Accessible version Rating Change: BUY | PO: 408.00 CNY | Price: 325.50 CNY More positive on growth outlook; upgrade to Buy We upgrade Kingsoft Office to Buy from Neutral, as we are turning more positive on its growth outlook, driven by 1) rapid WPS 365 business growth with client base expansion (e.g., POEs and local SOEs) and product upgrade into a one-stop AI collaborative office platform, 2) WPS to-C business revenue recovery with accelerated AI monetization in domestic market and strong user base growth ...