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研报掘金丨国信证券:维持金山办公“优于大市”评级 AI会员已经开始贡献收入

Research reports | Guosen Securities: Maintaining beijing kingsoft office software, inc's "outperform" rating as AI members have started contributing revenue.

Gelonghui Finance ·  Nov 27 15:32  · Ratings

On November 27th, Guosen's research report pointed out that Beijing Kingsoft Office Software, Inc (688111.SH) Q3 revenue was 1.214 billion yuan (+10.53%), net income attributable to the mother was 0.318 billion yuan (+8.33%), the third quarter revenue growth rebounded, and cash flow performance was excellent. Personal subscriptions maintained high growth, and the recovery of information creativity and the value-driven growth of both ends of the business model. Document processing is the first scene where AI Agent has landed, and AI has generated revenue. The company's cumulative annual paid users for AI Members and VIP Members has exceeded one million, injecting strong momentum into the development of personal subscription business in China. As a leader in AI applications, and AI members have already started contributing revenue; combined with the upcoming increased efforts to promote the new round of information creativity industry, the industry and the down-to-earth information creation market still have vast opportunities, maintaining a rating of "better than the overall market".

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