Haitong International: First coverage of Jizhijia-W (02590) gives “superior to the market” rating, rapid global business development

The Zhitong Finance App learned that Haitong International released a research report stating that it covered Jizhijia-W (02590) for the first time, giving it an “superior to the market” rating. The Group's net profit from 2025 to 2027 is estimated to be 137 million yuan, 333 million yuan and 606 million yuan (same below), respectively, with revenue of 3.13 billion yuan, 4.03 billion yuan and 5.12 billion yuan respectively. Haitong International said that the company's main business structure is clear and the technical advantages are remarkable. The market sales rate valuation was used to finally give the company a 10-fold market sales rate valuation in 2026, corresponding to a reasonable market value of 40.3 billion yuan, corresponding to the company's target price of HK$32.76.