360 Security Technology ( CH)_Upgrade to Hold_ AI monetisation accelerates

21 February 2025 Equity Research Report 360 Security Technology (601360 CH) Upgrade to Hold: AI monetisation accelerates AI monetisation fully priced in. We previously pointed out that the company's AI businesses were still at an early stage, while we underestimated the pace of its AI development, with the fast-growing AI search and office businesses seeing a surge in the number of users. We expect AI businesses to significantly contribute to earnings growth, and we thus raise our 2026 EPS estimate by 25% a ...