Weaver Network(SH:603039) China Post Securities·2025-09-04 08:36Investment Rating - The report assigns an "Accumulate" rating for the company, marking its first coverage [2]. Core Insights - The company reported a revenue of 808 million yuan for the first half of 2025, a year-on-year decrease of 8.79%, while the net profit attributable to shareholders increased by 38.46% to 66 million yuan [5]. - The company has achieved significant cost reduction and efficiency improvements, leading to an increase in net profit margin by 2.8 percentage points to 8.1% [6]. - The company is embracing AI and the domestic innovation trend, optimizing its marketing channels both domestically and internationally [7]. - The company is expected to achieve revenues of 2.437 billion yuan, 2.640 billion yuan, and 2.887 billion yuan from 2025 to 2027, with corresponding net profits of 262 million yuan, 363 million yuan, and 439 million yuan [8]. Financial Performance - The latest closing price of the company's stock is 61.30 yuan, with a total market capitalization of 16 billion yuan [4]. - The company’s earnings per share (EPS) are projected to grow from 0.78 yuan in 2024 to 1.68 yuan in 2027 [10]. - The company’s asset-liability ratio stands at 44.9%, indicating a stable financial structure [4].