Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company reported a significant revenue growth of approximately 29% year-on-year for Q3 2024, with domestic revenue increasing by about 27% in RMB terms and overseas revenue growth around 30% [2] - The company has been actively involved in the evolving landscape of copyright protection and AI, with recent lawsuits in the AI sector potentially increasing the demand for its services as a third-party provider [2] - The company is exploring opportunities in digital content rights and asset protection in line with the trends of Web3.0 and AI, aiming to enhance operational efficiency and reduce customer acquisition costs through platform upgrades [3] - The company executed a share buyback of 875,000 shares for a total of HKD 1.9763 million, reflecting management's confidence in the company's future [3] Financial Projections - The company's net profit forecasts for 2024-2026 have been revised upwards to HKD 737.9 million, HKD 1.2538 billion, and HKD 2.3078 billion respectively, indicating strong growth potential [4] - The current stock price corresponds to price-to-sales (P/S) ratios of 3.5, 2.7, and 2.1 for 2024-2026, suggesting a favorable valuation outlook [4]
阜博集团：2024Q3经营数据点评：收入快速增长，回购彰显信心