Glonghui May 26 丨 Dongxing Securities Research Report on the 25th pointed out that Yinguniverse (3700.HK) created a product matrix development model, and profit margins for live streaming and social media have steadily increased. In the field of blind dates, the management standards and operating models of offline blind date stores are becoming more mature. Offline blind date centers have been set up in Beijing and Shanghai to provide quality services to more single men and women. The company strengthened overseas market expansion and created a new growth curve. At the same time, the combination of operating strategies close to local culture, customs and lifestyle will drive the company's overseas business into a new stage. The company started with a single continuous broadcast product and successfully implemented live streaming, social networking, and blind date matrix product layouts. Looking ahead, overseas markets are expected to become a new growth point for the company. In 2023-2025, the company's net profit is estimated to be 374 million yuan, 467 million yuan, and 566 million yuan respectively. Corresponding to the current stock price PE is 3.9X, 3.1X, and 2.6X respectively, maintaining the “recommended” rating.