Core Viewpoint - Haitong International initiates coverage on Geek+ (02590) with an "Outperform" rating, projecting significant growth in net profit and revenue from 2025 to 2027 [1] Financial Projections - Expected net profits for Geek+ are projected to be 137 million, 332 million, and 606 million RMB for the years 2025, 2026, and 2027 respectively [1] - Revenue forecasts for the same period are 3.13 billion, 4.03 billion, and 5.12 billion RMB [1] Business Structure and Valuation - The company has a clear main business structure and significant technological advantages [1] - Haitong International applies a price-to-sales ratio valuation, assigning a 10x price-to-sales ratio for 2026, leading to a reasonable market capitalization of 40.3 billion RMB [1] - The target price for the company is set at 32.76 HKD [1]
海通国际：首覆盖极智嘉-W予“优于大市”评级 全球业务高速发展