Weaver Network(SH:603039) SINOLINK SECURITIES·2025-03-28 03:23Investment Rating - The report maintains a "Buy" rating for the company, expecting a price increase of 5% to 15% over the next 6 to 12 months [5][13]. Core Insights - In 2024, the company achieved revenue of 2.362 billion RMB, a decrease of 1.31% year-on-year, while the net profit attributable to shareholders was 203 million RMB, an increase of 13.58% [2]. - The company's software product revenue decreased by 13.95% due to fluctuations in downstream customer demand, while technical services revenue grew by 7.87% to 1.438 billion RMB [3]. - The company has upgraded its AI-enabled products, which are expected to drive revenue growth, and has launched various applications integrating AI functionalities [4]. - The marketing system is continuously improving, with a strategic goal to expand into overseas markets, establishing localized service teams in several countries [4]. Financial Performance Summary - The company forecasts revenues of 2.631 billion RMB, 2.923 billion RMB, and 3.239 billion RMB for 2025, 2026, and 2027, respectively, with year-on-year growth rates of 11.40%, 11.10%, and 10.80% [5][10]. - The projected net profit for 2025, 2026, and 2027 is 276 million RMB, 319 million RMB, and 368 million RMB, reflecting growth rates of 36.06%, 15.46%, and 15.44% [5][10]. - The report indicates a decrease in employee numbers by 13.4% and a reduction in sales, management, and R&D expense ratios [3].