Jinwu Financial News | HAITONG INT'L releases a Research Report, initiating coverage on JF SMARTINVEST (09636). The company focuses on C-end investment content services based on integrated media operations, providing personal investors with investment decision-making solutions through various Software and data services. As of the mid-2024 report, the company operates 488 MCN Accounts across different Internet Plus-Related platforms, accumulating approximately 45.6 million fans.

The bank indicated that the company empowers Stock investment services with an emerging integrated media operation model, targeting high customer value demographics, boasting a relatively superior business model and a first-mover advantage in the market. Recently, with the recovery of the Capital Markets, active securities trading, and increased demand for C-end stock investment services, strong momentum is expected for the company's Operational performance.

The bank forecasts that the company's total operating revenues for 2024-2026 will be 2.28/3.828/4.605 billion yuan, with a year-on-year growth of 16.0%/67.9%/20.3%; net income attributable to the parent will be 0.195/0.551/0.985 billion yuan, with year-on-year growth of 2.0%/182.9%/79.0%; EPS will be 0.43/1.23/2.20 yuan respectively. Compared to comparable companies, there remains significant room for valuation appreciation, assigning the company a PE of 30 times for 2025, and with an Exchange Rates of 1 Hong Kong dollar = 0.94 yuan, the Target Price is set at 39.19 HKD, initiating coverage with an 'Outperform the Market' rating.