Guotai Junan: First gives Jizhi Jia-W (02590.HK) a "buy" rating with a target price of 32.76 Hong Kong dollars.

According to the Wise Financial APP, Guotai Haitong released a research report stating that it has initiated coverage on Geekplus-W (02590.HK) for the first time and assigned a "buy" rating. The company is the world's largest provider of warehouse and fulfillment robotic solutions, with revenues of 1.03 billion yuan in the first half of 2025, an increase of 31.0% year-on-year. The bank predicts net profit attributable to shareholders of 1.37/3.32/6.06 billion yuan from 2025 to 2027, with revenues of 31.3/40.3/51.2 billion yuan. The company's main business structure is clear, with significant technological advantages. The bank uses a PS valuation method to ultimately give the company a 2026 PS valuation of 10.0 times, corresponding to a fair market value of 40.3 billion yuan and a target price of 32.76 Hong Kong dollars (converted at a rate of 0.92 yuan to 1 Hong Kong dollar).