Kingsoft Office(SH:688111) Ge Long Hui·2025-12-10 06:40Core Viewpoint - Kingsoft Office has upgraded WPS 365 to a global all-in-one AI collaborative office platform, introducing new products and enhancing core AI features [1] Group 1: Product Development - WPS 365 now includes WPS Lingxi Enterprise Edition, Team Space, and "Qingzhou" engine, marking it as the first platform with a complete product matrix covering major global platforms [1] - The intelligent document library and digital employee features have been upgraded as part of the core AI products [1] Group 2: Market Presence - WPS 365 has served over 1 million enterprise clients and more than 18,000 leading government and enterprise clients [1] - Among the 133 Chinese companies in the 2024 Fortune Global 500 list, 90% have adopted WPS 365 for efficiency improvements [1] - Over 70% of listed companies in the 2025 China Private Enterprises 500 have chosen WPS 365 to enhance efficiency and optimize business operations [1] Group 3: Competitive Position - The company is a leader in domestic office software and a pioneer in AI office solutions, leveraging the WPS ecosystem and AI technology to strengthen its market position [1] - The advantages in government and trusted innovation sectors are expanding, indicating strong long-term growth certainty [1] Group 4: Valuation - The company is given a target market value of 200.5 billion yuan and a target price of 432.9 yuan, based on a 28x PS ratio for 2026 [1] - The rating for the company is maintained as "strong buy" [1]