研报掘金丨中信建投:维持金山办公“买入”评级,信创招标及确收进度加速
Ge Long Hui A P P·2025-12-01 08:44

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] Group 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] - The overall revenue and profit of the company are steadily increasing, reflecting robust financial health [1] Group 2: Investment in AI - The company is continuously increasing its investment in AI research and development [1] - With the critical node of "Xinchuang" approaching, the company is fully embracing AI transformation [1] - The rapid growth in monthly active users of WPS AI suggests potential for converting these users into paying customers, which could enhance performance [1] Group 3: Investment Rating - The report maintains a "Buy" rating for the company, indicating positive outlook based on the current performance and future potential [1]