Ge Long Hui A P P·2025-11-27 08:39Core Viewpoint - The report from Guotai Junan Securities indicates that Wangsu Technology achieved significant year-on-year and quarter-on-quarter growth in net profit attributable to the parent company in Q3 2025, driven by active expansion into overseas markets and a comprehensive product offering [1] Market Expansion - The company is actively exploring overseas markets, focusing on Southeast Asia and the Middle East for its product offerings [1] - Wangsu Technology is advancing its entire product line internationally, providing security services to local clients and companies venturing abroad [1] Product and Service Development - The company has launched a deep security assessment service for large models, offering a one-stop security solution for large language models and AI applications [1] - The service encompasses model output security, data security, algorithm security, and application security, aiding enterprises in building a secure and trustworthy AI application ecosystem [1] Valuation and Rating - Based on comparable company valuations, Wangsu Technology is assigned a 2025 price-to-earnings ratio of 42 times, leading to a target price of 14.02 yuan, with a maintained "Buy" rating [1]