HK Stock Market Move | MOBVISTA (01860) rose nearly 5%, with the company's revenue showing steady year-on-year growth. The IAP ROAS model is expected to accelerate.

MOBVISTA (01860) rose nearly 5%, as of the time of publication, up 4.9% to HKD 13.27, with a turnover of HKD 176 million. On the news front, in the first quarter of this year, MOBVISTA achieved a year-on-year improvement in multiple performance indicators, with revenue reaching USD 581 million, a 32.2% increase year-on-year; gross profit reaching USD 122 million, a 26.9% increase year-on-year; and adjusted EBITDA reaching USD 46.74 million, a 12.0% increase from the same period last year. During the reporting period, Mintegral recorded revenue of USD 560 million, a 33.1% increase year-on-year. CMS C's report on June 9th pointed out that MOBVISTA's Mintegral is the absolute core business, and the continuous iteration of its products constitutes the core engine driving revenue and profit growth. The company will consolidate its IAA customer base while deepening its IAP high-value business, leveraging the flywheel effect to drive sustainable performance growth. Initial coverage was given a "strong buy" rating. Sealand also stated that the company's core research and development direction for Q1 2026 is AI new infrastructure, MaxAgent multi-agents, etc. As of June 2026, the company's new generation AIInfra system has completed major development, and efficiency improvements + model prediction accuracy have been observed. After undergoing Q3 testing, grayscale and stability verification, it is expected to be fully launched in October. The IAPROAS model under the new infrastructure is expected to demonstrate business effects in Q4 2026. The MarTech product line is advancing towards intelligent restructuring, and is expected to enter a new commercialization phase in Q4 2026, with steady release of technological dividends.