---
title: "Dongfang Securities: Maintain GRG Banking \"Buy\" rating, target price 16.8 yuan"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/245637139.md"
description: "Dongfang Securities maintains a \"Buy\" rating on GRG Banking, with a target price of 16.8 yuan. GRG Banking's Wangdao large model has achieved results in the fields of finance and government affairs, and has received national-level honors. The company has full-stack technical service capabilities in the digital RMB business and participates in operational exchanges. Despite operating costs growing beyond expectations, the revenue forecast for 2025 has been raised, while the gross margin forecast has been lowered, with a reasonable valuation of 40 times the price-to-earnings ratio for 2025"
datetime: "2025-06-23T07:12:23.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/245637139.md)
  - [en](https://longbridge.com/en/news/245637139.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/245637139.md)
generator: "portal-rs"
---

# Dongfang Securities: Maintain GRG Banking "Buy" rating, target price 16.8 yuan

Dongfang Securities research report pointed out that on June 13, GRG Banking's self-developed Wangdao large model successfully passed the filing for generative artificial intelligence services in Guangdong Province. Currently, the Wangdao large model has achieved results in fields such as finance and government affairs, empowering key projects and winning national honors. The company is expected to deepen its "AI in all" strategy along the "industry + lightweight" path, accelerating the integration of AI with various industries and benefiting from the AI wave. In terms of digital RMB business, the company has full-stack technical service capabilities, providing various forms of hardware wallets and smart digital currency ATMs, deeply participating in operational exchanges, and offering ecological products such as smart contracts to commercial banks in software. Due to the company's robust business development, but with operating costs growing slightly above expectations, the revenue forecast for 2025 has been raised while the gross margin forecast has been lowered. Referencing comparable companies, the reasonable valuation level for the company is considered to be a 40 times price-to-earnings ratio for 2025, corresponding to a target price of 16.80 yuan, maintaining a "buy" rating

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**