiated a 90-day positive catalyst observation for Weisheng, anticipating improvements in profitability from its AIDC-related distribution equipment business [1]
大行评级丨花旗：对威胜开启为期90天正面催化剂观察 目标价升至15.5港元