CITIC Securities: Initiates "Strong Buy" rating on MOBVISTA, with product iteration driving high performance growth
I'm LongbridgeAI, I can summarize articles.China Merchants Securities released a research report stating that MOBVISTA's Mintegral is its absolute core business, and the continuous iteration of its products constitutes the core engine for revenue and profit growth. The company will consolidate its IAA (In-App Advertising) fundamentals while deepening its high-value IAP (In-App Purchase) business, leveraging the flywheel effect to drive sustained performance growth. Considering the company's accelerated expansion of the IAP business and the deepening implementation of AI empowerment, the firm is optimistic about the performance growth brought by the continuous iteration of the intelligent bidding system on the Mintegral platform, giving it an initial coverage rating of "Strong Buy." The firm expects MOBVISTA's operating revenue from 2026 to 2028 to be USD 2.776 billion, USD 3.67 billion, and USD 4.715 billion, representing year-on-year growth of 36%, 32%, and 28%; adjusted net profit is expected to be USD 195 million, USD 290 million, and USD 420 million, with year-on-year growth of 104%, 49%, and 45%
According to the Zhitong Finance APP, China Merchants Securities released a research report stating that MOBVISTA (01860) has Mintegral as its absolute core business, and the continuous iteration of its products constitutes the core engine for revenue and profit growth. The company will consolidate its IAA (In-App Advertising) fundamentals while deepening its high-value IAP (In-App Purchase) business, leveraging the flywheel effect to drive sustained performance growth. Considering the company's accelerated expansion of the IAP business and the deepening implementation of AI empowerment, the firm is optimistic about the performance growth brought by the continuous iteration of the intelligent bidding system on the Mintegral platform, initiating coverage with a "Strong Buy" rating.
The firm expects MOBVISTA's operating revenue for 2026 to 2028 to be USD 2.776 billion, USD 3.67 billion, and USD 4.715 billion, representing year-on-year growth of 36%, 32%, and 28%; adjusted net profit is expected to be USD 195 million, USD 290 million, and USD 420 million, with year-on-year growth of 104%, 49%, and 45%