Weaver Network(SH:603039) China Post Securities·2025-11-06 07:18Investment Rating - The report maintains a "Buy" rating for the company, expecting a relative increase in stock price of over 20% compared to the benchmark index within six months [7][14]. Core Insights - The company achieved revenue of 1.299 billion yuan in the first three quarters of 2025, a year-on-year decrease of 6.26%, while net profit attributable to shareholders increased by 15.99% to 100 million yuan [4]. - Cost reduction and efficiency improvement measures have significantly enhanced profit margins, with gross margin rising by 1.20 percentage points to 94.28% [5]. - The company is leveraging AI and international expansion opportunities, having established service points in multiple countries and serving over 4,000 overseas Chinese enterprise clients [6]. Financial Performance Summary - For 2025, the company is projected to achieve revenues of 2.437 billion yuan, with a growth rate of 3.19%, and net profit attributable to shareholders of 262 million yuan, reflecting a growth of 29.22% [10]. - The company’s net profit margin improved by 1.48 percentage points to 7.70%, driven by increased other income and reduced investment losses from joint ventures [5]. - The company’s financial ratios indicate a healthy outlook, with a projected PE ratio decreasing from 73.85 in 2024 to 34.16 by 2027 [10][11].