中信建投:维持金山办公“买入”评级,信创招标及确收进度加速
Xin Lang Cai Jing·2025-12-01 08:37

Core Viewpoint - The report from CITIC Securities indicates that Kingsoft Office achieved a net profit attributable to shareholders of 1.178 billion yuan in the first three quarters of 2025, representing a year-on-year growth of 13.32% [1] Financial Performance - In Q3, the revenue from WPS personal business reached 899 million yuan, showing a year-on-year increase of 11.18% [1] - WPS365 revenue was 201 million yuan, with a significant year-on-year growth of 71.61% [1] Strategic Focus - The company is continuously increasing its investment in AI research and development [1] - With the critical node of "信创" approaching, the company is fully embracing AI transformation, leading to a rapid growth in monthly active users of WPS AI [1] Future Outlook - The company is expected to convert monthly active users of AI products into paying customers, which will drive performance improvement [1] - The rating for the company is maintained at "Buy" [1]